There are countless ways to gauge wealth. The Rogers family and Lawrence (Larry) Tanenbaum, two billionaires who were not included on the list, are among the richest Canadians. How did that come about? For our Richest list, Some billionaires simply keep their wealth very quiet.
The richest persons in Canada are listed below, along with a description of how they became wealthy.
- Kuldip Rai Sahi
Net worth: $1.38 billion
Our list of the wealthiest people begins with Kuldip Rai Sahi, Chairman and CEO of Morguard Corporation (MRC: TSE). Real estate firm Morguard owns or oversees assets in both the US and Canada. In 1971, Kuldip Rai Sahi arrived in Canada through Montreal. After earning his certification as a general accountant, he worked as a loan officer for commercial properties. He purchased and sold enterprises starting in 1981. Sahi acquired stock in Goldlist as well as other real estate firms in 1997. Eventually, he acquired some of Morguard’s Real Estate Investment Trust as well as its properties (REIT). Sahi also acquired TWC Enterprises, which is currently in charge of a network of golf facilities in the US and Canada. Sahi is worth $1.38 billion ($1.1 billion USD).
- Michelle Zatlyn
Net worth: $1.38 billion
Michelle Zatlyn, president and chief operating officer of Cloudfare, is among the wealthiest people in Canada. She has 5% ownership in the business she co-founded in 2009. The business offers website security services in a sector that has experienced recent growth. Her initial business was not Cloudfare. She established Achievers in Toronto after working briefly at Toshiba. Cloudfare went public in 2019, and as of this writing, it had a $40.92 billion US market valuation. Her estimated net worth is $1.38 billion Canadian ($1.1 billion US).
- Anton Rabie
Net worth: $1.51 billion
Only with $10,000 of their own funds, Anton Rabie and his 2 buddies founded Spin Master. With locations in significant cities across Europe, Asia, and North America, that business is currently among the greatest toy and entertainment firms.
They developed the PAW Patrol brand, Hatchimals, and the 2007 global phenomenon Bakugan. They did more than just create new things, though. In licensing agreements, they also made investments. The business today operates internationally in the toy, game, entertainment, and digital entertainment industries. In 2015, the business listed on the Toronto Stock Exchange (TOY: TSE). Rabie works as a director at Spin Master right now. His estimated fortune is $1.51 billion ($1.2 billion USD).
- Guy Laliberté
Net worth: $1.51 billion
The only millionaire Canadian who makes his living as a space tourist. Guy Laliberté is undoubtedly unique. He is a founding member of the massive Cirque du Soleil entertainment conglomerate. Together with Gilles Ste-Croix, Laliberté founds Cirque du Soleil in 1984.
Laliberté sold his firm stock, but that doesn’t mean he hasn’t continued to move forward. He has established himself as a dominant force in the poker world and has also acquired his private island in French Polynesia. Along with all of that, he founded just One Drop Foundation to promote access to clean water globally and became the first Canadian to travel to space. He is worth $1.51 billion Canadian ($1.2 billion US).
- Michael McCain
Net worth: $1.38 billion
Michael McCain comes from one of the wealthiest families in Canada. He is a member of the McCain family of frozen foods. Michael McCain now holds the positions of President and CEO of Maple Leaf Foods, a company wherein McCain Capital Corporation and the Ontario Teachers’ Pension Plan Board own controlling interests, as well as a director of both Maple Leaf Foods and McCain Capital Corporation. He graduated from the of Western Ontario with a degree in business administration with honors. Michael McCain has a net worth of $1.38 billion ($1.1 billion USD).
- Ronnen Harary
Net worth: $1.38 billion
Together with two friends, Ronnen Harari co-founded Spin Master in 1994. Earth Buddy, Devil Sticks, and Air Hogs were introduced by the company, and it also inked license agreements with the Wiggles. Later, in 2007, they produced Bakugan, the global craze in toys and entertainment.
Harary also contributed to the development of PAW Patrol. As of late, digital entertainment, animation, and toys have all been a part of Harary’s SpinMaster. It bought Cardinal Industries, the well-known Etch-A-Sketch, and Marbles. In 2015, the business listed on the Toronto Stock Exchange (TOY: TSE). Harary is currently a corporate director, He is worth $1.38 billion ($1.1 billion USD).
- Stewart Butterfield
Net worth: $1.76 billion
The term “slacker” was redefined by one of the wealthiest Canadians. You may thank Stewart Butterfield if you’ve ever used the communications program Slack. He helped co-found the business in 2009. Slack began as auxiliary software for Glitch, a video game that Butterfield was creating. Butterfield began to concentrate only on the messaging software after seeing its potential. He invested years in expanding the business, and in June 2019, he successfully guided it to a straight list on the New York Stock Exchange. Butterfield not only developed Slack but also Flickr, which he sold to Yahoo for roughly $20 million. Slack’s CEO, Butterfield, is still in place. Butterfield is worth $1.76 billion US ($1.4 billion CAN).
- Richard Fortin
Net worth: $1.89 billion
One of the original shareholders in the Couche-Tard, now known as Alimentation Couche-Tard, chain of convenience stores is Richard Fortin. Finance-trained Fortin served as president of the investment company Société Générale S.A. in Quebec.
Business savvy of Richard Fortin is well-known. He has served on the boards of both the National Bank of Canada and the sizable media company Transcontinental. Fortin founded the Lise et Richard Fortin Foundation, which donates funds to a range of causes, including those that help the elderly and children. He is worth $1.89 billion Canadian ($1.5 billion US).
- John Phillips
Net worth: $1.89 billion CAN
One of the wealthiest Canadians and a seasoned corporate lawyer, John Phillips. He made an early investment in Shopify, purchasing a 1.5% interest (SHOP: TSE). Phillips was an executive of Clearnet as well, and he benefited from the $6.6 billion sale of the business to Telus. He is the CEO of Klister Credit Corporation, an angel investor, and a member of the Shopify board of directors. John Phillips has a net worth of $1.89 billion Canadian ($1.5 billion US).
- Catherine Phillips
Net worth: $1.89 billion
She isn’t your typical billionaire, though. Psychotherapist Catherine Phillips has a focus on working with cancer patients. Dr. Phillips invested in Shopify early on. 1.5% of the company is hers. Calm Your Mind, Warm Your Heart is a book by Catherine Phillips that was created to support cancer patients. In order to help cancer patients and their families, she also plans support networks and works with the Healing Journey program. Dr. Catherine Phillips has a net worth of $1.89 billion Canadian ($1.5 billion US).
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