Canada's richest people in 2024 were revealed and here's how they made their billions

Zekelman Family

Net worth: $9.1B

How they made their billions: Barry Zekelman and his brothers grew their father's small Windsor-based steel company, Atlas Tube, into Zekelman Industries, a multinational leader in steel pipes and modular construction. Though now based in the U.S., Zekelman Industries recently acquired a stake in Algoma Steel in Sault Ste. Marie, underscoring the family's continued ties to Canada.

Barry, who also owns a home near Windsor, has a 282-foot yacht he purchased from Steven Spielberg and renamed "Man of Steel."

Tobias Lütke

Net worth: $9.38B

How he made his billions: Shopify founder Tobias Lütke revolutionized e-commerce with a platform that enables millions of businesses to sell online. Initially built to sell snowboards, Shopify quickly expanded, attracting clients from Gymshark to Mattel. The platform's popularity skyrocketed during the pandemic, when online shopping surged.

Lütke, who moved from Ottawa to Toronto in 2023, takes a symbolic $1 salary but receives substantial stock-based compensation.

Apostolopoulos Family

Net worth: $9.4B

How they made their billions: The Ontario-based Greek-Canadian Apostolopoulos brothers Steve, Peter and Jim control a significant real estate and entertainment portfolio through Triple Group of Companies. Their holdings include Durham Live, a large entertainment complex in Pickering, Ontario, and TriBro Studios in Toronto. Recently, Steve Apostolopoulos made headlines with bold bids for major sports franchises, including the NFL's Washington Commanders and the NHL's Ottawa Senators, although neither were successful.

Richardson Family

Net worth: $9.43B

How they made their billions: The Richardson family, headquartered in Winnipeg, built their fortune in agriculture, energy and financial services. James Richardson & Sons Ltd., the family's primary company, controls a large share of Canada's grain exports through Richardson International and is expanding into wealth management through Richardson Wealth.

With roots that predate Canada's founding, the family's influence spans generations, and younger family members are now stepping into leadership roles.

Alain Bouchard

Net worth: $9.62B

How he made his billions: Bouchard earned the title "King of Convenience" by transforming Alimentation Couche-Tard from a single convenience store into a global retail giant. Now with over 16,000 stores across multiple countries, Couche-Tard includes brands like Circle K and Mac's.

Bouchard, who still serves as executive chair, has ambitious plans for the company's future, including a potential acquisition of its main competitor, 7-Eleven, further expanding his reach in the convenience store sector.

Desmarais Family

Net worth: $9.96B

How they made their billions: Paul Desmarais Sr. established Power Corporation of Canada, a Montreal-based financial services giant that has remained under family control. Now led by his sons and grandsons, the family continues to expand into new areas, including fintech with investments in Wealthsimple. Power Corporation also has significant interests in asset management, insurance and energy, making the Desmarais family one of Canada's most influential financial dynasties.

Jim Pattison

Net worth: $10.05B

How he made his billions: Starting with a single GM dealership in Vancouver, Jim Pattison built a business empire spanning auto dealerships, grocery stores, media, advertising and entertainment. The Jim Pattison Group, one of Canada's largest private companies, brings in over $16 billion in annual revenue.

Known for his philanthropy, Pattison donates a significant portion of his income each year and has pledged to give away half of his fortune to charity, solidifying his legacy beyond his business accomplishments.

Joseph Tsai

Net worth: $11.73B

How he made his billions: Joseph Tsai co-founded Alibaba, China's massive e-commerce and technology conglomerate, where he still holds a significant stake. Currently serving as chair, Tsai has been steering Alibaba through regulatory challenges in China, impacting its market value. His portfolio also includes ownership in BSE Global, which owns the Brooklyn Nets, and a recent acquisition of a Manhattan penthouse, making him an influential figure in both e-commerce and high-profile sports ownership.

Rogers Family

Net worth: $12.47B

How they made their billions: The Rogers family's telecom giant, Rogers Communications, started with a single Toronto radio station. Today, the company holds stakes in the Toronto Blue Jays and Maple Leaf Sports & Entertainment, not to mention controls Canada's largest wireless network.

Although Rogers Communications has faced internal power struggles, Edward Rogers III, son of the late Ted Rogers, currently leads the family trust, ensuring the company remains under family control.

David Cheriton

Net worth: $12.64B

How he made his billions: Originally from Vancouver, Cheriton built his fortune through early investments in Google and other Silicon Valley tech companies. A computer science professor at Stanford, his insight led him to support Google's founders, a move that netted him massive returns. He later co-founded Arista Networks, a prominent data center networking company.

Cheriton has continued to back tech ventures and now serves as the chief data centre scientist at Juniper Networks, making him a unique mix of academic and billionaire investor.

McCain Family

Net worth: $13.16B

How they made their billions: Over six decades ago, four brothers transformed a small potato-processing operation into McCain Foods, one of the world's largest frozen food companies. Starting in Florenceville, New Brunswick, the business rapidly expanded under the leadership of co-CEOs Harrison and Wallace McCain, introducing frozen fries and other products to global markets.

Today, McCain Foods generates billions in revenue and remains a staple in the frozen food aisle. The family also maintains ties to Maple Leaf Foods, adding another layer to their Canadian food industry influence.

Irving Family

Net worth: $14.47B

How they made their billions: This New Brunswick dynasty's vast business interests include oil, forestry, media, real estate, and transportation. Irving Oil, Canada's largest oil refinery, remains central to the family's holdings, though recent changes in leadership hint at possible shifts within the dynasty.

Although the family patriarchs have passed, the Irving legacy continues through the next generation, who manage the various divisions of the family's vast conglomerate.

Galen Weston Jr.

Net worth: $18.05B

How he made his billions: Arguably the biggest household name on this list, Weston is best known for his grocery store empire. He's become a well-known face through his appearances in advertisements for Loblaw's President's Choice brand, but his influence extends far beyond.

Weston controls George Weston Ltd., which owns Loblaw and its associated grocery brands like No Frills and Provigo. Additionally, through Choice Properties REIT, the Weston family has a hand in commercial real estate across Canada, including over 700 retail and industrial properties, making Loblaw both a major retailer and landlord.

Changpeng Zhao

Net worth: $61.02B

How he made his billions: The richest individual in Canada, known commonly as CZ, founded Binance in 2017, rapidly scaling it into the world's largest cryptocurrency exchange by trading volume. Zhao, a computer science graduate from McGill University, owns a significant portion of Binance and its proprietary token, BNB, one of the most valuable crypto coins globally.

Despite recent legal controversies, including a substantial fine and ongoing regulatory scrutiny, Zhao remains a key figure in crypto, holding a large stake in the company and BNB, according to Maclean's.

Thomson Family

Net worth: $98.15B

How they made their billions: Finally, the richest family in Canada is the Thomson family, whose empire began with the late Roy Thomson's small newspaper business and evolved into a global media conglomerate. Today, Thomson Reuters is a leader in data and information services, with a strong presence in the finance, legal and news sectors.

David Thomson, now the head of the Toronto-based family, also oversees a diverse portfolio that includes stakes in media outlets like The Globe and Mail and minority holdings in Canadian sports franchises such as the Winnipeg Jets and Montreal Canadiens. Cousin Sherry Brydson has her own investments in various industries, including aviation through De Havilland Aircraft of Canada, as well as Toronto’s Elmwood Spa. The family's art collection, including works by the Group of Seven and other notable artists, has become part of Canada's cultural heritage.