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The New Top 5 Richest People in Canada.

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The New Top 5 Richest People in the Canada.

Canada is one of the most expensive countries, so it might come as no surprise that it’s home to some of the world’s mega-rich. Of the 2,755 wealthiest people on the Forbes 2021 list, 64 of them are Canadian citizens. Many of these elite figures belong to famously wealthy Canadian families who have run multinational companies for generations.

Canada is the world’s ninth-largest economy as of 2021, with a nominal GDP of approximately US$2.015 trillion. It is one of the least corrupt countries in the world, and is one of the world’s top ten trading nations, with a highly globalized economy. Canada has a mixed economy ranking above the U.S. and most western European nations on The Heritage Foundation’s Index of Economic Freedom, and experiencing a relatively low level of income disparity. The country’s average household disposable income per capita is “well above” the OECD average. The Toronto Stock Exchange is the ninth-largest stock exchange in the world by market capitalization, listing over 1,500 companies with a combined market capitalization of over US$2 trillion.

Since the beginning of time, this great nation has been able to catapult into being the greatest in the industries that make a country grow. Impeccable individuals from Canada have created corporations, industries, franchises, and have undertaken humanitarian purposes to capture the minds of the world.

In today’s article, we will take a look at the top 5 richest people in Canada that have created their wealth through creating employment and rising above the challenges to be who they are now.

Without wasting much time let’s dive in.

Rank Name of PersonalityEstimated Net Worth
#1David Thomson and family$39.5 billion
#2Joseph Tsai$13.8 billion
#3Tobi Lutke$9.0 billion
#4Galen Weston and family$8.3 billion
#5David Cheriton$6.8 billion

With an estimated net worth of $39.5 billion, David Thomson, chairman of media and publishing group Thomson Reuters Corp., is the wealthiest person in Canada, that’s according to CEOWORLD magazine’s Canada Rich List Index For 2020. The CEOWORLD magazine Quarterly Rich List 2020 has revealed Canada’s wealthiest people. The combined wealth of the top 46 Canadian Billionaires hit a new record high of $185.2 billion. The British-Canadian magnate became the wealthiest man in the country after the death of his father in 2006, when he became chairman of Thomson Corporation. David Thomson and the Thomson family-run Thomson Reuters Corp, a media and publishing conglomerate established by Thomson’s grandfather Roy Thomson. Today, David Thomson works as the chairman of the company.

The number two spot for Canada was occupied by Joseph Tsai, Alibaba Group Holding Ltd. Vice Chairman and Co-Founder, worth $13.8 billion. Joseph Chung-Hsin Tsai owns the Brooklyn Nets of the National Basketball Association (NBA). Tsai is Alibaba’s second-largest individual shareholder after Jack Ma, with a 1.7% stake that accounts for the majority of his fortune. Tsai joined Alibaba in 1999 as its first chief financial officer. Tsai, who is also a Canadian citizen, has served as Alibaba’s chief operating officer and a founding board member.

According to the financial publication’s annual listing, 2020 saw the total wealth of the top 5 richest Canadian hit a new record high of $77.4 billion. Tobi Lutke is the third richest person in the country; his net worth stands at $9 billion. Galen Weston and David Cheriton rounded up the top five wealthiest people in Canada with $8.3 billion and $6.8 billion, respectively. To identify the wealthiest people in Canada, CEOWORLD magazine reviewed numerous national and international media reports, and all estimated net worth figures are in U.S. dollars.

You can also read more about the top richest people in Canada at ceoworld. You can also check out our list for the top 10 richest people in Kenya also here: georgeweb.org

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