Who are Canada’s richest people?
Canadian Business has put together its 17th annual ranking of the wealthiest individuals and families in the country. We summarised it's findings:
1. Thomson Family
Total Net Worth: $36.76 billion
Change from last year: 20%
David Thomson is the chairman of Thomson Reuters. Gains at Thomson Reuters were an important factor in the $6 billion increase the family saw in their collective net worth over the past year.
2. Galen Weston
Total Net Worth: $13.67 billion
Change from last year: 20%
The 74-year-old chairs George Weston Ltd. a food-processing and distribution company founded by his grandfather in 1882. He also owns a range of department stores, which includes Selfridges and Holt Renfrew.
3. Garrett Camp
Total Net Worth: $9.18 billion
New for 2016
Garret Camp and his friend Travis Kalanick invented Uber. The firms valuation is close to US$70 billion.
4. Rogers Family
Total Net Worth: $8.86 billion
Change from last year: %u25B2 20%
Rogers Communications increased its share price this year by negotiating a $465-million deal for rival Mobilicity and acquiring unused wireless spectrum from Shaw. The Rogers also own the Toronto Blue Jays.
5. Irving Family
Total Net Worth: $7.50 billion
Change from last year: %u25BC 9%
Irving oil is run by fourth generation Irvings. Jim Irving heads the forestry and the shipbuilding arms, while Sarah Irving has just been installed on the executive team of Irving Oil. The firm is undertaking a $200 million maintenance project at its Saint John refinery.
6. Joseph Tsai
Total Net Worth: $7.30 billion
New for 2016
Heard of Alibaba? Joseph Tsai is founder Jack Ma’s right hand man. Tsai was reportedly instrumental in getting early funding for the e-commerce brand.
7. James “Jimmy” Pattison
Total Net Worth: $6.89 billion
Change from last year: %u25BC 12%
Pattison is known as the man who saved Expo 86 and helped get the 2010 Olympic bid finalised. He is the CEO of the Jim Pattison Group, the second largest privately held company in Canada
8. Saputo Family
Total Net Worth: $6.43 billion
Change from last year: %u25B2 3%
Giuseppe Saputo founded Saputo Inc., A Montreal-based dairy company, in 1954. Now, his grandchildren run the $12-billion multinational corporation today, which is one of the top 10 dairy producers in the world.
9. Estate of Paul Demarais Sr.
Total Net Worth: $6.10 billion
Change from last year: %u25B2 9%
Paul Desmarais produced Power Corp an international financial services conglomerate that includes Great-West Lifeco and IGM Financial. Desmarais’ children Paul Jr. and André, run the operation today.
10. Richardson Family
Total Net Worth: $5.63 billion
Change from last year: %u25B2 12%
James Richardson & Sons Ltd. started off selling grain, and 158 years later has ventured into financial services and oil and gas.
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Read the October 2016 issue of Business Review USA & Canada magazine
SOURCE: [Canadian Business]
