In a major announcement from Monday’s 2024 Fall Economic Statement, Terry Fox—a beloved Canadian hero—will become the new face of Canada’s $5 banknote.
The news comes on a chaotic day in Ottawa, marked by the unexpected resignation of Chrystia Freeland as minister of finance, just hours before she was set to release the statement.
Terry Fox is widely celebrated for his Marathon of Hope, a cross-Canada run that aimed to raise awareness and funds for cancer research. Beginning in 1980, Fox ran the equivalent of a marathon—42 kilometres—every day on a prosthetic leg, demonstrating extraordinary willpower and determination. By the time his marathon was cut short near Thunder Bay, Ont., as the cancer spread to his lungs, Fox had inspired Canadians to donate $1 for every citizen—a total of $24.7 million by February 1981. Tragically, Fox succumbed to the disease later that year at the age of 22.
Today, Terry Fox Runs are held annually in communities across Canada and around the world, continuing his mission to fund cancer research. His legacy remains an enduring symbol of perseverance, selflessness, and the power of ordinary individuals to create extraordinary change.
To further his impact, the government hopes to inspire Canadians to “give $5 to the cause Terry Fox championed” with his likeness now set to appear on the new $5 bank note. Meanwhile, Sir Wilfrid Laurier, who currently graces the $5 note, will move to the next version of the $50 note.
The decision to honour Terry Fox on the $5 bill reflects both his cultural significance and the ongoing importance of cancer research in Canada. As Canadians prepare to see his image on currency, it serves as a reminder of Fox’s enduring message: “I want to try the impossible to show it can be done.”
The Bank of Canada’s independent seven-person advisory council unveiled its shortlist of eight iconic Canadians who could be featured on the next $5 banknote in 2020.
It came after the council’s evaluation of more than 600 eligible nominees submitted by nearly 45,000 Canadians between late January and mid-March of that year. The shortlist was unveiled on Nov. 9, 2020, before being submitted to Chrystia Freeland, finance minister and deputy prime minister, who, at the time, was expected to announce the next portrait subject of the new $5 note in early 2021.
In alphabetical order, the shortlist included:
- Pitseolak Ashoona (circa 1904/1908-83), who was a self-taught artist whose work has been exhibited internationally and held by museums and galleries throughout Canada;
- Robertine Barry (1863-1910), also known by her literary pseudonym Françoise, who was the first female French-Canadian journalist and an advocate for many social causes, including gender equality;
- Francis Pegahmagabow (1888-1952), also known by his Ojibwe name Binaaswi (“the wind that blows off”), a First World War veteran who was the most highly decorated Indigenous soldier in Canadian history;
- Won Alexander Cumyow (1861-1955), who was the first known Chinese-Canadian born in Canada and used his language skills to bridge the divide between Vancouver’s English-speaking and Chinese communities;
- Terry Fox (1958-81), who campaigned to raise awareness and funding for cancer research through his “Marathon of Hope,” which raised $24.7 million – $1 for every Canadian – by February 1981;
- Lotta Hitschmanova (1909-90), a Czech-born refugee who came to Canada in 1942 before becoming one of the country’s earliest grassroots humanitarians;
- Isapo-muxika (circa 1830-90), also known as Crowfoot, who was the leader of the Blackfoot Confederacy and a key figure in the Treaty 7 negotiations; and
- Frederick Ogilvie Loft (1861-1934), also known by his Mohawk name Onondeyoh, who was a chief, First World War veteran, activist and founder of the first pan-Canadian Indigenous organization in 1918.
Among the eight shortlist finalists, Fox, a native of Port Coquitlam, B.C., was the “run-away choice,” according to a 2020 Angus Reid Institute survey.