With the collapse of the market caused by coronaviruses, the richest billionaires in Great White North have witnessed their fate decline.
Wwith a weaker Canadian dollar and a coronavirus pandemic-ravaged stock market, Canada’s richest people are poorer than last year.
The 10 richest billionaires in Great White North have a combined net worth of $ 80 billion on the Forbes 2020 World Billionaires list, down from $ 87.1 billion last year. Only four – Joseph Tsai, Huang Chulong, Mark Scheinberg and newcomer Anthony von Mandl – saw their wealth increase this year, which includes 44 Canadians.
David Thomson, chairman of media conglomerate Thomson Reuters, once again made headlines on the list of Canada’s richest people. With a net worth of $ 31.6 billion, Thomson is the 24th richest person in the world and more than three times richer than Canadian No. 2 Tsai, one of the founders of China’s e-commerce giant Alibaba and owner of the NBA Brooklyn Nets team.
The success of von Mandl White Claw’s hard seltzer and Huang real estate empire put them in the top 10 countries for the first time. Both hit Alain Bouchard, one of the founders of the Couche-Tard department store chain, and Garrett Camp, one of the founders of the vehicle that called the giant Uber. Camp is also Canada’s biggest loser this year, down $ 2.9 billion as Uber shares fell after an initial public offering in May 2019.
Out of the top 10, several other billionaires also have years of probation, with six Canadians on the list. The richest dropoff is N. Murray Edwards, oil and mining tycoon and partial owner of the NHL Calgary Flames. Also from the list is Dani Reiss, CEO of Canadian outerwear maker Canada Goose, whose shares have plummeted more than 70% since last year.
Here are 10 of Canada’s richest people:
Note: All figures are March 18, 2020.
THOMSON DAVID & FAMILY
NET WORTH: $ 31.6 billion
OVERALL RATING: No. 24
RESOURCES OF WEALTH: MEDIA
Thomson Reuters has the type of year that should be pushed ThomsonWealth, with operating profit increased by 60% in 2019. However, Thomson is still on the list this year worse than last year, thanks to nearly 30% of Thomson Reuters Stock shares between February 21 and March 18.
NET WORTH: $ 10 billion
OVERALL RATING: 135
RESOURCES OF WEALTH: ELECTRONIC TRADE
Alibaba’s founder (and owner of Brooklyn Nets) remains the second largest shareholder of this e-commerce site with 2% of shares, behind only Jack Ma. Tsai is the richest of eight Canadian technology billionaires.
GALEN WESTON & FAMILY
NET WORTH: $ 7 BILLION
OVERALL RATING: No. 208
RESOURCES OF WEALTH: RETAIL
Weston is the head of the third generation George Weston, a Canadian food and retail giant founded by his grandfather in 1882. His son now runs the company.
NET WORTH: $ 5.5 BILLION
OVERALL RATING: No. 293
RESOURCES OF WEALTH: GOOGLE
A Stanford emeritus professor of computer science, Cheriton made an initial investment in Google, which was founded by two diligent Stanford graduate students. Cheriton has founded three computer network companies, including Arista Networks.
NET WORTH: $ 5.1 BILLION
OVERALL RATING: No. 320
RESOURCES OF WEALTH: HOUSING
Canadian citizens living in China, Huang is Canada’s biggest winner, with an increase in wealth of $ 2 billion since last year. His privately owned Galaxy Group has developed more than 538 million square feet of real estate in China.
NET WORTH: $ 4.9 BILLION
OVERALL RATING: No. 345
RESOURCES OF WEALTH: GAMBLING ONLINE
NET WORTH: $ 4.5 BILLION
OVERALL RATING: 383
RESOURCES OF WEALTH: DIVERSIFICATION
Irving two sons now lead his conglomerate, J. Irving, who is one of the largest shipbuilders in Canada. The company is also active in the fields of wood, frozen food, retail, and others; one of its divisions, Irving Woodlands, is the sixth largest landowner in the US, with 1.25 million hectares.
NET WORTH: $ 4.3 BILLION
OVERALL RATING: No. 414
RESOURCES OF WEALTH: DIVERSIFICATION
This independent billionaire started his conglomerate with only one GM dealer in 1961. Pattison now has a U.S. indoor water park chain Great Wolf Lodge, Guinness World Records and 40% stake in the Canfor forest products company.
EMANUELE (LINO) SAPUTO & FAMILY
NET WORTH: $ 3.8 BILLION
OVERALL RATING: No. 484
RESOURCES OF WEALTH: CHEESE
Saputo Father immigrated to Canada from Italy and started a dairy company with $ 500 and bicycles for shipping. In fiscal 2019, Saputo Inc. selling more than $ 9 billion in cheese, milk and other products.
ANTHONY VON MANDL
NET WORTH: $ 3.3 BILLION
OVERALL RATING: 590
RESOURCES OF WEALTH: ALCOHOLIC BEVERAGES
Probably the biggest alcoholic mode in the past year – White Claw Hard Seltzer – which drives the owner von Mandl into the ranks of billionaires. From January to March 22, White Clase sales rose 40%, according to the company. Low profile Canadians also have Mike’s Hard Lemonade and have been in the beverage industry since he was 22 years old.
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