While millions of Canadians lost their jobs because of the COVID-19 pandemic, the country’s top 20 billionaires have amassed an average of nearly $2 billion each in wealth during six of the most economically catastrophic months in Canadian history, for a combined total of $37 billion.
The list of Canada’s richest billionaires for 2020 has been released, and the top spot goes to David Thomson and their family, with a net worth of $27.2 billion. Coming in second is Galen Weston Jr. and their family with a net worth of $13.4 billion, followed by Jim Pattison with $10.5 billion.
The list features 11 billionaires, with their fortunes ranging from $4.7 to $27.2 billion. The average net worth among Canada’s richest billionaires is $8.1 billion, up from $6.9 billion in 2019. As Canada’s economy continues to grow, so too does the wealth of its richest citizens.
Here Are Canada’s Richest billionaires 2020
10. Anthony von Mandl
Anthony von Mandl is a Canadian billionaire and wine mogul. He is the co-founder of Mission Hill Winery, one of Canada’s most prominent wineries. In 2020, he was ranked as the 9th richest person in Canada, with a net worth of $3.3 billion.
Von Mandl was born in Austria in 1954. He moved to Canada in 1981 and founded Mission Hill Winery with his brother Michael in 1992. The winery quickly became one of the largest in Canada, and von Mandl himself became a prominent figure in the Canadian wine industry.
Von Mandl has been involved in several other business ventures, including real estate and tourism. He is also a major donor to charitable organizations, including hospitals and arts organizations.
Net Worth: $3.3 B
Source: Alcoholic Beverages
Industries: Food & Beverages
9. Emanuele (Lino) Saputo & family
Emanuele (Lino) Saputo, Jr. is a Canadian businessman, entrepreneur and philanthropist who is the chairman of dairy company Saputo Inc. He has been named one of Canada’s richest billionaires in 2020, with an estimated net worth of $4.7 billion.
Lino Saputo was born in Montebello, Quebec, in 1947. He started working at his father’s cheese factory at 14 and eventually took over the business, renaming it Saputo Inc. The company has since become one of the largest dairy producers in the world, with operations in Canada, the United States, Argentina and Australia.
Saputo is a generous donor to charitable causes and has supported food banks and cancer research initiatives. In 2016, he and his wife donated $25 million to McGill University’s Faculty of Medicine.
Net Worth: $3.8 B
Industries: Food & Beverages
8. Jim Pattison
Jim Pattison is one of Canada’s richest billionaires. He has a net worth of $4.3 billion as of 2020. He made his fortune in the food and beverage industry, and he now owns several businesses in Canada and the United States. He is also a major philanthropist, and he has given millions of dollars to charity over the years.
Net Worth: $4.3 B
7. James Irving
James Irving has a net worth of $10.9 billion as of 2020, making him the richest person in Canada. He is the co-founder of Irving Oil Ltd., one of the country’s largest energy companies. Irving also has interests in forestry, real estate, and other businesses. For many years, he and his family have been ranked among Canada’s wealthiest billionaires.
Net Worth: $4.5 B
6. Mark Scheinberg
Mark Scheinberg is the son of Isai Scheinberg, the founder of PokerStars. Born in Tel Aviv, Israel, Mark and his family moved to Canada when he was young. After completing his education, Mark began working for PokerStars alongside his father. When PokerStars was sold to The Stars Group in 2014, Mark became one of the richest people in Canada, with an estimated net worth of $2.9 billion. In 2020, he ranks as the 10th richest person in Canada and 234th richest person in the world.
Net Worth: $4.9 B
Source: Online Gaming
Industries: Gambling & Casinos
5. Huang Chalong
Huang Chalong is a Canadian billionaire who made his fortune in the tech industry. He is the co-founder of several successful startups, including Hootsuite and Shopify. In 2020, he was ranked as the 4th richest person in Canada, with a net worth of $5.1 billion. Huang has been described as a “self-made man” and is known for his philanthropy, having donated millions of dollars to various causes.
Net Worth: $5.1 B
Source: Real Estate
Industries: Real Estate
4. David Cheriton
David Cheriton is a Canadian computer scientist and billionaire. He is one of the richest people in Canada, and he has made some significant contributions to computing. Cheriton was born in England, but he moved to Canada when he was young. He studied at the University of Waterloo, where he met his future business partner, Mike Lazaridis.
Together, Cheriton and Lazaridis founded a company called Research In Motion (now known as BlackBerry). They both made a lot of money from that company, and Cheriton became a major investor in several other successful startups.
Today, Cheriton is worth an estimated $2.5 billion, making him one of the richest people in Canada. He has been an important figure in the development of computing technology, and he continues to make significant contributions to the field.
Net Worth: $5.5 B
3. Galen Weston & family
Galen Weston is the Chairman and CEO of Loblaw Companies Ltd., one of Canada’s largest retailers. He also owns Wittington Investments, controlling stakes in several major Canadian companies, including Holt Renfrew & Co., Selfridges Group, and Brown Thomas Group. The Weston family is worth an estimated $15.6 billion, making them the country’s richest billionaires for 2020.
The Westons got their start in the grocery business in 1882 when Galen’s great-grandfather, George Weston, opened a bakery in Toronto. His son, Garfield, took over the company in the 1930s and grew it into a major player in the Canadian food industry. In 1956, Garfield’s son George founded Loblaw Companies Ltd. with a single store in Toronto. The Westons have been consistently ranked as one of Canada’s wealthiest families.
Net Worth: $7 B
Industries: Fashion & Retail
2. Joseph Tsai
Joseph Tsai, the co-founder of Alibaba Group and owner of the Brooklyn Nets, is now Canada’s richest billionaire. According to Forbes’ list of the world’s billionaires for 2020, Tsai has a net worth of $11.9 billion, up from $10.8 billion last year. That makes him the country’s eighth richest person, ahead of Montreal’s Stephen Jarislowsky (net worth: $11.7 billion) and behind Vancouver’s Chip Wilson ($12.1 billion).
Tsai moved to Canada in 1987 to attend McGill University. After graduating with a bachelor’s degree in electrical engineering, he went on to earn an MBA from Yale University. In 1999, he teamed up with Jack Ma to found Alibaba, now one of the world’s largest online retailers. He currently serves as executive vice-chairman of the company.
Net Worth: $10 B
1. David Thomson & family
David Thomson is the richest man in Canada, with a net worth of $25.5 billion as of 2020. He made his fortune in media and publishing, and today his company Thomson Reuters is one of the largest news providers in the world. Thomson and his family also have a significant investment portfolio, including stakes in companies like Google, Facebook, and Apple. The Thomsons are one of the wealthiest families in Canada, and they’re only getting richer.
Net Worth: $31.6 B
Industries: Media & Entertainment
Source: | Forbes