The Full List of Canadian Billionaires In 2023 - Who Are The Richest People In Canada?

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It is true that Canada is home to a lot of billionaires. Some of Canada’s richest citizens started their companies less than 10 years ago while others inherited their money. A billionaire’s fortunes can swing by millions of dollars each day, and each way, with the whims of the stock market.

How many billionaires does Canada have?

Canada is one of the countries in the world known for economic and political stability. The country produced a total of 67 billionaires, making them the eighth country with the highest billionaire in the world.

First off, a report states that 67 billionaires now reside in Canada, with a total fortune of US$100 billion, an increase of 15%. (or 4.5 per cent). It is true that there are many billionaires in Canada. Some of Canada’s richest people inherited their wealth, while others launched their businesses less than ten years ago.

The whims of the stock market can cause a billionaire’s fortune to fluctuate by millions of dollars every day and in either direction.

While the majority of today’s billionaires are younger than those of the past, several heritage family institutions still control a significant portion of the nation’s wealth. But who are these billionaire family empires, exactly? The 20 families listed below are important to remember.

Who are richest people in Canada?

1. David Thomson

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David Thomson is the richest man in Canada.

David Thomson is the richest man in Canada in 2023; he is the grandson of Roy Thomson, founder of Thomson Corporation. With an estimated net worth of $52.2 Billion. He became the chairman of Thomson Corporation and also inherited his father’s British title, Baron Thomson of Fleet.

The Canadian/British hereditary peer and media tycoon was born on June 12, 1957.

After his father passed away in 2006, Thomson took over as chairman of Thomson Corporation and was given the British title of Baron Thomson of Fleet. After Reuters was acquired in 2008, Thomson was named chairman of the new company, Thomson Reuters.

With an estimated net worth of $52.4 billion as of November 2022, Thomson is the richest person in Canada and the 23rd richest in the entire globe. David Thomson is first on our list of the top 10 richest people in Canada.

Thomson started his business career as a junior associate at McLeod Young Weir in Toronto. He left the firm to enter the family business, working in several positions in companies controlled by the Thomson family.

Trying to develop a business outside the family fortune he founded Osmington Incorporated, a real estate firm that acquires and manages commercial real estate assets on behalf of institutional shareholders. Thomson is also the chairman of the Globe and Mail newspaper, Woodbridge, and Thomson Reuters after the corporation acquired Reuters in 2008.

READ MORE: Who Is Bernard Arnault - World’s Richest Man in 2023: Biography, Personal Life, Net Worth

2. Changpeng Zhao

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Changpeng Zhao, who goes by "CZ," spent his teen and young adult years in Canada and is a Canadian citizen. In 2017, he founded Binance, which became the biggest cryptocurrency exchange in the world. He is a major shareholder and the company's CEO. The exchange's high daily trading volume is a big earner, and Zhao also holds a fortune's worth of cryptocurrency.

3. Jim Pattison

Jim Pattison is the founder of the Jim Pattison Group, which is a large business conglomerate that has interests in a variety of sectors, including grocery store chains and the automotive industry. The business is the second-largest privately held company in Canada, with 45,000 employees and $10 billion in revenue in 2017. Pattison operates the Jim Pattison Children's Hospital Foundation and, in 2018, donated more than $100 million to hospitals in Vancouver and in his birthplace of Saskatoon, Saskatchewan.

He opened a Pontiac dealership in 1961; 25 years later, he was selling more cars than anyone else in Western Canada. He grew his business to include other companies such as Overwaitea Foods, Ripley’s Believe It Or Not!, Save-On-Foods, Guinness World Records and numerous TV and radio stations across British Columbia, Alberta, Saskatchewan and Manitoba.

4. David Cheriton

David Cheriton is a Professor at the University of Stanford. He is one of the richest people in Canada with an estimated net worth of $9.3 Billion according to Forbes Billionaire Index. He made his fortune thanks to an early $200,000 investment in Google.

Aside from his Google Investment David has also founded several different companies. One of which is Arista Networks, which went public in 2014; Kealia, which was sold to Sun Microsystems in 2004 and Granite Systems, which was sold to Cisco in 1996.

He is an authority on distributed computing and computer networking, and he has knowledge of how to spot significant market opportunities and develop the architectures required to take advantage of them.

READ MORE: Top 7 Richest Kids in the World in 2023

5. Joseph Tsai

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Joseph Tsai is a co-founder of Alibaba Group Holding Ltd., a Chinese-based internet company, and has spent more than 20 years with the business, serving as CFO and executive vice chairman of the company's board. Tsai owns the Brooklyn Nets; the New York Liberty, a Women's National Basketball Association team; and the San Diego Seals, a professional indoor lacrosse team. He also is the chairman of J Tsai Sports, which has invested in several sports media and technology companies.

6. Anthony Von Mandl

Anthony von Mandl is the founder and chief executive of the Mark Anthony Group, an alcoholic drinks producer and the maker of Mike’s Hard Lemonade. He is one of the richest people in Canada in 2022, with an estimated net worth of $8.4 Billion.

He began his career in the Canadian wine business as an importer in the 1972s at age 22. The wine-importing business later became the Mark Anthony Group. In 1981, he bought his first winery in the Okanagan Valley, Canada where he began producing wines as well as ciders. He has since then acquired at least six wineries in the region.

According to Bloomberg, the Vancouver-based company distributes wines, spirits and beer and has annual sales of about $4 billion. Anthony is sixth among the top 10 richest people in Canada

7. Mark Scheinberg

Mark Scheinberg is an Israeli-Canadian businessman, investor and billionaire with an estimated net worth of $5.3 Billion. He is the co-founder of the online gambling company PokerStars, the world’s largest online poker business.

Scheinberg founded PokerStars with his father Isai Scheinberg, the company was however acquired by the Canadian publicly listed company, Amaya Gaming Group for $4.9 billion.

Mark used the money to establish Mohari Hospitality, an investment company, developing luxury real estate and leisure destinations worldwide. Mark Scheinberg is also among the richest people in Canada.

8. Alain Bouchard

Alain Bouchard was born in 1949, one of six children, and despite family hardships in his youth, he went on to be part of the executive team that founded Alimentation Couche-Tard Inc. in 1980. He eventually served as its president and CEO until 2014. While at the helm of Couche-Tard, it became Canada's leading convenience store chain and the largest independent convenience store operator in the United States. In 2012, Bouchard was named Canada's outstanding CEO of the year. He and his wife have a child with an intellectual disability, which led them to fund related research at McGill University.

9. Huang Chulong

Taking ninth place among the richest people in Canada in 2023 with a net worth of $5 Billion is the 62-year-old Chinese entrepreneur, Huang Chulong. He is the Chief executive officer of Galaxy Holding Group.

Galaxy Holding Group is a parent company covering a slew of Chinese businesses in sectors as varied as finance and investment, real estate development, hotels, shopping centres, property management, and energy. The company was involved in developing over 538 million square feet of real estate in China.

Chulong also holds 85% of the shares of the Shenzhen Galaxy Commercial Property Investment.

10. Tobi Lutke

Tobi Lutke with an estimated net worth of $5 Billion, concludes the list of the top 10 richest people in Canada in 2022. The 42-year-old entrepreneur is the founder of CEO of Shopify, an e-commerce company based in Canada.

Lutke began his entrepreneurial journey by co-founding Snowdevil, an online snowboard shop in 2004 with his partners, Daniel Weinand and Scott Lake. Soon they shifted their focus from snowboards to e-commerce and launched Shopify in 2006.

Shopify is presently used by more than 500,000 merchants to sell their goods and services online. Tobi presently owns 7% of the company, which went public in 2015.

What families are the richest in Canada?

1. The Thomson Family

The Thomson family is not only the richest family in Canada but is also one of the richest families in the world. Patriarch David Thomson, or Baron Thomson of Fleet, inherited his British title and the Thomson Corporation from his father. He then turned the family business into media giant Thomson Reuters.

2. The Weston Family

Weston's family holding company has the controlling interest in Loblaw. Weston also owns the iconic Ogilvy in Montreal and famous retail chains like Selfridges in the United Kingdom.

3. The McCain Family

McCain Foods was founded in 1956 by brothers Wallace and Harrison McCain, with some help from their two older brothers, Robert and Andrew. Wallace and Harrison built the company into what is without a doubt one of Canada’s most successful brands. However, after they had a falling-out in the 1990s, Wallace and his son left the company and bought Maple Leaf Foods.

4. The Coutu Family

Pharmacists have one of the highest paying jobs in the world, so it could have been a blow for a recent pharmacy graduate to be refused when he asked to become an associate of the pharmacy he had managed as a student. Instead, Jean Coutu started his own chain of pharmacies and became the head of one of Canada’s richest families.

5. The Saputo Family

Giuseppe Saputo, an Italian cheesemaker, immigrated with his family to Montreal in the 1950s. In 1954, his son Lino convinced him to start a business. Saputo Inc. was founded with $500 and a bicycle. Today, it’s one of the world’s top dairy brands.

Full list of Canadian billionaires

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