Rank Name Age City Province Industries Companies Net Worth 2007 Rank % Change
Media, information Thomson Reuters, $18.45
1 Thomson Family NA Toronto ON distribution Woodbridge Co. Ltd. billion 1 -27
James (J. K.), Oil, forestry products, gas
Arthur and John stations, media, Irving Oil Ltd., J. D. Irving $7.11
2 (Jack) Irving NA Saint John NB transportation Ltd. billion 5 34
Food, groceries, real George Weston Ltd., $6.58
3 Galen Weston 68 Toronto ON estate, retail Loblaw Cos. Ltd. billion 3 -9
Edward (Ted) communications, pro Rogers Communications $5.05
4 Rogers 75 Toronto ON sports
Auto sales, food, media, Inc. billion 2 -34
James (Jimmy) entertainment, export $4.93
5 Pattison 80 Vancouver BC services Jim Pattison Group billion 6 9
Steel, real estate, food Midland Resources $4.25
6 Alex Schnaider 40 Toronto ON production and retail Holding Ltd. billion 18 86
7 David Azrieli 86 Montreal QC Real estate Canpro Investments Ltd. billion 13 57
Paul Desmarais $4.11
8 Sr. 81 Montreal QC Financial services, energy Power Corp. of Canada billion 4 -27
Bernard (Barry) $3.77
9 Sherman 66 Toronto ON Pharmaceuticals Apotex Group of Cos. billion 10 5
eBay Inc., Participant $3.14
10 Jeff Skoll 43 Palo Alto CA Internet, media Media billion 7 -30
Fred and Ron $2.83
11 Mannix NA Calgary AB Mining, energy, real estate Mancal Group billion 14 10
12 Carlo Fidani 54 Toronto ON Real estate Orlando Corp. billion 16 16
Food, real estate, $2.62
13 Saputo Family NA Montreal QC transportation Saputo Inc. billion 12 -5
Michael (Mike) $2.59
14 Lazaridis 47 Waterloo ON Mobile communications Research In Motion Ltd. billion 8 -41
Alan, Barry and $2.58
15 Clayton Zekelman NA Windsor ON Steel tubing Atlas Tube billion NA NA
AIC Ltd., National
Financial services, Jamaica Ltd., Columbus $2.44
16 Michael Lee-Chin 57 Burlington ON communications Communications Inc. billion 11 -13
Drug stores, professional Katz Group of Cos., $2.43
17 Daryl Katz 47 Edmonton AB sports Edmonton Oilers billion 15 3
James (Jim) $2.37
18 Balsillie 47 Waterloo ON Mobile communications Research In Motion Ltd. billion 9 -42
Agriculture, real estate, oil James Richardson & Sons $2.34
19 Richardson Family NA Winnipeg MB and gas, financial services Ltd. billion 22 17
20 Charles Bronfman 77 New York NY Entertainment, investing Vivendi billion 19 3
Harrison McCain $2.11
21 Family NA Florenceville NB Frozen foods McCain Foods Ltd. billion 21 -1
Bombardier Bombardier Recreational $2.04
22 Family NA Montreal QC Aerospace, rail Products Inc. billion 17 -11
Standard Broadcasting $1.95
23 Allan Slaight 77 Toronto ON Broadcasting Corp. Ltd. billion 26 4
24 Sobey Family NA New Glasgow NS Groceries, real estate Empire Co. Ltd. billion 23 -9
Frozen foods, food McCain Foods Ltd., Maple $1.75
25 Wallace McCain 78 Toronto ON processing Leaf Foods Inc. billion 24 -10
Iberville Developments $1.75
26 Marcel Adams 88 Montreal QC Real estate Ltd. billion 28 4
Resources Ltd., Ensign
Oil and gas, aerospace, Energy Services Inc., $1.65
27 Murray Edwards 48 Calgary AB pro sports, resorts Calgary Wharf Group PLC,
Canary Flames billion 20 -23
O&Y Properties Corp.,
Reichmann Reichmann International $1.64
28 Family NA Toronto ON Real estate Development Corp. billion 32 5
29 Lalji Family NA Vancouver BC Real estate Larco Investments Ltd. billion 36 14
Terence (Terry) Telecommunications, real Corp., Wesley Clover $1.49
30 Matthews 65 Ottawa ON estate Corp., Alcatel billion 33 -3
31 Jarislowsky 83 Montreal QC Investing Jarislowsky Fraser Ltd. billion 35 -
32 Guy Laliberté 49 Montreal QC Entertainment Cirque du Soleil billion 44 25
33 Brandt Louie 65 Burnaby BC Pharmacies, groceries H. Y. Louie Co. Ltd. $1.4 billion 39 9
Real estate, hotels, $1.35
34 Bob Gaglardi 67 Vancouver BC restaurants Northland Properties Ltd. billion 45 17
35 Muzzo Family NA Woodbridge ON Real estate Muzzo Group of Cos. billion 42 10
distribution, computer $1.32
36 Robert Miller 66 Montreal QC parts, real estate Future Electronics Inc. billion 52 23
Trader Classified Media $1.29
37 John MacBain 50 Geneva CH Media NV billion 40 4
38 David Cheriton 56 Palo Alto CA Technology Google Inc. billion 25 -33
transportation, CBIZ Inc., AutoNation Inc., $1.26
39 Michael DeGroote 75 Bermuda professional services Laidlaw Inc. billion 41 2
40 Peter Gilgan 58 Oakville ON Home building Mattamy Homes Ltd. billion 46 7
Cable TV, Shaw Communications
41 JR Shaw 74 Calgary AB communications Inc. $1.2 billion 34 -19
Newmont Mining Corp. of
Canada Ltd., Canadian Oil
42 Seymour Schulich 68 Toronto ON Oil, mining Sands Trust $1.2 billion 38 -10
Joseph and Ted Real estate, retail, food, $1.19
43 Burnett NA Toronto ON horses Burnac Corp. billion 50 10
Books, auto parts,
Gerald (Gerry) computer parts, real
Schwartz and estate, movies, health Onex Corp., Indigo Books $1.18
44 Heather Reisman NA Toronto ON care & Music Inc. billion 31 -25
Alfredo (Fred) Metrus Developments Inc., $1.14
45 deGasperis 74 Concord ON Real estate, construction Con-Strada Group of Cos. billion 53 10
Ltd., Paramount Energy $1.14
46 Clay Riddell 71 Calgary AB Oil, restaurants, pro sports Trust, Trilogy Energy Trust billion 37 -16
47 Kruger Family NA Montreal QC Forestry products Kruger Inc. billion 57 21
48 Richard Li 41 Hong Kong broadcasting PCCW Ltd. billion 51 4
Wendy’s International Inc.,
Ronald (Ron) Doughnuts and coffee, Tim Hortons, Shaw $1.09
49 Joyce 77 Calgary AB golf resort Communications Inc. billion 49 -
SmartCentres Inc., $1.06
50 Mitchell Goldhar 47 Toronto ON Real estate Calloway REIT billion 48 -7
51 Frank Stronach 76 orf AT Auto parts, horses Magna International Inc. billion 54 2
52 Douglas Fregin 48 Waterloo ON Mobile communications Research In Motion Ltd. billion 27 -40
Industries Ltd., Viventia $1.02
53 Leslie Dan 80 Toronto ON Pharmaceuticals Biotech, Novopharm Ltd. billion 55 4
Samuel, Son & Co. Ltd., $977
54 Samuel Family NA Toronto ON Steel, horses Samuel Manu-Tech Inc. million 56 1
Jean Coutu Group (PJC) $955
55 Jean Coutu 81 Montreal QC Pharmacies Inc. million 30 -42
Kilmer Group, Maple Leaf
Lawrence Sports & Entertainment $951
56 Tanenbaum 63 Toronto ON Sports, investing Ltd. million 60 8
Burrard International $904
57 Chan Family NA Vancouver BC Golf courses, real estate Holdings Inc. million 68 15
Rudolph (Rudy) $898
58 Bratty 76 Vaughan ON Real estate Remington Group Inc. million 72 20
Vittorio (Vic) De Royal Group Technologies $885
59 Zen 66 Vaughan ON Plastics, real estate Ltd. million 61 2
60 Ronald Southern 78 Calgary AB Power generation, utilities ATCO Ltd. million 47 -23
61 Eric Sprott 64 Toronto ON Investing Sprott Inc. million NA NA
Ekati Diamond Mine, $871
62 Stewart Blusson 69 Lions Bay BC Mining Archon Minerals Ltd. million 94 75
63 Charles Sirois 54 Verdun QC Telecommunications Telesystem Ltd. million 59 -4
Real estate, laboratory
services, air cargo, Dynacare Inc., L Group of $856
64 Albert Latner 81 Toronto ON gaming Cos. million 63 2
Income Fund, FPI Ltd.,
Fisheries, food Ocean Nutrition Canada,
supplements, Columbus $855
65 John Risley 60 Bedford NS communications Communications million 78 26
Teknion Corp., Global $850
66 Saul Feldberg 72 Toronto ON Office furniture, real estate Group Inc. million 65 3
Charles (Chuck) $842
67 Fipke 62 Kelowna BC Mining, horses Ekati Diamond Mine million 87 64
68 Greenberg Family NA Ottawa ON Real estate Minto Group Inc. million 71 10
Oil and gas, investing, Hutchison Whampoa Ltd.,
utilities, Trinity Time Investments $824
69 Victor Li 44 Hong Kong telecommunications, retail Inc. million 73 11
Henry (Hal) Financial services, real $815
70 Jackman 76 Toronto ON estate E-L Financial Corp. Ltd. million 67 -
Julien and Delia $802
71 Moog NA Toronto ON Real estate, golf courses The Kolter Group LLC million 62 -7
72 Larry Rossy 66 Montreal QC Retail Dollarama Group LP million NA NA
Cliff and Dave Construction, Ledcor Group of Cos., $781
73 Lede NA Calgary AB communications 360networks million 77 13
Energy and environmental
waste management $780
74 David Werklund 63 Calgary AB services CCS Corp. million 66 -5
Inwest Investments Ltd.,
Hassan Real estate, health care, DR I Capital Inc., Future $774
75 Khosrowshahi 68 Vancouver BC retail Shop Ltd. million 76 10
76 Koschitzky Family NA Toronto ON Building supplies IKO Group million 79 7
Communications, frozen Oxford Frozen Foods Ltd.,
foods, building supply Bragg Communications, $686
77 John Bragg 68 Colingwood NS stores Bragg Lumber Co. Ltd. million 74 -4
78 Peter Nygård 67 Bahamas Clothing Nygård International Ltd. million 80 2
Pharmaceuticals, Biovail Corp., Ottawa $672
79 Eugene Melnyk 49 Barbados professional sports Senators million 70 -11
Belkorp Group of Cos.,
Canadian Hotel Income
Properties REIT, Rogers
Real estate, sugar, waste Sugar Income Fund, $670
80 Belkin family NA Vancouver BC management, oil and gas Wastech Sevices Ltd. million 86 9
81 Amar Doman 38 Vancouver BC Building materials Futura Corp. million NA NA
Moffat Communications $598
82 Randall Moffat 65 Winnipeg MB Cable TV, broadcasting Ltd. million 82 -10
83 Michael Potter 64 Ottawa ON Software, investing Cognos ULC million 90 4
Michael Kors Inc., $566
84 Lawrence Stroll 49 Montreal QC Clothing Sportswear Holdings Ltd. million 100 34
Competitive Foods $548
85 Jack Cowin 66 Sydney AU Fast food, wine, tourism Australia Pty. Ltd. million 96 14
86 Isadore Sharp 77 Toronto ON Hotels Four Seasons Hotels Inc. million 93 7
de Gaspé $543
87 Beaubien Family NA Montreal QC Broadcasting, magazines Telemedia Corp. million 97 14
88 Aldo Bensadoun 69 Montreal QC Footwear Aldo Group Inc. million 87 -6
Century 21 Real Estate
Real estate, mortgage Canada, Uniglobe Travel
U. Gary broker and travel agency (International) Inc., $536
89 Charlwood 66 Vancouver BC franchises Centum Financial Group million NA NA
90 André Chagnon 80 Montreal QC Cable TV, broadcasting Vidéotron Ltée million 91 3
Oil and gas, professional Resources Ltd., Calgary $508
91 Allan Markin 63 Calgary AB sports Flames million NA NA
92 Libfeld Family NA Toronto ON Real estate development Conservatory Group million 100 14
Ivanhoe Mines Ltd., $503
93 Robert Friedland 58 Singapore Mining, energy Ivanhoe Energy Inc. million 29 -70
94 Bill Comrie 59 Los Angeles CA Retail Brick Group Income Fund million 92 -5
95 Chip Wilson 53 Vancouver BC Yogawear Lululemon Athletica million 43 -59
Furniture, home Leon's Furniture Ltd., $471
96 Leon Family NA Toronto ON appliances Appliance Canada million 75 -34
Frozen foods, forestry High Liner Foods Inc.,
products, nursing homes, Extendicare Inc., Assisted
shipping, trucking, real Living Concepts Inc., $470
97 Jodrey Family NA Hantsport NS estate Algoma Central Corp. million 89 -15
98 Robert Gratton 65 Montreal QC Financial services Power Financial Corp. million 81 -29
99 Lee Ka Lau 52 Toronto ON Computer graphics parts ATI Technologies Inc. million 98 1
100 Molson Family NA Montreal QC Beer Molson Coors Brewing Co. million 58 -48
Items in yellow require footnotes. For cities, in some cases 2 cities were given; for ranks, in some cases 2006 data was given.
Thomson Corp. completed its acquisition of Reuters Group PLC for $16.5 billion on April 17. The new company combines the
journalism and market analysis of Reuters with Thomson's massive databases aimed at those working in science, law and
accounting. David Thomson, 51, assumed the role of chairman at Thomson Reuters.
In March, British Petroleum and Irving Oil entered into a memorandum of understanding to work on the next phase of the proposed
Eider Rock refinery in Saint John, N.B. BP will contribute US$40 million. In May, Irving Oil also received approval from New
Brunswick's Department of Natural Resources to explore the potential of tidal power development in the Bay of Fundy.
In light of increasing food prices and competition from low-cost food retailers, Loblaw Cos. Ltd. continued a complex restructuring
plan. In the second quarter, its profits, attributed to a charge related to a restructuring strategy and the sale of financial investments,
rose 18%. In July, the company also unveiled its first environmental flagship store in Scarborough, Ont. The store uses recycled heat,
among other innovations, to reduce its carbon footprint.
In October, Rogers was hospitalized for what was described as an existing cardiac condition. He temporarily stepped down as CEO of
Rogers Communications Inc., replaced by chairman of the board Alan Horn. The company says his leave will be determined by his
health. RCI reported an 84% rise in third-quarter net income, largely due to offering Apple's popular iPhone 3G to Canadian
Starting as a single car dealership in 1961, the Jim Pattison Group has turned into the third-largest private company in Canada. In
February, the group bought the Guinness World Records company for an undisclosed price. The group now boasts interests that
include car dealerships, supermarkets and Ripley's Believe It or Not tourist attractions.
While increasing investments in Russian real estate, Canada's youngest billionaire is also rapidly increasing his chain of convenience
mini-marts in the Ukraine. His company, Midland Group, was set to open 110 more stores before the end of this year until the current
economic crisis forced them to change their development plans; 55 stores are already in operation. Shnaider also bought an 80%
stake in the Maccabi Tel Aviv Football Club.
Real estate mogul Azrieli donated $5.5 million to the Carlton University School of Architecture in January, bringing his philanthropic
investment in the school to more than $8 million. Azrieli graduated from the school in 1997, when he was 75 years old. In August,
Azrieli published Rekindling the Torch: The Story of Canadian Zionism, which celebrates Canadian Jews' contributions to Israel.
Earlier this year, Power Corp.'s Desmarais was presented France's highest distinction, the Grand Cross of the Legion of Honour.
During the presentation, President Nicolas Sarkozy conceded that he owes his position, in part, to the advice, friendship and loyalty of
Desmarais. Meanwhile, controversial Quebec author Robin Philpot writes in his new book, Behind the Desmarais State: Power, that
Desmarais has "unhealthy" relationships with past and present Quebec and Ottawa politicians.
Apotex Inc., Canada's largest generic drug maker, was awarded a tender from the Rwandan government to provide the AIDS drug
Apo TriAvir to the African country. Apotex, chaired by Sherman, is the first company in Canada to offer the drug under the Canadian
Access to Medicines Regime, which provides a way for developing countries to import cheaper, generic versions of patented drugs
and medical devices.
Skoll's Participant Productions changed its name in 2008 to Participant Media to reflect its expansion into other forms of entertainment
beyond film. Skoll, the founding president of eBay and founder and chairman of the Skoll Foundation, also announced additional
investments of $19.18 million in the recipients of the 2005 Skoll Award for Social Entrepreneurship. The investments are designed to
help these groups promote change and achieve sustainability.
Fred chairs the privately owned Mancal Group while brother Ron chairs Coril Holdings Ltd. Vannessa Ventures Ltd., in which Ron’s
Exploram Enterprises Ltd. is the controlling shareholder, changed its name to Infinito Gold Ltd. Ron also holds an honorary doctor of
laws degree from the University of Alberta.
The reclusive owner of Orlando Corp. could be the richest Italian in North America. The largest company of its kind in Canada, the
real estate construction firm owns and manages properties in excess of 35 million square feet. Its land bank could provide future
expansion of more than 1,000 acres in the Greater Toronto Area in addition to its 3,000 acres of business parks.
Saputo Inc. continued its growth this year through the acquisition of Alto Dairy Cooperative, which has two plants in Wisconsin.
George Weston Ltd. also sold its Neilson Dairy to Saputo for $465 million. The Saputo Stadium in Montreal was inaugurated in May
when the soccer team Montreal Impact played a tie game against the Vancouver Whitecaps. The stadium, which received a $7.5-
million donation from the family, will host Impact home games and international soccer tournaments.
RIM opened a research and development centre near the city of Düsseldorf, Germany. The deal was announced in April, and
employees began work in the facility in July. RIM is pushing into the lucrative European market and transforming itself from a business-
only brand to a player in the global consumer cellphone market.
Like many of the fabulously wealthy, the Zekelman brothers made their fortune in a mundane industry: steel tubes. Founded by their
late father in 1984 and headquartered in Harrow, Ont., Atlas Tube was partially sold to the Carlyle Group, the powerful Washington,
D.C.-based private equity firm, for $1.5 billion in 2006. That same year, Atlas merged with John Maneely Co., a U.S. steel producer
owned by the Carlyle Group. The Zekelmans were poised for another cash windfall when Russia’s Novolipetsk Steel announced plans
in August to purchase John Maneely for US$3.5 billion. The buyer, however, recently backed out of the deal, prompting the Carlyle
Group to file a lawsuit.
A noted philanthropist, Lee-Chin donated a further US$1.5 million to the Seventhday Adventist-owned Northern Caribbean University
in Jamaica, to top off an initial gift of US$2 million. The money will go to the construction of the Hyacinth Chen School of Nursing, in
honour of Lee-Chin’s mother. The chairman of Portland Holdings Inc. was also awarded a lifetime achievement award by the
Canadian Youth Business Foundation.
After spending 10 months trying to work out a deal and initially offering $145 million for the Edmonton Oilers, Katz finally bought the
hockey team in February for $200 million. There are hopes the reclusive pharmacy billionaire will build a new arena and commit to
keeping the Oilers in Edmonton. There is also speculation that Katz may be willing to build a training facility for the team at the
University of Alberta and spend the maximum per player under the salary cap.
To compete in the global cellphone market, RIM introduced a flip phone in 2008. The company also released a touch screen
BlackBerry in the U.S. and Germany. Analysts say that RIM is gearing up to battle with Apple and is increasing its spending on things
like branding campaigns.
After picking up a whole slew of grain elevators and other assets last year from Saskatchewan Wheat Pool Inc., family-owned James
Richardson International Ltd. then set out to beef up its distribution and storage capabilities with $40 million in facility expansions. Nine
of 16 projects have been completed, and the company says the rest are on track to be finished this year. After escalating costs forced
an internal review of the initial plan to build a new 100-million canola crushing plant in Yorkton, Sask., the company’s board gave the
go-ahead, and the facility is scheduled to open in early 2010.
Philanthropist Bronfman married architect Bonita Roche in a September ceremony at the Seagram building in Manhattan. It was
Bronfman’s third marriage. He is co-chairman of Birthright Israel, an organization that provides an educational travel experience to
young Jewish adults. He holds honorary citizenship of Jerusalem, the second North American to ever receive the honour.
South of the border, McCain Foods USA tried to take advantage of the name recognition possibilities associated with Republican
presidential hopeful John McCain by spending a year’s worth of online ad dollars on a U.S. election-themed marketing campaign. A
slogan highlighting the company’s anti-transfat stance reads, “McCain goes to war over oil!” Meanwhile, here in Canada, McCain
Foods (Canada) opened a new $65-million potato-processing facility in Florenceville, N.B., to replace the company’s first factory, built
Bombardier Inc. announced a civil aviation first in October, when a test aircraft made a maiden flight equipped entirely with an all-
electric braking system. The world-leading manufacturer also launched the CSeries, a family of aircraft designed for the 100- to 149-
seat market. Although the CSeries is touted as more fuel efficient and cheaper to operate than other jets, the company has so far only
received a letter of interest for up to 60 aircraft from Lufthansa.
Allan’s son Gary remains on the board at Astral Media Inc. after the $1.1-billion sale of the family’s Standard Radio Inc. to the
company last year. He has also stayed involved in the broadcast business in general. Gary is a key investor in Glassbox TV Inc., a
“digitally-savvy” media company aimed at a younger audience, and a backer of the Fight Network, which airs a combination of
wrestling, boxing and mixed martial arts. But it’s not all business for the Slaights. In the spring, Gary said the family earmarked at least
$100 million from the proceeds of the sale to Astral for charitable giving aimed at healthcare, children and the arts.
There is fierce competition in Canada’s grocery sector, with Metro consolidating brands, Loblaws re-energizing and Wal-Mart settling
into the space. Meanwhile, Sobeys Inc. CEO Bill McEwan says the Nova Scotia chain is in the midst of an aggressive expansion
westward, including new stores and conversions in Alberta and B.C. as well as last year’s acquisition of the 20-store Thrifty Foods
chain. Sobeys also launched a new customer rewards program called Club Sobeys.
It was a rough year for Maple Leaf Foods Inc., which suffered from massive product recalls, a lengthy plant closure and serious public
image problems after a listeriosis outbreak that caused 20 deaths was linked to meat processed at a Maple Leaf factory in Toronto.
The company logged a nearly $13-million loss in the third quarter, and the total cost of the recall is pegged at about $30 million.
Michael McCain, the company’s CEO and Wallace’s son, tackled the problem head on by publicly apologizing in television
commercials. The company recently hired its first chief food safety officer.
Adams’s Montreal-based real estate firm Iberville Developments Ltd. owns and manages more than 100 properties covering nearly
eight million square feet of space. The assets consist mainly of retail shopping centres but also include industrial, office and
residential properties. While his son Sylvan now takes care of the family business, Marcel made certain his philanthropic interests
remained relevant this year, despite the rise in the value of Israel’s currency against the U.S. dollar. He sweetened the value of his 10
annual Adams Fellowships for doctoral students in Israel with a one-time gift on top of the grants worth a minimum of US$20,000 plus
On Aug. 18, Edwards, vice-chairman of Canadian Natural Resources Ltd., cohosted billionaires Bill Gates of Microsoft and investment
guru Warren Buffett on a trip to his company’s Horizon Oil Sands Project site, about 100 kilometres north of Fort McMurray, Alta. By
October, CNRL’s stock lost almost half its value due to falling oil prices.
Early this year, Canada’s longtime real estate family made headlines when it announced plans to build and run a new slate of seniors’
complexes across the country, including Mississauga, Ont., and a $25-million complex near Windsor. Barry Reichmann, son of family
patriarch Paul, is president of the firm handling the ventures, Reichmann Seniors Housing Development Corp.
Larco Investments Ltd. isn’t going to let the real estate slowdown deter sales at its latest project in B.C. To attract homebuyers to its
Morgan Crossing development in South Surrey, the family-owned company is offering mortgage assistance programs, extra parking
spaces and a new Guarantee My Property Value program. Under this offer, the developer provides buyers with a pre-purchase
appraisal of the home and, if its value falls before completion, Larco will deduct the decreased amount from the purchase price by up
Ottawa-based Bridgewater Systems Corp., a software company under Matthews’ Wesley Clover umbrella, completed a $35-million
IPO that netted the company $20 million. Bridgewater’s fiscal 2007 revenue increased 27% to $39 million, while Q4 was the firm’s
15th consecutive profitable quarter. Matthews continues with preparations for the 2010 Ryder Cup at his Celtic Manor Resort in
Wales. The new Twenty Ten golf course is now open, and once the project is complete, Matthews will have invested nearly $30
million in designing, developing and building the new course, a clubhouse and other infrastructure for the event.
When it comes to his opinion about the causes of the current economic crisis, Jarislowsky doesn’t mince words. He told a newspaper
in Montreal: “This crisis is totally man-made. It was made through sheer stupidity, a lack of regulation…indulgence and greed.” The co-
founder of the Canadian Coalition for Good Governance is now also a board member of FAIR, the Foundation for the Advancement of
Investor Rights, which was launched in September. In the summer, his firm, Jarislowsky Fraser Ltd., took on Philip Morris
International Inc. in an unsuccessful attempt to sweeten a $2-billion takeover offer for Rothmans Inc., of which Jarislowsky Fraser
Laliberté sold 20% of Cirque du Soleil to a pair of companies owned by the government of the United Arab Emirates, but he will
maintain control of the world-famous circus he founded in 1984. In addition to his work with the Cirque, he created the One Drop
Foundation, which aims to provide access to safe drinking water. Laliberté was awarded an honorary doctorate from Laval University.
Notoriously low-key, Louie was honoured in grand style in September at a gala hosted by the CHILD Foundation. The first Great
Canadian Achievement award was bestowed upon the H. Y. Louie Co. Ltd. and London Drugs CEO for his “remarkably successful
business career and deeply held personal and family values.” Those values also extend to the natural world, as Louie proved when he
didn’t hesitate to offer up a Learjet from his London Air Service (LAS) to four endangered frogs in need of an emergency flight from
the Toronto Zoo to the Vancouver Aquarium. The LAS executive business is growing. This summer, the operator ordered five Learjet
85 aircraft from Bombardier Inc., valued at about $86 million.
Gaglardi’s private company, Northland Properties Ltd. — the parent of Sandman Hotels, Denny’s restaurants, Moxie’s Classic Grill
and Northland Asset Management — increased its stake in the Revelstoke Mountain Resort, on B.C.’s Mount MacKenzie. In October,
the company announced it would assume full responsibility and control of the project, in which it has been a partner since last year.
Media reports have put Northland’s initial stake at more than $10 million in the billion-dollar project.
Marc Muzzo is the principal in Marel Contractors and Pemberton Group, a condo developer. He is also the chair of the Muzzo Family
Charitable Foundation that was established to develop medical and scientific research in association with hospitals and universities.
The family continues philanthropic contributions in the name of its late patriarch, Marco Muzzo, who was one of the main developers
of Toronto in the postwar years.
The founder and CEO of Future Electronics Inc. marked its 20th anniversary of operating in Europe by announcing plans for a €40-
million distribution centre in Leipzig, Germany. The centre will be in operation by the first half of 2010 and will source components for
all of Europe and the Middle East.
MacBain is putting the classified ad fortune he made with his ex-wife, Louise Blouin MacBain, to good use these days. His McCall
MacBain Foundation is set to spend about $1 billion in the next 25–40 years on charitable endeavours in Africa, including a donation
to a campaign to build a school in Kenya, organized by students at his old high school in Niagara Falls, Ont. He is also chairman of
the board of the European Climate Foundation, an organization based in the Hague that aims to reduce carbon emissions on the
With his new startup Arista Networks, Cheriton has reunited with past business partner Andy Bechtolsheim. The dynamic duo’s
previous successful ventures include Granite Systems, which Cisco Systems bought for US$220 million in 1996, and Kealia, which
Sun Microsystems bought in 2004. The reunited partners are sole investors in Arista, which sells 10-gigabit Ethernet switches.
Cheriton is the firm’s chief scientist.
In October, Waste Services Inc. announced the appointment of DeGroote as chairman. His sons Michael and Gary are both directors
of the Burlington, Ont.-based company. Waste Services, which also operates in the U.S., posted third-quarter revenue growth of 1.6%
to $125.7 million compared to the same period in 2007.
Gilgan’s Mattamy Homes Ltd., the largest home builder in Canada, raised hackles when it bought about 300 acres of farmland in
Richmond, southwest of Ottawa. Residents are concerned with urban sprawl and will not be easy to appease; the Richmond Village
Association is worried about who will foot the bill for the new infrastructure and social services the new development will engender.
Mattamy has built homes and communities throughout Canada and in parts of the United States.
Shaw Communications Inc. CEO Jim Shaw, JR’s son, has been busy. First, he wrote an angry letter to Prime Minister Stephen Harper
in April condemning CRTC hearings on the future of television. His Calgary-based firm then spent $190 million to secure about 20
megahertz of spectrum during Canada’s $4.3-billion wireless licence auction. And in August, Shaw acquired Vancouver Island’s
Campbell River Cable System, in a deal worth approximately $46 million.
Schulich went on a bit of a buying spree this year in the wake of the market crash. He bought two million shares in Birchcliff Energy
Ltd., which gives him a more than 20% stake. He also picked up shares in a couple of Canadian gold juniors: New Gold Inc. and
Starfield Resources Inc. Schulich has a Buffett-esque take on the opportunities afforded by the economic downturn. “On the equity
market collapse? I love the smell of fear in the morning,” he told one newspaper. All this investing didn’t distract him from his
philanthropic interests; he donated $5 million to McGill University for graduate student fellowships.
This fall marked the partial completion of Burnett-owned Burnac Corp.’s six-storey, 211-unit Madison Avenue Lofts in Toronto. The
project began in 2006 and converted an old Toronto Hydro building into residential lofts. The family business is also pumping money
into the makeover of its Mayflower Mall in Cape Breton, spending $10 million to convert 120,000 square feet of its retail space for
Sport Chek, Winners and Future Shop.
Both partners in this power couple are making against-the-grain decisions in the midst of a crumbling economy. While the U.S.
housing market plummeted, Schwartz’s private equity firm Onex Corp. spent US$318 million on a 50% stake in U.S. home cabinetry
manufacturer RSI Home Products Inc. Equally undaunted, Indigo Books and Music Inc. CEO Reisman launched a new high-end eco-
gift store, Pistachio, with two locations in Toronto and plans for six to eight of the green boutiques nationally in 2009. More recently,
when GM put its ACDelo division up for sale in October, industry speculation tagged Onex as a likely buyer for the aftermarket parts
business that’s worth an estimated US$4 billion.
In July, Metrus Developments Inc. purchased the David Dunlap Observatory and 190 acres of land in Richmond Hill, Ont., from the
University of Toronto. The sale generated $70 million for the university and will support the recently established Dunlap Institute for
Astronomy and Astrophysics. Metrus president DeGasperis plans to keep the observatory, its telescope and the 1850s-era Alexander
Marsh farmhouse as is.
Riddell remains chairman and CEO of Paramount Resources Ltd., and with his children in top roles — Sue Riddell-Rose as head of
Paramount Energy Trust and her brother Jim as COO of Paramount and executive chairman of spinoff firm MGM Energy Corp. —
he’s keeping it in the family. Riddell is steadfast in his belief that natural gas will flow through the Mackenzie Valley pipeline, although
he has backtracked on his declaration that it will happen before he turns 75, on July 13, 2012, and is now looking to 2015 and beyond.
Calgary-based Paramount’s Q3 earnings came in at $103.9 million, compared to an $82.2-million loss for the same period last year.
After proceeding with various production shutdowns across the country, Kruger Inc. and the Quebec government announced a major
investment in employee training and retention at the company’s Trois-Rivières paper mill. Kruger plans to invest $8.4 million in the
program, while Emploi Québec will contribute $2.8 million. Kruger has experienced hard times as the paper industry copes with the
stock market collapse and high production costs.
Communications company PCCW Ltd. announced in November that it agreed to be taken private by Li’s wholly owned subsidiary,
Pacific Century Regional Developments Ltd., and China Netcom Corp. The deal, valued at US$3.7 billion, cements Li’s control over
PCCW, which has a dominant position in Hong Kong’s landline phone business.
On Christmas last year, Joyce, along with defence minister Peter MacKay and Gen. Rick Hillier, made a trip to Afghanistan to deliver
season’s greetings to Canadian troops. The former Tim Hortons owner’s donation of $10 million to McMaster University will help
launch the Burlington campus, at which classes are slated to begin in September 2009. A 2005 gift of $10 million to McMaster
established the Ronald V. Joyce stadium and was the largest private donation to a Canadian university athletic program.
Goldhar’s SmartCentres Inc. drew some major opposition from residents of a Toronto neighbourhood for a proposed development
that was rumoured to include a 1,900-car parking lot and a Wal-Mart. NDP leader Jack Layton said the province should “step in and
quash” the deal. SmartCentres says the project isn’t a bigbox store, and plans submitted to the Ontario Municipal Board show a
pedestrian mall beside a mixed-use development.
A year after Stronach announced he was sharing control of Magna International Inc. with Oleg Deripaska, the Russian oligarch
announced that he was forced to cede his 18% stake in the auto parts company to bankers who helped fund the initial investment.
Stronach will have to find another way to push into Russia in an effort to offset declining sales in North America and western Europe.
When he and his buddy Mike Lazaridis took out a $15,000 loan from Mike’s parents in 1984 to start a business, Fregin surely couldn’t
have imagined he would one day be able to retire as a billionaire at age 47. While he was never one of the public faces of the
company he cofounded, Research In Motion Ltd., the former vice-president of operations’ stamp was all over its products. In fact, it
still is. Last spring, RIM was assigned a U.S. patent for a “spark gap apparatus” that Fregin had applied for at the end of 2006 before
In January, Viventia Biotech Inc., formerly Novopharm Biotech, announced it is about 12 months away from the expected final efficacy
data for its Phase 3 trial on the promising oncology drug Proxinium. The drug has been undergoing a clinical trial on 300 patients with
advanced head and neck cancer. Dan’s company also announced it had advanced three antibody programs into clinical trials.
Industrials and technology company Samuel Manu-Tech Inc. released good third-quarter results in late October: sales increased 17%
over the comparable period of last year. The rise was largely due to recent acquisitions and startup operations as well as an increase
in selling prices. In August, the company completed the sale of its Nanticoke, Ont., steel pickling operation to U.S. Steel Canada for
The not-so-hot weather this summer had a negative effect on more than just cottage weekends in Quebec. Jean Coutu Group CEO
François Coutu blamed inclement weather for a drop in his pharmacy chain’s front-of-store sales, as suntan lotion didn’t fly off the
shelves as it should. But it was the company’s holdings in U.S.-based drugstore chain Rite Aid that dragged Jean Coutu Group to a
$39.1-million loss for the second quarter that ended in August.
Tanenbaum’s efforts to bring an NFL team to Canada finally paid off: in February, the group headed by him and Ted Rogers
announced the Buffalo Bills would receive $78 million to play eight games in Toronto over the next five years. The chairman of Maple
Leaf Sports & Entertainment Ltd. also received the Order of Canada in Quebec City this year. Tanenbaum and his wife, Judy, pledged
$1 million toward a humanrights museum planned for Winnipeg.
Caleb Chan’s Burrard International Holdings Inc., a real estate management and development firm, owns and operates nine golf
courses throughout B.C. and three in Hawaii. One of them, Arbutus Ridge on Vancouver Island, committed itself to environmental
sustainability and received certification from the Audubon Cooperative Sanctuary Program for Golf Courses, designed to help
landowners preserve the environmental quality of their property.
The real estate mogul’s mansion in Vaughan, Ont., will be the location of a 20-person pool party catered by Mark McEwan, the chef
behind North 44, a popular gourmet restaurant in Toronto. The event recently sold for $50,000 at an auction for the Villa Charities
Foundation, which provides housing and long-term care for elderly people in Ontario’s largest city. Bratty, who chairs the organization,
probably isn’t worried that revellers will trash his place. The winning bid came from his son Michael.
More than a decade after allegedly defrauding Royal Group Technologies Ltd., founder and former CEO and chairman De Zen was
charged with fraud in June. De Zen and other former executives allegedly defrauded shareholders of $27.4 million in a land deal and a
further $2 million in the sale of a subsidiary. The charges came almost five years after De Zen stepped down as CEO.
The Calgary-based ATCO Group, chaired by Southern, announced the launch of ATCO Water, a company focused on designing,
building and operating facilities and infrastructure for both industries and municipalities. The group is also working with a local
company based in Abu Dhabi to provide housing for 20,000 temporary workers building the US$27-billion Saadiyat Island project. This
partnership’s project is the largest ATCO Structures has undertaken.
Based partly on performance data and the large amount of attention Sprott Asset Management’s IPO brought to the Canadian
industry, Eric Sprott was awarded the Most Significant Industry Development in the Last Year honour at the Canadian Hedge Fund
Awards in September. In the same month, the company announced the launch of the Sprott All Cap Fund.
Geologist Blusson struck it rich in the early 1990s when he and Charles Fipke discovered the Ekati Diamond Mine in the Northwest
Territories. Now, Blusson is giving other scientists a chance to rake in the cash. Archon Minerals Ltd., his diamond company
headquartered in Vancouver, is the sponsor of the Archon X Prize for Genomics. Administered by the Playa Vista, Calif.-based X
Prize Foundation, which promotes radical scientific breakthroughs, the US$10-million prize will be awarded to a team with a device
that can sequence 100 human genomes within 10 days.
Venture capitalist Sirois is currently a director of the Canadian Imperial Bank of Commerce, Orchestre Symphonique de Montréal and
Cossette Communication Group. As the chairman and CEO of Enablis Entrepreneurial Network, a nonprofit organization sponsored
by the G8, he supports entrepreneurs in developing countries by giving them affordable access to professional and financial
Latner has run medical diagnostic laboratories, a casino and an air-cargo shipper. Along the way, he’s become a seasoned
philanthropist. He currently supports the Temmy and Albert Latner Israel Center for the Treatment of Psychotrauma at Jerusalem’s
Herzog Hospital. Former members of the Israel Defense Forces receive treatment at the facility, which has been praised by everyone
from Israel’s outgoing prime minister, Ehud Olmert, to Matisyahu, a cult American reggae artist who is a devoted Hasidic Jew.
Long before Clearwater Seafoods Income Fund suspended distributions earlier this year, it was obvious something had to be done.
Risley, who co-founded Clearwater in 1976, offered to take it private in August. To help fund the transaction, he planned to borrow $25
million from Glitnir Banki HF, an Icelandic bank. Unable to weather the credit crisis, however, Glitnir collapsed into receivership a
couple of months later. It was only a sliver of the approximately $190 million Risley needed to borrow to pull off the privatization, but
he was unable to replace it. Clearwater’s future remains uncertain.
Global Group’s once publicly traded affiliate, Teknion Corp., went private in an offer from an offshoot of controlling shareholder A-
Tean Holdings Ltd. Public stake in the Feldberg family’s office furniture company was valued at $76 million. Teknion had growing
sales in 2008 in the U.S., which now accounts for almost 60% of its revenue.
The geologist garnered worldwide attention for discovering the Ekati Diamond Mine in the Northwest Territories in the 1990s. Fipke
and partner Stewart Blusson subsequently sold a majority stake in Ekati to Australian mining giant BHP Billiton, but Fipke maintains a
10% interest. He is now executive chairman of Metalex Ventures Ltd., a junior diamond play. Metalex claimed to have discovered rare
purple diamonds in Quebec in August, but shareholders were not impressed — its stock is currently trading for pennies on the TSX
Venture Exchange. Earlier this year, Fipke made headlines of a sportier sort — his horse, Tale of Ekati, came fourth in the 2008
Roger Greenberg and two partners, along with Jeff Hunt, owner of the Ottawa 67s, are hoping to bring the CFL back to Ottawa with
ambitious plans for Lansdowne Park that include an updated football and soccer stadium, an aquarium, and a retail and restaurant
complex. The family of the late Irving Greenberg also donated $9 million to the Queensway Carleton Hospital. The money will help to
build a cancer facility, set to open in 2009 as the Irving Greenberg Family Cancer Centre.
Membership in one of Hong Kong’s wealthiest families has its privileges. Among them: Li was one of 120 people selected to carry the
Olympic torch through Hong Kong during the lead-up to the Beijing Olympics. More significantly, he is widely expected to succeed his
father, legendary businessman and billionaire investor Li Ka-shing, as head of Hutchison Whampoa Ltd. That would put him in charge
of an extensive empire that includes real estate, banks, media and container ports. The younger Li is not doing badly himself: for his
various roles in the family business, he reportedly earned more than $15 million in 2007.
The founder of E-L Financial Corp. Ltd. was the 2008 winner of the Edmund C. Bovey Award. The award recognizes his commitment
to the arts in Canada and notes that one of his greatest legacies was the establishment of the Hal Jackman Foundation to support
Toronto’s cultural centre and educational institutions.
Julien and Moog’s Kolter Group formed a joint venture with an affiliate of Och-Ziff Real Estate Acquisitions LP that will seek to acquire
$1 billion worth of assets using equity and debt. The investment vehicle will target the acquisition of residential communities and will
invest in assets ranging from land to developed condos in the southeastern United States.
Canada’s dollar-store king built his Dollarama chain into a powerhouse before selling 80% to Bain Capital in 2004 for $1 billion. The
chain continued to grow and now has 536 stores. Rossy’s grandfather Salim, a Lebanese-born peddler, opened a store in Montreal in
1910; Rossy grew up a five-and-dime disciple, owning 44 of them before opening a dollar store in 1992 at a landlord’s suggestion. It
was an immediate hit. Rossy is still CEO and head buyer; his specialty is finding items that sell for $10 elsewhere that he can knock
off and source directly from Asia to sell for $1. Dollarama will begin charging up to $2 for items in 2009.
When Bill Lede, founder of Leduc Construction, died in an industrial accident in 1980, his oldest son, Dave, became president and
general manager and, shortly after, his youngest son, Cliff, joined the senior management team. The brothers seem to have done
their old man proud. The business, which today is known as the Ledcor Group of Companies, has grown from a builder of roads and
pipelines in Alberta to an international conglomerate that employs roughly 5,000 people and provides construction services to a wide
range of industries from telecommunications to mining.
Werklund gave a $2.5-million contribution to the Telus World of Science, slated to open in Calgary in 2011. The money will go toward
the development of a learning and leadership centre. This past November, HAZCO Environmental Services, which belongs to
Werklund’s CCS Corp., was named Oilweek’s 2008 Supplier of the Year.
After Wesbild Holdings Ltd., the real estate arm of Khosrowshahi’s firm Inwest Investments Ltd., bought Predator Ridge golf resort
last year, the course played host to the Telus World Skins Game in June, featuring the likes of Greg Norman and Mike Weir. Homes
in Wesbild’s latest development, the Foothills, went up for sale in Coquitlam, B.C. earlier this year. Portions of the community are
constructed to Built Green standards, an industry program that promotes more environmentally conscious construction practices.
Despite the family’s success in the decidedly unglamorous roofing business, IKO Group’s owners are not content to simply maintain
the status quo. The company has projects on the go all over the world, including Syria, China, Scotland and Russia. To fulfil the
market’s changing needs, the company continues to pioneer new, more environmentally friendly roofing products, including a recently
launched energy-saving membrane that reflects heat.
Long known as Canada’s blueberry king, Bragg also owns a burgeoning cable business that is now overshadowing his Nova Scotia-
based Oxford Frozen Foods. Last year, Bragg Communications Inc. doubled the size of its cable operations when it bought Persona
Communications Corp., an Internet and telecom provider with more than 260,000 customers across the country. It then acquired
southern Ontario’s Bluewater TV Cable and Ex-Cen Cablevision in September. The firm also picked up 19 spectrum licences, mainly
in Atlantic Canada, for about $26 million during the federal government’s recent wireless auction, and announced plans to build a
The international fashion mogul was audited this year and went to court to battle a $16-million tax bill from the federal government.
Finnish-born Nygård said he shouldn’t have to pay because he is a resident of the Bahamas, but the feds claim, at least for the years
1995 and 1996, that Nygård was Canadian enough to pay taxes here. The designer’s business certainly is growing in Canada, with
eight massive Nygård Fashion “concept stores” opened in 2008 across the country. The 10,000- to 15,000-square-foot locations
include a café, online kiosk, travel agency, dry cleaner and tailors; two more concept stores are planned for the next year.
After retiring from Biovail Corp. last year amid investigations by the SEC and the OSC, the company’s founder and former CEO
remained its largest shareholder. He proceeded to launch an effort to install a new board of directors at the firm’s annual meeting in
June, but lost the proxy battle and later withdrew related legal action against both Biovail and current chairman Douglas Squires. In
regard to one of his other passions, Melnyk’s Senators Sports and Entertainment group backed a bid to bring a Major League Soccer
team to Ottawa. The bid included the $40-million expansion fee and plans for a $100-million stadium to house the team.
Belkorp Environmental Services Inc., the waste management arm of the family firm, made headlines in Vancouver last summer when
it announced an agreement to expand a landfill in Cache Creek, a village in B.C.’s interior that was scheduled to reach capacity and
shut down in 2010. Belkorp’s plan would keep the dumping ground open for another few decades and continue to take garbage from
Metro Vancouver that might have been shipped across the border to Washington. The expansion could stall the city’s push to come
up with alternatives to landfills, including waste incinerators.
The sole owner of investment company the Futura Corp. may keep a low profile, but he comes from a well-known family. He’s the
nephew of the late Herb Doman, who established B.C. forestry giant Doman Industries Ltd. in 1955. The younger Doman has pursued
his own path, however, starting with a small lumber company he founded at 18 that eventually morphed into Futura, which holds
significant stakes in a variety of building-materials companies. Doman prefers not to take an operational role in the companies in
which he invests, but he won’t sit back when he’s unhappy with management. He took on Tree Island Wire Income Fund this year with
a proxy contest (which ultimately failed) when he disapproved of the management’s expansion plans.
Eight members of the Moffat family, including Randall and his wife and their three children and spouses, are a part of the Moffat
Family Council. The council meets a few times each year and decides how and where to spend portions of the family’s $100-million
charitable fund that is administered by the Winnipeg Foundation. When the fund was established, the family decided to focus on
creating opportunities for disadvantaged families. It’s no wonder Randall made it onto the Top 50 list in his hometown newspaper’s
search for greatest Manitoban.
The retired software giant is slated to hit the silver screen next year in a Hollywood film starring Hilary Swank about the life of famed
pilot Amelia Earhart. The movie’s producers were interested in using one of the planes from Vintage Wings of Canada, the foundation
Potter founded to locate and maintain classic aircraft. The aviation enthusiast, in period costume, flew a vintage biplane for flight
sequences in the film.
Stroll is back on this year’s Rich 100 courtesy of solid growth in his top properties, Michael Kors and Michael Kors Canada. Stroll’s
name is synonymous with the sporting high life. Perhaps best known in fashion circles for backing then-little-known clothing designer
Tommy Hilfiger in the 1990s (together with partner Silas Chou), Stroll moved on from the label in 2002. Besides ownership stakes in
and licensing rights to Michael Kors properties, he also maintains a fleet of glamorous race cars — and is reported to control Circuit
Mont-Tremblant, a racetrack near the posh Quebec ski resort north of Montreal.
When Yum Restaurants International refused to renew a franchise licence for a KFC fast-food outlet operated by his Competitive
Foods Australia Pty. Ltd., Cowin publicly pushed the Australian government to re-examine franchising legislation. Under pressure from
Cowin, the Western Australian government did conduct an inquiry, but the Ontario-born restaurant millionaire said the results
ultimately failed to address his company’s concerns and will not change his licensing battle with Yum.
Four Seasons Hotels Inc., the hotel chain founded by Sharp, opened eight new hotels and resorts around the world this year, including
locations in Mumbai, Florence, Bora Bora and Seattle. In July, a groundbreaking ceremony for the $500-million Four Seasons Hotel
and Private Residences development in downtown Toronto had performers from Circus Orange plunge from cranes to pass engraved
shovels to Sharp and other execs involved. The price tags for condos in the residential portion of the two towers start at $1.9 million
and the penthouse is priced at $30 million. The project is slated for completion in late 2011.
Zoom Media, the out-of-home advertising firm owned by the family’s business, Telemedia Corp., is expanding. In March, Zoom
acquired New York–based InSite Advertising from Alloy Media and Marketing for an undisclosed price. Then, in September, it picked
up Pittsburgh-based ClubCom in a deal estimated at between $20 million and $30 million. That purchase is a massive expansion for
the ad firm into the realm of digital screens in locations such as fitness clubs and bowling centres.
Using a combination of celebrities, advertising and events, Aldo Group Inc. has made its brand synonymous with the fight against
AIDS. Now the company is tackling environmental issues using one of its most common tools: the shoebox. The shoe store chain’s
latest social campaign, Aldo Next Step, aims to reduce shopping bag use by 40% this year, and 70% by the end of 2009, with the help
of a shoebox designed with a handle. Both boxes and bags are made with recycled materials.
The Vancouver-based businessman has had so much success operating franchises that this year he became the first-ever Canadian
to be inducted into the International Franchise Association’s hall of fame. Currently, Charlwood owns the master franchise over all
Century 21 real estate locations across Canada, as well as the Uniglobe Travel and Centum mortgage broker franchises, which he
founded himself. In his free time, he reportedly runs the equivalent of a marathon a week.
When the founding president of Quebec cable company Vidéotron stepped down from the top job at the firm he started in 1964, he
set his sights on bigger, philanthropic goals. The Lucie and André Chagnon Foundation, which aims to prevent poverty and support
children, was Canada’s largest private charitable endeavour last year, with total assets nearing $1.4 billion. It comes as no surprise,
then, that HEC Montréal management school decided that it would grant Chagnon an honorary doctorate from the University of
Montréal earlier this year.
Markin, Canadian Natural Resources Ltd. chairman and a significant shareholder in the company, jumps onto the list this year for the
first time. That’s because prices for petroleum and natural gas — the principal commodities Canadian Natural Resources produces —
also jumped, to highs of US$147 a barrel and US$14/MMBtu, respectively, during the summer’s energy price spikes. The Calgary-
based company reported net earnings of $3.2 billion in the first nine months of 2008.
The Conservatory Group, a luxury condo developer owned by the Libfelds, focuses on the Toronto area, but its handiwork made its
way to America’s Deep South last March. That’s when the company sponsored a school trip for 35 children who cleared debris from
homes damaged by Hurricane Katrina in New Orleans. Organized by the Anne and Max Tanenbaum Community Hebrew Academy of
Toronto, the outing promoted the Jewish concept of Tikkun Olam, which means “repairing the world” in Hebrew.
It took a few years, but Robert and his wife, Darlene, finally sold their San Francisco Bay mansion. The sale price: a whopping US$65
million. According to The Wall Street Journal, the couple bought the home in 1995 for US$5.5 million and then sunk about US$32
million into renovations. The money from the sale could well come in handy, as Friedland has been hit pretty hard by the recent
market downturn, which really has taken the wind out of commodities. The diminished value of his stake in Ivanhoe Mines Ltd. and
Ivanhoe Energy Inc. has pushed him off of Canada’s list of billionaires. Things could change, however, when the Mongolian
government reports on proposed changes to the country’s Minerals Law in late November, which will affect Ivanhoe’s copper-gold
projects in that country.
Comrie famously abandoned a promising professional hockey career at age 19 to take care of his mother and enter the furniture
business. The result: the Brick, one of Canada’s largest furniture, appliance and electronics retailers, with more than 200 stores and
highly recognizable television advertisements. Comrie left just before spinning it off as an income trust in 2004, but honours have not
stopped coming. In 2007, the Governor General made him an officer of the Order of Canada. This year, the Retail Council of Canada
saluted him with a lifetime achievement award.
Wilson is the founder of Vancouver-based clothing manufacturer Lululemon Athletica. Famed for its super-stretchy yogawear (sold at
wallet-stretching prices), the company went public in both Canada and the U.S. last year. Its shares initially soared, landing Wilson on
the Rich 100, but in 2008 the stock has had a rockier run. Its price — which almost hit $50 in December 2007 — dropped to $14.60 on
Nov. 3, which pushed Wilson out of the billionaire’s club.
In January 2008, Leon’s Furniture Ltd. completed the acquisition of Appliance Canada Ltd., which operates under a separate division
and acts as a wholesale distributor of appliances to builders and apartment landlords. In August, the furniture chain was told by the
Office of the Information and Privacy Commissioner of Alberta that it can no longer collect driver’s licence and licence plate numbers
from customers who pick up their merchandise from stores in the province. Ho ho hold the intrusion of privacy.
Family-owned Minas Basin Pulp and Power was awarded the right to construct a tidal power research and demonstration facility in the
Bay of Fundy. It would allow the testing of in-stream turbine devices and would eventually connect and synchronize the outputs of all
tidal devices from the Bay of Fundy and transmit the energy to the Nova Scotia electrical grid. The company is now set up to sell and
trade carbon credits, and claims to be one of the first in the province to do so.
He left as quietly as he came. After a spectacularly lucrative and successful quartercentury at financial services giant Power Corp.,
Gratton announced his retirement as executive chairman in May. In his various senior executive roles at subsidiaries such as
Montreal Trust and Power Financial, he presided over remarkable growth and accumulated a massive fortune, all the while managing
to keep himself out of the media glare. The secret to his astounding wealth: holding on to Power shares. He remains deputy chairman.
After Lau sold his ATI Technologies Inc. to California-based Advanced Micro Devices Inc. in 2006, the hope was that the merger
would allow AMD to regain ground lost to giant Intel Corp. This October, in another attempt to better compete with Intel, AMD
announced it was splitting its semiconductor manufacturing operations into a new entity called the Foundry Co. Abu Dhabi-based
Advanced Technology Investment Co. will pay US$2.1 billion for a stake in Foundry.K91
Clinging to the 100th spot on our list, you’d think the Molson beer dynasty had a tough year. Yet 2008 largely proved an ongoing
vindication of previously unpopular choices. The 2004 decision to merge their storied brewery with Coors continues to pay dividends.
Their latest gambit: a joint venture between Molson Coors Brewing Co. and SABMiller PLC, another Yankee beer giant, that began
operating last summer with nearly one-third of the U.S. beer market. That, too, has garnered praise for early strong performance.
MillerCoors must now duke it out with Anheuser-Busch InBev, the current market leader, for suds supremacy.