Gábor became wealthy via Austro-Hungarian distribution rights for the popular Viennese chocolate brand, Manner, invested in real estate, then, during World War II, used what remained of his fortune to buy safe passage out of Hungary to neutral Switzerland for members of his immediate family, including his grandson Peter.
[4][5] Hungary was occupied by Nazi Germany in March 1944, when Munk was aged 16;[3] along with 14 members of his family, he escaped on the Kastner train, which carried 1,684 Jews to safety in Switzerland.
The journey had been arranged by Rudolf Kastner of the Zionist Aid and Rescue Committee, as a result of secret negotiations with Adolf Eichmann—the high-ranking Nazi had allowed some Jews to leave in exchange for money, gold, and diamonds, part of a series of so-called "blood for goods" deals.
[7] Munk arrived in Canada in 1948, via Switzerland, initially on a student visa, then graduated from the University of Toronto, in 1952, with a degree in electrical engineering.
The most celebrated Clairtone designs were the striking "Project G" series, introduced in 1964, composed of sleek rosewood cabinets with cantilevered black aluminum "sound globes" (speakers).
The Project G and G2 were seen in the films Marriage on the Rocks and The Graduate, awarded a silver medal for excellence at the Milan Triennial design exhibition, and endorsed by Frank Sinatra and Oscar Peterson.
"[14] In 1967, as a result of mounting losses and in order to try to recoup its multi-million dollar investments, the Government of Nova Scotia took over Clairtone and fired Munk and Gilmour.
"[14] After the collapse of Clairtone, Munk and Gilmour invested in a plot of ocean-front land in Fiji which they soon developed into a hotel and resort.
When Anwar Sadat cancelled the project, Munk sued the Egyptian government, eventually winning the arbitration case at the International Centre for Settlement of Investment Disputes.
In 1979, Munk returned to Canada to start a new venture called Barrick, which he would eventually build into the world's largest gold company.
[15] Munk was also founder, chairman, and CEO of Trizec Properties (formerly TrizecHahn Corporation), one of the largest American real estate investment trusts.
[16] In 2007, Munk invested with partners in Porto Montenegro, a former naval base on the Adriatic Sea, turning it into a superyacht destination to rival Cannes and Monte Carlo.
He was the majority shareholder of Montport Capital, which owned the centrepieces of the complex, Porto Montenegro Marina and Resort.
In 2016 Munk sold the marina and hotel to Investment Corporation of Dubai, a sovereign wealth fund,[17] for an undisclosed amount, believed to be about 200 million euros.
[19] In 2011, Munk planned to merge with Glencore, Ivan Glasenberg's company, to create one of the world's largest commodities giants on par with BHP and Rio Tinto.
It has disbursed more than $300 million to a variety of organizations that work to improve the health, education and international reputation of Canadians.
[43] In 2008, Munk praised Canada for being a place where he could come as an immigrant, without wealth, knowledge, language skills or a network and set up a successful business and grow it into an empire.
[49] The Financial Post posthumously lauded him as "An entrepreneur with a Midas touch, he was one of Canada's most high-flying, international deal makers, with friends ranging from Brian Mulroney and Prince Charles to the arms dealer Adnan Khashoggi and French billionaire Bernard Arnault, as well as one its most generous benefactors.
"[50] He received several honorary degrees: He became Officer of The Order of Canada (the country's highest civilian honour) in 1993 and was promoted to Companion in 2008;[53] received The Woodrow Wilson Award for Corporate Citizenship in 2002 (the first time awarded outside the U.S.); was inducted into the Canadian Business Hall of Fame, and the Canadian Mining Hall of Fame.