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Summary

These are Ontario's 14 richest people right now and how they made their mega fortunes

That's a whole lot of dough.💰

Tobias Lütke with Barack Obama. Right: Mark Scheinberg with J Balvin.

Ontario continues to dominate Canada's rich list.

Writer

As the home of Toronto — Canada's most populous city and financial hub — and the nation's capital, Ottawa, it's no surprise that Ontario also houses some of the richest people in the world.

The Forbes real-time billionaires list tracks the net worth of the world's richest people daily, and several familiar names either hail from Ontario or have amassed their fortunes here.

A standout on the list is The Woodbridge Company, a Toronto-based holding firm for the Thomson family. Six billionaire heirs have stakes in the company, which controls more than 310 million shares of Thomson Reuters — highlighting just how influential the family is.

So, who else made the list? Here are the 14 wealthiest people in Ontario right now and where they stand on the global wealth scale.

Sherry Brydson

Net worth: US$18 billion

Ranking: 2nd (Canada), 119th (global)

Sherry Brydson is the wealthiest individual in the province of Ontario.

The 79-year-old is the largest shareholder in Woodbridge, with a reported 23% stake.

Brydson is the granddaughter of the 1st Baron Thomson of Fleet, Roy Thomson, who founded the Thomson family's media empire.

Taylor, Peter & David Thomson

Siblings Taylor, Peter and David Thomson all own stakes in Woodbridge and are among the wealthiest individuals in Ontario. They're the children of the 2nd Baron Thomson of Fleet, Kenneth Thomson, and first cousins of Sherry Brydson.

Taylor Thomson

Net worth: US$11 billion

Ranking: 6th (Canada), 241st (global)

The billionaire heiress has a reported 14% stake in Woodbridge.

Thomson, who was born with the name Lynne before changing it to Taylor, is also a former actress.

In the early 2000s, she made headlines for suing Christie's auction house after purchasing a pair of urns believed to be by Ennemond-Alexandre Petitot, circa 1760, which were later revealed to be fakes.

Peter Thomson

Net worth: US$11 billion

Ranking: 7th (Canada), 242nd (global)

Peter Thomson is the co-chairman of The Woodbridge Company and reportedly holds a 14% stake in the firm.

He's also the chairman and co-founder of Thomvest, a venture capital firm.

Beyond the boardroom, Thomson has a serious passion for motorsports. He owns Thomson Motor Sport, a rally racing team, and has enjoyed a successful driving career himself, winning several titles over the years.

David Thomson

Net worth: US$11 billion

Ranking: 8th (Canada), 243rd (global)

David Thomson, the 3rd Baron Thomson of Fleet, inherited his title following his father's death in 2006.

He serves as co-chairman of The Woodbridge Company and reportedly holds a 14% stake in the firm.

Thomson also owns Osmington Capital Partners, an investment company with holdings in several businesses — including a stake in the NHL's Winnipeg Jets through a partnership with True North Sports + Entertainment.

Tobias Lütke

Net worth: US$9 billion

Ranking: 9th (Canada), 339th (global)

Originally from Germany, Tobias Lütke is the CEO and co-founder of Shopify, the Ottawa-based e-commerce giant.

Outside of the tech world, Lütke is also a racing car driver, competing in the IMSA SportsCar Championship in the LMP2 class.

Linda Campbell & Gaye Farncombe

Sisters Linda Campbell and Gaye Farncombe each hold an 11% stake in The Woodbridge Company.

They're cousins of Sherry Brydson and the Thomson family.

Linda Campbell

Net worth: US$8.6 billion

Ranking: 10th (Canada), 361st (global)

Gaye Farncombe

Net worth: US$8.6 billion

Ranking: 11th (Canada), 361st (global)

Stuart Hoegner

Net worth: US$6.2 billion

Ranking: 15th (Canada), 568th (global)

He owns a reported 13% stake in Tether, the world's largest cryptocurrency stablecoins issuer.

Stuart Hoegner, a Toronto-based lawyer and accountant, serves as general counsel for Tether and its sister company, Bitfinex.

He also reportedly owns a 13% stake in Tether, the world’s largest issuer of cryptocurrency stablecoins.

According to Forbes, Tether pulled in an impressive US$6.2 billion in profit in 2023.

Peter Gilgan

Net worth: US$6.1 billion

Ranking: 17th (Canada), 568th (global)

Peter Gilgan is the founder and CEO of Mattamy Asset Management Inc.

He launched the company in 1978, naming it after his two oldest children, Matt and Amy. Since then, Gilgan has built more than 135,000 homes through Mattamy Homes, according to Forbes.

Beyond real estate, Gilgan is also known for his philanthropy — most notably donating $100 million to SickKids in 2019.

Mark Scheinberg

Net worth: US$6 billion

Ranking: 18th (Canada), 588th (global)

Mark Scheinberg is an Israeli-Canadian businessman and investor best known for co-founding PokerStars with his father, Isai, in 2001.

The Scheinbergs sold the company to Amaya Gaming for $4.9 billion in 2014. At the time, Mark owned 75% of the parent company, Rational Group, earning him more than$3 billion from the sale.

In 2017, he launched Mohari Hospitality, an investment firm focused on luxury properties. In 2023, Mohari acquired Tao Group Hospitality for $550 million.

Stephen Smith

Net worth: US$6 billion

Ranking: 19th (Canada), 589th (global)

Stephen Smith is the executive chairman and co-founder of First National Financial Corporation.

Smith established the company in 1988 before taking it public in 2006.

He has donated over $100 million to Queen's University in Kingston, Ontario. The university's business school is named the Smith School of Business at Queen's University.

In 2023, he acquired lender Home Trust for over $1.2 billion and merged it with Fairstone Bank of Canada in early 2025.

Mark Leonard & family

Net worth: US$5.4 billion

Ranking: 23rd (Canada), 696th (global)

Mark Leonard is the president of Constellation Software (CSI), a Canadian tech firm he founded in 1995.

He and his family reportedly own about 7% of the company, which is publicly traded on the Toronto Stock Exchange.

Carlo Fidani

Net worth: US$4.5 billion

Ranking: 27th (Canada), 840th (global)

Carlo Fidani is the chairman of Orlando Corporation, a real estate company based in Mississauga.

He took over the business in 2000 after the death of his father. The company traces its roots back to 1948, when it was founded by Fidani's grandfather as Fidani and Sons.

Fidani is also known for his philanthropy. In 2017, he was named to the Order of Canada for his contributions to medical research and service to the country.

Michael Latifi

Net worth: US$3.5 billion

Ranking: 31st (Canada), 1,086th (global)

Michael Latifi is the founder and owner of Sofina Foods, a major Canadian food manufacturer headquartered in Markham, Ontario.

Born in Iran, Latifi immigrated to Canada as a teenager and got his start working at McDonald's. Today, his company owns well-known brands like Lilydale, Mastro, and Janes, and employs more than 13,000 people globally.

In 2018, Latifi purchased a 10% stake in McLaren’s Formula One team for approximately $270 million. He’s also the father of former Williams Racing F1 driver Nicholas Latifi.

Ranking results are based on data collected on May 27, 2025, and are subject to change.

  • Originally from Ireland, Tomás Keating was a Toronto-based Writer for Narcity. After graduating with a Masters in Journalism from the University of Galway in 2019, Tomás utilized his passion for news, current affairs, pop culture and sports as a digital journalist before relocating to Toronto in 2024. In his spare time, Tomás loves exploring the city, going to the cinema and playing Gaelic football with his local GAA club in Toronto.

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