Ever thought there are wealthiest people in Canada? It is a well-known fact that numerous billionaires call Canada their home.
Some of the wealthiest people in Canada got their start in business less than ten years ago, while others came into their fortune through inheritance.
The list below talks about the top 10 richest people in Canada.
Who’s the Top 10 Richest People in Canada?
1. David Thomson – $50.2 billion
David Thomson is a Canadian/British hereditary peer and media magnate. His grandfather, Roy Thomson established an empire in the publishing and media industries that are now controlled by David Thomson and his family.
The Thomson family owns around 320 million shares of Thomson Reuters, which is also where Thomson serves as chairman. This is the family’s largest investment.
In 2018, Thomson Reuters made public its intention to sell a majority stake in the financial data company Refinitiv to the private equity firm Blackstone for the sum of $17 billion.
3. Changpeng Zhao – $17.4 billion
Now a resident of Singapore, Zhao was born in China and raised in Canada. In 2014, he sold his Shanghai condominium and used the proceeds to launch the cryptocurrency exchange Binance the following year.
His foresight about the future of cryptocurrency led him to sell his Shanghai home and put the money toward Bitcoin.
Changpeng Zhao founded BijieTech in 2015 as a development firm for exchanges that provides cloud-based trading services to exchanges in Asia.
After leaving BijieTech in 2017, he went on to establish Binance. After Binance’s initial coin offering garnered $15 million in backing, his journey to wealth gained momentum.
3. David Cheriton – $9.5 billion
At Stanford University, computer science is one of David Cheriton’s areas of expertise as a professor.
In the year 1998, Cheriton invited Larry Page and Sergey Brin, two graduate students, to demonstrate their project on his front porch.
In 1998, he contributed to the creation of Google along with Andy Bechtolsheim, who was a co-founder of Sun Microsystems. Together, they gave the two individuals a cheque for $100,000 to assist them to get started.
Even though he didn’t brag about his fortune, that modest investment turned out to be profitable.
4. James Allen Pattison – $10.8 billion
James Allen Pattison OC OBC is a Canadian business magnate, investor, and philanthropist.
Jim Pattison Group is a conglomerate that generates yearly sales of C$12.7 billion ($10.1 billion), and Pattison is the proprietor of the company.
In addition to being the publisher of Guinness World Records, this business is also the largest automobile dealer in western Canada.
In addition, Pattison is a shareholder in Westshore Terminals Investment, which runs the largest coal export facility in Canada.
5. Anthony von Mandl – $9 billion
Mark Anthony Group, an alcoholic beverage maker, importer, and distributor, provides most of von Mandl’s wealth. According to Bloomberg News, Mark Anthony Group had $4 billion in 2020 sales.
6. Joseph Tsai – $8.2 billion
Joseph Tsai is a Hong Kong-Canadian billionaire businessman, lawyer, and philanthropist. Tsai is one of the original founders of Alibaba Group, the most successful online retailer in China.
Taobao, a website for online shopping, and Tmall, a platform that enables businesses to build their own online stores, are both operated by the same company, which has its headquarters in Hangzhou.
In the year that ended on March 31, 2021, it had revenue of 717 billion yuan, which is equivalent to 106 billion dollars, and 1.13 billion global yearly active consumers.
7. Alain Bouchard – $5.5 billion
Alimentation Couche-Tard, which operates around 10,000 petrol stations and convenience stores across North America, was founded by Bouchard, who also serves as the company’s chairman.
In the fiscal year that ended on April 25, 2021, the corporation headquartered approximately Laval, Canada brought in $54 billion in revenue.
Its retail network now includes stores in other countries, including as Russia, Eastern Europe, Scandinavia, and Ireland.
8. Chip Wilson – $5.4 billion
Wilson is the person responsible for starting the company Lululemon Athletica, which is a manufacturer of yoga pants and other related clothing.
In the fiscal year that ended on January 31, 2022, the corporation with headquarters in Vancouver reported sales of $6.2 billion.
In 2014, Wilson sold half of his share to the private equity firm Advent International, and the following year, he resigned from his position on the board of directors.
9. Mark Scheinberg – $5.3 billion
PokerStars and Full Tilt Poker are both websites that are owned by the Isle of Man-based company Rational Group, which Scheinberg helped build and once served as CEO of.
Amaya Gaming Group, which is traded on stock markets and generated revenues of $1.1 billion in 2015, acquired Rational Group in June 2014 for a cash purchase price of $4.9 billion. Scheinberg then resigned from his position two months after selling his stake.
10. Emanuele (Lino) Saputo – $4.6 billion
In 1954, Saputo started the Canadian cheese manufacturing company Saputo, Inc. with an initial investment of $500 and a bicycle for delivering the cheese.
Lino’s wealth expanded over the course of the following decades in tandem with the surge in pizza consumption that occurred in the 1980s and 1990s.
In the 1980s, he was successful in acquiring Canadian and American dairies, which propelled him to the position of “cheese king” in Canada.
