According to Forbes’ latest list of richest billionaires in the world, the ranks of Canadian billionaires are growing faster than some countries’ economy. The country’s Wealthiest People simply got richer. To help us understand how wealthier they have become, Forbes compiled a chart of the wealthiest people in the world and it is no surprise that about 30 Canadians (including familiar faces and new kids) made the list. Read on to see the 2015 top 25 richest people in Canada, how they did—and discover the sources of their wealth, the strokes of business genius that made them rich in the first place, and the investments that keep them on top.
25. Brandt Louie
Net Worth: $1.8 Billion
Industry: Drug Store Chain
Brandt Louie is the chairperson and CEO of a retail empire in Vancouver, Canada. The company is made up of grocery wholesaler H.Y. Louie, and London Drugs, which is one of the biggest drug store chains in Canada. He took over the company after the death of his father Louie Tong in 1998. His holding company, H.Y. Louie Co., which controls London Drugs, is the second- biggest privately held company in British Columbia, trailing only the Jim Pattison Group. He obtained his B.Comm from University of British Columbia and became a chartered accountant three years later. He sits on the boards of a good number of companies and non-profit organizations, including the Royal Bank of Canada. He served as the ninth Chancellor of Simon Fraser University from 2005-2011.
25. Norman Murray Edwards
Net Worth: $1.8 Billion
Industry: Oil & Gas
Norman Murray Edwards is an oil sands financier and co-owner of the Calgary Flames hockey team. He earns most of his money from stakes in Canadian oil and mining companies, primarily oil sands miner Canadian Natural Resources. He is also one of the owners of the National Hockey League’s Calgary Flames. He is a central figure in the NHL and was heavily involved in the negotiations between owners and players during the 2012 lockout. Edwards is also the Chairman of the Board of Magellan Aerospace Corporation and the majority holder of Magellan Aerospace, owning -76% of Common Shares. He has more than 30% of a management and holding company, Jovian Capital Corp.
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23. Clayton Riddell
Net Worth: $1.9 Billion
Industry: Oil & Gas
Clayton founded Calgary, Alberta based Paramount Resources. The Canadian oil baron is not only the founder, but is also the president and CEO of the company. He is also one of the owners of the Calgary Flames and high-end Calgary restaurant Catch. With an estimated net worth of $ 1.9 billion dollars (as of March 2015), Riddell was ranked by Forbes as the 1006th richest person in the world. He has indeed developed a resources empire over the last four decades starting with near-barren natural gas wells when he founded Paramount Resources in 1974.
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23. Guy Laliberte
Net Worth: $1.9 Billion
Industry: Cirque du Soleil
Guy Laliberte, a Canadian entrepreneur, philanthropist, poker player, space tourist and co-founder of Cirque du Soleil in 1984, one of the biggest live entertainment groups in the world. He is as of now, the CEO of the company. He is working hard towards revitalizing his company, popular for its intricate circus shows that have been seen by over 150 million people worldwide, as its creative guide. The Canadian business tycoon started out as a street performer in Quebec, walking on stilts and breathing fire. He established Cirque du Soleil at the time Canadian government bestowed him a $1 million contract to develop a celebration for the 450th anniversary of the discovery of Canada.
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23. Carlo Fidani
Net Worth: $1.9 Billion
Industry: Real Estate
Carlo Fidani presides over Orlando Corp., the Toronto-area real estate company. He succeeded his father upon his death in 2000. Carlo is the third generation to operate the family business, which has interests in a range of platforms including construction and development as well as property leasing and management of more than 40 million square feet of industrial, office and commercial real estate. The company was established as Fidani and Sons in 1948 by Carlo’s grandfather.
20. Chip Wilson
Net Worth: $2.2 Billion
Chip Wilson, a Canadian businessman who founded several retail apparel companies, most notably yoga-inspired athletic apparel company Lululemon Athletica Inc., popularly called “Lululemon”. He was the chairman of the company. He left the company board in June 2014 and in August, he shed 50% of his stake in the company for $845 million. However, he still has nearly 21 million shares, or about 10% of the yoga outfitter.
20. Mitchell Goldhar
Net Worth: $2.2 Billion
Industry: Real estate
Mitchell Goldhar serves as the President and Chief Executive Officer of First Pro Group of Companies now SmartCentres Inc., a Toronto property developer, since 1999. He created the first Walmart store in Canada in 1994. Since then, his Toronto-based firm, SmartCentres, has translated into over 250 shopping centers across Canada, most of which house a Walmart. The company based near Toronto, disposes most of its centers to property managers or real estate investment trusts like Calloway. Goldhar owns 21% of Calloway, where he sits on the board, and a quarter of the Retrocom REIT. He has been in the real estate development business for 22 years.
18. Charles Bronfman
Net Worth: $2.3 Billion
Bronfman held different positions in the family’s liquor empire, Seagrams, from 1951 to 2000. His father Samuel Bronfman in 1951 gave Charles a 33% ownership stake in Cemp Investments, a holding company for him and his 3 siblings which controlled the family’s corporate empire. The company controlled billions of dollars in liquor, real estate, oil and gas, and chemical companies when Charles and his brother Edgarwere in control. In 1971 after the death of their father, Sam Bronfman and his brother Edgar, took over the Seagram spirits empire. He and his brother Edgar Bronfman Sr. sold their family’s Seagram spirits empire to Vivendi for $34 billion. He is currently focused on philanthropy and has written two books on the subject. He has also signed Warren Buffett’s and Bill Gates’ Giving Pledge. He started a foundation with his late wife called The Andrea and Charles Bronfman Philanthropies. His spokesperson revealed that the billionaire has given away or pledged at least $350 million to charities including The Andrea and Charles Bronfman Philanthropies.
17. Lawrence Stroll
Net Worth: $2.4 Billion
Canadian Lawrence is a successful fashion businessman and the man behind the success of Tommy Hilfiger. He served as the Chief Executive Officer of Poloco S.A. The fashion magnate was with Tommy Hilfiger Corporation from 1998 to 2002 and also served as Chief Executive Officer of Pepe Jeans London Corporation from 1993 to 1998. He has been Chairman of Global Brands Acquisition Corp. since July 3, 2007. He and Hong Kong based Silas Chou, founded Sportswear Holdings Ltd. They masterminded Michael Kors’ successful IPO in 2011. The duo liquidated their 5.7% stake in Michael Kors in 2014 and Stroll stepped down from the board after being involved for over a decade at the fashion house. Since the IPO was unloaded, they have earned a cash benefit of more than $3.5 billion.
17. Jean Coutu
Net Worth: $2.4 Billion
Jean Coutu is the founder and Chairman of the Jean Coutu Group, the Canadian pharmacy retailer that makes up the bulk of his fortune. The company started in 1969. His son Francois controls daily running of the business. The Jean Coutu Group employs nearly 20,000 people across its more than 400 franchised stores in Québec, New Brunswick and Ontario. The Canadian entrepreneur was once a leading shareholder of U.S. drug store operator Rite Aid, The Jean Coutu Group disposed the last of its stake in 2013 by way of sales and used the proceeds to fund a share buy-back and special dividend. He was made an Officer of the Order of Canada and an Officer of the National Order of Quebec in 1993.
15. Robert Miller
Net Worth: $2.5 Billion
Industry: Electronics Components
Canadian electronics billionaire Robert Miller co-founded Future Electronics in 1968. The press-shy billionaire bought out his partner for $500,000 after eight years of their partnership. The company based in Quebec is today one of the largest electronics distributors in the globe. The company has operations in 169 locations in 42 countries in the Americas, Europe and Asia.
15. Alain Bouchard
Net Worth: $2.5 Billion
Bouchard earned most of his fortune by snatching up competitors, including the Circle K line of convenience stores in 2003 and Scandinavian fuel and retail giant Statoil in 2012. He is the founder and chairman of Alimentation Couche-Tard, and also serves on the board of directors of Atrium Innovations, both located in Quebec. In September 2014, he stepped down as president and CEO of his convenience store conglomerate Alimentation Couche-Tard. In the past year, Couche-Tard continued its expansion with the acquisition of 15 South Carolina stores from Garvin Oil Company.
13. David Cheriton
Net Worth: $2.9 Billion
He is a computer science professor at Stanford University and also an investor in technology. He unexpectedly sued Arista Networks, the computer networking firm he co-founded, shortly before its successful IPO in June 2014. According to him, Arista violated the terms of a licensing agreement for using software created by his other company OptumSoft. Cheriton resigned from Arista’s board in March 2014 but is still its biggest shareholder, owning almost a quarter of the stock.
12. Daryl Katz
Net Worth: $3.3 Billion
Daryl Katz is the owner of Edmonton Oilers and the founder of eponymous Katz Group, the largest privately owned enterprises, with operations in the pharmacy, sports & entertainment, and real estate development sectors. He piled up a fortune in the pharmacy business when he established the eponymous Katz Group in 1990. The company runs some 1,800 stores across Canada and employs 8,600 people. Katz bought the NHL’s Oilers in 2008 and has been active in improving the downtown Edmonton area through the construction of the Edmonton Arena District. It will include a state-of-the-art arena for the team, a 62-story office tower, hotels, condos and a theater complex.
11. Bernard (Barry) Sherman
Net Worth: $3.9 Billion
Bernard “Barry” Sherman is the Chairman and CEO of Apotex Inc., Canada’s biggest pharmaceutical company. The company sells 89 million prescriptions a year in 115 countries. The Canadian entrepreneur used his mother’s life savings to buy his uncle’s drug company after obtaining a doctorate in rocket science at MIT, Sherman. In 1974, that company served as the basis for Apotex with two employees in 5,000 square feet. Today, it caters to more than 10,000 employee, produces more than 300 generic drugs and is creating another 600. The company also invents fine chemicals, non-prescription drugs and disposable plastics used in medicine.
10. Mark Scheinberg
Net Worth: $4.1 Billion
Industry: Online Gambling
Mark Scheinberg earned a lot off online poker. He, and his father Isai Scheinberg developed PokerStars into the largest online poker company in the world. The company established in 2001, first operated out of Costa Rica, but eventually shifted to the Isle of Man. In a deal that was supported by Blackstone’s GSO credit division, PokerStars’ parent, Rational Group, which also owned Full Tilt Poker, was disposed for $4.9 billion in August to Amaya, a publicly-traded Montreal company.
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9. Emanuele (Lino) Saputo
Net Worth: $4.8 Billion
Canadian Emanuele (Lino) Saputo – is the chairman and founder of the family’s global dairy business, which rakes in $7.4 billion a year peddling cheese and other milk products in 40 countries. Saputo’s father, Giuseppe, founded Saputo Inc, Canadian cheese manufacturer in 1954 after moving to Canada from Sicily. Saputo, who has chaired the company since 1969, grew the business through acquisitions and took it public in 1997. His son, Lino Jr. was appointed as president and CEO of the company in 2004.
8. Garrett Camp
Net Worth: $5.3 Billion
Industry: Car Service
Garrett Camp co-founded Uber, the car-hire startup that has seen its valuation grow 10 fold in the past 18 months–to $41.2 billion and the co-founder of StumbleUpon, a web-discovery platform that grew to more 25 million registered users. He was the founding CEO of StumbleUpon but stepped down in mid 2012 to work on other ventures. He is the chairman of Uber which he co-founded. Uber competes with taxis across the U.S. and in 53 other countries. The company is banned in a good number of countries and was temporarily banned in India as a result of a regulatory fight over safety concerns. Uber pledged in early 2015 to cooperate more with European cities, which represent key centers of growth.
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7. Arthur Irving
Net Worth: $5.5 Billion
Arthur, and his brother J.K., share the ownership of what is known informally as the Irving Group of Companies. He is the second son of industrialist K.C. Irving. While Arthur Irving is the owner of Irving Oil, which operates more than 900 gas stations in Canada and the northeastern U.S. and also owns Canada’s biggest oil refinery his brother James, also a billionaire, is responsible for J.D. Irving, a conglomerate with some two dozen companies in frozen foods, transportation, timber, shipping and more.
6. Loretta Robinson
Net Worth: $5.8 Billion
Industry: Cable TV
Loretta Anne Robinson along with her four children inherited a big stake in Rogers Communications after her husband Ted Rogers died in 2008. The company which is one of Canada’s biggest and most diversified media companies provides cable television, telephone, wireless and internet service to millions of users across Canada. The company is also the owner of Rogers Publishing, Canada’s biggest publisher, which produces 70 magazines including newsweekly Maclean’s.
5. Joseph Tsai
Net Worth: $5.9 Billion
Canadian business tycoon Joseph Tsai’s is the vice chairman of Alibaba Group. Joseph Tsai was born in Taiwan. He has undergraduate and law degrees from Yale University.His wealth more than doubled after Alibaba Group began trading in New York in September 2014 in the world’s biggest IPO. He’s one two wealthiest people who founded the company. He and billionaire Jack Ma established the company. As vice chairman he’s helped lead a flurry of overseas deals for the e-commerce juggernaut.
4. James Irving
Net Worth: $6.5 Billion
He is the eldest son of industrialist K.C. Irving. He is the owner of J.D. Irving, a conglomerate with some two dozen companies in frozen foods, retail, shipbuilding, transportation and more. The company is one of Canada’s biggest landowners, with 260,000 acres in Nova Scotia. Its timber and forestry operation is located in New Brunswick. It has planted over 877 million trees since 1957.
3. Jim Pattison
Net Worth: $7.5 Billion
Jim Pattison, a business tycoon and philanthropist is the Chief Executive Officer, Chairman and Sole Owner of the Jim Pattison Group, the second biggest privately held company in Canada. In 1961, he bought Pontiac Buick dealership in Vancouver. After more than 200 acquisitions, his Jim Pattison Group has translated into a big company with $6.6 billion in revenues and 36,000 employees. The company owns numerous car dealerships, Overwaitea Foods and Save-On-Foods, Ripley’s Believe It or Not!, Guinness World Records and radio & TV stations in British Columbia and Alberta. He is also the owner of Vancouver Blazers of the World Hockey Association. So not only does the company still sells cars but it’s also active in media, food and beverage, entertainment, agriculture and other industries. His son runs Ripley’s Believe It Or Not! chain.
2. Galen Weston
Net Worth: $9.6 Billion
Galen Weston, is a businessman and philanthropist. He serves as Executive Chairman of George Weston Limited, a leading food processing and retail giant founded by his grandfather in 1882. After successfully operating grocery and retail stores in Ireland, Galen was handed the reins to Loblaws, a struggling supermarket chain owned by his father, in 1972. He changed the company around by cutting off under performing stores and redesigning the rest. His son, Galen Jr. controls Loblaws today; it bought Canadian drugstore chain Shoppers for about $12 billion in July 2013. The elder Weston also oversees Selfridges Group whose department store holdings include Ogilvy’s and Holt Renfrew in Canada; Brown Thomas in Ireland; Selfridges in the United Kingdom; and de Bijenkorf in the Netherlands. Galen Weston and his wife, Hilary, developed Windsor, a 416-acre luxury residential community in Vero Beach, Fla.
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1. David Thomson
Net Worth: $25.5 Billion
David Thomson is the son of late Kenneth Thomson, 2nd Baron Thomson of Fleet. He and his family are the owners of a media and publishing company established by their grandfather Roy Thomson. Now in its third generation, the family business is run through private holding company Woodbridge, which holds a 57% in Thomson Reuters; David Thomson serves as chairman of Thomson Reuters. He became the chairman of Thomson Corporation in 2006 when his father died. After the acquisition of Reuters, he became the chairman of the merged entity, Thomson Reuters in 2008. His brother Peter Thomson is co-chair of Woodbridge, which holds assets owned by Roy Thomson’s seven grandchildren.
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