Economy and Finance

Canada's rich list reveals Vancouver's most moneyed

Thu Nov 22, 2012 11:00am PST

Canadian Business magazine released its 14th annual Rich 100 list this morning, outlining the 100 most affluent Canadians, and found their collective net worth exceeded $200 billion.

The list found 69 of the 100 most well-to-do canucks were billionaires.

The most affluent Canadians: the Thomson Family, of Thomson Reuters and Woodbridge Co. Ltd, Toronto, with a net worth of $20.1 billion, which is a decrease of 5.7% from last year.

But who among the richest Canadians are from Vancouver? The top five are:

1. With an overall rank of number 5 on the top 100 list: Jimmy Pattison of the Jim Pattison Group, who has a net worth of $6.14 billion, a 7.09% increase from last year. Pattison started his first Pontiac Buick dealership in Vancouver over 50 years ago for which he paid $40,000. He has since expanded across the country and his mix of interests include businesses in radio and TV broadcasting, billboards and magazine distribution.

2. Number 10 on the list, and one of only two Vancouverites to break the top 10: Chip Wilson of Lululemon Athletica Inc., with a net worth of $3.51 billion, an increase of 23.05%. He started the yogawear retailer in 1998 and today remains chairman.

3. Number 24 on the list the Lalji family of Larco Investments Ltd. with a net worth $2.25 billion, an increase of 9.7% compared with last year. These real estate developers came to Canada after being banished from Uganda by dictator Idi Amin in the 1970s. They own federal government buildings and their company holdings manage several high-end Marriot hotels.

4. Number 26 on the list: Bob Gaglardi of Northland Properties Ltd., worth $2.08 billion, an increase of 30% from last year; and

5. Number 67 on the list: the Chan family, Burrard International Holdings Inc. Tom and Caleb Chan, brothers born in Hong Kong, together have a net worth of $1.03 billion, an increase of 4.8% from last year. They own a number of golf courses in B.C. and Hawaii and are possibly best known for funding the Chan Centre for the Performing Arts at UBC.

The wealthiest Canadians can be found in Ontario, with those making the list possessing a net worth of $86.75 billion.


Tags: Chip Wilson, Jimmy Pattison, Jim Pattison Group, Larco Investments Ltd., Lululemon Athletica Inc., investments, real estate, retail, Jim Pattison

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