Barry Zekelman: 5 Fast Facts You Need to Know

Barry Zekelman is a Canadian billionaire who owns steels plants both in Canada and in the United States. Most of his business is in the United States. That’s why, according to the New York Times, Zekelman has been lobbying hard for protectionist policies for steel makers in the United States.

The Times reported that some of Zekelman’s lobbying activities may have “skirted” or even violated the law. Zekelman has high praise for President Trump and his policies.

Zekelman’s net worth has been estimated at 3.46 billion, making him the 24th richest person in Canada. He and his wife, Stephanie, live a lavish lifestyle and own homes around the world. Here’s what you need to know about Barry Zekelman:

1. He & His Wife Have Met With President Trump & Members of the Trump Family as Part of a Lobbying Campaign to Protect US Steelmakers

The New York Times reported that last year, Zekelman and his wife took part in a “small dinner” with President Trump and his eldest son, Donald Trump Jr. Zekelman told the Times that they had talked about quotas that the United States was planning to impose on steel imports from South Korea. South Korea is a key competitor in the field of steel.

Zekelman later praised the president for his policies. “He’s attacking the problems that should have been attacked for many years,” Mr. Zekelman, 52, said of Mr. Trump in an interview.

He told Canadian broadcaster CBC that Trump’s plans for a 25 percent tariff for steel and 10 percent for aluminum was an example the Canadian government should follow. He added that in his opinion, the tariffs could be even higher.

“Is that 25 percent duty enough? I don’t think it is and I actually think those duties should be much higher,” he said.

2. His Company, Zekelman Industries, Donated $1.75 Million to Support Trump Last Year

The Times reports that in 2018 Zekelman Industries, the company owned by Barry Zekelman, donated $1.75 million to a fund intended to support Donald Trump. The Times says that the donations may have been a violation of laws that bar foreigners for lobbying in the United States. Still, it’s not quite clear whether Zekelman actually violated the law.

Zekelman and his brother took over the company from his father after his father’s death. Barry Zekelan was just 19 when his father, Harry died.

3. Zekelman & His Wife Own a Vacation Home in Paradise, Arizona & Another Vacation Home in the Caribbean

Zekelman and his wife Stephanie live on the Ontario side of Lake St. Clair, just across from Detroit. They also own several luxurious vacation homes outside of Canada. Their vacation home in Paradise Valley set a record for private home sales in Arizona; the 10,000 square foot home cost $14 million. They also own a vacation home in the Caribbean.

Zekelman was a freshman in college when his father Harry passed away, leaving his newly-formed steel tubing business, Atlas, to Barry and his older brother, Alan. Zekelman said he was glad to have a chance to leave college and jump into the steel industry. He described his experience as difficult but exciting:

“In 1986 after my father died and my brother and I went to help the business, Atlas was not in great shape. But a few of the older employees helped the ‘young ones’ along, and we were able to turn around a company that had been losing about $80,000 a month. To recover, we adopted a formula of ‘buy for X and sell for Y’ that after only eight months allowed us to make our first monthly profit of $4,000. And we thought that was great.”

4. Zekelman Owns a Yacht & a Fleet of Luxury Cars

Zekelman’s net worth has been estimated at 3.46 billion, making him the 24th richest person in Canada. He and his wife own a yacht named Man of Steel. Ther 164-foot craft is a replacement for which replaced their previous 124-foot, $16.3 million boat. The couple also owns a 50 foot catamaran speedboat named Outerlimits. The couple has also owned a number of Porsches, Lamborghinis and Ferraris.

5. Zekelman Is a Philanthropist

Zekelman and his wife have donated tens of millions of dollars to the Special Olympics and other charitable causes. The couple has a reputation for being modest about their philathropy, and for keeping out of the spotlight. They donated $10 million dollars to the Holocaust Memorial Center in the names of Zekelman’s grandparents and parents. His grandparents were killed in the Holocaust, and his parents were Holocaust survivors.