Top 20 Millionaires In Canada

The Canadian economic landscape in late 2025 reflects a sophisticated mix of legacy industrial power and a rapidly expanding digital frontier. While traditional sectors like media, retail, and natural resources remain strong, the rise of cryptocurrency and e-commerce has introduced a new breed of billionaires to the national rankings. This shift illustrates Canada’s adaptability in a global market increasingly defined by technological disruption and decentralized finance.
Understanding the fortunes of Canada’s wealthiest individuals provides a window into the nation’s broader financial health. From Toronto’s real estate moguls to Vancouver’s tech entrepreneurs, these leaders manage vast empires that employ hundreds of thousands and influence global trade. The following report details the top twenty billionaires in Canada, examining their business origins, current financial status, and the industries they lead.

1. David Thomson & family

Media & publishing (Thomson Reuters)

David Thomson and his family maintain their position as the wealthiest dynasty in Canada with an estimated net worth of $73.7 billion. As the chairman of Thomson Reuters, David Thomson oversees one of the world’s most influential news and information services providers. The family’s wealth is managed primarily through Woodbridge, a private holding company that owns a controlling stake in the global media giant.

The Thomson empire began with Roy Thomson, who purchased his first newspaper in Ontario during the 1930s. Over generations, the family transitioned from print media into high-value data and professional information services. Beyond media, the family holds significant stakes in telecom leader Bell Canada and various real estate assets. David Thomson is also known for his extensive art collection, which is considered one of the most valuable private collections in the world. Their enduring wealth is a testament to disciplined family stewardship and the strategic evolution of their core business assets.

2. Changpeng "CZ" Zhao

Founder of Binance

Changpeng Zhao, widely known as “CZ”, has become a central figure in the global financial shift toward digital assets. With a net worth estimated at $60.7 billion in late 2025, he represents the explosive growth of the cryptocurrency sector. Zhao founded Binance in 2017, and it quickly ascended to become the world’s largest cryptocurrency exchange by trading volume.

Born in China and moving to Canada as a teenager, Zhao’s background in computer science and high-frequency trading allowed him to build a platform that could handle massive transaction speeds. Despite navigating a complex global regulatory environment, Binance remains a dominant force in the crypto ecosystem. Zhao’s wealth is largely tied to his equity in the company and his personal holdings in various digital tokens. His rise to the top tiers of Canadian wealth marks a significant moment in the country’s financial history, as a “new money” tech fortune rivals legacy industrial empires.

3. David Cheriton

Stanford Professor and Google Investor

David Cheriton, often referred to as the “Professor Billionaire,” holds a fortune of $14.3 billion. Unlike many on this list who built massive corporations from the ground up, Cheriton’s wealth largely stems from a legendary early investment. In 1998, as a computer science professor at Stanford University, he wrote a $100,000 cheque to two students named Larry Page and Sergey Brin to help start Google.

Beyond his initial Google stake, Cheriton co-founded several successful technology companies, including Arista Networks and Granite Systems. He is known for a remarkably frugal lifestyle, famously living in the same home for decades and driving older vehicles despite his immense wealth. Cheriton continues to be a prominent figure in academic and venture capital circles, focusing on high-performance networking and distributed systems. His fortune serves as a powerful example of how academic research and early-stage venture capital can generate world-class wealth.

4. Joseph Tsai

Co-founder of Alibaba and Owner of the Brooklyn Nets

Joseph Tsai is a pivotal figure in the intersection of global e-commerce and professional sports, with a net worth of $11.7 billion. He is a co-founder of Alibaba Group, where he served as the architect of the company’s financial and legal structures during its meteoric rise. Tsai’s role was instrumental in transforming Alibaba from a small startup into a global retail and technology behemoth.

In recent years, Tsai has shifted much of his focus toward sports and entertainment. He is the sole owner of the Brooklyn Nets (NBA) and the New York Liberty (WNBA), as well as the Barclays Centre in New York. His investments in the sports world have appreciated significantly, reflecting the soaring valuations of professional sports franchises. Tsai, who holds Canadian citizenship and practiced law in New York before joining Alibaba, represents the global nature of modern Canadian wealth. He remains a key bridge between the North American and Asian business landscapes.

5. Jim Pattison

Diversified holdings via the Jim Pattison Group

Jim Pattison is one of Canada’s most celebrated business magnates, with a net worth of $11.4 billion. He is the founder and sole owner of the Jim Pattison Group, the second-largest privately held company in Canada. His empire is incredibly diverse, encompassing automotive dealerships, grocery chains (Save-On-Foods), outdoor advertising, and entertainment franchises like Ripley’s Believe It or Not! and Guinness World Records.

Pattison began his career as a used-car salesman in Vancouver and famously built his business through aggressive acquisitions and a tireless work ethic. Even into his 90s, he remains active in the day-to-day operations of his conglomerate. The Jim Pattison Group employs nearly 50,000 people and generates billions in annual revenue. Pattison is also a noted philanthropist, having donated hundreds of millions to hospitals and healthcare initiatives in British Columbia. His career is a classic example of “main street” entrepreneurship scaled to a global level through strategic diversification.

6. Tobi Lütke

Co-founder and CEO of Shopify

Tobi Lütke, with a net worth of $9.0 billion, is the visionary behind Shopify, the e-commerce platform that powers millions of businesses worldwide. Originally from Germany, Lütke moved to Ottawa and co-founded Shopify in 2004 after trying to open an online snowboard shop and finding existing software inadequate. He wrote the original code for the platform himself using the Ruby on Rails framework.

Under his leadership, Shopify has become one of Canada’s most valuable companies, often competing with the big banks for the top spot on the TSX. The company’s growth exploded during the digital transformation of the early 2020s as retail shifted online. Lütke is known for his “anti-office” stance and his focus on long-term engineering excellence rather than short-term stock performance. His wealth is primarily tied to his significant equity stake in Shopify. He remains a leading voice in the Canadian tech ecosystem, advocating for innovation and high-growth entrepreneurship.

7. Chip Wilson

Founder of Lululemon

Chip Wilson, the founder of Lululemon Athletica, holds a fortune of $7.0 billion. He is widely credited with inventing the “athleisure” category, transforming yoga wear from a niche product into a global fashion phenomenon. Although he stepped down from the company’s board several years ago, he remains its largest individual shareholder.

Wilson’s business philosophy is deeply influenced by his background in technical apparel and his interest in lifestyle branding. Beyond Lululemon, he has invested in various other retail and sports brands, including a significant stake in Amer Sports, the parent company of Arc’teryx and Salomon. Based in Vancouver, Wilson is also active in real estate and philanthropy through his family office, House of Wilson. Despite occasional public controversies, his impact on the global retail landscape and the Vancouver business community remains undeniable. His wealth reflects the enduring value of strong, lifestyle-oriented consumer brands.

8. Alain Bouchard

Co-founder of Alimentation Couche-Tard

Alain Bouchard is the mastermind behind Alimentation Couche-Tard, one of the world’s largest convenience store operators, with a net worth of $6.4 billion. Bouchard co-founded the company with a single store in Quebec in 1980 and grew it through a relentless series of acquisitions. Today, the company operates thousands of locations globally under brands like Circle K and Ingo.

Bouchard’s strategy has always been focused on operational efficiency and a deep understanding of consumer habits. By acquiring struggling chains and implementing superior management systems, he turned Couche-Tard into a global powerhouse. Even after stepping down as CEO, he remains the chairman of the board and a major shareholder. His success is a prime example of Quebec’s “Quiet Revolution” generation of entrepreneurs who built international empires from local roots. Bouchard continues to explore new growth opportunities, including potential entries into the electric vehicle charging and cannabis retail markets.

9. Ling Tang

Marketing software (AppLovin)

Ling Tang is a relatively quiet but highly successful figure in the technology and mobile gaming sectors, with a net worth of $6.0 billion. Her wealth is primarily derived from her significant stake in AppLovin, a leading marketing software company that helps mobile app developers grow and monetize their businesses. AppLovin has seen its valuation soar as the mobile app economy continues to expand globally.

While Tang maintains a low public profile, her financial influence is considerable. AppLovin’s platform is used by thousands of developers to reach billions of users, making it a critical piece of infrastructure in the digital advertising world. As the demand for data-driven marketing tools increases, Tang’s investment in the sector has proven to be incredibly lucrative. Her position on this list highlights the growing importance of “software-as-a-service” (SaaS) and digital ad-tech in the creation of modern Canadian fortunes.

10. Stephen Smith

Financial services and mortgage insurance

Stephen Smith is a titan of the Canadian financial services industry, holding a fortune of $5.8 billion. He is the co-founder, chairman, and CEO of First National Financial, Canada’s largest non-bank mortgage lender. Smith played a pioneering role in the development of the Canadian mortgage market, particularly in the use of mortgage-backed securities to fund residential and commercial loans.

In addition to First National, Smith owns a significant stake in Canada Guaranty Mortgage Insurance Company and Fairstone Financial. His deep understanding of credit markets and risk management has allowed him to build a resilient financial empire. Smith is also a major philanthropist; in 2015, he made a historic $50 million donation to the business school at Queen’s University, which was subsequently renamed the Smith School of Business. His wealth is a reflection of the stability and profitability of Canada’s housing and financial sectors over the past several decades.

11. Bruce Flatt

CEO of Brookfield Asset Management

Bruce Flatt, often called “Canada’s Warren Buffett,” has a net worth of $5.7 billion. As the long-time CEO of Brookfield Asset Management, he oversees one of the world’s largest alternative investment firms, with hundreds of billions of dollars in assets under management. Flatt specializes in “real” assets—infrastructure, real estate, renewable power, and private equity.

Flatt joined Brookfield in the early 1990s and became CEO at the age of 37. Under his leadership, the firm transformed from a struggling conglomerate into a global powerhouse known for its value-investing approach and ability to execute massive, complex deals. His personal wealth is largely tied to his ownership in Brookfield and its various publicly traded affiliates. Based in New York but maintaining strong Canadian ties, Flatt is known for his low-key, intellectual approach to investing and his focus on long-term cash flow generation. He represents the pinnacle of institutional investment management in Canada.

12. Daryl Katz

Pharmaceutical retail and Owner of the Edmonton Oilers

Daryl Katz is a prominent figure in the Canadian retail and sports sectors, with a net worth of $5.6 billion. He built his initial fortune by acquiring and expanding pharmacy chains, most notably Rexall, which he eventually sold to McKesson Corporation for approximately $3 billion in 2016. Since then, he has focused on real estate and entertainment.

Katz is the owner of the Edmonton Oilers (NHL) and has spearheaded the development of the “Ice District” in downtown Edmonton, one of the largest mixed-use sports and entertainment districts in North America. This project has revitalized the city’s core and significantly increased the value of his real estate holdings. Katz also owns a significant stake in movie production and distribution companies. His business style is characterized by large-scale, transformative projects that combine commercial interests with civic development. His wealth reflects a successful pivot from retail operations to high-value real estate and professional sports.

13. Mark Scheinberg

Co-founder of PokerStars

Mark Scheinberg built a multi-billion dollar fortune in the online gaming industry, with a net worth of $5.6 billion. He co-founded PokerStars with his father, Isai Scheinberg, in 2001. The company grew into the world’s largest online poker site, hosting millions of players and legendary tournaments.

In 2014, the Scheinbergs sold the parent company of PokerStars, Rational Group, to Amaya Gaming for $4.9 billion. Since the sale, Mark Scheinberg has diversified his wealth through Mohari Hospitality, his private investment vehicle. Mohari focuses on luxury real estate and hospitality projects, including the Four Seasons Hotel and Private Residences in Madrid and various resorts in Costa Rica. Scheinberg’s transition from tech-entrepreneur to luxury real estate investor illustrates the trend of “cashing out” from high-growth digital businesses to reinvest in stable, tangible assets. He remains one of Canada’s wealthiest private citizens.

14. Anthony von Mandl

Founder of Mark Anthony Brands (White Claw)

Anthony von Mandl is the man behind the global “hard seltzer” craze, with a net worth of $5.4 billion. He founded Mark Anthony Brands, which produces White Claw Hard Seltzer and Mike’s Hard Lemonade. White Claw, in particular, became a cultural phenomenon in North America, dominating the market and forcing major breweries to launch competing products.

Von Mandl began his career as a wine importer in Vancouver and eventually founded Mission Hill Family Estate, one of the Okanagan Valley’s most prestigious wineries. His ability to identify emerging consumer trends and build powerful brands has made him one of the most successful figures in the global beverage industry. Despite massive offers from global conglomerates, von Mandl has kept his company private, allowing him to maintain full control over its creative and strategic direction. His wealth is a testament to the power of marketing and product innovation in the competitive consumer goods sector.

15. Leonid Boguslavsky

Venture Capital and Technology Investments

Leonid Boguslavsky is a prominent venture capitalist with a net worth of $5.3 billion. He is the founder of RTP Global, an international venture capital firm that has invested in over 100 companies globally, including early-stage hits like Datadog and Delivery Hero. Boguslavsky, who holds Canadian citizenship, has a background in mathematics and computer science, which informs his data-driven investment approach.

His wealth has grown significantly as several of his portfolio companies have gone public or were acquired at multi-billion dollar valuations. Boguslavsky is known for his “hands-on” approach with founders and his focus on high-growth software and internet companies. He is also a competitive athlete, frequently participating in Ironman triathlons around the world. His position on this list underscores the vital role of venture capital in the modern global economy and the ability of Canadian investors to lead successful international firms.

16. Mark Leonard & family

Founder of Constellation Software

Mark Leonard is the founder of Constellation Software, one of Canada’s most successful and unique technology companies, with a family net worth of $5.1 billion. Constellation is a “serial acquirer” of vertical market software companies—businesses that provide specialized software for specific industries like healthcare, public transit, or utilities.

Leonard is famously reclusive, rarely granting interviews or appearing in public. His business philosophy centers on long-term ownership, decentralized management, and disciplined capital allocation. Constellation has acquired hundreds of small software firms over the decades, turning them into a massive, highly profitable conglomerate. The company’s stock price has seen incredible growth, making many early employees and investors millionaires. Leonard’s wealth is almost entirely tied to his holdings in Constellation. He is widely regarded as one of Canada’s greatest capital allocators, often compared to legendary investors like Warren Buffett.

17. Garrett Camp

Co-founder of Uber

Garrett Camp, with a net worth of $5.0 billion, is the co-founder of Uber, the ride-sharing giant that revolutionized global transportation. Originally from Calgary, Camp came up with the idea for Uber (originally UberCab) after he and Travis Kalanick were unable to find a taxi on a snowy night in Paris. He served as the company’s founding CEO and remains a major shareholder and board member.

Beyond Uber, Camp is a serial entrepreneur and investor. He founded StumbleUpon, an early web discovery engine, and Expa, a “startup studio” that helps build and launch new companies. His wealth has allowed him to invest in dozens of other tech ventures, ranging from financial services to aerospace. Camp is known for his focus on product design and user experience. His rise from a computer science student in Alberta to a global tech titan is one of the most famous success stories in the Canadian technology sector.

18. Ryan Cohen

Founder of Chewy and Chairman of GameStop

Ryan Cohen is a billionaire entrepreneur and investor with a net worth of $4.6 billion. He first rose to prominence as the co-founder and CEO of Chewy, the online pet supply retailer. Cohen grew Chewy into a multi-billion dollar business by focusing on obsession-level customer service, eventually selling it to PetSmart for $3.35 billion in 2017—at the time, the largest e-commerce acquisition in history.

More recently, Cohen has become a central figure in the “meme stock” phenomenon as the chairman and largest individual shareholder of GameStop. He has focused on transforming the legacy brick-and-mortar retailer into a modern e-commerce player. Cohen’s investment style is highly concentrated; he typically holds significant stakes in only a few companies where he believes he can drive massive change. Based in Florida but maintaining his Canadian roots, Cohen is a polarizing but undeniably influential figure in modern retail and equity markets.

19. Carlo Fidani

Real estate development (Orlando Corporation)

Carlo Fidani is a titan of the Canadian real estate industry, with a net worth of $4.3 billion. He is the chairman of Orlando Corporation, Canada’s largest privately owned industrial real estate developer and landlord. The company owns and manages tens of millions of square feet of office, industrial, and retail space, primarily in the Greater Toronto Area.

Fidani inherited the business from his father and has significantly expanded its portfolio over the last two decades. Orlando Corporation is known for its “design-build” approach, handling every aspect of the development process from land acquisition to property management. The company’s assets include massive distribution centers for global retailers and office parks for major corporations. Fidani is also a significant philanthropist, particularly in the areas of healthcare and medical research in Ontario. His wealth reflects the long-term value and stability of the Toronto real estate market.

20. James Irving

J.D. Irving holdings

James “Jim” Irving is a key member of the legendary Irving family of New Brunswick, with a net worth of approximately $4.1 billion. He serves as the co-CEO of J.D. Irving Limited, a massive conglomerate with interests in forestry, shipbuilding, transportation, and retail. The Irving family is the largest employer in New Brunswick and has a profound influence on the economy of the Atlantic provinces.

The J.D. Irving empire is vertically integrated; they own millions of acres of timberland, the sawmills that process the wood, and the ships and trucks that transport the finished products. Jim Irving is known for his hands-on management style and his focus on long-term sustainability and operational excellence. Despite operating in traditional “old economy” sectors, the company has heavily invested in modern technology and data analytics to optimize its vast operations. His wealth represents the enduring power of family-owned industrial giants in the Canadian economic landscape.

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Frequently Asked Questions

Who is the richest person in Canada in 2025?

David Thomson and his family currently hold the title of the wealthiest people in Canada. Their fortune, estimated at over $73 billion, is primarily derived from their controlling stake in Thomson Reuters, a global leader in news and professional information services.

How did Changpeng Zhao become so wealthy?

Changpeng Zhao, also known as "CZ", amassed his wealth as the founder of Binance, the world's largest cryptocurrency exchange. His net worth is tied to his equity in the company and his significant personal holdings in various digital assets like Bitcoin and BNB.

Are most Canadian billionaires self-made or inherited?

The list is a mix of both. Individuals like David Thomson and Carlo Fidani represent legacy family wealth that has been successfully managed and expanded over generations. However, many others, such as Tobi Lütke (Shopify), Garrett Camp (Uber), and Jim Pattison, are self-made entrepreneurs who built their empires from the ground up.

Which industry produces the most billionaires in Canada?

Historically, real estate, retail, and natural resources have been the primary drivers of wealth in Canada. However, in recent years, the technology sector (software, e-commerce, and fintech) and cryptocurrency have become major contributors to the top tiers of the wealth rankings.

Why are some famous Canadians like Drake or Celine Dion not on this list?

While many Canadian celebrities and athletes are incredibly wealthy, this specific list focuses on "billionaires" with net worths typically exceeding $4 billion. Most high-profile entertainers possess fortunes in the hundreds of millions, which, while substantial, does not place them in the top twenty ranking of national billionaires.

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Top 20 Millionaires In Canada

1. David Thomson & family

Media & publishing (Thomson Reuters)

2. Changpeng "CZ" Zhao

Founder of Binance

3. David Cheriton

Stanford Professor and Google Investor

4. Joseph Tsai

Co-founder of Alibaba and Owner of the Brooklyn Nets

5. Jim Pattison

Diversified holdings via the Jim Pattison Group

6. Tobi Lütke

Co-founder and CEO of Shopify

7. Chip Wilson

Founder of Lululemon

8. Alain Bouchard

Co-founder of Alimentation Couche-Tard

9. Ling Tang

Marketing software (AppLovin)

10. Stephen Smith

Financial services and mortgage insurance

11. Bruce Flatt

CEO of Brookfield Asset Management

12. Daryl Katz

Pharmaceutical retail and Owner of the Edmonton Oilers

13. Mark Scheinberg

Co-founder of PokerStars

14. Anthony von Mandl

Founder of Mark Anthony Brands (White Claw)

15. Leonid Boguslavsky

Venture Capital and Technology Investments

16. Mark Leonard & family

Founder of Constellation Software

17. Garrett Camp

Co-founder of Uber

18. Ryan Cohen

Founder of Chewy and Chairman of GameStop

19. Carlo Fidani

Real estate development (Orlando Corporation)

20. James Irving

J.D. Irving holdings

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Frequently Asked Questions

Who is the richest person in Canada in 2025?

How did Changpeng Zhao become so wealthy?

Are most Canadian billionaires self-made or inherited?

Which industry produces the most billionaires in Canada?

Why are some famous Canadians like Drake or Celine Dion not on this list?

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