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Top 20 Richest People in Canada

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Introduction to the Top Richest people in Canada

Who are the top richest people in Canada?

Canada is a developed country that is located in the continent of North America.

They share a boundary with the United States of America and are known to have a large range of jobs for every skill, talent and profession.

It is indeed a thriving economy with several job openings and as a result, the country has rich people who through their entrepreneurial skill, have taken advantage of its business-friendly economy.

COVID-19 Period

In 2020, the world was affected by the COVID-19 pandemic and Canada was no exception.

A lot of Canadians lost their businesses and suffered financial impairment.

However, as the virus has been successfully contained, the economy of Canada returned and business started flowing once again.

Analysis

From the review of the top richest people in Canada, each one of them has added dividends of $2 billion to their equivalent net worth.

This sum up to a total of $37 billion, which all happened during the economically tragic period of the Covid-19 period.

The likes of Thomson family fortune, Shopify’s Tobi Lutke, Lululemon and co, enjoys the most returns in profit and have all took a huge step in cementing their spot.

The Covid Recovery

In the general view, employees and labourers continue to smoothly recover from the economic break down initiated by the virus.

Statistics indicate that 1.1 million people (less than the original amount) were displaced in the job market during the pandemic period.

Up to 1 million had technical employment but this came with a sacrifice. About half of them lost their hourly-paid jobs and this affected their respective family income.

Low earners suffered the most, including women and this has raised the inequality of wealth distribution in the Country.

Nature Of Market

In Canada, the paramount thing in driving growth to the economy is foreign direct investment (FDI).

This is very vital to Canada’s business segments and units as it boosts labour and productivity.

FDI grows and liberate the country’s economy through creating employment, encourage investment, bolsters the supply network, fosters social development and establish strong support for local services.

This applies to both the urban and the remote areas of the economy.

Top 20 Richest People in Canada: Who Tops the List?

David Thomson is a top Canadian business mogul who knows his way around the country’s economy.

The British-Canadian entrepreneur is the chairman of Thomson Reuters.

He acquired the wealth from his father who died in 2016 and more so, his family is into the media and publishing business which all adds up.

David Thomson has an estimated net worth of $10.2 billion, more than any other Canadian businessperson.

Second Spot

Following David Thomson is Jospeh Tsai.

He is the vice-chairman of Alibaba Group, a very successful online business.

Aside from earning through Chinese e-commerce, the business mogul also owns about 48% of the Brooklyn Nets NBA team.

Tsai has an estimated net worth of $10.2 billion, making him one of the top richest people in Canada.

Third Spot

Completing the “top three” richest person in Canada is Galen Weston.

The British-Canadian investor and entrepreneur is the chairman of George Weston.

This is a very popular food company in the country. The process and distribute food to every part of the country.

Since the company acquired full custody of Loblaw Companies Limited, other business ventures have been acquired including the latest takeover of Shoppers Drug Mart.
He has earned an estimated net worth of approximately $9 billion.

Others On The List Of Top Richest People In Canada

They are other Canadian businessmen that made the list. This includes the likes of David Cheriton, James Irving, Jim Pattison,
Huang Chalong and so on.

Listed below is the tabulated list of the top 20 richest people in Canada:

S/NPeopleNet Worth
1.David Thomson$39 billion
2.Joseph Tsai$10.2 billion
3.Galen Weston$9 billion
4.David Cheriton$6.4 billion
5.James Irving$6.3 billion
6.Jim Pattison$5.7 billion
7.Huang Chulong$5.6 billion
8.Emanuele (Lino) Saputo$5.6 billion
9.Chip Wilson$4.6 billion
10.Mark Scheinberg$4.5 billion
11.Alain Bouchard$4.1 billion
12.Peter Gilgan$4 billion
13.Arthur Irving$3.5 billion
14.Daryl Katz$3.1 billion
15.Bob Gaglardi$3 billion
16.Tobi Lutke$2.9 billion
17.Garrett Camp$2.7 billion
18.Robert Miller$2.7 billion
19.Mitchell Goldhar$2.7 billion
20.Lawrence Stroll$2.6 billion

Conclusion Of Top Richest People in Canada

That was all on the top richest people in Canada.

The country is one of the most sought destination for businessmen – and bolstering innovative ideas is what Canada prides itself in.

All of the top richest men in Canada are mere benefactors of the pleasant business economy.

With a literacy rate of 99%, the North American country has set a pace and has an upper hand in global entrepreneurial development.

Do you think Canada will experience a slack on investment in years to come?

Let’s hear from you.

Princewill Ubaha is an electrical engineer by profession, a content writer by perspiration, and an Akwa Ibomite by birth. He always believed that the habit of persistence is the habit of victory.

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