Asa Singh Johal was a well-known Indian-Canadian entrepreneur and philanthropist. He recently passed away at the age of 98. Here we’ll talk about his life, family, and business ventures and discuss Asa Johal’s net worth of $3 billion.
|Name||Asa Singh Johal|
|Birthday||17 August 1922|
|Died||5 July 2021|
|Partner||Kashmir Kaur Johal|
|Kids||Darshy Johal, Geven Oppal|
|Net Worth||$3 billion|
So, How Much Is Asa Johal’s Net Worth?
Asa Johal’s net worth was about $3 billion. His wealth came from Terminal Forest Products, the largest independent lumber company in British Columbia.
The company started with only nine employees and grew to employ over 500 people. It began as a mill selling heating wood, and now it offers all sorts of cedarwood products including planed wood and many other wood products.
Asa was also renowned as a philanthropist, and he and his wife became pillars of society for their community work. Asa Johal was known for his quiet help, helping and supporting worthy causes and organizations without concern for recognition.
Asa Johal matched public donations to fundraising campaigns for the BC Children’s Hospital, Canadian Cancer Society, Rotary Club-Polio Plus, and OASIS (a service for helping immigrants).
Asa Johal’s Early Life
Born in India on 17 August 1922, Asa Johal came to Canada when he was 18 months old and settled in British Columbia with his parents. He started working when he was 12 years, doing milling work with his father.
While his parents wanted Asa to go to school, he quit school at 14 to work full time. He went to work for a large sawmill company and learned the ropes. Starting as a spare clean-up guy, he saved enough money to travel to India to marry.
When he returned with his wife, he bought a truck to haul wood and gathered knowledge and experience to start his own mill, which he did in 1962, founding Terminal Sawmill on Mitchell Island, Vancouver, British Columbia.
Asa Johal’s Personal Life
Asa Johal was a traditional man, and he married Kashmir Kaur in 1948. It looks like this was an arranged marriage, but the couple celebrated 72 years of marriage in 2021, a few months before Asa’s death.
They had two children, son Darshy Johal and daughter Geven. Darshy and his wife Manjit Johal and Geven Oppal and her husband Avtar Oppal have gifted six grandchildren to Asa and Kashmir and eight great-grandchildren.
Career: How Much Does Asa Johal Make?
Asa Johal started working when he was only 14 years of age. Later, in 1962, he founded his company, which after many downsides, he managed to turn into a thriving success and the largest private lumber company in Vancouver, British Columbia.
Asa Johal was a man of impeccable business sense, and he bought another sawmill in 1974, Mainland Forest Products. Today, Terminal Sawmill Group has over 500 employees in two sawmills, two manufacturing plants (one in Canada and one in the USA), a logging camp, and several smaller operations.
How Is Asa Johal Spending His Money?
Asa Johal enjoyed traveling and traveled extensively with his family. He regularly visited India and many other countries and toured Europe, Central, and South America. He’s said that Austria and Switzerland were some of his favorite places.
He was not a fan of a lavish lifestyle but enjoyed earthly comforts. Asa Johal owned a condo in Palm Springs.
Asa Johal is best known for his philanthropic work as he regularly donated money to causes he deemed worthy. He donated over $4 million to the BC’s Children’s Hospital, over $1.5 million to the Cancer Center beside the VGH, and has set up various scholarships for students.
Asa Johal also donated land and funding for the India Cultural Center of Canada’s Gurdwaea Nanak Niwas and was the founding chairman of the India Cultural Center of Canada.
He got an Honorary Doctor of Law degree from UBC in 1991, and he became a member of the Order of BC and the Order of Canada in 1991.
Final Word: Is Asa Johal a Billionaire?
Yes, while he was alive, Asa Johal was a billionaire, and his estimated net worth came to about $3 billion. Despite his wealth and enormous business success, Asa remained a humble man who was always ready to help others and supported many charities.