Elon Musk, the founder of Tesla and SpaceX, is currently ranked first in the world, with a stunning net worth of $219 billion. He places higher than incredibly affluent people like Warren Buffett, Bill Gates, the co-founder of Microsoft, and Jeff Bezos, the founder of Amazon.
As one of the nations world-renowned for political and economic stability in Canada, the nation has a history of creating billionaires. In 2022, Canada generated 67 billionaires, making it the eighth-highest billionaire nation worldwide.
It's no secret that a large portion of the population makes five or six figures yearly in our materialistic society. In reality, recent years have seen some of the largest-ever personal wealth transfers.
Some of Canada's wealthiest people inherited their wealth, while others launched their businesses less than ten years ago. So who are Canada's wealthiest persons? Here are the 10 richest people in Canada in 2022.
10. Huang Chulong Net Worth - $4.4 Billion
The 63-year-old Chinese businessman Huang Chulong has a 4.4 B net worth, ranking tenth among Canada's wealthiest individuals. He oversees the Galaxy Holding Group as its CEO. According to CEO World Biz, the Galaxy Group is a company with its headquarters in Shenzhen, a city in Southern China.
It is also a parent corporation of numerous Chinese companies in industries as diverse as hotels, shopping malls, office leasing, property management, and real estate and energy development. This corporation is responsible for more than 538 million square feet of property investment. Chalong is also an 85% share owner of Shenzhen Galaxy Commercial Property Investment.
What you did not know about Huang Chulong
One of the top 1000 wealthiest persons in the world is Huang Chulong. It is commendable how the Galaxy Group has been successful for almost 32 years under Huang Chulong, and it doesn't appear that things will soon slow down. As a citizen of Canada, Huang Chalong is a self-made billionaire who inspires many to work on their success profusely.
9. Mark Scheinberg Net Worth - $5.3 Billion
March Scheinberg, well-known for making a fortune through online poker, has earned a spot among Canada's top 10 billionaires. Born in 1973, Mark Scheinberg is an Israeli-Canadian entrepreneur and investor with holdings in several industries like upscale hospitality and real estate. Scheinberg, born in Israel, relocated to Toronto as a teenager.
According to Hard Bacon, he was born in Canada but currently resides in the United Kingdom. Mark attended Fanshawe College in London, Ontario. Still, after one semester, he decided to drop out and spend his 20s traveling and working in Mexican resorts due to his interest in hospitality and travel. As a result, he has a net worth of 5.3 billion.
Here is how Mark got rich
In the early 2000s, he and his father co-founded the world's largest online poker enterprise, PokerStars, an online poker cardroom. After the sale of the company in August 2014, he went ahead to purchase a historic hotel in Spain, a marvelous yacht collection, and an opulent resort in Costa Rica. The Ritz-Carlton, a Yacht Collection, is a purchase he bought in 2018 that contributed to his net worth. Mark stands at 574th richest person in the world.
8. Chip Wilson Net Worth - $5.5 Billion
The journey to Chip Wilson's success started in Vancouver in 2000 when he opened Lululemon's first location. As a self-made billionaire, he has different investments in specific peculiar fields of expertise. Lululemon was founded by Dennis "Chip" Wilson, who also served as its former CEO. He went public with the athleisure company in 2007, but in 2013 he gave up his chairmanship and left the company entirely in 2015. Although this was the case, he is still the company's largest individual shareholder with an 8% interest. Hold It All is a holding firm run by Wilson, his wife, and their five kids that makes investments in private equity, real estate, and clothing. He holds shares of Amer Sports, which owns brands such as Salomon, Arc'teryx, and Wilson, and the Chinese apparel manufacturer Anta Sports.
What donation Chip Wilson made for rare genetic disorder cure finding
Wilson, 66, is launching a business named "Solve FSHD," where he is investing $100 million to aid in the discovery of treatment by the finalization of 2027. Unfortunately, this is an investment too close to home as Wilson was diagnosed with Facioscapulohumeral muscular dystrophy, which causes weakness in the upper arms, face, and the area between the shoulder blades. All this happened when he was 32, and several years back, prior to falling in the airport when coming from China, he knew something was wrong.
7. Alain Bouchard Net Worth - $5.6 Billion
1949 saw the birth of Alain Bouchard in Chicoutimi, Quebec. In the 1950s, Bouchard's father took advantage of the chance and was awarded a contract to cut the trails through the forests of Quebec.
His father obtained hefty new equipment to accomplish the work. But unfortunately, the person with whom he had an arrangement filed for bankruptcy, and his father followed suit. With just one store in Quebec, Alain Bouchard co-founded the multinational chain of convenience stores Alimentation Couche-Tard in 1980.
Bouchard continues to serve as executive chairman of the $54 billion (sales) business, which has over 14000 franchised and owned locations across the globe. In September 2014, Bouchard, who built the company quickly by acquiring rivals, stepped down from his position as president and CEO.
In 2017, Couche-Tard purchased The CST Brands, which are based in Texas, for 4.4 B, and the debt, the Holiday Stationstores, which are found in Minnesota, for 1.6 billion. This billionaire is now worth 5.6 Billion.
What did Alain Bouchard do before leaving Provi-Soir?
After a year, Bouchard was hired as an organizer of new Perrette stores after assisting his brother in operating a franchise grocery store called Perrette. A few years later, he was promoted to director, and after helping open 100 of Perrettes' 184 stores, he decided to leave the company because he did not like how it handled its employees.
Instead, he joined Provi-Soir at this time and took on the head of construction, real estate, and development. Later, using the proceeds from his private real estate ventures, he bought two Provi-Soir franchises. He was moral and considerate enough to provide two of his replacements with 18 months of training before he left Provi-Soir.
6. Joseph Tsai Net Worth - $8.2 Billion
Despite being a Canadian citizen by naturalization, Tsai was born in Taiwan in 1949. According to RNG, Joseph Tsai has a net worth of 8.2 billion and is the 147th richest person in the world. Today he serves as vice chairman of the Chinese e-commerce behemoth Alibaba Group.
After meeting Jack Ma in 1999, he began his entrepreneurial journey. As an investor at AB, he resigned from this position that paid him $ 700,000 yearly to focus on being a co-founder of Alibaba with Jack Ma.
Considering that none of the other team members had any background in venture funding or law, he was responsible for creating Alibaba's entire financial and organizational structure.
He also owns the San Diego Seals of the National Lacrosse League, the New York Liberty of the Women's National Basketball Association, and the Brooklyn Nets of the American National Basketball Association (NBA).
What is the current Tsai resident?
Tsai resides in Hong Kong even though he is a Taiwan-born individual. Although he lives in Hong Kong, he currently possesses a Canadian passport.
5. Anthony Von Mandl Net Worth $9.3 Billion
With 9.3 billion in net worth, Anthony Von Mandl has done well for himself. Having founded White Claw Hard Seltzer and Mike's Hard Lemonade, this Canadian billionaire became a prominent figure in Canada's alcohol importation and distribution sector.
Anthony von Mandl is to blame if you are attached to White Claw as your number one beverage.
Here is the career journey of Anthony Von Mandl
At 22, he started working as an importer in the Canadian winemaking industry in the 1970s. Later, the wine-importing company evolved into the Mark Anthony Group. He acquired his initial winery in the Okanagan Valley of Canada in 1981 and started making wines and ciders there. Since then, he has purchased at least six wineries in the area.
4. David Cheriton Net Worth - $9.3 Billion
When Google was still in its infancy, Cheriton and Andreas von Bechtolsheim; each contributed $100,000. According to Review Moose, this is how David Cheriton amassed wealth in Google, and he is a professor at Stanford University.
Cheriton and Andress Von Bechtolsheim co-founded the trio of Kelia, Granite Systems, and Arista Networks in 2014. Cheriton left Arista's leadership in March 2014 and has since sold off his shares, while he still holds nearly 10% of the company in the form of a trust for his kids. After Juniper Networks acquired Apstra in 2021, Cheriton was promoted to chief data center scientist. Today, Cheriton stands at 9.3 billion dollars in net worth.
Why Cheriton is described as frugal
Despite steadily becoming wealthier during this time, he appears to have remained in the same residence for 30 years in his personal life. Most people, upon getting rich, change their lifestyle completely, leaving behind their old lives. It is pretty impressive how Cheriton has managed this. Due to this lifestyle, he leads a list of "cheapskate millionaires" once included him.
3. Jim Pattison Net Worth - $11.5 Billion
Jim Pattison is an 11.5 billion net worth, and most know him as the sole proprietor of the Jim Pattison Group. According to Curiocity, Jim Pattison is a philanthropist, investor, and businessman and the leader of the Jim Pattison vast organization with operations in around eighty-five countries. Despite being in his 90s, he still reports for work each day without slowing down. n 1961, he started a Pontiac business; twenty-five years later, he became Western Canada's top automobile seller. In addition to Overwaitea Foods, Ripley's Believe It Or Not!, Save-On-Foods, Guinness World Records, and various TV and radio stations throughout British Columbia, Alberta, Saskatchewan, and Manitoba, he expanded his company to encompass these entities.
And where else does Jim Pattison accumulate his wealth from? Here is the answer.
The multibillionaire from Vancouver is in charge of companies in various sectors, including food, packaging, and entertainment. With these dealerships, Jim Pattison has managed to get in enough profits that contribute to the billionaire's massive riches.
2. Changpeng Zhao Net Worth - $17.4 Billion
Changpeng Zhao, the founder, and CEO of Binance, the biggest cryptocurrency exchange in the world, was born in China and spent a lot of time there before moving to Dubai. Also known as Cz, Zhao is a self-made billionaire who worked overnight stints at a gas station and flipped hamburgers at McDonald's as a kid living in Vancouver to support his family.
Later, he "built high-frequency trading algorithms to Wall Street's flash Boys honing his trading and financing acumen. According to Archive Canadian Business, his business conducted trades that totaled about $10 trillion in 2021. It is incredible the progress that Zhao has made when it comes to expanding his businesses. CZ climbed 19 places in 2022 from 1,664th last year on Forbes' list of the world's billionaires, with a net worth of 17.4 Billion in 2022.
Who exactly is Changpeng Zhao? You are about to find out.
Changpeng Zhao is a China-born Canadian citizen who attended McGill University to study computer science before founding Binance. After graduating from college, he worked at Bloomberg as a developer. He afterward joined Fusion Systems as a partner. He was appointed as Head of Development when at Blockchain in 2013. Chanpeng Zhao founded the exchange systems vendor Bijie Tech in 2015. After this, he built his well-known company Binance Holdings Inc. in 2017.
1. David Thomson Net Worth - $51 Billion
With a net worth of 51 Billion, David Thomson makes this list the second richest person in Canada. Roy Thomson, the creator of Thomson Corporation, is the grandfather of David Thomson.
In addition to taking on his father's British title of Baron Thomson of Fleet, he rose to the position of chairman of Thomson Corporation. In Toronto, Thomson began his professional career as a subordinate associate with McLeod Young Weir. He left the company to join the family business and had several jobs in businesses owned by the Thomson family.
Is David Thomson successful due to his family? Here is the answer
David is a billionaire-backed up by family money as the A media and publishing enterprise run by David Thompson together with his family was started by his grandpa Roy Thomson.
When David is the point of attention, his family name is always dragged into his business. His family is also the owner of the Globe and Mail Newspaper in Toronto and a shareholding in telecom giant bell in Canada.
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Written by Allen Lee
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