Saxton was born in North Vancouver, British Columbia, to a Hungarian immigrant father who came to Canada in 1947, becoming a successful businessman.

[3] Saxton attended Upper Canada College where he graduated with an honours high school diploma in 1982.

Immediately prior to being elected Member of Parliament, Saxton served as chief executive officer of King George Financial Corporation, a real-estate investment firm; director of Canaco Resources Inc., a mineral exploration company; director of the Heart & Stroke Foundation of BC and Yukon; and member of the BC Premier's Asia Pacific Trade Council.

Saxton has also served on the Vancouver City Planning Commission, the YVR Aeronautical Noise Management Committee and was founder and past-President of the Pacific Club.

In 2012, Saxton received the Queen Elizabeth II Diamond Jubilee Medal in recognition of his service to his community.