Comments on: Top 10 Wealthiest Canadians

By: Canadian Freedom

Canadian Freedom — Thu, 17 Dec 2009 02:24:44 +0000

The common thread here is that the wealthy are invested in assets. They leverage money and people to create wealth. Anyone can do it although some may do it more than others. What one person can do another can do! We just need to learn from them, set our own goals, and put our own plans in place. Then do it!

By: cannon_fodder

cannon_fodder — Tue, 15 Dec 2009 02:18:21 +0000

I don’t agree with these “Forbes-like” lists that include entire families as opposed to individuals.

Henry – there is another important factor in that equation. Liabilities! Having $1M in assets with $1M liabilities doesn’t necessarily make you any more rich than someone who owns nothing and owes nothing.

Western style governments recognize that small businesses are great places to put stimulus money. They employ a large proportion of all workers, their growth rates are quite large and the amount invested can often be proportionately small yet quite impactful.

If you have a government that encourages owners to reinvest back into their business they can grow more quickly and employ more people. I also am glad I live in a capitalistic country with a socialist mindset.

There are enough incentives to become very wealthy and yet enough opportunities for the government to share some of your wealth with others.

By: cash back reward

cash back reward — Sat, 12 Dec 2009 23:10:50 +0000

Would have of these make it in the top wealthiest people in the world?

By: Mai

Mai — Fri, 11 Dec 2009 22:57:33 +0000

I do not agree with you sco. I grew up in a communist country where everyone had the same salary and no one could get rich. You have no idea how miserable life was because there were no incentives whatsoever to strive for excellence or make things better. Now I am proud to be in North America. I no longer have to make my own clothes, I can buy the food that I want and my kids can play with real toys and not sticks and pebbles because there are companies out there who who make what I want to buy in exchange for my $$$. These profits are their incentive. It is called capitalism. And this is fine with me, I would never go back to my orhter life. So grow up or educate yourself becore posting such ridiculous statements as 95% taxation. You have no idea what you wish for.

By: Big Cajun Man

Big Cajun Man — Fri, 11 Dec 2009 13:10:43 +0000

I’ll bet there are a few “phantom” rich folk who don’t like having their names in the papers, but I am not one of them. Hopefully I’ll be on this list one day.

By: sco

sco — Fri, 11 Dec 2009 06:58:35 +0000

ghost seems to be one of those misguided defenders (and worshipers) of the very rich. I don’t think they have their fortune in cash; they are the real owners (major shareholders) of the big corporations for which us, the poor, are working our asses off and are being paid pennies.
If we were smarter, we would tax all incomes over ridiculous levels (like $2M/year) at 95%, so that obscene fortunes like those listed here would not be possible. Unfortunately most of us are dumb enough to think that we can also become rich one day, by working extra hard and kissing the right asses.

By: ghostryder

ghostryder — Fri, 11 Dec 2009 04:05:45 +0000

“This is what a system skewed in favor of the very few very rich does. If they were properly taxed they would not have that much wealth build on the back of the hard work of all of us.”

Sco seems to be one of those misguided people that think that these uber-rich actually have all their worth sitting in cash in the bank. Most (if not all) of those listed above are “worth” that much on paper. Most of their wealth is because they are major shareholders of companies they started or inherited.

Galen Weston probably pays more in income tax in one year on the dividends he gets from Weston than Sco will earn in a lifetime.

Jeff Skoll is rich because he helped take ebay from small to major success.

By: sco

sco — Fri, 11 Dec 2009 01:39:06 +0000

This is what a system skewed in favor of the very few very rich does. If they were properly taxed they would not have that much wealth build on the back of the hard work of all of us.

By: Ms Save Money

Ms Save Money — Thu, 10 Dec 2009 23:58:41 +0000

yup totally agree – going back to this article – http://www.milliondollarjourney.com/finding-your-passion.htm

passion is a great success driver.

By: FrugalTrader

FrugalTrader — Thu, 10 Dec 2009 23:28:51 +0000

Thanks for the heads up guys, fixed the errors.

Nanci, flattering… maybe some day. :)

By: Ben

Ben — Thu, 10 Dec 2009 20:41:46 +0000

Canadian Business forgot to interview me again this year….oops.

By: Peter rock

Peter rock — Thu, 10 Dec 2009 20:27:40 +0000

It’s thomson not Thompson geez

By: Larry

Larry — Thu, 10 Dec 2009 18:37:58 +0000

The Irving empire was started by one K.C. Irving – these two are just the sons who happened to have been born into the right family…they did NOT start the Irving empire. :)

Did you also know that KC lived in Bermuda until his death which is where his companies are registered for tax pusposes and that as part of his sons taking over, they also have to live there as their prime residence as well?

By: Caitlin

Caitlin — Thu, 10 Dec 2009 18:12:49 +0000

@Henry – define “comfortable life”?

Hrm, seems I’m the wrong sort of Thompson! ;)

By: Henry

Henry — Thu, 10 Dec 2009 16:48:25 +0000

How much liquid assets do you guys think one need to have a comfortable life in Canada?

In my opinion, 1 million dollars excluding real estate is a good number.

By: JDWood

JDWood — Thu, 10 Dec 2009 16:33:21 +0000

I am pretty sure thee Irving compaines were started by their father K.C. Irving. The boys didn’t start until the seventies.

By: Asher

Asher — Thu, 10 Dec 2009 14:41:59 +0000

These lists aren’t accurate.

These only publish KNOWN wealth. These lists miss out on the values of personal property, private holding companies, other real estate investments etc.

I personally know of families worth around those numbers who none of you have ever heard about, and most of it is more liquid than the individuals mentioned above!

By: guinness416

guinness416 — Thu, 10 Dec 2009 13:49:15 +0000

I’m pretty sure I’ve read that Hilary Weston, Galen’s wife and fellow Dub, is also the wealthiest Irish person alive.

By: saveING.ca This is why I signed up with ING Direct

saveING.ca This is why I signed up with ING Direct — Thu, 10 Dec 2009 13:09:05 +0000

I thought Paul Desmarais was higher up…

By: Nanci

Nanci — Thu, 10 Dec 2009 12:19:56 +0000

Now Frugal Trader, don’t be so modest! I am sure you were number 16 or 17… In a few years you can post your About page to the above list, and we can all say, “we remember when….”.

Thanks for this, have a good day.