The tree will live. Perhaps you could temporarily leave the damaged trunk in place and use it as a stake to tie the highest branch to so it goes to the vertical as the new leader.

Alternately, wait for a smaller branch to emerge from the old trunk & prune that to the vertical. You didn't say what kind of tree it is, but if it's growth habit is upright, it's likely strongly apically dominant. Cutting the 2 existing branches back hard next spring & allowing the new leader to grow freely will put things back on track quickly.

Al

I have around a 40+ year old maple and the wind storm broke off one of the three major branches (main trunk like branch) and i havent seen any new growth and on the broken one it makes the tree look very lop sided. can i do something to make the trunk branch grow new growth. its about 4 ft long and no branch off it yet. This tree was planted when i was born so its kinda special. can you help. what should i keep and eye out for as far as sickness on that trunk branch,. Thank you Teresa