Last month, Forbes released their annual list of the richest people on Earth. The list has some interesting insights into the state of the world's billionaires. The article mentions amongst other things that from 2018 to 2019 there were 247 billionaires that dropped out of the list. This is the highest number of drop-outs (so to speak) since 2009 and the financial crisis.
There are a significant number of Canadians on the list — 45 billionaires, to be exact. We've compiled the list of the 10 richest Canadians below.
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TL;DR The ten people below are the richest people in Canada according to Forbes.
1. David Thompson and Family
Global Ranking: #27
Why They're Rich: The family manages a publishing and media empire, started by David's grandfather Roy Thompson. They own $350M worth of shares in Thomson Reuters, as well as shares in Bell and The Globe and Mail.
2. Joseph Tsai
Global Ranking: #147
Why He's Rich: Tsai is the co-founder and vice chairman of Alibaba, the e-commerce giant. It is the world's fifth-largest internet company by revenue. He also owns 49% of the Brooklyn Nets National Basketball Team.
3. Galen Weston
Global Ranking: #174
Why He's Rich: Weston is the chairman emeritus of George Weston, a Canadian food and retail company that was founded by his grandfather. He redesigned and re-energised Loblaws, which was a struggling brand for a while.
4. James Irving
Global Ranking: #209
Why He's Rich: James Irving owns J.D. Irving, a Canadian umbrella corporation comprised of shipping, retail, transport and frozen food companies, amongst many others. You might recognise the name as one that adorns many gas stations.
5. Jim Pattison
Global Ranking: #272
Why He's Rich: The Canadian billionaire oversees a variety of companies, with businesses in the entertainment industry and the food industry, amongst others.
6. David Cheriton
Global Ranking: #298
Why He's Rich: Cheriton invested $100,000 in Google when it was just starting out. The billionaire teaches at Stanford University.
7. Emanuele (Lino) Saputo and Family
Global Ranking: #343
Why He's Rich: Saputo chaired Saputo until 2017, when he retired. The dairy company is well-known amongst Canadians. Saputo's father founded the company with $500 and a bicycle for deliveries.
8. Garrett Camp
Global Ranking: #413
Why He's Rich: The Canadian businessman and investor co-founded Uber in 2009. Before Uber, he cofounded the search tool StumbleUpon, which he sold to eBay for $75M.
9. Mark Scheinberg
Global Ranking: #424
Why He's Rich: Scheinberg co-founded the online gaming website PokerStars with his dad, which they sold in 2014. He now invests all over the world, including investing in a Toronto hotel.
10. Alain Bouchard
Global Ranking: #568
Why He's Rich: Bouchard founded Couche-Tard, the gas station/dépanneur whose logo is instantly recognisable to any Quebecer. He founded the convenience store conglomerate with a single store back in 1980.
Check out Forbe's full list here!