I received the newest edition of Canadian Business late last week and an article caught my eye. The article was called “The Rich 100 List” which listed Canada’s top 100 wealthiest people.
We hear a lot about the richest Americans – Bill Gates, Warren Buffet, The Waltons, Lawrence Ellison, Michael Dell, the Google guys and the list goes on. But what about ridiculously rich Canadians? With a much smaller population, who are these wealthy Canucks?
Lets take a look at the top 10 wealthiest Canadians:
- Thomson Family ($21.99 Billion) – Not only head and shoulders wealthier than the next wealthiest family in Canada, the Thompson family is among the richest in the world. The Thompson family controls Thompson Reuters (TSX: TRI) which is a global media company.
- James (J.K), Arthur, John (Jack) Irving ($7.28 Billion) – Most of us have heard of Irving Oil, but what we may not have known is that it was started by the Irving Family of Atlantic Canada. They own gas stations, refineries, ship building, trucking and media businesses in the Atlantic provinces.
- Galen Weston ($6.47 Billion) – We all do grocery shopping and likely in one of Mr. Westons stores. Loblaws (TSX: L or TSX:WN) which is Canada’s largest grocery chain, or how about Real Canadian Super Store or No Frills? Yup, all part of the same family.
- Jimmy Pattison ($5.07 Billion) – Jim is a diversified businessman from the Vancouver area. He owns car dealerships, Ripley museums, coal export and media among other things.
- Rogers Family ($4.7 Billion) – With my cable bill apparently increasing on a semi annual basis, it’s no wonder the Rogers family just seems to get richer. As many of you know, Rogers has a wide customer base from its cable, Internet, cell phone and home phone divisions (TSX: RCI.b).
- Paul Desmarais Sr. ($4.28 Billion) – Paul controls Power Corp (TSX: POW) and its sister company Power Financial (TSX: PWF) which is a large insurance and financial conglomerate in Canada. As a side note, I own shares in PWF.
- Barry Sherman ($3.85 Billion) – He is the Chairman and CEO of Apotex Inc. which is Canada’s largest generic drug maker.
- David Azrieli ($3.73 Billion) – He is a well known builder, designer, architect, and developer. His development firms are considered leaders in the field.
- Jeff Skoll ($3.59 Billion) – Jeff is a Canadian born engineer and businessman. How did he get so wealthy? He was the 2nd employee and first president of eBay (NASDAQ: EBAY).
- Fred and Ron Mannix ($2.98 Billion) – The two brothers run The Mancal Group which in 1997 sold its energy interests for around $2 billion dollars. Today the company does private equity investments in oil and gas exploration, real estate, coal, and private portfolio management.
What do all these guys have in common? Besides a lot of zeroes in their bank accounts, they all started and/or run successful businesses and from various profiles that I’ve read, they all love what they do.