Wikipedia:
Much of Pellatt's fortune was made through investments in the railway and hydro-electric industries in Canada, including the Toronto Electric Light Company. However, legislator Adam Beck launched a campaign against the great industrialists of Canada proclaiming hydro power "should be as free as air". Through legislative process and by whipping up anti-rich sentiment, Beck was able to successfully appropriate Pellatt's life work and take his electric companies from him. Beck then led a populist revolt to raise Pellatt's taxes on his castle, Casa Loma, from $600 per year to $12,000. The strain of losing all of his income, coupled with the usurous increase in property taxes for his large castle led him to rely solely on his real estate investments, which were unsuccessful due to the beginning of WWI. Once The Province expropriated his electrical power generating business, and his aircraft manufacturing business was appropriated by Beck as part of the war effort during World War I, Pellatt was driven near-bankruptcy which forced him and Lady Pellatt to leave Casa Loma in 1923. They therefore moved to their farm at Marylake in King City.
Pellatt later built Bailey House in Mimico, at the bend in Lake Shore near Fleeceline, overlooking the commercial stretch on Lake Shore (The house became a Legion Hall and was demolished to make way for a roadway). He moved in with his chauffeur Thomas Ridgway, and it was in this house that Pellatt died.[2]
Would never have known if not brought up here. I would call it more of an unfortunate and terrible sequence of events after my first read of it. Gone from rich to living with your chauffeur by government appropriation and what seems like a hate on by a politician. (Beck)
Will give me some more reading in my spare time.
