The city of Toronto is shocked to learn about the suspicious death of Canadian billionaire Barry Sherman and his wife, Honey Sherman, at their home on Friday, December 15, 2017. The couple had four grown-up children whom they raised lovingly. However, Sherman had bitter relations with his cousins who took him to court over alleged financial irregularities in the sale of their father’s company, Empire Laboratories. The courts threw the case out, and Apotex Inc. was untouched. Honey and Barry Sherman’s death has overshadowed the question of who will inherit the vast wealth they had generated.
People in the upper echelons of Toronto, Canada, are shocked over the death of Canadian billionaire Barry Sherman and his wife, Honey Sherman. Their bodies were found hanging side-by-side by the indoor pool in their mansion on Friday, December 15, 2017, according to reports.
Although the police have not confirmed the identities of the couple, the word is out that the Shermans are deceased. The outpouring of condolences from the couple’s friends, business associates, and the country’s politicians confirm this.
Barry Sherman was the chairman and CEO of Apotex Inc., the largest Canadian-owned pharmaceutical company.
A police source has said, “Forensics need to be done and post-mortems on the bodies, but at this stage, it appears there was no forced entry and no evidence of anybody else in the house.”
The police are still investigating, and they are treating this as a case of suicide or murder-suicide right now.
Honey and Barry Sherman’s Children
Both Barry and Barry Sherman’s wife, Honey Sherman, were well-known philanthropists and donated generously to the organizations and charities that they supported. Despite running a multi-billion-dollar company and being on the board of several organizations, both Sherman and his wife had a family life of their own.
Although the couple had four children together, there is currently no other information on Barry Sherman’s kids except that they are all adults now. However, Sherman had several cousins, and their relationships had been tenuous with matters even reaching the courts.
Barry Sherman began his career in pharmaceuticals by working with his uncle, Louis Winter, who owned Empire Laboratories. When Winter died in 1965, Sherman took over the company and then branched out by founding Apotex in 1974.
His company went from merely two employees to be a giant with over 10,000 employees on its payroll.
This transition caused legal problems between Sherman and his cousins. After Winter’s death, his four sons had been adopted by another family and Sherman went on to found Apotex. When his company took off, Sherman found himself reunited with his cousins, the Winter boys, and they were in bad shape.
A couple of them had turned to drugs, and one later died of a drug overdose. The boys were entitled to $330,000 each from the sale of their father’s company, Empire Laboratories, but their adoptive parents spent most of the money. Whatever little that was left of it was spent by the boys when they came of age.
Matter Reaches the Court
Sherman met his cousins by chance in 1988 through a mutual friend and was moved by seeing their plight. He bought them houses, gave them cash, and arranged for loans so that they could start their own businesses.
However, his cousins came across the Empire purchase agreement and claimed that Sherman had ignored provisions to provide them with financial security. They also claimed that Sherman had used the Empire’s assets to start and build Apotex and had not compensated them adequately.
In 2006, Sherman’s cousins demanded an ownership stake in the company. But after some bitter court proceedings, the case was thrown out of court by the judge.
Investigation Takes Priority
Barry Sherman’s net worth was $4.7 billion at the time of his death. Although Sherman and his wife are survived by their four adult children, it is not known who will inherit the fortune.
People are now anxiously waiting for more details about the death of one of Canada’s wealthiest couples as family and friends are in shock and mourning.
The police are still carrying on its investigation into the couple’s suspicious deaths. And, we hope that they will offer more insight into what happened very soon.