Eric Sprott Explained
Eric Sprott (born 1944/45) is a Canadian billionaire businessman.
Early life
Sprott has a bachelor's degree from Carleton University.[1]
Career
Sprott started his career as a research analyst with Merrill Lynch, before becoming a fund manager.[1] [2] In 2001, he sold his first company, Sprott Securities, to the company's staff, and donated $10 million to Carleton University, who renamed their business school, the Sprott School of Business.[1]
Sprott advised investors to buy gold before the 2008 financial crash.[3] Following the financial crisis, gold rallied to a new all-time high of over $2000/oz.[4]
The Sprott Molybdenum Participation Corporation was a dedicated commodity hedge fund created in April 2007[5] to invest in molybdenum assets. The primary investment objective of the corporation was to achieve capital appreciation by investing in securities of private and public companies that explore for, mine, and process molybdenum.[6] The fund was listed on Toronto Stock Exchange under the ticker MLY.
He was the chairman of Sprott Inc, a Toronto-based asset management firm, from 2010 to May 2017.[2] [3]
Sprott is a "long-time gold bull", and claims to hold 90% of his assets (except for Sprott Inc shares) in gold and silver.[2] [1]
Personal life
Sprott is married to Vizma Sprott [7] and has two children, Juliana Haver and Larisa Sprott.[1] [8]
Notes and References
- Web site: Eric Sprott . Forbes.com . 14 June 2017 . 9 September 2017 . https://web.archive.org/web/20170909011257/https://www.forbes.com/profile/eric-sprott/ . live .
- Web site: Niall McGee . Gold-focused Sprott Inc. founder to step down as chair . The Globe and Mail . 7 April 2017 . 14 June 2017 . 18 May 2017 . https://web.archive.org/web/20170518060429/http://www.theglobeandmail.com/report-on-business/investor-eric-sprott-stepping-down-as-chairman-of-sprott-inc/article34630762/ . live .
- Web site: 'Bay Street wizard' Eric Sprott, who told investors to 'Buy Gold' before the 2008 crash, will step down next month | Financial Post . Business.financialpost.com . 14 June 2017 . 12 June 2017 . https://web.archive.org/web/20170612165628/http://business.financialpost.com/investing/investing-pro/bay-street-wizard-eric-sprott-who-told-investors-to-buy-gold-before-the-2008-crash-will-step-down-next-month . live .
- Web site: 2008 Financial Crisis Set Stage For Gold Rally. 3 October 2021. Kitco News. 3 October 2021. https://web.archive.org/web/20211003014701/https://www.kitco.com/news/2014-10-13/2008-Financial-Crisis-Set-Stage-For-Gold-Rally.html. dead.
- http://www.jimletourneau.com/blog/2009/1/20/sprott-changes-mind-about-moly.html Sprott Changes Mind about Moly
- Web site: Sprott Molybdenum Participation Corporation announces appointment of new board member . 15 August 2023 . 9 June 2011 . https://web.archive.org/web/20110609185509/http://www.newswire.ca/en/releases/archive/May2007/04/c5016.html . live .
- Web site: Foundation . Toronto General & Western Hospital . Eric and Vizma Sprott, through The Sprott Foundation, announce $25-million donation to UHN . 29 December 2022 . www.newswire.ca . en.
- Web site: Magazine. Sprott Department of Surgery. Scrubbing in. 10 August 2021. www.uhn.ca. en. 10 August 2021. https://web.archive.org/web/20210810131957/https://www.uhn.ca/Surgery/Sprott_Department_of_Surgery/Magazine/Pages/Scrubbing_in.aspx. dead.
