Mitchell Goldhar: The Story of Success

Mitchell Goldhar, a prominent Canadian billionaire, is credited with bringing Walmart to Canada. He built the first Walmart in Barrie, Ontario, in 1994. His company, SmartCentres, based in Toronto, now operates 177 Walmart-anchored shopping centers across the country. Goldhar's grandparents, Polish immigrants, owned a cigar store, and his father turned a carpet business into a successful company. Goldhar joined the family business in 1983 but soon ventured out to promote the concept of discount shopping centers, aiming to lower retail prices by reducing rental costs.

Goldhar’s innovative approach led to SmartCentres investing $8 billion in developing over 47 million square feet of retail space. He has opened about one new center every five weeks, averaging 10 new Walmart stores annually. Beyond his business achievements, Goldhar is a sports enthusiast and philanthropist. He owns the Israeli football team Maccabi Tel Aviv and made headlines by purchasing a historic hockey jersey for $1.2 million. He has also donated significantly to sports rehabilitation projects and served on the board of a children's aid foundation.

Goldhar’s management style, which involves hands-on engagement and frequent visits to Walmart stores, has faced criticism. He was involved in a legal battle over a defamatory article in an Israeli newspaper, which questioned his management practices. Despite this, Goldhar’s impact on the retail landscape and his commitment to community engagement highlight his multifaceted career as both a successful entrepreneur and a dedicated philanthropist.

In addition to his retail ventures, Goldhar sold a portion of his real estate holdings worth $1.1 billion to Calloway Real Estate Investment Trust, which planned to rebrand as SmartREIT. This deal underscored Goldhar’s significant influence in the real estate market and his strategic vision in business. His story is one of relentless ambition and innovation, shaping the Canadian retail landscape and leaving a lasting legacy.

Goldhar, a York University political science graduate, remains deeply connected to his business and community. He frequently interacts with customers and stays attuned to the average Canadian's needs. His dedication to his work, philanthropy, and sports continues to define his dynamic career.

Additional Highlights:

• Goldhar's entrepreneurial journey started with family roots in small businesses.
• His vision of discount shopping centers aimed to make retail more affordable by lowering rental costs.
• SmartCentres' substantial investments and rapid expansion reflect Goldhar’s strategic business acumen.
• Goldhar’s philanthropic efforts and sports involvement showcase his multifaceted interests and commitments.
• Legal challenges and strategic real estate deals highlight the complexities of his business operations.

This comprehensive overview of Mitchell Goldhar’s journey from family business to leading one of Canada’s largest retail real estate companies demonstrates his significant impact on the industry and his dedication to community engagement.