A meeting with... Pierre Lassonde

Some people leave a mark on your life and the world. Pierre Lassonde is one of them, a mentor to Olivier and a true legend in the gold industry.

Why did you choose Orea Capital?

Whether it’s business or philanthropy, Good people make Good things happened.

I have known Olivier for over 20 years and it’s an honour to join him in building what I consider one of the finest money management firms in Europe.  Olivier, and the team he has assembled, are proven wealth creators as well as safe stewards of capital.

What role would you like to play on Orea Capital’s board of directors? What will your focus be, and what will be your main contribution?

My contribution, as director of Orea Capital, will be to introduce friends and partners to Orea Capital as well as making sure that Orea Capital has the people and the tools to continue to outperform the competition. 

You come from the gold mining sector, where long investment horizons and strategic planning are crucial. Which broader social or economic themes do you see as defining the future of wealth management in the next ten years? How do you plan to anticipate these challenges?

I have learned a long time ago the we always live in “Interesting Times”. The pace of change has accelerated in the past 20 years and will do so even more over the next 20 years. For example, which industries are likely to benefit most from the AI revolution ?

If we can seize those opportunities , we will certainly be able to deliver outsized returns to our clients. It has been estimated that over 35 Millions jobs will disappear in the USA alone over the next 20 years because of AI. That’s Trillions of dollars of productivity growth! So yes lots of challenges but also incredible opportunities !

All this productivity will come about using critical metals such as copper, silver, gold, nickel, cobalt etc. The mining industry has never had it so good. Again to be able to pick the winning companies will be a critical focus of mine with Orea Capital.

You are a philanthropist. Could you give us some insight into the selection process you used to choose the projects you support?

My parents were the ones who, from a very early age, instilled the mantra of Giving Back. Anyone’s success is in part due to the people, place and society you were born and raised. To be a Good Citizen is to contribute your Time, your Talents and your Treasures ( I call them the 3 T’s of philanthropy) to causes that create a better world.

The two key words we measure our philanthropic endeavours are: Impact and Sustainability . 

When my first wife and I created our Foundation we sat down and thought about what we cared the most about. Education came in first place. My wife came from a Very poor family and if it had not been for a few grants and loans, would have never been able to go to University. We were able to go to graduate studies because of a Govt loan and some tuition relief as Teacher’s Assistants. We have given several hundred of millions to establish Entrepreneurs Institute, Engineering Schools, Mining Schools etc with most of the money dedicated to students’ scholarships. 

Arts has always been a part of who we were. My mother had painting all over the house and artists as friends. We made it our second priority within our Foundation.

Finally we created a third category that we called “ The Community in which we live.”

This is to be able to contribute to smaller projects that makes where we live a better place. 

There are dozens if not hundreds of philanthropic causes. One has to make a choice. 

Which personal values or experiences have shaped you most in your career as a leader? What advice would you give to young leaders in this regard?

I’ve travelled extensively around the world with some 126 countries visited so far. I can tell you that people are the same all over the world. We all want to have love in our lives, educated children that contribute to society and a job that pays enough to live in a decent environment . Integrity and empathy are absolutely necessary when you’re dealing with other peoples money. Entrepreneurs who don’t take no for answers but listen to experience, are rare and worth investing in. People who have a stable family life are more able to work effectively and I praise that.

Is there anything else you would like to share with Orea Capital’s clients?

I want to assure the Orea Capital clients that I will do what I have always done and that is to look after their money exactly the same way I look after mine or that of the shareholders in the companies I have been associated with over the past 40 years like Franco nevada, Newmont mining, Orla mining etc.....