50 Richest Canadians (2023): So Many Billionaires

With constantly changing mergers and acquisitions, new startups, and everything in between, the country’s richest never remain the same.

This list of the top 50 richest Canadians includes everything from inherited wealth, divorce settlements, and smart investments. 

According to the billionaire census Wealth X, the nation’s wealthiest people increased both in Canada and worldwide.

Read on to see who’s on the list and how rich they are.

Who Was the Richest Canadian Ever?

Who Was the Richest Canadian Ever?

The following list will spotlight some of the biggest earners throughout Canada, but this Irish-born immigrant regularly holds the spot as “the richest man in Canada.”

Herbert Holt’s estimated net worth back in 1928 topped off at around $3 billion, equivalent to over $45 billion today.

However, you’d be hard-pressed to find a business back then that didn’t have Holt attached to it somehow.

He was mainly known as the president of the Royal Bank of Canada and Montreal Light, Heat, & Power, but Holt was the director of more than 250 companies worldwide.

Although he was successful in business and often lauded for his financial savvy, most people found him quite unsavoury personally. He’s known for putting profits above all else, even during times of suffering like The Great Depression.

He felt no pity for those struggling during that difficult period saying, “If I am rich and powerful, while you are suffering the stranglehold of poverty and the humiliation of social assistance; if I was able, at the peak of the Depression, to make 150 percent profits each year, it is foolishness on your part, and as for me, it is the fruit of a wise administration.”

Holt died in 1941, and as the story goes, when the announcer reported his death during a baseball game, the crowd cheered. Holt’s legacy includes a massive fortune, various engineering feats, and a reviled reputation.

50 Wealthiest Canadians

Richest Canadians

Here are the top earners, complete with their amassed net worth and how they made their fortune. (Estimated values are in CAD currency)

1.  Changpeng Zhao

Net Worth: $19.17 billion

Currently topping the list, Zhao’s fortune comes from his cryptocurrency exchange, Binance. The company buys or invests in price tracking websites for crypto assets. Before Binance, he started Bijie Tech, a startup that provided cloud-based exchange services.

2.  Sherry Brydson

Net Worth: $17.38 billion

One of the richest women in Canada, Brydson’s wealth comes from her share of the Thomson family investment firm, Woodbridge. Brydson also has investments in aviation, media, and hospitality.

3.  Jim Pattison

Net Worth: $15.37 billion

Founder of The Pattison Group, his business is the second-largest privately held company in Canada. The Group’s interests vary with ties to supermarkets, the auto industry, and packaging.

A true philanthropist, Pattison operates the Jim Pattison Children’s Hospital and regularly donates to other local hospitals.

4.  David Cheriton

Net Worth: $14.36 billion

A computer science and electrical engineering professor at Stanford, the bulk of Cheriton’s wealth came from Google. He was one of the first angel investors in the company and a mentor to its founders.

5.  Anthony von Mandl

Net Worth: $11.34 billion

An owner of successful and well-established wineries, von Mandl amassed his fortune when he created  Mike’s Hard Lemonade and White Claw, two of the top adult beverages.

He sold the rights to Mike’s Hard Lemonade in Canada for a whopping $350 million but held tight to the more lucrative US one.

6.  Joseph Tsai

Net Worth: $11.34 billion

Tsai is the co-founder, CFO, and executive vice-chairman of the Chinese internet company, Alibaba Group Holding, Ltd. Tsai also owns several professional sports teams, including the NBA’s Brooklyn Nets.

7.  Taylor Thomson

Net Worth: $10.78 billion

Another member of the famed Thomson family makes the list. Much of Thomson’s wealth is through her stake in the family company, Woodbridge. But she also has a significant real estate portfolio with large holdings in California.

8.  Peter Thomson

Net Worth: $10.78 billion

Thomson owns 14% in Woodbridge, the family company that manages Thomson Reuters, a media and publishing conglomerate. The family also owns The Globe and Mail newspapers and has a stake in a telecom company.

9.  David Thomson

Net Worth: $10.78 billion

Another family member on the list, Thomson is the chair of the Thomson Reuters company but also owns the NHL’s Winnipeg Jets. The family has a minor stake in the MLB’s Montreal Canadiens.

10.  Pan Dong

Net Worth: $10.04 billion

The Blue Moon Group is a supplier of liquid detergent and soap. Dong started as a technical consultant before working her way to the top as company chair. Because of her 76% stake in the business, Dong’s wealth skyrocketed when the company went public in 2020.

Richest Canadians

11.  Tobias Lutke

Net Worth: $8.69 billion

German-born Lutke moved to Canada in the mid-2000s and co-founded Shopify, the eCommerce platform for goods and services.

12.  Linda Campbell

Net Worth: $8.46 billion

Another member of the Thomson family, Campbell owns an 11% stake in the family investment company Woodbridge.

13.  Gaye Farncombe

Net Worth: $8.46 billion

The granddaughter of Roy Thomson, founder of Thomson Reuters, Garncombe owns an 11% in the family company, helping her amass her fortune and solidify her spot on the list.

14.  Chip Wilson

Net Worth: $7.05 billion

One of the pioneers of the “athleisure” industry, Wilson founded Lululemon Athletica and Westbeach Snowboard.

Even though the brand has been around for more than two decades, it continues to keep pace with other well-known outlets because of its innovative new products and high-quality gear.

15.  Alain Bouchard

Net Worth: $6.93 billion

Bouchard was one of six children born to a struggling Canadian family. Those hardships helped the young boy work towards financial security.

He founded the convenience store chain Couche-Tard back in 1980 and served as its president and CEO until 2014.

During that time, the chain was the leading convenience store in Canada and the largest independent store operator in the US.

16.  Mark Scheinberg

Net Worth: $6.67 billion

Israeli-born Scheinberg, with the help of his father, cofounded PokerStars, the largest online poker company. Scheinberg sold the company in 2014, earning him over $3 billion.

He used the proceeds to invest in luxury real estate and to help restore historic buildings throughout Madrid.

17.  Huang Chulong

Net Worth: $6.30 billion

Chulong earned his fortune as chair of the real estate development firm Galaxy Holding Group. The company has development deals throughout China, along with interests in hotels, urban renewal, and finance.

18.  Emanuele (Lino) Saputo

Net Worth: $6.04 billion

Saputo Inc., a dairy company based out of Montreal started in 1954 by Lino Saputo’s father, Giuseppe. Since then, the company expanded into the US, Australia, and Great Britain.

Over half of the company’s sales come from the United States, where they are one of the top three cheesemakers.

19.  Bruce Flatt

Net Worth: $5.79 billion

Accountant Bruce Flatt headed Brookfield Asset Management and is credited with expanding its global reach. The company is one of Canada’s largest infrastructure and real estate managers.

20.  Daryl Katz

Net Worth: $5.67 billion

Katz’s initial wealth came from a partnership deal with his father. The two purchased the Canadian rights to American-based drugstore Medicine Shoppe.

He then bought the Canadian chain Rexall as well as other smaller chains. Katz also owns the NHL’s Edmonton Oilers team.

Richest Canadians

21.  Carlo Fidani

Net Worth: $5.29 billion

Fidani runs the real estate company, Orlando Corp, initially founded by his grandfather back in the 1940s. The company purchases and develops land in Toronto and manages office, commercial, and industrial spaces.

22.  James Irving

Net Worth: $5.16 billion

Irving owns J.D. Irving, Ltd, which is a conglomerate that owns more than two dozen companies with interests in transportation, frozen food, and shipbuilding.

One of the company’s divisions owns more than 1.25 million acres of land in the US, making it one of the top six landowners in the United States.

23.  Max Lytvyn

Net Worth: $5.04 billion

Max Lytvyn – every writer is thankful for this guy. Back in 2009, Lytvyn helped co-found Grammarly, a grammar and plagiarism writing assistant.

Users can download a free version or upgrade to a paid subscription. As of 2021, the company had a valuation of $13 billion.

24.  Alex Schevchenko

Net Worth: $5.04 billion

Lytvyn’s partner, Schevchenko, is the other half of Grammarly and now serves as the Product Lead at the company.

25.  Arthur Irving

Net Worth: $4.91 billion

The brother of James Irving, Arthur runs the family’s oil division. After his father’s death, the Irving conglomeration got divided between the three sons.

All the businesses are integrated and buy products and services from within the Irving organization, maintaining profits within operations.

26.  Apoorva Mehta

Net Worth: $4.41 billion

After starting countless businesses that failed, Mehta hit the jackpot when he came up with Instacart. The grocery delivery company was recently valued at $39 million. His savvy idea landed him on the billionaire list at the age of 33 in 2020.

27.  Peter Gilgan

Net Worth: $4.28 billion

It might surprise you to learn how lucrative home building is but consider Peter Gilgan’s stats. He’s president of Mattamy Homes, the largest privately held house builder in North America.

Gilgan is extremely charitable with his wealth and made the largest donation ever of $40 million to a Canadian pediatric hospital.

28.  Jean Coutu

Net Worth: $4.15 billion

After working in the pharmacy during college, Coutu decided to make it his life’s work. Shortly after college, he bought three pharmacies – the beginning of the Jean Coutu Discount Pharmacy chain.

His pharmacies were cutting edge at the time because they sold goods other than pharmaceuticals. You could find toiletries, office supplies, and other household items.

29.  Bob Gaglardi

Net Worth: $4.15 billion

Gaglardi founded Northland Properties, which opened the Sandman Inn shortly after. He made a name for himself by opening hotels and restaurants throughout Canada. He is currently the owner of the NHL’s Dallas Stars.

30.  Barry Zekelman

Net Worth: $4.15 billion

Zekelman is president of Atlas Tube, a steel tubing manufacturer with subsidiaries in both Canada and the United States.

Richest Canadians

31.  Mitchell Goldhar

Net Worth: $3.906 billion

The owner of SmartCentres, Goldhar convinced Walmart to put their stores as anchors in Canadian shopping malls. He sold SmartCentres to SmartCentres REIT but kept a large ownership stake. Goldhar also owns the Maccabi Tel Aviv soccer club.

32.  Garrett Camp

Net Worth: $3.90 billion

You might not have heard of Garrett Camp, but you definitely know of his brainchild – Uber. While he’s chairman of that and his other company, StumbleUpon, Camp keeps creating.

He’s involved in various startups and even launched his own cryptocurrency project, Eco.

33.  Lawrence Stroll

Net Worth: $3.78 billion

Stroll was introduced to the world of fashion through his father, who brought Ralph Lauren into Canada. He had a big stake in Michael Kors and helped make it public in 2011.

Recently, he purchased the Formula One racing team Force India, whose name changed to Aston Martin because of Stroll’s investment.

34.  N. Murray Edwards

Net Worth: $3.78 billion

As a young man, Edwards started investing in oil, gas, and other energy companies. He eventually diversified his portfolio to include aerospace and ski resorts. He’s the owner of the NHL’s Calgary Flames.

35.  Stephen Smith

Net Worth: $3.65 billion

Stephen Smith’s story is the ultimate tale of perseverance. He declared bankruptcy in 1984, but just a short time later, he co-founded First National Financial LP, Canada’s largest non-bank mortgage lender.

Smith also co-owns one of Canada’s largest mortgage insurance providers, Canada Guaranty Mortgage Insurance Company.

36.  Jacques D’Amour

Net Worth: $3.65 billion

D’Amour is the co-founder of the Canadian convenience store chain, Couche-Tard. The company found its way into the US with the acquisition of Circle K convenience stores. D’Amour still sits on the company’s board.

37.  Ryan Cohen

Net Worth: $3.65 billion

Cohen helped co-found the online pet supplier Chewy.com. The business sold to Petsmart, and Cohen turned around and invested part of his earnings into Gamestop.

While a controversial move, it turned out to be a smart one when Reddit users made the stock price of the gaming store soar.

38.  Jack Cockwell

Net Worth: $3.52 billion

Cockwell started his career managing the inheritance of the Bronfam Brothers, including dealing with acquisitions.

From there, he built his own company – Brookfield Asset Management. It’s one of the largest money managers and has interests in real estate, infrastructure, and private equity.

39.  Mark Leonard

Net Worth: $3.52 billion

Leonard is president and chairman of tech company Constellation Software. The company offers software to public and private firms. Leonard is a bit of an enigma – there aren’t pictures of him online, nor does he speak to the press.

40.  Charles Bronfman

Net Worth: $3.15 billion

After his father’s death, Bronfman and his brother inherited the Seagrams liquor empire. He served in various capacities throughout the years but sold the company for billions of dollars.

Bronfman was also the majority owner of the Montreal Expos until 1990. Known for his charitable endeavours, he founded the Andrea and Charles Bronfman Philanthropies.

Richest Canadians

41.  Philip Fayer

Net Worth: $3.02 billion

Fayer is the chairman and CEO of Nuvei Corp, a payment processing company. With the ability to process payments in over 150 currencies, they have over 50,000 customers.

42.  Zhang Ning

Net Worth: $2.89 billion

Ning chairs Red Avenue New Materials Group, a chemical supplier. The company recently made the news when it announced it was producing a compostable polyester. In addition, the company manufactures rubber chemicals and electronic and automotive materials.

43.  Serge Godin

Net Worth: $2.89 billion

Godin is the chairman of the tech firm CGI Group. Founded when he was just 26 with $5,000, he built the company into the business consulting service it is today. Godin started his own family foundation to help with poverty and the educational needs of children and teens in need.

44.  Yuan Liping

Net Worth: $2.77 billion

After her divorce settlement, Yuan Liping walked away an instant billionaire. Liping was married to the “vaccine emperor” of China, Du Weimin. He is the chairman of Shenzhen Kangtai Biological Products. As part of the divorce, he gave his ex-wife nearly half of his stock shares.

45.  Clayton Zekelman

Net Worth: $2.64 billion

Zekelman is part of the family business – Zekelman Industries, which owns Atlas Tube, a steel tubing manufacturer. However, much of Clayton’s wealth comes from his own telecommunication ventures – MNSi and Nexicom.

46.  Michael Lee-Chin

Net Worth: $2.39 billion

Lee studied civil engineering in college but quickly found out he had a mind for investing and dealing with mutual funds. He purchased AIC Canada in the late 1980s and eventually sold it in 2009. Lee currently chairs Portland Holdings, Inc.

47.  Robert G. Miller

Net Worth: $2.26 billion

Miller is the founder of one of the largest electrical component suppliers. Future Electronics has business in 44 countries and generates $5 billion in revenue. Miller is a big environmental conservator and leads many efforts to reduce waste.

48.  Bill Malhotra

Net Worth: $2.26 billion

Malhotra is the founder of Claridge Homes, one of the largest real estate developers in Ottawa. He has a background in engineering and worked as the chief structural engineer for the city of Ottawa before starting his own business.

49.  Hal Jackman

Net Worth: $2.26 billion

Jackman was chairman of National Trust Company and holds a major share of EL Financial Corporation. While most of his wealth comes from insurance and investments, Jackman is most famous for serving as lieutenant governor of Ontario in the 1990s.

50.  Pierre-Karl Peladeau

Net Worth: $2.26 billion

Peladeau is part of the family business. His father founded the communication company Quebecor Inc. in 1965. Young Pierre eventually took over the company’s subsidiaries and eventually oversaw the acquisitions of other media conglomerates.

Conclusion

The 50 Richest Canadians

Canada is now home to more billionaires than ever before. Maybe you feel inspired to up your savings or follow through on one of your crazy ideas.

You never know, it might be your ticket to the big time. If you’re looking for other ways to increase your net worth, check out these tips to get rich.

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Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Wealthawesome.com. Read about how he quit his 6-figure salary career to travel the world here.

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