David Gilmour, a renowned Canadian entrepreneur known for his success in the real estate and gold mining industries, tragically passed away on June 11 in his Manhattan home at the age of 91. His wife, Jillian Gilmour, confirmed that the cause of death was cardiac arrest.
During his lifetime, David Gilmour achieved remarkable financial accomplishments through his partnership with Peter Munk, his college friend from Toronto. Together, they established various prosperous ventures, such as Clairtone Sound, a popular stereo company; a chain of over 50 hotels across the South Pacific; and a Canadian oil company that eventually became the world’s largest gold mining business, Barrick Gold.
Despite his extensive travel and business ventures, David Gilmour maintained a deep connection to Wakaya, a small island in Fiji that he first visited in the 1970s. This island served as a sanctuary for him after the tragic loss of his daughter, Erin Gilmour, who was killed in her Toronto apartment at the young age of 22. As a way to honor her memory and find solace, David Gilmour constructed various structures on the island, including a reservoir, airstrip, jetty, and a 12,000-square-foot villa named Vale O (House in the Clouds). In 1990, he opened the Wakaya Club & Spa, an exclusive resort where celebrities like Bill Gates, Nicole Kidman, Paris Hilton, and Keith Richards reserved one of the eight luxurious thatched-roof suites.
According to David Gilmour, Wakaya Island was his personal heaven, a place that provided him with inspiration and peace. It was during his time on the island that the idea for Fiji water was born. After witnessing a guest brandishing a bottle of Evian on the Wakaya golf course, he realized that there was no need to import water from Europe when Fiji had its own pure and natural source. In 1999, David Gilmour founded Fiji water after discovering a pristine aquifer on Viti Levu, the largest island in Fiji. He invested approximately $48 million of his own funds into the business and introduced square-shaped bottles adorned with a hibiscus flower, symbolizing the water’s source in a pollution-free ecosystem.
To promote the brand, David Gilmour utilized his connections in Hollywood, ensuring that Fiji water appeared on popular television shows like “The Sopranos” and “Ally McBeal.” He also secured partnerships with luxurious restaurants and hotels. David Gilmour’s personal endorsement contributed to the success of Fiji water, as he exclusively drank it himself and even used it to brush his teeth.
Despite criticism directed towards bottled water companies for their environmental impact, Fiji water continues to thrive commercially. In 2004, it became the second-largest imported water brand in the United States, following Evian. The business was later acquired by Roll International (now called the Wonderful Co.), owned by billionaires Stewart and Lynda Resnick, for an estimated $50 million.
David Gilmour had a unique perspective on business ownership. He preferred developing new ideas over overseeing established enterprises, leading him to sell businesses once they reached a significant level of success. Additionally, he disliked traditional boardroom meetings and favored a more hands-on approach. Throughout his life, he constantly sought personal growth and learning, even during challenging times.
Born on November 5, 1931, in Winnipeg, Manitoba, David Gilmour was the youngest of four children. His father worked as an investment banker, while his mother was an opera singer. As a young boy, David Gilmour enjoyed outdoor activities like skiing and horseback riding, and he spent summers traveling abroad. After completing high school, he was given the choice between funding his own startup or embarking on a lengthy vacation across Europe. He chose the latter, with the condition that he would not travel with friends.
David Gilmour attended the University of Toronto, where he studied business. He started his entrepreneurial journey by selling pots and pans door-to-door before establishing his first company, Dansk Design, which specialized in selling modern Scandinavian furniture and housewares.
In 1958, David Gilmour partnered with Peter Munk to create Clairtone Sound, a company that produced futuristic stereos and gained recognition through its appearances in movies and endorsements from notable figures like Dizzy Gillespie. However, the company faced challenges after expanding into television and relocating manufacturing from Toronto to Nova Scotia, leading to the departure of David Gilmour and Peter Munk.
Undeterred by this setback, the duo went on to establish the Southern Pacific Hotel Corp., acquiring numerous hotels in countries such as Australia and New Zealand. They also embarked on an ambitious project to construct a luxury resort near the Egyptian pyramids, receiving support from influential figures like Saudi financier Adnan Khashoggi. However, the project faced opposition and was ultimately halted by Egyptian President Anwar Sadat. In 1981, the Southern Pacific Hotel Corp. was sold to Singaporean banker Khoo Teck Puat for approximately $100 million.
In 1981, David Gilmour married Jillian Sweeney, a native of New Zealand, and they resided in New York and Palm Beach, Fla. After Wakaya Island was devastated by a cyclone in 2016, David Gilmour sold the island to Clare Bronfman, an heiress to the Seagram’s liquor fortune. Unfortunately, she faced legal troubles and was sentenced to nearly seven years in prison for involvement in the NXIVM sex-trafficking case.
To honor his daughter’s memory, David Gilmour utilized his business earnings to establish preschools in Fiji and across the United States. His most recent business venture, Wakaya Perfection, focused on health and wellness, specializing in organic ginger, turmeric, and kava. Launching this company was a deeply meaningful undertaking for David Gilmour.
David Gilmour’s life was marked by his entrepreneurial spirit, resilience, and commitment to personal growth. He left a significant impact on the business world and the lives of those who crossed paths with him.
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