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How Many Billionaires Are in Canada?

The number of millionaires in Canada has risen despite the various economic issues that plagued the past few years. 

David Thomson of Thomson Reuters, Dennis “Chip” Wilson of Lululemon, and Professor David Cheriton of Stanford University have all remained ensconced in their status as among the top Canadian billionaires.

If you want to know how many billionaires in Canada are on the Forbes World’s Billionaires List 2022, look no further.

This article will provide detailed information on the wealthiest people in Canada, their net worth, and the source of their wealth.

How Many Billionaires Live in Canada?

As per the Forbes 2022 report, there are 65 Canadian billionaires.

Among those listed as billionaires in Canada by Forbes is the second-richest Canadian, David Thomson of the Thomson Reuters empire, who resides in Toronto with his family.

Canada also has several self-made billionaires living in various provinces. Some of the top Canadian billionaires by province are as follows:

  • Jim Pattison (Jim Pattison Group) – Vancouver, BC
  • Anthony von Mandl (Mark Anthony Group) – Vancouver, BC
  • Dennis “Chip” Wilson (Lululemon) – Vancouver, BC
  • Alain Bouchard (Alimentation Couche Tard Inc.) – Montreal, QC
  • Tobias Lütke (Shopify) – Ottawa, ON
  • Emanuele and Lino Saputo & family (Saputo)  – Montreal, QC

Canadian Billionaires in 2023

Below are the top 14 billionaires in Canada, their rank, net worth, and source of wealth.

NameRankNet WorthSource of Wealth
1. Changpeng Zhao19$65BCryptocurrency Exchange
2. David Thomson & family26$49.2BMedia
3. Jim Pattison152$12.2BDiversified
4. David Cheriton180$10.9BGoogle
5. Joseph Tsai254$8.4BE-Commerce
6. Anthony von Mandl254$8.4BAlcoholic Beverages
7. Mark Scheinberg509$5.3BOnline Gambling
8. Dennis “Chip” Wilson509$5.3BLululemon
9. Alain Bouchard552$5BConvenience Stores
10. Huang Chulong552$5BReal Estate
11. Tobi Lutke552$5BE-Commerce
12. Emanuele (Lino) Saputo & family586$4.8BCheese
13. Leonid Boguslavsky601$4.7BVenture Capital
14. Bruce Flatt622$4.6BMoney Management

Who Are the Top 10 Richest People in Canada?

Below are the top 10 richest people in Canada based on their net worth (and four additional). The information also includes their current position, residence, age, rank, and source of their wealth.  

1. Changpeng Zhao

  • Founder and CEO of Binance 
  • Residence: Dubai, United Arab Emirates
  • Age: 45
  • Rank: 19
  • Net worth: $65B
  • Source of wealth: Cryptocurrency Exchange

Changpeng Zhao, known as CZ, is the founder and CEO of Binance, the world’s largest cryptocurrency exchange in terms of the daily trading volume of cryptocurrencies. The Chinese-born Canadian businessman previously developed high-frequency trading software.

2. David Thomson & family

  • Chairman of Thomson Reuters
  • Residence: Toronto, Canada
  • Age: 65
  • Rank: 26
  • Net worth: $49.2B
  • Source of wealth: Media

David Thomson and his family manage the media and publishing giant Thomson Reuters. He is co-chairman of Woodbridge (their investment company) and holds a 14% stake in it. He also chairs Thomson Reuters, of which he and his family have over 320 million shares. 

Related: Net worth by age in Canada

3. Jim Pattison

  • Founder, Chairman and CEO of Jim Pattison Group
  • Residence: Vancouver, Canada
  • Age: 94
  • Rank: 152
  • Net worth: $12.2B
  • Source of wealth: Diversified

A self-made billionaire, Jim Pattison is the chief executive and chairman of the Jim Pattison Group, a collection of businesses with 25 divisions (including automotive, food, and entertainment). The group of companies makes $9.7 billion in annual sales. Pattison also holds over 40% of Cantor, a publicly-traded forest products company.

4. David Cheriton

  • Professor Emeritus of Computer Science, Stanford University
  • Residence: Palo Alto, California
  • Age: 71
  • Rank: 180
  • Net worth: $10.9B
  • Source of wealth: Google

David Cheriton, another self-made billionaire, earned his fortune owing to an early investment of $100,000 he made in Google in 1998 when the company was just starting. Today, Cheriton still holds the same position at Stanford.

5. Joseph Tsai

  • Vice Chairman and Co-founder, Alibaba Group
  • Residence: Hong Kong, Hong Kong
  • Age: 59
  • Rank: 254
  • Net worth: $8.4B
  • Source of wealth: Alibaba Group, e-Commerce

Taiwan-born Canadia Joseph Tsai holds a 1.4% stake in Alibaba Group, where the majority of his wealth is from. He has been with the company since its inception. The Yale University graduate also owns the Brooklyn Nets National Basketball Association team.

6. Anthony von Mandl

  • Founder and Chief Executive, Mark Anthony Group
  • Residence: Vancouver, Canada
  • Age: 72
  • Rank: 254
  • Net worth: $8.4B
  • Source of wealth: Alcoholic Beverages

Anthony von Mandl, also a self-made billionaire, is the proprietor of a collection of family-owned luxury wineries in British Columbia. His company, which produces White Claw Hard Seltzer and Mike’s Hard Lemonade, makes about $4.6 billion in annual sales. von Mandl likewise owns five wineries in Canada. 

7. Mark Scheinberg

  • Entrepreneur
  • Residence: Isle of Man, United Kingdom
  • Age: 49
  • Rank: 509
  • Net worth: $5.3B
  • Source of wealth: Online gambling

Mark Scheinberg made his multi-billion-dollar fortune through the world’s biggest online poker company, PokerStars, which he founded with his father in 2001. In 2014, he sold PokerStars for $4.9 billion to Amaya Gaming, making him an instant billionaire.

Scheinberg ventured into high-end real estate and hospitality in 2017. He has investments in the ultra-luxury cruise line Ritz-Carlton Yacht Collection, a Madrid hotel, and a luxury resort in Costa Rica.

Related: How many millionaires live in Canada

8. Dennis “Chip” Wilson

  • Chairman, Lululemon Athletica
  • Residence: Vancouver, Canada
  • Age: 66
  • Rank: 509
  • Net worth: $5.3B
  • Source of wealth: Lululemon

Chip Wilson started the athleisure company Lululemon with a single store in 2000, which he took public in 2007. Despite leaving the company in 2015, he remains the largest individual shareholder, holding an 8% stake.

Now, he and his family run Hold It All, a holding company for their personal business interests. It includes real estate, private equity, passive investments, and philanthropy. Wilson also has stakes in a Chinese activewear company.

9. Alain Bouchard

  • Chairman and CEO, Alimentation Couche Tard Inc.
  • Residence: Montreal, Canada
  • Age: 74
  • Rank: 552
  • Net worth: $5B
  • Source of wealth: Convenience stores

After launching his first convenience store in 1980, Alain Bouchard established Alimentation Couche-Tard. The business grew from there through acquisitions of companies like Circle K and Holiday Stationstores. Today, Bouchard still manages the company, which owns over 14,000 stores worldwide.

10. Huang Chulong

  • Chairman, Galaxy Group
  • Residence: Shenzhen, China
  • Age: 64
  • Rank: 552
  • Net worth: $5B
  • Source of wealth: Real Estate

Huang Chulong is the current chairman of Galaxy Group, a private real estate developer based in Shenzhen that has been operating for over 32 years. His business ventures span hotels, shopping malls, parking-lot operations, office leasing, and real estate development.

11. Tobias Lütke

  • Founder and CEO of Shopify
  • Residence: Ottawa, Canada
  • Age: 42
  • Rank: 552
  • Net worth: $5B
  • Source of wealth: e-Commerce

Tobias “Tobi” Lütke is the co-founder and CEO of the e-commerce platform Shopify, which helps businesses set up and operate online stores. He owns approximately 6% of Shopify, a popular platform hosting about two million businesses online.

12. Emanuele (Lino) Saputo & family

  • Chairman, Saputo
  • Residence: Montreal, Canada
  • Age: 86
  • Rank: 586
  • Net worth: $4.8B
  • Source of wealth: Dairy and cheese products

Emanuele Saputo and his family founded their cheese business in the 1950s. He became president in 1969 and remained chairman until he retired in 2017.

His son, Lino Jr., who succeeded as chairman, took the company public in 1997. The family has extensive investments in real estate, hotels, golf courses, a trucking business, and forest products.

13. Leonid Boguslavsky

  • Founder of RTP Global
  • Residence: Florence, Italy
  • Age: 70
  • Rank: 601
  • Net worth: $4.7B
  • Source of wealth: Venture Capital

RTP Global founder Leonid Boguslavsky is one of the pioneers of Internet investing. He has invested in several businesses that have become multi-billion dollar public companies. These include Yandex, Datadog, and RingCentral. 

14. Bruce Flatt

  • Chief Executive Officer, Brookfield Asset Management
  • Residence: London, United Kingdom
  • Age: 56
  • Rank: 622
  • Net worth: $4.6B
  • Source of wealth: Money Management

Bruce Flatt has been the CEO of Brookfield Asset Management since 2002. One of the largest alternative asset managers in the world, Brookfield used to be the Canadian conglomerate Brascan, which Flatt helped revive. He and a group of partners own 20% of Brookfield.

How Many Billionaires Are in Toronto?

Based on Forbes’ list, 14 billionaires live in the area. The names of the richest people in Toronto are as follows:

NameRankNet WorthSource of Wealth
1. David Thomson & family26$49.2BMedia
2. Carlo Fidani687$4.2BReal Estate
3. Mark Leonard & family1238$2.5BSoftware
4. Stephen Smith1096$2.8 BFinance and Investments
5. Jack Cockwell1163$2.7BReal Estate, Private Equity
6. Jay Hennick1513$2BReal Estate Finance
7. Hal Jackman1645$1.8BInsurance, Investments
8. Gerald Schwartz1818$1.6BFinance
9. Naomi Azrieli1929$1.5BReal Estate
10. Michael McCain2448$1.1BPackaged Meats
11. Ronnen Harary2448$1.1BToys
12. Anton Rabie2448$1.1BToys
13. John Phillips2448$1.1BInvestments
14. Catherine Phillips2448$1.1BInvestments

Related: Top 10 richest families in Canada

FAQs

What percentage of Canada are millionaires?

Based on the 2022 Global Wealth Report (with 2021 data), the number of Canadian millionaires increased to 2,291,000 in 2021. The country’s 2021 population was 38,246,108. This puts the percentage of millionaires in Canada in the same period at around 5.99%.

Who is the richest person in Canada?

According to the Forbes Report, Changpeng Zhao, Binance founder and CEO, is the richest person in Canada in 2022, with a net worth of $65 billion. Meanwhile, the Bloomberg Billionaires Index ranks Sherry Brydson as the richest Canadian, with her net worth tagged at $14.3 billion.

Which province in Canada has the most millionaires?

Ontario has the most millionaires in Canada. Specifically, Toronto has been ranked as the Canadian city with the most millionaires – totalling 116,100 – and 17 billionaires. The city has been listed in the top 20 cities for the ultra-wealthy.

What’s the richest neighbourhood in Canada?

The community of Sunnybrook in Toronto, ON, is the richest neighbourhood in Canada. Its average annual household income is $289,434, while the average household net worth is $22,709,428.

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Author

Gravatar for Brianna Harrison
Brianna Harrison

Brianna is a writer from Toronto, Canada, specializing in the personal finance and tech niche. She has been writing, editing, and proofreading for over 5 years as a freelancer, and her writing has been featured in The Globe and Mail. She loves to travel, meet new people, and discover new places. When she’s not writing or travelling, Brianna likes to bake, decorate cakes, and even ran her own custom cake business.

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