Canada's 100 Richest People for 2014
Canadian Business has released its list of the 100 richest Canadians, led by the Thomson Family (Thomson-Reuters) and Galen Watson (who owns Loblaws) and three British Columbians in the Top 25: the Lalji Family, Chip Wilson, and Jim Pattison.
The Lalji Family, which owns Larco Investments Ltd., clocked in with $2.56 billion. Lululemon founder Chip Wilson – who has come under fire recently for his mouth, not his pockets – is B.C.'s second-richest man with a value of $3.73 billion. And James Pattison, an individual owner of several groups and companies, ranked first in the province, worth $7.39 billion.
Pattison's holdings include Overwaitea supermarkets, Ocean Brands seafood, and the Jim Pattison Broadcast Group.
The magazine said Canada's super rich only got super richer, increasing their worth on average by 15 per cent.
"Collectively, the individuals on the Rich 100 are worth $230 billion, more than the total gross domestic product of many countries in the world, including New Zealand, Ireland and Portugal," wrote CB's staff. "And this year has been one of their best ever. Their combined net worth surged by more than 15 per cent, the biggest increase since 2000."
Since Canadian Business started its rankings in 1999, the wealth of the 100th richest person in Canada has risen from $309.6 million to $728 million.
Not everyone leaves 2013 unscathed, however, as mining magnates tumbled.
"Anyone tied to mining, which is undergoing a global rout, suffered badly, however," reports the magazine. "Gold bug Eric Sprott was dealt a huge blow, falling 17 per cent (more than $200 million). Silver-tongued mining promoter Robert Friedland dropped 14 per cent ($42 million). Rob McEwen's mining company is struggling so badly he tumbled off the Rich List entirely."
Also in B.C.'s top five are Burnaby's Brandt C. Louie (owner of H.Y. Louie Co.) and Vancouver's Bob Gaglardi (Northland Properties).
As for the richest of the richest, the Toronto-based Rogers Family weighed in with $7.6 billion, built off their Rogers Communications empire. Galen Weston (whose domains include Loblaws supermarkets and Holt Renfrew) is worth $10.4 billion.
The Thomson Family placed first in Canada – by a large distance – with $26.1 billion.