Top 10 Richest People In Canada (2023)

Canada is one of the countries in the world known for economic and political stability. The country produced a total of 67 billionaires, making them the eighth country with the highest billionaire in the world. However, we have compiled a list of the top 10 richest people in Canada in this article.

First off, a report states that 67 billionaires now reside in Canada, with a total fortune of US$100 billion, an increase of 15%. (or 4.5 per cent). It is true that there are many billionaires in Canada. Some of Canada’s richest people inherited their wealth, while others launched their businesses less than ten years ago.

The whims of the stock market can cause a billionaire’s fortune to fluctuate by millions of dollars every day and in either direction.

While the majority of today’s billionaires are younger than those of the past, several heritage family institutions still control a significant portion of the nation’s wealth. But who are these billionaire family empires, exactly? The 20 families listed below are important to remember.

It’s no secret that a large portion of the population makes five or six figures a year in our materialistic society. In reality, recent years have seen some of the largest-ever transfers of personal wealth.

Are you curious about Canada’s richest person? In that case, you are in the right place.

Key Details

• David Thomson is the richest man in Canada.
• Changpeng Zhao is the richest crypto billionaire in Canada
• There are over 50 Billionaires in Canada

Top 10 Richest People In Canada

The table below contains the names and net worth of the top 10 richest people in Canada in 2023.

1. David Thomson

David Thomson is the richest man in Canada.

David Thomson is the richest man in Canada in 2023; he is the grandson of Roy Thomson, founder of  Thomson Corporation. With an estimated net worth of $52.2 Billion. He became the chairman of Thomson Corporation and also inherited his father’s British title, Baron Thomson of Fleet.

The Canadian/British hereditary peer and media tycoon was born on June 12, 1957.
After his father passed away in 2006, Thomson took over as chairman of Thomson Corporation and was given the British title of Baron Thomson of Fleet. After Reuters was acquired in 2008, Thomson was named chairman of the new company, Thomson Reuters.

With an estimated net worth of $52.4 billion as of November 2022, Thomson is the richest person in Canada and the 23rd richest in the entire globe. David Thomson is first on our list of the top 10 richest people in Canada.

Thomson started his business career as a junior associate at McLeod Young Weir in Toronto. He left the firm to enter the family business, working in several positions in companies controlled by the Thomson family.

Trying to develop a business outside the family fortune he founded Osmington Incorporated, a real estate firm that acquires and manages commercial real estate assets on behalf of institutional shareholders. Thomson is also the chairman of the Globe and Mail newspaper,  Woodbridge, and  Thomson Reuters after the corporation acquired Reuters in 2008.

2. Changpeng Zhao

Richest People In Canada

Changpeng Zhao is the founder of Binance, the world’s largest cryptocurrency exchange by trading volume and the second richest man in Canada in 2023. With an estimated net worth of $65 billion, according to Forbes.  He was born in China and moved to Canada at a young age with his family.

Both of his parents were educators in China. Prior to being deported to rural areas and labelled a “pro-bourgeois genius,” Zhao’s father was a university instructor. In his adolescent years, Zhao worked a variety of service jobs, including at a McDonald’s, to support his family.

Before the establishment of Binance, he studied computer science at McGill University. After university, he worked as a developer for Bloomberg. He then became a partner at Fusion Systems. In 2013, he became Head of Development at Blockchain.

In 2015, Chanpeng Zhao started Bijie Tech, an exchange systems provider. Then in 2017, he launched Binance Holdings Inc. Binance is not publicly traded but has invested in important companies like Coinmarketcap, making it one of the largest stakeholders in the crypto world. Changpeng Zhao is second on our list of the top 10 richest people in Canada

Eleven days after Binance’s initial coin sale, which was successful in raising $15 million, trading on the exchange started. Zhao developed Binance into the largest cryptocurrency exchange in the world by trading volume in less than eight months.

In 2017, Zhao also introduced Binance Coin, a utility token that offers its owners a number of advantages, such as lower trading costs. [10] Binance introduced Binance Smart Chain, a smart contract platform that competes with Ethereum, in April 2019.

3. Jim Pattison

Richest People In Canada

Jim Pattison is also one of the richest people in Canada. He is an investor, philanthropist, businessman and one of the richest people in Canada in 2022 with an estimated net worth of $12.2 Billion, according to the Forbes Billionaire list.

He is the head of the Jim Pattison Group. This empire operates in some 85 countries spanning an array of industries such as supermarkets, lumber, fisheries, disposable packaging, theme parks, auto dealers and more.

Following his appointment to the Order of Canada (1987) and the Order of British Columbia (1990) as well as his receipt of the Governor General’s Commemorative Medal for Canada’s 125th Anniversary, Pattison was inducted into Canada’s Walk of Fame in December 2018.

In addition, he received the Entrepreneur of the Year – Lifetime Achievement Award (2000), the International Horatio Alger Award (U.S.A., 2004), and the Young Presidents Organization Canadian Icon Award, as well as induction into the Canadian Business Hall of Fame and the Canadian Professional Sales Association Hall of Fame (2007)

He opened a Pontiac dealership in 1961; 25 years later, he was selling more cars than anyone else in Western Canada. He grew his business to include other companies such as Overwaitea Foods, Ripley’s Believe It Or Not!, Save-On-Foods, Guinness World Records and numerous TV and radio stations across British Columbia, Alberta, Saskatchewan and Manitoba.

4. David Cheriton

Richest People In Canada

David Cheriton is a  Professor at the University of Stanford. He is one of the richest people in Canada with an estimated net worth of $9.3 Billion according to Forbes Billionaire Index. He made his fortune thanks to an early $200,000 investment in Google.

Aside from his Google Investment David has also founded several different companies. One of which is Arista Networks, which went public in 2014; Kealia, which was sold to Sun Microsystems in 2004 and  Granite Systems, which was sold to Cisco in 1996.

He is an authority on distributed computing and computer networking, and he has knowledge of how to spot significant market opportunities and develop the architectures required to take advantage of them.

He has co-founded and made investments in a number of Internet firms, including Google, VMware, and Arista, where he served as chief scientist and one of the company’s early angel investors. He has invested in at least 20 businesses.

Aside from being one of the most successful venture capitalists in recent times, Cheriton also has a reputation for a frugal lifestyle, avoiding costly cars or large houses. He was once included in a list of “cheapskate billionaires”

5. Joseph Tsai

Richest People In Canada

Joseph Tsai is the co-founder and executive vice chairman of the Chinese multinational technology company,  Alibaba Group. The Asian-Canadian businessman is the second-largest individual shareholder in the company only behind  Jack Ma. He is fifth among the top 10 richest people in Canada in 2023

Tsai was born in Taipei, Taiwan, to parents Ruby and Paul C. Tsai, two-generation lawyers. Eva, Vivian, and Benjamin are his three younger siblings.

Following the communists’ takeover of Mainland China in 1949 during the Chinese Civil War, the Tsai family fled to Taiwan as part of the Kuomintang exodus.
Tsai was transported to the United States at the age of 13 to enrol at the Lawrenceville School in Lawrenceville, New Jersey, where he played football (inside linebacker) and lacrosse and was a part of Cleve House.

He also owns the Brooklyn Nets of the American National Basketball Association (NBA), the New York Liberty of the Women’s National Basketball Association (WNBA) and the San Diego Seals of the National Lacrosse League.

Tsai was born in Taiwan but is a naturalised citizen of Canada. he started his business journey after he met Jack Ma in 1999. He quit the $700,000-a-year job at Investor AB and offered to join Ma as one of the founding members of Alibaba. He single-handedly established Alibaba’s financial and legal structure, since no other member of the team had any experience in venture capital or law.

6. Anthony Von Mandl

Anthony von Mandl is the founder and chief executive of the Mark Anthony Group, an alcoholic drinks producer and the maker of Mike’s Hard Lemonade. He is one of the richest people in Canada in 2022, with an estimated net worth of $8.4 Billion.

He began his career in the Canadian wine business as an importer in the 1972s at age 22. The wine-importing business later became the Mark Anthony Group.  In 1981, he bought his first winery in the Okanagan Valley, Canada where he began producing wines as well as ciders. He has since then acquired at least six wineries in the region.

According to Bloomberg, the Vancouver-based company distributes wines, spirits and beer and has annual sales of about $4 billion. Anthony is sixth among the top 10 richest people in Canada

7. Mark Scheinberg

Richest People In Canada

Mark Scheinberg is an Israeli-Canadian businessman, investor and billionaire with an estimated net worth of $5.3 Billion. He is the co-founder of the online gambling company PokerStars, the world’s largest online poker business.

Scheinberg founded PokerStars with his father Isai Scheinberg, the company was however acquired by the Canadian publicly listed company, Amaya Gaming Group for $4.9 billion.

Mark used the money to establish Mohari Hospitality, an investment company, developing luxury real estate and leisure destinations worldwide. Mark Scheinberg is also among the richest people in Canada.

Scheinberg resides in the Isle of Man and is unmarried. To combat the immediate effects of COVID-19, he and his family established The Scheinberg Relief Fund in March 2020. It supports organizations and projects in areas where the family has a commercial or personal presence with a $50 million budget.

He has a strong commitment to environmental protection and animal welfare. It was announced in September 2020 that The Scheinberg Relief Fund would double every contribution made to the Wildlife Ranger Challenge, a fundraising initiative for environmental causes that partners with organizations like the Save the Rhino Trust.

8. Alain Bouchard

Alain Bouchard is a Canadian businessman, the founder of Alimentation Corepuche-Tard and one of the richest people in Canada in 2022, with an estimated net worth of $5 Billion, according to Forbes. He began his entrepreneurial career in the 70s as an independent retailer.

The bankruptcy of Alain Bouchard’s father, Jean-Paul, while Alain was a little boy had an impact on him. Alain Bouchard was born in Chicoutimi, Quebec.
In Quebec, the father of Bouchard ran a company that built roads. When his father’s business failed, the family relocated to a mobile house in the Micoua village.

Bouchard founded Alimentation Couche-Tard in 1980 He served as the Chief Executive Officer of the company until 2014 and expanded it from one convenience store to more than 12,500 convenience stores around the world

When he was nineteen, Bouchard worked as a stock boy in the Perrette milk store owned by his brother. In 1969, the proprietor of Perrette engaged Bouchard to search out and establish new stores.
At the age of 24, Bouchard started working for the supermarket chain Provigo and was given the task of putting into practice a novel convenience store concept known as Provi-Soir.

Before starting Alimentation Couche-Tard in 1980, Bouchard worked as a retailer on his own in the late 1970s. From 1980 to 2014, Bouchard served as Alimentation Couche-chief Tard’s executive officer, guiding the business as it grew from one convenience store to more than 12,500 locations worldwide.

He also served on the board of directors of Atrium Innovations and as a board member of Québecor, a Canadian media and telecommunication company, from 1997 to 2009. Alain Bouchard is eighth on our list of the top 10 richest people in Canada.

9. Huang Chulong

Richest People In Canada

Taking ninth place among the richest people in Canada in 2023 with a net worth of $5 Billion is the 62-year-old Chinese entrepreneur, Huang Chulong. He is the Chief executive officer of  Galaxy Holding Group.

Galaxy Holding Group is a parent company covering a slew of Chinese businesses in sectors as varied as finance and investment, real estate development, hotels, shopping centres, property management, and energy.  The company was involved in developing over 538 million square feet of real estate in China.

Chulong also holds 85% of the shares of the Shenzhen Galaxy Commercial Property Investment.

10. Tobi Lutke

Richest People In Canada

Tobi Lutke with an estimated net worth of  $5 Billion, concludes the list of the top 10 richest people in Canada in 2022. The 42-year-old entrepreneur is the founder of CEO of Shopify, an e-commerce company based in Canada.

Lutke began his entrepreneurial journey by co-founding  Snowdevil, an online snowboard shop in 2004 with his partners, Daniel Weinand and Scott Lake.  Soon they shifted their focus from snowboards to e-commerce and launched Shopify in 2006.

Shopify is presently used by more than 500,000 merchants to sell their goods and services online.  Tobi presently owns 7% of the company, which went public in 2015.

Top 10 Richest People In Canada

Here is a list of the names and net worth of the top 10 richest people in Canada in 2023.

1. David Thomson – $52.2 Billion
2. Changpeng Zhao- $17.8 Billion
3. Jim Pattison – $12.2 Billion
4. David Cheriton – $10.9 Billion
5. Joseph Tsai – $8.4 Billion
6. Anthony von Mandl – $8.4 Billion
7. Mark Scheinberg – $5.3 Billion
8. Alain Bouchard – $5 Billion
9. Huang Chulong – $5 Billion
10.  Tobi Lutke – $5 Billion

Conclusion

Canada due to its economic and political stability has been home to a lot of immigrants in recent times, making it the eighth-largest immigrant population in the world. As earlier stated it is one of the top 10 billionaire-producing countries. Here is a recap of the top 10 richest people in Canada in 2020.

For our Richest list, we made the decision to focus on just two sources: Forbes and Bloomberg. Some billionaires simply keep their wealth very quiet. The richest people in Canada are listed above, along with a description of how they became wealthy. We, however, hope you enjoy reading about the top 10 richest people in Canada in 2023