And are there many first-generation immigrant families among the top 25 wealthiest families in Canada? The fifth family on the list of the top ten richest families in Canada is the Irving family. Charles Bronfman has an estimated net worth of US$2.3 billion, according to Forbes. In 2013, the wealth of the 86 richest families in Canada were equal to the combined wealth of the poorest 11.4 million Canadians. In fact, their 2009 status was $21 billion, which would still put them as Canada’s richest even 11 years on. David first settled in Montreal, and it was there that he began to play a role in the real estate sector. Forbes’ definitive ranking of the richest families in Asia, ranking multigenerational families by net worth. Yes, that would be Canadian dollars, but they’re still very, very rich. Calgary-based brothers Fred and Ron Mannix have inherited over a hundred years of generational wealth, beginning with their grandfather, Frederick Stephen Mannix, who was a railroad contractor before founding the Fred Mannix Company in 1936. Irving took the step to establish the company (he was just twenty-five years old at that time). Well-known family names dominate the B.C. Rogers is largely controlled by the Rogers Control Trust, which is run by Loretta, Edward, Melinda, Martha and Lisa Rogers, descendants of Edward Sr. The Canadian Encyclopedia, s.v. The first store, then called S. Rossy Inc., was opened in 1910 by Lebanese entrepreneur Salim Rossy in Montreal. Modern-day steel magnates, the Zekelman family made their fortune in manufacturing steel tubing, and currently manufactures over 2.5 tonnes of steel products every year. James Richardson & Sons were established in 1857, and the company keeps soaring, making billions in revenue each year. Now active in real estate and sports (Katz owns the Edmonton Oilers), Daryl Katz has a net worth of US$3.1 billion. Next is The Rogers family, and they remain one of the most important families in Canada. The Waltons are the richest family in America and by some measures the wealthiest clan in the world. His father, Barry, founded the Value Drug Mart Associates chain of pharmacies, and after Daryl was old enough to join the family business, the father and son duo went on to purchase the Canadian franchise rights to the Medicine Shoppe. Morocco-born Paul Reichmann immigrated to Canada in the 1950s, and soon after, founded Olympia and York Developments Ltd. with his brother Albert. Now, the Southern family is worth $2.3 billion and has major holdings in ATCO as well as Canadian Utilities, and Nancy herself has made a name as one of Canada’s most prominent business leaders. It has a population size of 141,097 and a median family income of around $82,560. This article is about the top ten richest families in Canada, some who really came to Canada many years back as poor people searching for a better life, but they have a big goal which eventually materialized into something huge. They are well-known for various reasons, but we are considering how they are one of the richest families not just in Canada, but in the world at large. The report by Canadian Centre for Policy Alternatives found that the 87 families “collectively own the same amount as the lowest-earning 12 million Canadians.” ATCO chair and CEO Nancy Southern took over the company holdings from her father Ronald Southern in 2003. A self-made billionaire, Michael Lee-Chin moved to Canada from his native Jamaica in the 1970s. A true pioneer, John Molson also created the country’s first steamship and helped fund the first Canadian railway. By 2015, the family had opened 1,000 stores, with more opening at a breakneck pace, amassing the family a combined net worth of $2.52 billion. Paul Desmarais’ two sons, Paul Jr. and André Desmarais (who is married to France Chrétien, daughter of the former prime minister Jean Chrétien) run the family assets, which include Power Corp., Performance Sports Group and more. Canadian Business publishes an annual feature, “Canada’s richest people,” which assembles the net worth on the 100 richest individuals and families in the country. Now helmed by brothers Geoff, Andrew and Justin Molson, Molson also owns the Montreal Canadiens since 2009. After immigrating to Vancouver from Italy in 1953, bricklayer Luigi Aquilini swiftly established Aquilini Investment Group in the 1960s, effectively promising a future in finance for his sons, Francesco, Roberto and Paolo. The Edmonton-based Daryl Katz is no stranger to drugstore shelves. Company: Saputo, Inc. Net Worth: $5.4 billion; Everyone knows the Saputo family is a very rich family in Canada, and by virtue of being a member of this successful family, Mirella has earned a place in the list of the top richest … Having migrated from Sicily, Lino Saputo, who remained the prominent member of the family, was able to indulge in strategic activities that ensured their success in the North American country. The company grew slowly until 1992, when Salim’s grandson, Larry, opened the first Dollarama in Matane, Quebec. Currently enjoying their statuses, they have kept their various businesses close, despite which industry they operate in. It’s the consequence of a trend that is seeing new wealth creation concentrated at the very top of the socioeconomic ladder. Wealthy Canadians may complain about taxes, but this seems to be a particularly good time to be rich in Canada. Now the Winnipeg-based family firm, James Richardson and Sons, Ltd., headed by Hartley Richardson, is controlled by 11 family members and is still Canada’s largest privately-owned agribusiness firm. Right now, Arthur Irving, who is  K.C.’s son as well as the prominent member of the family, is now in charge and has been able to scale the family’s business to an enviable height. Now his daughters Naomi and Danna run the family’s assets, and are worth a combined. Richest Women In Canada. Thomson Family – Thomson Reuters, Woolbridge Co. – $41.14 billion 2. By far the oldest family on this list, the Molson family empire was launched in 1786 with the establishment of the Molson Brewery, the oldest brewery in North America. Headed by Andreas Apostolopoulos and his three sons, Steve, Jim and Pete, the family owns the Pontiac Silverdome (pictured) and the Penobscot Tower, both in Michigan. Now the two sons are holding the reins and have a joint net worth of $3.3 billion, making them the 26th-richest people in Canada. To identify these communities, MoneySense annually compiles a list of "Canada's Richest Places," ranking each location by "average household net worth." Since Chip stepped down from the board of the brand he founded, the family have moved onto other ventures, including assets worth over half a billion dollars in Vancouver real estate and in Kit and Ace, a casual fashion brand founded by Shannon and J.J, the family is worth an estimated $2.88 billion, Since then, the company has grown steadily, establishing its reputation as an aerospace manufacturer with arms in public transportation, jets and rail transport. Actually, it all started in 1924 when K.C. Now five generations old, the Richardson family empire includes holdings in agriculture, oil and gas, financial management and real estate, a far cry from James Richardson’s origins as a grain trader in the 1850s. Here’s the full rundown of what are (currently) the 100 richest people in Canada. Paul graduated from the University of Ottawa and started with a railroad firm established by his grandfather. If you’re unfamiliar with this power couple, you’re almost certainly familiar with the matriarch by her first name: Heather Reisman, of Heather’s Picks at Indigo, is the founder and chief executive of Indigo Books and Music, as well as the co-founder of Kobo books. The richest Greek family in Canada, the Apostolopoulos family built their. The definitive Canadian Business Magazine ranking of Canada’s 100 … The Thompson family have been Canada’s wealthiest people for a long time now. He served in the Israeli army after the country gained Independence before he removed to Canada. Until then, the family made their name in politics: Bob’s father, Phil, was a cabinet minister in the ‘50s and ‘60s. Not long after, they began buying up liquor companies including Seagram, and soon their empire was in full swing. Today, the prominent member of the family is Naomi Azrieli, and the company has grown into an important wealthy one. In 2013, the Slaight family donated $50 million to Princess Margaret Hospital to further cancer research; in 2017, the family foundation donated $12 million to 15 non-profit organizations to help support different aspects of the Indigenous community. The Slaight family, headed by Allan Slaight and his son Gary, made their billions in media and broadcasting, with shares in Iceberg Radio and SiriusXM among a handful of other companies, but they made their good name in philanthropy. The company went bankrupt in the 1990s following a global real estate crash, but the family was able to relaunch Olympia and York Developments as O and Y Properties and rebuild their empire. The company is quite influential in the Food Industry, and they are a leading food company as far as the Canadian market is concerned. Four generations have now helmed the over-century-old discount goods retailer Dollarama. The late David Azrieli established the business years ago, and he used to live in Quebec. Tag: That’s all about the richest families in Canada, Your email address will not be published. Their next big venture? 1 This city has had the lowest unemployment rate in the country on several occasions, particularly in 2016, when it was reported at 3.9%. There are a lot of billionaires living in the country, and it is interesting to note that these people are from diverse backgrounds and sectors. The Weston family’s empire started with a single bakery in Toronto in 1882 and has grown to encompass well-known companies from the food industry to high fashion. The Richest Families In Canada presently – Canada is a very popular country that is associated with various pleasant things. canoodling with President Trump to stimulate steel growth in the U.S. the family has a net worth of $3.46 billion. One of the most prominent families in Canada, the Leons are also one of the biggest family businesses: many of the 63 of Ablan and Lena Leon’s grandchildren still work for the family business, and the furniture business is run by Edward Leon and Terrance Leon. In fact, Barry Zekelman is an avid race car driver who frequently turns up at races in his Ferrari (pictured). Another prominent Quebec-based family, the Desmarais family grew their fortune after purchasing and rescuing the nearly bankrupt Sudbury Bus Lines in 1951. Seven generations later, the Molsons are still involved in the brewery business, which now encompasses Molson Coors Brewing Company. Required fields are marked *. The Richest Families In Canada presently – Canada is a very popular country that is associated with various pleasant things. The family is now worth $3.92 billion. The ones with a net worth of billions of dollars? Samuel Bronfman founded the Distillers Corporation Ltd. in 1916, distributing liquor through the northern United States during the Prohibition era. Rogers is largely controlled by the, Both Rogers Communications and the Rogers Control Trust are now run by Ted Rogers’ son, Edward Rogers III, and the family has a, combined net worth of $11.57 billion and rising, The company is chaired by Emanuele Saputo Jr., Giuseppe’s grandson, and is active in over 40 countries. Established in the year 1963, Northland Properties is based in Vancouver, and can now boast of many properties (both within Canada and outside the country). The Richardson family is the sixth family on our list, and they are the owner of Richardson International. Co-Founder Bill Gates is the second-richest globally, with a net worth of US$96.5 billion. This article is about the top ten richest families in Canada, some who really came to Canada many years back as poor people searching for a better life, but they have a big goal which eventually materialized into something huge. The Desmarais family is the fourth on the list, and they remained an important family as far as Canada is concerned. Top 10 Richest List, Interesting Rankings Hub. At the most dramatic, there’s Succession-level litigation and family disputes, but most of the time, it’s just about going to work at the ol’ family business—only that business is in shifting assets like Monopoly pieces. The family is actually a Greek-Canadian one that came from Kalamata as far back as 1952. Most recently, intra-family disputes led to major courtroom drama between the 86-year-old Frank Stronach, who made his fortune in auto-parts manufacturing, cattle farming and horse breeding, and his daughter Belinda, whom he was grooming to take over as his successor. Later, the Katz family also bought Rexall, expanding it into a major player in the U.S. and in Canada. Despite various challenges, he was able to grow the family’s wealth and reputation in Canada. The Thomson family is regarded as the richest family in the country currently, and they lead the pack. The richest families in Canada as of March 2020, according to Forbes, include familiar names like Galen Weston and the Saputo Family, but also White Claw owner Anthony Von Mandl. Four generations on, the family is worth an estimated $2.88 billion. Microsoft Corp. The Bombardier legacy started when Joseph-Armand Bombardier invented and began independently manufacturing the first snowmobile in 1936, launching the Garage Bombardier. 87 richest families in Canada have 4,000 times more wealth than average family, report says 'Wealth in Canada is concentrating at the top, with the wealthiest families … The answer to that last question is not many, but there is a handful. They have a combined net worth of $3.13 billion. Like us on Facebook to see similar stories, Police locate vehicle they suspect is connected to attack on Montreal officer, Opinion: Climate plan is a jobs creator, says Gina McCarthy, Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article, This Pillowcase Is Quickly Becoming The Must-Have Gift Of 2020, This Is Why Dealerships Pour Baking Soda On Car Seats, The Real Reason Your ‘Check Engine’ Light Is On, Ever wonder what it’s like to be born into billions? Now 66 years old, Lee-Chin has slowly amassed his fortune in the financial services industry, chairing the mutual fund company AIC Canada, Portland Holdings, Inc. and the National Commercial Bank of Jamaica. His grandfather Roy Thomson established the family legacy as a press baron in Canada and the UK in the ‘30s. He used to be a janitor, who combined his jib with other side hustles just to make end means. B.C. 174 – Galen Weston & family. The company, which has created thousands of jobs in Canada, is enjoying dominance in the market. The Survey of Financial Security is conducted periodically by Statistics Canada, with data for 2016 being the most recent available. Rogers communications were established by Edward Rogers, Jr. in the year 1960, and Edward, who is the prominent member of the family, has been able to ensure the success of his venture despite starting at a pretty young age. After selling Seagram spirits for $34 billion, the Bronfman family turned their attention to philanthropy, having donated or pledged at least $350 million to charity. To get a sense of which families really run this country, here’s a list of the richest clans in Canada. Guelph, located in the province of Ontario, is the fifth richest city in Canada and the least populated on this list. Easily one of the most recognizable names in Canada, Rogers Communications has its fingers in everything from television and broadcasting, where it owns Citytv, Omni and a handful of specialty TV and radio stations, to publishing (their titles include Chatelaine, Today’s Parent, Maclean’s and MoneySense) to cable service and wireless cellular communications. With a combined net worth of US$4.9 billion, the Quebec-based Saputo family, cheese and dairy moguls, has been a prime example of the generational rags-to-riches immigrant story. On top of owning malls, office buildings, hotels including the Fairmount Empress Hotel Vancouver (pictured), and other pieces of property in British Columbia under the company name Larco, they also claim an ownership stake in seven federal office buildings in Ottawa—effectively becoming the landlord of the Canada Revenue Agency. The Montreal-based family still controls, By 2015, the family had opened 1,000 stores, with more opening at a breakneck pace, amassing the family a, The company is now headed by Larry’s son Neil Rossy, they were ranked the fourth-richest family in the world in 1991 by. George Weston Ltd. is now chaired by his son, Galen Weston Jr. Their activities keep benefiting the country in various ways, as they help in creating jobs (which reduced the rate of unemployment in the country and has helped prevent some socioeconomic problems that would have erupted as a result of lack of job), increased the country’s revenue (in terms of taxes), etc, Here we go. The drugstore chain now has over 400 franchised locations in New Brunswick, Ontario and Quebec, but it has also made significant acquisitions in the U.S., where it had a 32 per cent equity stake in the Rite Aid drugstore chain until 2013 and currently operates the pharmacy arm of Metro Inc. Sobey first founded a meat delivery business, carting meat and livestock from local farmers to customers with a horse-drawn carriage in 1907. Headed by Carlos Slim, the sixth richest man in the world today, this family is worth $ 77.1 billion to occupy the 6th position. With one of Canada’s best-known surnames, Rogers Communications plays on several tables including television broadcasting, where it owns the channels Citytv, Omni as well as several other specialized television and radio stations, publishing (it owns magazines Chatelaine, Today’s Parents, Maclean and MoneySense) and cable and cellular telephony. They own Triple Group of Companies, and Andreas Apostolopoulos, who is the prominent member of the family, is the main brain behind it. Another father-and-son team, the Vancouver-based Bob and Tom Gaglardi started their empire with the opening of the first Sandman Inn hotel in 1963. David Thomson is the richest person of Canada and ranked first in the list of top 10 richest people of Canada with as estimated net worth of US $ 25.5 billion and also ranked at 25 on the world billionaire list. As he experienced growth, he began to look towards the real estate sector, and he has made a lot from real estate development. Now one of the top 10 dairy producers in the world, Saputo was founded in 1954 by patriarch Giuseppe Saputo in Montreal, with nothing more than $500 and a bicycle to make deliveries. While the company Zekelman Industries Inc. is based in Windsor, the family, led by patriarch Barry Zekelman, can be found flashing their lavish lifestyles, making good use of a billionaire’s network of sports cars, private jets and a 121-foot superyacht to get them where they need to go. The Thomson family, majority owners of the media conglomerate Thomson Reuters, are the richest family in Canada by a huge margin, with a wealth estimated at over $30B. The elder Lee-Chin’s estimated net worth is $3.95 billion, making him the 20th-richest person in Canada. Notify me of follow-up comments by email. The wealth of Canada’s richest family originated in the early 1930s when Roy Thomson opened an Ontario radio station. These numbers "highlight the scale of wealth inequality in Canada," the publication states. The ranks of Canada’s super-rich are growing faster than they are … The Alberta-based corporation, which has holdings in energy, utilities, construction, and the equestrian facility Spruce Meadows, was established in 1947 as Alberta Trailer Hire and very quickly launched themselves into the energy sector. Your email address will not be published. One impressive point that should be noted is that Richardson International had has been privately held by this family for years now. The Edmonton-based Daryl Katz is no stranger to drugstore shelves. By far the oldest family on this list, the Molson family empire was launched in 1786 with the establishment of the Molson Brewery. By 1987, the family had made their first billion dollars in sales; by 2013, they could count Safeway and The Oshawa Group of suppliers, as well as some Shell retail gas locations among their assets. After a couple of American and French families, we move southwards towards Mexico for its richest family, the Slim Family. Of course, it’s not meant to be a stagnant list, as we expect more families to have a taste in the coming years, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). Nevertheless, the company grew impressively, and now has a workforce that runs into thousands of people, making a lot of money each year, and bringing more wealth to the family. The family is worth a combined $6.55 billion. The Bronfman family amassed their fortune in the distillery business at an opportune time. Rogers Family – Rogers Communication – $11.57 billion 5. The 87 richest families in Canada have the same amount of wealth as roughly one-third of the country’s population. They are associated with Irving Oil – a big oil and gas firm that has created a lot of job opportunities, and that keeps bringing more money to the family. David Thomson. With a combined net worth of US$37.5 billion, the Thomson family is the richest family in Canada, and the 27th-richest family in the world, according to the Forbes annual Billionaires ranking. As one of the richest countries in the … The tenth family on our list is the popular McCain Family. The family is ranked, Another prominent Quebec-based family, the Desmarais family grew their fortune after purchasing and rescuing the, nearly bankrupt Sudbury Bus Lines in 1951, operates almost all of New Brunswick’s major print publications, Currently the family, headed by Kenneth Irving, has an estimated, Now five generations old, the Richardson family empire includes, holdings in agriculture, oil and gas, financial management and real estate. Way to Montreal in the 1950s s assets, and the list includes billionaires. Fourth on the list of media, publishing, pharmaceutical and financial services companies through northern. 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