The Most Notable Canadian Millionaires (Billionaires) by Province

It’s remarkable to see how Changpeng Zhao has surged ahead to become Canada’s richest billionaire, with a net worth of approximately CAD $90.4 billion (US $65.9 billion). As the founder and CEO of cryptocurrency exchange Binance, Zhao represents the growing influence of digital assets and blockchain technology in Canada’s wealth landscape.

Meanwhile, David Thomson, chairman of Thomson Reuters and a prominent media magnate, is now the 8th richest Canadian billionaire, with an estimated fortune of CAD $15.1 billion (US $11 billion). This reflects a diversification and steady performance in media and telecommunications sectors, particularly through Thomson Reuters and related holdings.

The diversity among Canada’s top billionaires is striking — spanning industries such as cryptocurrency, media, e-commerce, sports, and real estate. This range highlights the country’s evolving economic environment, increasingly shaped by technology, innovation, and global commerce.

The term millionaire can mean different things depending on who you ask. Traditionally, it meant having a net worth of at least one million dollars, including all financial assets, real estate, and business holdings, minus debts. With rising real estate prices in Canada, many homeowners are sitting on million-dollar properties. But owning a million-dollar home alone doesn’t necessarily make you a millionaire if your debts outweigh your assets.

Another modern definition focuses on liquid assets: having one million dollars in investable cash or equivalents that can be deployed immediately. This definition tends to emphasize financial flexibility and investment potential.

Regardless of which definition fits you best, having a million dollars in net worth or investable assets is a significant milestone, especially considering the economic challenges of recent years.

At the time of his death in 2018, Clayton Riddell had an estimated net worth of $1.2 billion. He made his fortune in the petroleum industry as the founder of Petroleum Resources Ltd., a company that specialized in oil and gas exploration and production. His legacy continues through his family: the current CEO, president, and chairman is Jim Riddell, Clayton’s son, while his daughter Susan Riddell Rose serves as a director of Paramount Resources Ltd. and is CEO of Perpetual Energy Inc. This family’s combined influence keeps them prominent players in Alberta’s energy landscape, showing that wealth in this sector often remains a family affair

With a net worth of approximately CAD $6 billion (US $4.4 billion) as of 2025, Daryl Katz remains one of Canada’s wealthiest individuals and a key figure in Alberta’s business landscape. Katz is the founder and chairman of the Katz Group of Companies, which initially gained prominence through pharmacy retail with the Rexall chain, sold in 2016.

Today, Katz’s portfolio is more diversified. He owns the NHL’s Edmonton Oilers and has invested heavily in the entertainment sector, including companies like Dark Castle Entertainment. Additionally, Katz has played a pivotal role in the ongoing development of Edmonton’s ICE District, further solidifying his influence on the city’s economic and community growth.

Eskandar, Nader, Raphael, and Bahman Ghermezian operate the Triple Five Group, best known for owning and developing some of the world’s largest shopping malls and entertainment complexes. The group’s portfolio includes iconic North American super-malls such as Mall of America in Minnesota and the West Edmonton Mall in Alberta. Despite the combined family net worth dropping from an estimated $2 billion a few years ago to around $650 million today, the Ghermezian family continues to develop and expand their commercial real estate ventures. Their story highlights how wealth in retail real estate can be cyclical but enduring.

David Thomson, the 3rd Baron Thomson of Fleet, inherited the Thomson Corporation from his father, Kenneth Thomson. The company later merged with Reuters to form Thomson Reuters, a global leader in multimedia and financial information services. As of 2025, David Thomson’s estimated net worth is approximately CAD $15.1 billion (US $11 billion). His siblings, Taylor Thomson and Peter Thomson, also hold significant wealth, each estimated at CAD $15.1 billion (US $11 billion). The Thomson family continues to wield considerable influence in media and publishing, building on decades of strategic growth and acquisitions.

Taiwan-born Joseph Tsai, co-founder of Alibaba Group, is one of Canada’s wealthiest individuals, with an estimated net worth of CAD $15.4 billion (US $11.2 billion) in 2025. A Yale graduate, Tsai has expanded Alibaba's reach far beyond e-commerce into technology, finance, and sports. He owns the NBA’s Brooklyn Nets and holds stakes in multiple other sports franchises. Alongside his wife Clara Wu Tsai, Joseph Tsai is also a prominent philanthropist, having committed over $50 million in recent years to support BIPOC advancement, social justice initiatives, and community development projects.

If you love shopping online, you’re likely familiar with Shopify. Founded in 2006 by German-born Tobi Lütke, along with Scott Lake and Daniel Weinand, Shopify revolutionized e-commerce by providing a platform for businesses of all sizes. Lütke is now one of Canada’s wealthiest entrepreneurs, with a net worth estimated at CAD $12.8 billion (US $9.3 billion) in 2025. Under his leadership, Shopify has expanded into new markets and cutting-edge technologies, cementing his role as a key figure in Canada’s tech boom.

W. Galen Weston, who passed away in 2021 at the age of 80, built a retail empire that spans grocery, fashion, and real estate across Canada and the UK. The Weston family controls significant assets through George Weston Ltd. and Loblaw Companies Limited. Galen G. Weston, who took over as chairman in 2016, continues to drive the family’s business interests forward. The family’s combined wealth is estimated at over $10 billion in 2025, with ongoing investments in sustainability and innovation in retail.

David Cheriton is a computer scientist, mathematician, philanthropist, and one of Canada’s most influential tech investors. His estimated net worth in 2025 is about CAD $20 billion (US $14.5 billion). Cheriton co-founded the Distributed Systems Group and was an early investor in major tech companies including Google. He remains active in supporting technology innovation, education, and research initiatives.

Peter Nygard, the founder of Nygard International, was once one of Canada’s richest men. However, his legal troubles have overshadowed his business legacy. After resigning as Chairman in 2020 amidst sexual assault allegations, Nygard currently faces extradition proceedings in the United States on sex trafficking charges. His legal battles serve as a cautionary tale about reputation and accountability in business.

 Randy Moffat expanded his family’s media empire beyond radio into television and cable channels. As of 2025, Moffat’s net worth is estimated to be around $700 million. His media ventures continue to have significant influence in Manitoba and beyond.

James Armstrong Richardson founded James Richardson & Sons Ltd., a diversified company active in grain, oil, and real estate. The Richardson family remains one of Canada’s wealthiest, with a combined net worth exceeding $6 billion. Richardson passed away in 2004 but left a lasting business legacy.

Sons of industrialist K.C. Irving, James and Arthur Irving have carried forward their family’s business empire. James Irving controls J.D. Irving, Limited, a conglomerate active in forestry, shipping, and manufacturing, while Arthur Irving runs Irving Oil. As of 2025, Arthur Irving’s net worth is estimated at $9.5 billion, and James Irving’s at $6.8 billion. The Irving family’s economic influence remains central to New Brunswick’s economy.

McCain Foods co-founder Harrison McCain passed in 2004, but the McCain family continues to play a significant role in the food processing industry. As of 2023, the McCain estate’s net worth was estimated around $4 billion, with the company expanding its global footprint and product lines.

The Sobey family empire began in 1907 with John W. Sobey’s meat delivery business. Today, Empire Company Ltd., controlled by the family, operates one of Canada’s largest grocery chains, Sobeys Inc., with estimated revenues exceeding $30 billion as of 2024. The family continues to influence Atlantic Canada’s economy strongly.

John Risley, co-founder of Clearwater Seafoods, is one of Canada’s wealthiest seafood magnates with a net worth estimated at $1.5 billion in 2025. Risley has diversified his holdings to include stakes in Ocean Nutrition Canada and other ocean-related ventures, emphasizing sustainability and innovation in fisheries.

Bernard Sherman founded Apotex, a pharmaceutical giant. Tragically, Bernard and his wife Honey Sherman were murdered in 2017, a case that remains unsolved. The family’s estimated net worth at the time was $3.5 billion, likely passed on to their heirs who continue to manage the legacy.

 From humble beginnings working for $0.75 per day, Saul Feldberg built a $1.3 billion office furniture empire with Global Group, founded in 1966. The company recently transitioned leadership to his son Joel, ensuring continued growth and innovation.

Alain Bouchard, co-founder and chairman of Alimentation Couche-Tard, leads a global convenience store empire that includes well-known brands like Circle K. As of 2025, his estimated net worth is approximately CAD $6.9 billion (US $5.1 billion), reflecting the company’s significant international expansion and continued growth in the retail sector.