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List of Canadians by net worth

From Wikipedia, the free encyclopedia

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.

List of Canadians by net worth

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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;[6][7][note 1] although Bloomberg and Forbes' listing of billionaires list Musk as an American.[4][8]

Bloomberg

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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 1 June 2024.[10]

List of wealthiest Canadians (Bloomberg, 1 July 2024)[10][note 2]
World
rank		 Canadian
rank		 Name Net worth (USD) Industry
42 1 Changpeng Zhao $37.9 billion Finance
101 2 Sherry Brydson[note 3] $19.7 billion Media & Telecom
178 3 David Thomson[note 3] $12.2 billion Media & Telecom
Taylor Thomson[note 3] $12.2 billion Media & Telecom
Peter Thomson[note 3] $12.2 billion Media & Telecom
262 6 Linda Campbell[note 3] $9.57 billion Media & Telecom
Gaye Farncombe[note 3] $9.57 billion Media & Telecom
267 8 David Cheriton $9.37 billion Technology
367 9 Alain Bouchard $7.29 billion Retail
408 10 Jim Pattison $6.75 billion Media & Telecom
476 11 Chip Wilson $6.12 billion Retail
488 12 Tobi Lütke $5.92 billion Technology

Forbes

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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]

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

List of wealthiest Canadians (2023)[note 2]
World rank Name Net worth (USD) Source of wealth
22 David Thomson & family US$54.4 billion Media
167 Changpeng Zhao US$10.5 billion Cryptocurrency exchange
202 Jim Pattison US$9.5 billion Diversified
215 David Cheriton US$9 billion Google
290 Joseph Tsai US$7.6 billion E-commerce
425 Alain Bouchard US$6 billion Convenience stores
445 Arthur Irving US$5.7 billion Oil
466 James K. Irving US$5.5 billion Diversified
511 Mark Scheinberg US$5.2 billion Online gambling
534 Chip Wilson US$5 billion Lululemon
552 Lino Saputo & family US$4.9 billion Cheese
580 Carlo Fidani US$4.7 billion Real estate
636 Daryl Katz US$4.3 billion Pharmacies
699 Tobias Lütke US$4 billion E-commerce
787 Leonid Boguslavsky US$3.6 billion Venture capital
787 Bob Gaglardi US$3.6 billion Hotels
787 Lawrence Stroll US$3.6 billion Fashion investments
818 Barry Zekelman US$3.5 billion Steel
878 Peter Gilgan US$3.3 billion Homebuilding
878 Stephen Smith US$3.3 billion Finance and investments
949 Ryan Cohen US$3.1 billion Investments
982 Jean Coutu & family US$3 billion Pharmacies
1,027 Jacques D'Amours & family US$2.9 billion Convenience stores
1,067 Garrett Camp US$2.8 billion Uber
1,104 N. Murray Edwards US$2.7 billion Oil & gas
1,104 Bruce Flatt US$2.7 billion Money management
1,104 Pan Dong US$2.7 billion Consumer goods
1,164 Mark Leonard & family US$2.6 billion Technology
1,217 Charles Bronfman US$2.5 billion Liquor
1,217 Serge Godin US$2.5 billion Information technology
1,272 Mitchell Goldhar US$2.5 billion Real estate
0000 Chulong Huang US$2.2 billion Real estate
0000 Max Lytvyn US$2.2 billion Software
0000 Alex Shevchenko US$2.2 billion Software
0000 Clayton Zekelman US$2.2 billion Steel
0000 Zhang Ning & family US$2.1 billion Chemicals
0000 Bill Malhotra US$2 billion Real estate
0000 Larry Tanenbaum US$2 billion Sports
0000 Guo Zhenyu & family US$1.9 billion Cosmetics
0000 Robert Miller US$1.8 billion Electronic components
0000 Pierre Karl Péladeau US$1.8 billion Media
1,647 Alan Zekelman US$1.8 billion Steel
1,725 Jay S. Hennick US$1.7 billion Real estate finance
0000 Hal Jackman US$1.7 billion Insurance, investments
1,804 Jack Cockwell US$1.6 billion Real estate, private equity
0000 Richard Fortin US$1.6 billion Convenience stores
0000 Terry Matthews US$1.6 billion Telecom
0000 Stephen A. Jarislowsky US$1.5 billion Money management
0000 Michael Lee-Chin US$1.4 billion Mutual funds
0000 Brandt C. Louie US$1.4 billion Pharmacies
0000 Stewart Butterfield US$1.3 billion Messaging software
0000 Fayer Family US$1.3 billion Online payments
0000 Zhao Tongtong US$1.3 billion Hotels
0000 Naomi Azrieli US$1.2 billion Real estate
0000 Sharon Azrieli US$1.2 billion Real estate
0000 Guy Laliberté US$1.2 billion Cirque du Soleil
0000 Francesco Saputo US$1.2 billion Cheese
0000 Gerald Schwartz US$1.2 billion Finance
0000 Apoorva Mehta US$1 billion Grocery delivery service

0000 = N/A

Historical

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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 $51.8 billion in 2023).[15]

Other measurements and rankings of net worth

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Statistics Canada

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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

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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

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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

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Notes

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  1. ^ Elon Musk holds citizenship from Canada, South Africa, and the United States.
  2. ^ a b The list only includes individuals that were categorized as Canadians by the publication.
  3. ^ a b c d e f 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]

References

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  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. ^ a b "Bloomberg Billionaires Index". Bloomberg. 17 November 2023. Retrieved 18 November 2023.
  5. ^ 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.
  6. ^ a b 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.
  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. ^ a b "Bloomberg Billionaires Index". Bloomberg. September 30, 2020. Archived from the original on October 17, 2020. Retrieved October 1, 2020.
  10. ^ a b "Bloomberg Billionaires Index". Bloomberg. 1 July 2024. Retrieved 2 July 2024.
  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. ^ "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. ^ a b c d e f g h 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. ^ a b c d "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. ^ a b c "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.
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