Seven, eight, and nine-figure earners are no longer new in Canada. Canada is the second-largest country in North America; the richest men in Canada are noted to reside in specific provinces in Canada like Ontario, British Columbia, and Saskatchewan. These top multimillionaires and billionaires in Canada are the biggest players in some of Canada’s industries.
The wealthiest persons in Canada are creators of wealth and affluence in the country, having made it to the acme of their careers. Canada has a wide margin of the wealthiest persons, especially billionaires in the youth. The median net worth of Canadians between 35 to 44 years is estimated to be USD234,400.
The top ten richest men in Canada are industrialists, entrepreneurs, business magnates, and capitalists in their careers. The richest men in Canada invest a lot into their personal development and growth in their industries. The combined net worth of the most influential Canadians in the world sums up to USD80 Billion.
Top Ten Richest Men In Canada
1. David Thomson and Family
Net worth: USD50.5 Billion
David Thomson is the 3rd Baron of Fleet, born on June 12th, 1957 into a Canadian-English family. After he gained ownership of Thomson Corporation which is his family’s company, he developed and diversified it to include the media company, Reuters.
The Thomas Reuters company has amounted to a lot of fortune for the David Thomson family to such an extent that the company has over 24,400 employees in its various branches. David Thomson has been Canada’s richest man for a long while and this is because of his numerous investments and stock exchanges in the company.
Net worth: USD11.7 Billion
David Cheriton used to be a professor at Stanford University, but after he invested in some of his students who had an interest in developing the search engine – Google, he became a veritable capitalist. David Cheriton is indeed the brain behind Google, which is the best search engine in the world.
He continues to create innovative solutions for different companies like Arista Network, where he works towards improving digital advertising. He is currently one of the billionaires in Canada due to his sagacious efforts in the tech industry.
3. Joseph Tsai
Net worth: USD8.8 Billion
Joseph Tsai is a tech genius and sports entrepreneur born in Taiwan. He studied in the USA and became a resident in Canada, one of the billionaires in Canada. Joseph Tsai co-founded Alibaba, one of the most successful eCommerce websites in the world. He owns the largest shares in the company after Jack Ma, who is the main founder of Alibaba.
Joseph Tsai owns Brooklyn Nets, a leading basketball team in America, which is estimated to be worth over USD3 Billion. The technological industry in Canada has seen numerous phases of growth due to the presence of this committed entrepreneur.
The employee count of Alibaba, which is Joseph Tsai’s major investment is 250 million persons in over 40 million jobs. His rate of job creation led to his recognition as one of the richest men in Canada.
4. Galen Weston Jnr. And Family
Net worth: USD8.7 Billion
The fourth among the richest men in Canada is Galen Weston Jnr. He became the CEO of George Weston after his father’s death in 2021. He is the fourth person from his family tree to head the George Weston Empire. The company which was established by Galen’s great grandfather in 1882, is a retail food chain in Canada. The company retails Canadian foods through its 140,800 employees and recently made revenue of CAD57,705 in the previous year.
Galen Weston Jnr. also heads Loblaw Company, another retail giant with numerous outlets all across India. The company has an employee count of 200,000 and has generated a revenue of CAD51,859 Billion in the previous year. Due to the affluence of the Weston Company, the Weston family is regarded among the most established families in Canada.
5. Huang Chulong
Net worth: USD6.1 Billion
From the name Huang Chulong, you will easily guess that this wealthy entrepreneur is from China; this is very true. He was born in China but is rated as one of the richest men in Canada due to the large investments he made into the country’s economy. His primary business interests are in the real estate industry and he owns the Galaxy Group which has over 538 million sq. ft. of real estate companies in China.
During his early life, Huang Chulong used to be a street trader in China, before he relocated to the Philippines to grow his trading business. When he turned 40 years, he returned to China and began setting up Century Golden Resources.
When there was a spike in the commercial property businesses, he advantaged the opportunity and developed a lot of properties. He was recognized as one of the richest men in Canada because he did not stop his real estate ventures in China. He pushes forward to secure a lot of properties in Canada.
6. Emanuele Lino Saputo
Net worth: USD5.2 Billion
The Saputo family is popular for its Diary products manufacturing companies. The Saputo family are Italians bit came to Canada to seek new heights in their business. In Canada, they began producing and delivering cheese with only USD500 and a bicycle to their net worth. Currently, the Saputo family is now one of the biggest manufacturing companies in Canada and prides itself on its USD14 Billion net revenue and about 18,000 employees.
The company also invested in the purchase of football clubs like the Montreal Impact, a football club in Canada, and Bologna, a soccer team in Italy. The Saputo company trades its products in over 60 countries and is aiming towards reaching all the countries in the world. Their companies have branches and subsidiaries in Australia, Argentina, the USA, and the UK.
7. Mark Scheinberg
Net worth: USD4.9 Billion
Online gambling earned Mark Scheinberg a position among the richest persons in Canada. Alongside his father, he cofounded PokerStars, an online gambling outlet. They both are Israeli-Canadian billionaires. He used to own a generous 75% of the family company before he sold his shares for USD3 Billion.
Mark Scheinberg is not just one of Canada’s multimillionaires only because of his online gambling business. He has large investments in real estate properties and the hospital industry which led to his ownership of luxury hotels.
8. James Irving
Net worth: USD4.7 Billion
James Irving is one of the most powerful men in Canada. He inherited the JD Irving and has reached greater heights through the company. The Irving family company has invested in timber, ship construction, retail business, and frozen foods, among other companies.
The company also owns shares in the global pulp trade. The JD Irving company was built as a conglomerate including diverse sectors. The company is now managed by the two sons of James Irving, though he still takes full credit as the company’s CEO.
JD Irving is on record as the largest landowner in Canada with over 18,000 employees in the different subsidiaries of the company.
9. Jim Pattison
Net worth: USD4.3 Billion
Jim Pattison started his business venture with a single deal in 1961 which has now earned him a net worth rated in billions of dollars. He is dubbed Canada’s Warren Buffett because of his skillful business style and industrious investment systems. Jim Pattison is recognized for owning a spot on the Guinness World Records, Franchise rights in Canada to the Great Wolf Lodge, and 40% of stakes in Canfor; a forest products company.
10. Anthony Von Mandl
Net worth: USD3.3 Billion
Anthony Von Mandl earns his wealth from his alcoholic beverage company. He owns White Claw Hard Seltzer, a company that produces alcoholic types of beverages in Canada. His company’s alcohol productions are widely and legally accepted in the country. Anthony Von Mandl entered the alcohol production business when he was 22. He currently owns Mike Hard Lemonade which is another beverage company in Canada.
Who is the Richest Person in Canada?
The richest man in Canada is David Thomson. A larger part of Thomson’s wealth is attributed to his inheritance and media conglomerate. David Thomson is estimated to have a net worth of USD47 Billion.
The wealth of the richest men in Canada is continually evolving and this is because of the diversities of the market situations, investment decisions, and the country’s economy. Currently, Canada has about 1,681,969 millionaires and 53 billionaires.