Top 10 Richest People & Families in Canada Today
There are reportedly 2,755 billionaires on Earth, with an estimated total net worth of $13.1 trillion. Here are the people and fmilies currently considered the wealthiest in Canada at the time of updating this article—August 2021—according to the Bloomberg Billionaire Index and Forbes List.
The Top 10 Richest People and Richest Families in Canada in Detail
1. Thomson Reuters and Family, Net Worth: 41 billion dollars
With 41 billion under his chair, Thomas Reuters and his family are the richest people in Canada.
Thomas Reuters is the man behind the international news service Reuters. His news company has become world-famous for providing reliable, timely, fair, and balanced reporting on social, political as well as economic activities around the world.
As of now, the company has over 25 thousand workers and yearly revenue in excess of 5 billion dollars. The company is traded on the floor of the Toronto Stock Exchange.
David Thomson and his family control a media and publishing empire founded by his grandfather Roy Thomson.
The family's biggest holding: more than 320 million shares of Thomson Reuters, where Thomson serves as chairman.
In 2018, Thomson Reuters announced it was selling a controlling stake in Refinitiv, a financial data provider, to Blackstone for $17 billion.
The family also holds a stake in telecom giant Bell Canada and own the Toronto-based Globe and Mail newspaper.
2. Tobias Lütke, Net Worth: $12.9 billion
Second, on the Canada richest list is Tobias Lutke. He is co-founder and chief executive officer of Shopify, a cloud-based commerce platform for small and medium-sized businesses. The German-born Canadian entrepreneur started the company in 2004 and has been its chief executive since 2008. Shopify is used by more than 1 million businesses around the world. Lutke’s fortune is derived from Shopify, the cloud-based commerce platform used by more than 1 million businesses around the world, according to the company’s website.
The billionaire has about 7% of Shopify shares, according to its company’s 2021 proxy circular. He owns 7.48 million Class B shares, which are immediately exchangeable to Class A common shares on a one-for-one basis. He also has about 558,000 in the money vested options.
Sherry Brydson, Net Worth: $13.4 billion - the richest person in Canada?
Aaccording to the Bloomberg Billionaire Index, Sherry Brydson is the richest person in Canada with a combined networth of $13.4 Billion.
Brydson is the largest shareholder of Woodbridge, an investment firm that controls Thomson Reuters. The Ontario, Canada-based firms own two-thirds of the financial data and services provider, which had revenue of $6 billion in 2020. She owns about 23% of Woodbridge’s assets and her relatives own the rest.
The majority of Sherry Brydson’s wealth is derived from Woodbridge, an investment firm that manages the family fortune originated by Canadian media magnate Roy Thomson. After his death in 1976, Thomson’s estate was divided between his three children. His son, Kenneth, inherited 42% and his two daughters, Audrey and Irma, received 33% and 23%, respectively, according to a person familiar with the family’s assets who asked not to be identified because Woodbridge is closely held.
Each heir evenly split their share between Woodbridge among their children, the source said. David and his two siblings, Peter and Taylor, each received 14% of Woodbridge. Each of Audrey’s three children, Linda Campbell, Susan Grange, and Gaye Farncombe, received 11%. Sherry Brydson, the only child of Irma, owns about 23%.
3. Joseph Tsai and family, Net worth: 12 billion dollars
|Joseph Tsai - Top Richest in Canada|
Taiwan-born Tsai carries a Canadian passport.
He holds two degrees from Yale University--an undergraduate degree in economics and East Asian studies and a law degree.
This mega-wealthy man owns the Brooklyn Nets but somehow that's not even his main claim to fame. He is the vice-chairman and co-founder of Alibaba Group. If you shop Alibaba, you have this guy to thank.
In 2018, he bought 49% of the Brooklyn Nets National Basketball Association team; the following year he purchased the remaining 51%.
Tsai is a co-founder of Alibaba Group, China’s biggest e-commerce company. The Hangzhou-based business operates Taobao, an online shopping site, and Tmall, a platform that lets companies open online stores. It had revenue of 717 billion yuan ($106 billion) and 726 million active customers in the year to March 31, 2021.
The majority of Tsai’s wealth is derived from his 1.7% stake in Alibaba Group, China’s biggest e-commerce company. The group had revenue of 717 billion yuan ($106 billion) and 726 million active customers in the year to March 31, 2021, according to a 13D filing in February 2021.
The billionaire holds a 1.4% stake directly and through holding companies based in the Bahamas and the British Virgin Islands, according to the filing.
About 30% of his shares are held by APN, a Cayman Islands-based company in which Tsai has a 30% equity interest. Pledged shares held through APN are included in the calculation because they’re pledged for a liquidity event payment that may not become due.
4. Rogers Family , Net Worth: 11 billion dollars
If you watch Omni Sports, or if you use Rogers communications, then take a minute to salute the family behind these companies. The Rogers Family is valued at somewhere around 11 billion dollars.
The family was founded by Edward S. Rogers Sr. who in 1925 invented the world’s first alternating current (AC) heater filament cathode for a radio tube. This was a great technological feat and opened a lot of doors for him. Sadly, however, he died before he reached 40.
However, his son Ted Rogers and broadcaster friend Joel Aldred raised money to found Aldred-Rogers Broadcasting and then bought the CHFI FM radio station in Toronto. They then went on to establish a television station, a telephone company, and now they even have a bank.
The Rogers family control at least 6 companies and they have at least 6 family members sitting on the board of directors of the holding company. Edward S Rogers Sr. would be so proud of what his family has become.
David Cheriton, Net Worth: $8.8 billion
Cheriton is a professor at Stanford who made his billions by investing early in Google. He's also a data scientist who has founded a few tech companies.
"Professor Billionaire" David Cheriton, who is professor emeritus at Stanford University, made his fortune thanks to an early investment in Google.
Cheriton and Andreas von Bechtolsheim (also now a billionaire) each invested $100,000 in Google when it was just getting started.
The pair cofounded 3 companies: Arista Networks (IPO in 2014), Granite Systems (sold to Cisco in 1996) and Kealia (sold to Sun Microsystems in 2004).
Cheriton resigned from Arista's board in March 2014 and has been unloading his stock; he still owns nearly 10% through a trust for his children.
Cheriton became chief data center scientist at Juniper Networks after the acquisition of his company Apstra in 2021.
Anthony von Mandl, Net Worth: $8.49 billion- Bloomberg Billionaire Index
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. The Vancouver-based company distributes wines, spirits and beer and had sales of $4 billion in 2020. Von Mandl also owns wineries in Canada’s Okanagan Valley.
The majority of von Mandl’s net worth comes from the Mark Anthony Group, a producer, importer and distributor of alcoholic beverages.
Mark Anthony Group had sales of $4 billion in 2020, according to information provided by the company to Bloomberg News. It’s valued using the enterprise value-to-sales multiple of three publicly traded peers: National Beverage Corp, Molson Coors Beverage Co, and Heineken NV. The financials and peer group used in the analysis were updated on March 9, 2021, and this led to an increase in the calculation of about $1.7 billion.
Von Mandl also owns at least six wineries in the Okanagan Valley, a wine-growing region in British Columbia, as well as additional vineyards. The calculation is based on the wineries appraised values, according to local tax records, while an estimated additional 1,000 acres of vineyards are valued at C$200,000 per acre, based on information provided in November 2019 by John Schreiner, a wine writer based in Vancouver.
5. Galen Weston Family, Net Worth: 8 billion dollars
Sitting on a fortune of about 8 to 13.55 billion dollars, Galen Weston and his family are the next on our list of the richest families in Canada. Galen Weston comes from Britain originally, but love (and money) can take a man anywhere.
Galen Weston is the chairman emeritus of George Weston Limited, which has become the leading Baking, as well as food processing and distribution conglomerate in Canada.
As a matter of fact, the company is growing at a rapid pace; they recently acquired the Ogilvy department store in Montreal. Other investments are controlling interest in Loblaw Companies. Ownership of the world’s second-largest luxury goods retailer; Holt Renfrew.
He is also the owner of the Selfridges Group, which operates the Selfridges in the United Kingdom, Brown Thomas in Ireland, and also the De Bijenkorf department store chain in the Netherlands. He has donated over 200 million to charity.
6. Irvin Family, Net Worth: 7.3 billion dollars
The Irvin Family, which has been one of Canada’s wealthiest families for quite some time comes in next on our list. The family is worth around 7.38 billion dollars.
Some of their business interests include Irvin Oil, a shipbuilding establishment, a lumber company, and a paper making company.
They have expanded their business presence into America as well. Some notable members of the family are Jim Irving, Sarah Irving, Robert Irving, Arthur Irving, and Leigh Irving.
7. James Pattison and Family, Net Worth: 6.41 billion dollars
Pattison makes his bank from a whole bunch of different sources. He's the name behind things like Guinness World Records and Ripley's Believe It Or Not! Beyond that, he has 25 divisions under his name in packaging, food, and entertainment. You've likely heard him mentioned on the radio because his brand controls a whole bunch of popular stations.
With an estimated fortune of about 6.41 billion dollars, the Family of James Pattison is one of the richest and most powerful families in Canada.
92-year-old James Pattison is a seasoned investor, industrialist, and philanthropist. In fact, they call him Canada’s Warren Buffet. His children are Mary Ann Pattison, Cynthia Pattison, Jim Pattison Jr. how blessed they are to learn money management from such a man!
Jim Pattison oversees a sprawling group that operates 25 divisions including packaging, food and entertainment.
Pattison's first business was a GM dealership he bought in 1961.
The Canadian billionaire also controls more than 40% of publicly-traded forest products company Canfor.
His entertainment division includes Guinness World Records, the Ripley's Believe It Or Not! chain and Great Wolf Lodge's Canadian franchise rights.
Pan Dong, Net Worth: $6.8 billion
This Canadian woman is most known for her work at Blue Moon Group, where she is the chair. Blue Moon Group supplies liquid detergent and soap. Dong has worked her way up from technical consultant to CTO and now chair.
Pan chairs the Blue Moon Group, a supplier of liquid detergent and soap.
Pan is the wife the Blue Moon's founder and CEO Luo Qiuping.
Pan was a technical consultant until her formal appointment as Blue Moon's chief technology officer in 2003.
Blue Moon was founded in the southern Chinese city of Guangzhou in 1994.
8. Saputo Family, Net Worth: 5.2 billion dollars
All the way from Italy, Emanuele “Lino” Saputo, and his Family come in next on this prestigious list; his Saputo Corporation is a cheesemaker of giant proportions. Lino and his family sit on a fortune in excess of around 5.2 billion.
Members of the Saputo family are Mirella Saputo, Elina Saputo, Frank Saputo, Maria Saputo, Antonina Saputo, Luigi Saputo, Rosalia Saputo, Joey Saputo, Nadia Saputo, and Lino Saputo Jr.
The Saputo Corporation has about 16,800 workers and declared C$731.1 million in income for the year 2017. That makes them one of the biggest suppliers of dairy products in the world.
9. Richardson Family, Net Worth: 6.55 billion dollars
The Richardson Family sits on a fortune of about 6.55 billion dollars. They are the family behind James Richardson and Sons which is a holding company set up by their father. Through this company, they control several businesses.
They have interests in agriculture, food production, finance, oil and gas, and insurance. Some of their companies are Richardson International, Richardson GMP, Tundra Energy Marketing, Tundra Oil & Gas, Wynward Insurance, Richardson Financial Group, Richardson Centre Limited.
10. Desmarais Family, Net Worth: 5.5 billion dollars
The Desmarais Family which was established by Late Paul Guy Desmarais is one of the wealthiest, and most powerful families in Canada, and the World.
Their father Paul Desmarais built up the Power Corporation of Canada. The company originally dealt with power supply but branched out to finance, and asset management.
The Desmarais family is currently led by the brothers, Paul Jr. and Andre Desmarais. Together they control an empire estimated to be worth around 5.5 billion dollars.
Top 10 richest Canadians on Forbes' Billionaires List for 2021 (and World Richest)
33. David Thomson (Thomson-Reuters)- $41.8B (1)
232. Tobi Lutke (Shopify)- $9.8B (2)
241. Jim Pattison (Multiple holdings)- $9.6B (3)
274. Anthony von Mandl (White Claw/Mike’s Hard Lemonade)- $8.7B (4)
486. Emanuele Saputo (Saputo Inc.)- $5.7B (5)
574. Chip Wilson (Lululemon shareholder)- $4.9B (6)
680. Alain Bouchard (Couche-Tard)- $4.2B (7)
680. James Irving (Multiple holdings)- $4.2B (8)
807. Peter Gilgan (Mattamy Homes)- $3.7B (9)
831. Daryl Katz (Katz Group of Companies) – $3.6B (10)