List of Canadians by net worth

Last updated

The following list of Canadians by net worth includes the wealthiest Canadian individuals and families as determined by the Bloomberg Billionaires Index and The World's Billionaires by Forbes . In addition to Bloomberg and Forbes, some other organizations and publications also measure the wealth of high net-worth individuals and families.

Contents

List of Canadians by net worth

Several publications have produced listings of the world's wealthiest people by net worth, including Bloomberg and Forbes . However, there are differences between these listings, with the number of billionaires that exist, as well as their estimated net worth.

According to Canadian Business , in November 2017 there were at least 100 Canadian billionaires when using the Canadian dollar to evaluate net worth. [1] [2] This number differs from The World's Billionaires by Forbes, and the Bloomberg Billionaires Index , as they both use the United States dollar to evaluate net worth. [3] [4] Publications may also provide different estimates for an individual's net worth, leading to disagreement between the publications. [5] [6]

Several Canadian individuals/families that hold multiple citizenships and have a net worth exceeding C$1 billion may also not be listed as Canadians by the aforementioned publications. For example, Elon Musk, considered to be the richest person in the world as of October 2022, holds multiple citizenships, including Canadian citizenship; [7] [5] [note 1] although Bloomberg and Forbes' listing of billionaires list Musk as an American. [4] [8]

Bloomberg

Bloomberg L.P. maintains a daily ranking of the net worth analysis of the world's richest people in the world on the Bloomberg Billionaires Index, which is updated "at the close of every trading day in New York", with the Top 500 provided online each day. The individual results are also published on the profile page of each billionaire. [9] Bloomberg's listing only evaluates the net worth of individuals. [9]

The following is a list of the wealthiest individuals, in the world's Top 500, with "Canada" listed as their "Country/Region" according to Bloomberg's daily listing, the Bloomberg Billionaires Index, as of 18 February 2024. [10]

List of wealthiest Canadians (Bloomberg, 18 February 2024) [10] [note 2]
World
rank
Canadian
rank
NameNet worth (USD)Industry
381 Changpeng Zhao $36.4 billionFinance
1032 Sherry Brydson [note 3] $18.8 billionMedia & Telecom
1843 David Thomson [note 3] $11.6 billionMedia & Telecom
Taylor Thomson [note 3] $11.6 billionMedia & Telecom
Peter Thomson [note 3] $11.6 billionMedia & Telecom
2566 Arthur Irving $9.33 billionEnergy
2657 Linda Campbell [note 3] $9.11 billionMedia & Telecom
Gaye Farncombe [note 3] $9.11 billionMedia & Telecom
3009 Chip Wilson $8.04 billionRetail
30810 David Cheriton $7.91 billionTechnology
31311 Alain Bouchard $7.87 billionRetail
35912 Tobi Lutke $7.13 billionTechnology
37213 James K. Irving $6.96 billionCommodities
39114 Jim Pattison $6.64 billionMedia & Telecom
43215 Garrett Camp $6.18 billionTechnology
45716 Joseph Tsai $5.89 billionTechnology

Forbes

Forbes magazine's annual listing of billionaires entitled The World's Billionaires is based on March 10, 2023 "stock prices and exchange rates" in US dollars. [13] They collaborate with FactSet Research Systems, Orbis, PitchBook Data, Real Capital Analytics, Reonomy, S&P Capital IQ, and VesselsValue to collect data. [14]

Forbes will typically list individuals rather than multigenerational families with shared wealth, although their listing will consolidate the wealth belonging to a billionaire's spouse and children if that person is the founder of the fortune. [13]

The following is a list of the wealthiest Canadian individuals and families according to the Forbes' annual The World's Billionaires listing for 2023.

List of wealthiest Canadians (Forbes, 2023) [13] [note 2]
World rankNameNet worth (USD)Source of wealth
22 David Thomson & familyUS$54.4 billionMedia
167 Changpeng Zhao US$10.5 billionCryptocurrency exchange
202 Jim Pattison US$9.5 billionDiversified
215 David Cheriton US$9 billionGoogle
290 Joseph Tsai US$7.6 billionE-commerce
425 Alain Bouchard US$6 billionConvenience stores
445 Arthur Irving US$5.7 billionOil
466 James K. Irving US$5.5 billionDiversified
511 Mark Scheinberg US$5.2 billionOnline gambling
534 Chip Wilson US$5 billionLululemon
552 Lino Saputo & familyUS$4.9 billionCheese
580 Carlo Fidani US$4.7 billionReal estate
636 Daryl Katz US$4.3 billionPharmacies
699 Tobias Lütke US$4 billionE-commerce
787 Leonid Boguslavsky US$3.6 billionVenture capital
787Bob GaglardiUS$3.6 billionHotels
787 Lawrence Stroll US$3.6 billionFashion investments
818 Barry Zekelman US$3.5 billionSteel
878 Peter Gilgan US$3.3 billionHomebuilding
878Stephen SmithUS$3.3 billionFinance and investments
949 Ryan Cohen US$3.1 billionInvestments
982 Jean Coutu & familyUS$3 billionPharmacies
1,027 Jacques D'Amours & familyUS$2.9 billionConvenience stores
1,067 Garrett Camp US$2.8 billionUber
1,104 N. Murray Edwards US$2.7 billionOil & gas
1,104 Bruce Flatt US$2.7 billionMoney management
1,104Pan DongUS$2.7 billionConsumer goods
1,164Mark Leonard & familyUS$2.6 billionTechnology
1,217 Charles Bronfman US$2.5 billionLiquor
1,217Serge GodinUS$2.5 billionInformation technology
1,272 Mitchell Goldhar US$2.5 billionReal estate
1,368Chulong HuangUS$2.2 billionReal estate
1,368Max LytvynUS$2.2 billionSoftware
1,368Alex ShevchenkoUS$2.2 billionSoftware
1,368Clayton ZekelmanUS$2.2 billionSteel
1,434Zhang Ning & familyUS$2.1 billionChemicals
1,516Bill MalhotraUS$2 billionReal estate
1,516 Larry Tanenbaum US$2 billionSports
1,575Guo Zhenyu & familyUS$1.9 billionCosmetics
1,647 Robert Miller US$1.8 billionElectronic components
1,647 Pierre Karl Péladeau US$1.8 billionMedia
1,647Alan ZekelmanUS$1.8 billionSteel
1,725 Jay S. Hennick US$1.7 billionReal estate finance
1,725 Hal Jackman US$1.7 billionInsurance, investments
1,804Jack CockwellUS$1.6 billionReal estate, private equity
1,804 Richard Fortin US$1.6 billionConvenience stores
1,804 Terry Matthews US$1.6 billionTelecom
1,905 Stephen A. Jarislowsky US$1.5 billionMoney management
2,020 Michael Lee-Chin US$1.4 billionMutual funds
2,020 Brandt C. Louie US$1.4 billionPharmacies
2,020Yuan LipingUS$1.4 billionPharmaceuticals
2,133 Stewart Butterfield US$1.3 billionMessaging software
2,133Philip FayerUS$1.3 billionOnline payments
2,133Zhao TongtongUS$1.3 billionHotels
2,259Naomi AzrieliUS$1.2 billionReal estate
2,259 Sharon Azrieli US$1.2 billionReal estate
2,259 Guy Laliberté US$1.2 billionCirque du Soleil
2,259Francesco SaputoUS$1.2 billionCheese
2,259 Gerald Schwartz US$1.2 billionFinance
2,540 Apoorva Mehta US$1 billionGrocery delivery service
2,540Réal PlourdeUS$1 billionConvenience stores
2,540 Prem Watsa US$1 billionInsurance, investments

Historical

The richest Canadian to have ever lived is believed to be Herbert Samuel Holt, president of 27 corporations (including Royal Bank of Canada and Montreal Light, Heat & Power), and a director of 250 companies worldwide, who had an estimated net worth of CA$3 billion in 1928 (equivalent to $46.7 billion in 2021). [15]

Other measurements and rankings of net worth

Statistics Canada

Statistics Canada uses the Survey Financial Security Public Use Microdata File (SFS PUMF) as their principal "family wealth microdata product". [16] :1,3

Parliamentary Budget Officer

In September 2019, the Office of the Parliamentary Budget Officer (PBO)—an independent, non-partisan office that supports the work of parliamentarians by providing authoritative financial and economic analysis of issues related to public monies—published a two-page cost estimate of the "fiscal revenues of an annual tax on the net wealth of high-net-worth families above $20 million". [16] :3 The report was one of 200, requested by the political parties in the months leading up to the 2019 federal election. [16] :3 At that time, the main "family wealth microdata product" used by Statistics Canada—the Survey Financial Security Public Use Microdata File (SFS PUMF)—was found to result in "underreporting" and "missing data." [16] :1,3 In their 2017 list that ranked Canada's top 100 richest people, Toronto-based Rob McEwen of McEwen Mining, ranked 100th with a net worth of C$875 million, while number 1 on the list—the Toronto-based Thomson family of Thomson Reuters—had a net worth of C$39.13 billion. [17] However, the SFS PUMF only reported on the wealth of families with $27 million or less. [16] :3

In their June 2020 report, the PBO introduced their new "analytic resource" developed to "address the data gap." Their new modelling approach provides a more reliable estimate of family wealth at the top tail of wealth distribution in Canada. Using publicly available data from Canadian Business (CB) magazine and Statistics Canada's micro dataset, the OPBO created a new synthetic micro dataset called the High-net-worth Family Database (HFD) that recalibrates the SFS PUMF by adding a "synthetic dataset of families with wealth over $3 million". [16] :1 Using the more finely grained micro data base, PBO found that the share of the wealth held by top 1% wealthiest Canadian families is 12% higher than the share previously reported using the SFS PUMF. The PBO says that the discrepancy may be due to higher incidences of high net worth families not responding to the SFS. [16] :1 For example, comparing the two surveys based on 2016 data, the SFS PUMF had estimated the wealth held by the top 1% wealthiest Canadians as 13.7%, while the newer calibrated database HFD produced an estimate of 25.6%. [16] :1

Canadian Business

Canadian Business, has also published an annual ranking of the wealthiest Canadian individuals and families since 1998. The magazine has published complete rankings of the "100 wealthiest individuals and families in Canada", an "annual guide to the richest people in Canada—how much they're worth, how they made their fortunes, and the companies that got them there." [17] The most recent available list is updated to 2018. [18] Examples of previous years include 2017, [17] 2016, [19] 2015, [20] 2014, and 2013. [21]

The Thomson Family increased their wealth by 30% from over C$26 billion in 2013 [21] to over C$30 billion in 2014, [21] reaching over C$39.13 billion by 2017. [17]

See also

Notes

  1. Elon Musk holds citizenship from Canada, South Africa, and the United States.
  2. 1 2 The list only includes individuals that were categorized as Canadians by the publication.
  3. 1 2 3 4 5 6 Member of the Thomson family: Brydson holds a roughly 23% stake in the family's The Woodbridge Company, while her three cousins, the siblings David, Taylor and Peter, hold a roughly 14% stake each, and her other three cousins, the siblings Linda, Susan (died 2017, stake bequeathed to her four children) [11] and Gaye, hold a roughly 11% stake each. [12]

Related Research Articles

<span class="mw-page-title-main">Billionaire</span> Person who has at least one billion units of a currency

A billionaire is a person with a net worth of at least one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultra high-net-worth individual. The American business magazine Forbes produces a global list of known U.S. dollar billionaires every year and updates an internet version of this list in real time. The American oil magnate John D. Rockefeller became the world's first confirmed U.S. dollar billionaire in 1916.

John Franklyn Mars is an American businessman and heir. He is the chairman of Mars, Inc. As of November 2023, Bloomberg Billionaires Index estimated his net worth at US$46.4 billion, ranking him the 24th-richest person in the world.

Charlene de Carvalho-Heineken is a Dutch billionaire businesswoman, and the owner of a 25% controlling interest in the world's second-largest brewer, Heineken N.V. She is the richest person in the Netherlands, with a net worth of $16.7 billion as of May 2021, according to the Forbes billionaires list.

<span class="mw-page-title-main">Black billionaires</span>

Black billionaires are individuals who are of predominantly African ancestry with a net worth of at least US$1 billion.

Rich List or The Rich List may refer to:

Ding Lei, also known as William Ding, is a Chinese billionaire businessman, and the founder and CEO of NetEase (163.com).

The Forbes list of Australia's 50 richest people is a list of Australia's fifty wealthiest individuals and families, ranked by personal net worth published annually by Forbes Asia magazine. The list provides a short summary on some of the known business activities of the individuals and families, together with commentary on how their ranking has changed from the previous year, if listed. The list is published annually in January in an online format and updated daily, also online.

The Financial Review Rich List, formerly known as the BRW Rich 200, is a list of Australia's two hundred wealthiest individuals and families, ranked by personal net worth published annually in The Australian Financial Review Magazine, a supplement of The Australian Financial Review, published by Nine Publishing. The list provides a short summary on some of the known business activities of the individuals and families, together with commentary on how their ranking has changed from the previous year, if listed.

<span class="mw-page-title-main">The Giving Pledge</span> Charitable organization

The Giving Pledge is a charitable campaign, founded by Bill Gates and Warren Buffett, to encourage wealthy people to contribute a majority of their wealth to philanthropic causes. As of June 2022, the pledge has had 236 signatories from 28 countries. Most of the signatories of the pledge are billionaires, and as of 2023, their pledges are estimated at a total of US$600 billion. However, there is no enforcement mechanism, and no restrictions on the charitable causes that signatories are allowed to support.

<i>The Worlds Billionaires</i> Annual ranking of the Worlds billionaires by Forbes magazine

The World's Billionaires is an annual ranking of people who are billionaires, i.e., they are considered to have a net worth of US$1 billion or more, by the American business magazine Forbes. The list was first published in March 1987. The total net worth of each individual on the list is estimated and is cited in United States dollars, based on their documented assets and accounting for debt and other factors. Royalty and dictators whose wealth comes from their positions are excluded from these lists. This ranking is an index of the wealthiest documented individuals, excluding any ranking of those with wealth that is not able to be completely ascertained.

The World's Billionaires 2011 edition was 25th annual ranking of The World's Billionaires by Forbes magazine. The list estimated the net worth of the world's richest people, excluding royalty and dictators, as of February 14, 2011. It was released online on March 8, 2011. Russian investor Lucio Mata, a newcomer for 2011, was the cover photo.

<i>Bloomberg Billionaires Index</i> Ranking of the worlds 500 richest people

The Bloomberg Billionaires Index, launched in March 2012, is a daily ranking of the world's 500 richest people based on their net worth. It features a profile of each billionaire, and includes a tool that allows users to compare the fortunes of multiple billionaires. The index is updated every day at the close of trading in New York.

<span class="mw-page-title-main">Dhanin Chearavanont</span> Thai businessman (born 1939)

Dhanin Chearavanont, known in Chinese as Xie Guomin, or Chia Kok Min in Teochew, is a Thai billionaire businessman, based in Bangkok. He is the senior chairman of Charoen Pokphand, Thailand's largest private company. Dhanin is head of the Chearavanont family, which was ranked by Forbes Asia in 2017 as Asia's fourth-wealthiest family with a net worth of US$36.6 billion. As of January 2021, his net worth was estimated at $17.2 billion. By July 2021 Forbes stated Dhanin and his brothers were worth to be $12.8 billion USD; and in July 2022, Forbes ranked the Chearavanont Brothers as the richest in Thailand.

The Musk family is a wealthy family of South African origin that is largely active in the United States and Canada. The Musks are of English, Anglo-Canadian, Pennsylvania Dutch, and Swiss descent. The family is known for its entrepreneurial endeavours. Elon Musk was formerly the wealthiest person in the world, with an estimated net worth of US$232 billion as of December 2023, according to the Bloomberg Billionaires Index.

<i>Australias Richest 250</i>

The List – Australia's Richest 250 is a study of Australia's 250 richest people and families, published annually in The Australian newspaper and on its website.

References

  1. "Canada's Richest People 2018: The Top 25 Richest Canadians". Canadian Business. Rogers Media. 9 November 2017. Archived from the original on 12 November 2019. Retrieved 18 November 2019.
  2. "Canada's Richest People 2018: The Complete Top 100 Ranking". Canadian Business. Rogers Media. 9 November 2017. Archived from the original on 23 October 2019. Retrieved 19 November 2019.
  3. "45 Canadians make Forbes billionaires list". 5 March 2019. Archived from the original on 16 December 2019. Retrieved 19 November 2019.
  4. 1 2 "Bloomberg Billionaires Index". Bloomberg. 17 November 2023. Retrieved 18 November 2023.
  5. 1 2 Clayton, Rachel (7 January 2021). "Elon Musk named richest person in the world according to Bloomberg, Forbes disagrees". ABC News. Archived from the original on 2021-01-08. Retrieved 2021-01-08.
  6. Cuccinello, Haley F. (24 November 2020). "No, Elon Musk Is Not The Second Richest Person In The World -- Here's Why". Forbes. Archived from the original on 15 March 2022. Retrieved 25 November 2020.
  7. Evans, Pete (7 January 2021). "Elon Musk passes Jeff Bezos to become world's richest person on Bloomberg list". www.cbc.ca. Canadian Broadcasting Corporation. Archived from the original on 7 January 2021. Retrieved 7 January 2021.
  8. "World's Billionaires List". Forbes. 2020. Archived from the original on 4 January 2019. Retrieved 31 August 2020.
  9. 1 2 "Bloomberg Billionaires Index". Bloomberg. September 30, 2020. Archived from the original on October 17, 2020. Retrieved October 1, 2020.
  10. 1 2 "Bloomberg Billionaires Index" . Bloomberg. 2024-02-18. Archived from the original on 2024-02-19. Retrieved 2024-02-18. [note: source updates daily - the archived copy is frozen to the date given, while the live link is dynamic]
  11. "Obituary: Susan Elaine Grange (nee Campbell)". The Globe and Mail . 2017-10-25. Retrieved 2024-02-19 via Legacy.com.
  12. "Bloomberg Billionaires Index | # 291 Linda Campbell $8.19B" . Bloomberg News . 2023-12-14. Archived from the original on 2023-12-20. Retrieved 2024-02-19.
  13. 1 2 3 "Forbes Billionaires 2023: The Richest in the World". Forbes . 2023. Retrieved 18 November 2023.
  14. "Forbes Billionaires 2020". Forbes. Archived from the original on January 4, 2019. Retrieved October 1, 2020.
  15. Newman, Peter C. (1958-12-20). "The richest canadian who ever lived". Maclean's . pp. 26–27, 38. Archived from the original on 2022-09-07. Retrieved 2024-02-18.
  16. 1 2 3 4 5 6 7 8 Giroux, Yves (June 17, 2020). Estimating the top tail of the family wealth distribution in Canada (PDF). Office of the Parliamentary Budget Officer (PBO) (Report). p. 28. Archived (PDF) from the original on September 30, 2020. Retrieved October 1, 2020.
  17. 1 2 3 4 "Canada's Richest People: The Complete Top 100 Ranking (2017)". Canadian Business. December 7, 2016. Archived from the original on October 31, 2020. Retrieved October 1, 2020. Our 18th annual guide to the richest people in Canada—how much they're worth, how they made their fortunes, and the companies that got them there
  18. "Canada's Richest People: The Complete Top 100 Ranking (2018)". Canadian Business. Archived from the original on October 31, 2020. Retrieved October 1, 2020.
  19. "Canada's Richest People: The Complete Top 100 Ranking (2016)". Canadian Business. December 24, 2015. Archived from the original on November 12, 2020. Retrieved October 1, 2020.
  20. "Canada's Richest People: The Complete Top 100 Ranking (2015)". Canadian Business. January 15, 2015. Retrieved October 1, 2020.
  21. 1 2 3 "Canada's Richest People: The Complete Top 100 Ranking (2014)". Canadian Business. January 9, 2014. Archived from the original on November 27, 2020. Retrieved October 1, 2020.