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John McCall MacBain, who turned Quebec’s used-car Auto Hebdo classified ad magazine into a billion-dollar international classified ad conglomerate, is granting a $200-million scholarship fund to McGill University.

The McGill graduate and Rhodes Scholar, and his wife, Marcy, made the announcement Wednesday morning at McGill, in the company of Montreal Mayor Valérie Plante and with words of thanks sent by Prime Minister Justin Trudeau. It is the single largest charitable gift ever given in Canada.

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The scholarship will cover living costs and university fees for 75 students each year to pursue a master’s or a professional degree, such as law or medicine. Fifty of the students will be chosen from Canada, and the rest from around the globe.

The McCall MacBain Foundation will actively seek out prospective students, focussing on those who demonstrate civic engagement and leadership along with academic excellence.