If someone is trying to sell you “the secret to success”, you had better keep a healthy sense of skepticism. Alex Shnaider is a business mogul, Formula 1 team owner, and global investor. If you ask him what his secret is, the answer might disappoint you: “hard work”. Shnaider’s story could serve as a lesson for young entrepreneurs who are looking to emulate his success. Put simply, you need to work hard, carefully analyze risks, be resourceful, and (most importantly) live life the way you want to live it.
Setting up for success
The early bird gets the worm, and the beginning of the career of Alex Shnaider billionaire is no exception. The son of immigrant parents in Toronto, Shnaider comes from a family tradition of striving for a better life. Working in his parents’ deli as a teenager, he would go on to study economics at York University in Toronto. Even as a young student, Shnaider was dipping his toes into the world of international trade and business.
Upon graduating, Alex Shnaider dove head first into the industry of international steel trading. He decided to move to Zurich and make steel trading his full-time business. As a well-traveled man, Shnaider was inspired by trips around Europe and the world, and saw opportunities wherever he went.
Alex Shnaider in the world of business
In 1994, Shnaider co-founded Midland Group. The company found great success initially by bartering low-priced raw materials. Later, they would expand into the industry that Shnaider is most commonly known for: steel trading. In addition to their usual activities, Midland Group also became very active in the field of international investments–something their extensive portfolio can attest to.
As a real estate mogul, Shnaider has long been active in the world of property investments and development. With interests from Toronto to Tel-Aviv, he has made this segment a significant part of his repertoire.
Fast cars and charitable endeavors
Alex Shnaider has been a fan of Formula 1 racing since he was a young child. In 2005, he purchased the Jordan Grand Prix racing team. After changing the name to Midland F1 Racing, Shnaider developed and led the team for years, eventually selling it and quadrupling his investment.
However, getting is just as important as giving, according to the man himself. Shnaider has made significant investments of both time and money to a great deal of charitable organizations and medical centers, including the Sunnybrook Foundation, the Princess Margaret Hospital Foundation, the Ronald McDonald House Charities, the Simon Wiesenthal Center in Toronto, and more.
By the age of 40, Shnaider had already joined the billionaire’s club and was gracing the pages of Forbes’ “Richest people”. To call him a workaholic would be something of an understatement, but perhaps his most important role is that of a father to his three children.
When asked about his meteoric rise in 2012, he had this to say: “Being in my 20s, I was willing and able to take risks that today, being older and more experienced, I probably would not act upon”. Perhaps that’s what they mean when they talk about the bravery of youth.