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The rich 100: 2007 · 2006 · 2005 · 2004 · 2003 · 2002 · 2001
The rich list · Who's #1 · Feature articles · Personal space · At their service · Slideshow · Methodology
1. Thomson family: $24.41 billion
The family lost patriarch Ken Thomson in June, at the age of 82, leaving it to eldest son David, chairman of Thomson Corp. for only four years, to carry on the business. So far the stock price of Thomson Corp. has remained relatively unchanged since Ken's death. Also, the $1.7-billion offer from Bell Globemedia, in which the family recently increased its ownership stake to 40%, to purchase CHUM Ltd., will further expand the Thomson media empire.
2. Galen Weston: $7.1 billion
The elder Weston put his 33-year-old son, Galen G., in charge of Loblaw Cos. Ltd. in September, giving him the title of executive chairman. The surprise move coincided with the departure of longtime company man and former president John Lederer, leaving analysts questioning Galen G.'s ability to run the company at a time when, given Wal-Mart's aggressive entry into the grocery market, competition is fiercer than ever.
3. James (J. K.), Arthur and John (Jack) Irving: $5.45 billion
In addition to building a $750-million liquefied natural gas plant, Irving Oil Ltd. is considering a second oil refinery in New Brunswick. The proposed refinery could cost up to $7 billion and generate 300,000 barrels a day, but the privately held company won't make a final decision until next year.
4. Edward (Ted) Rogers Jr.: $4.54 billion
Rogers Communications Inc. may have more than doubled its dividend and tripled its Q3 net income this year, but the Toronto-based company still may have something to learn about the importance of grammar. A single comma in a multimillion-dollar contract with Aliant Inc. (now Bell Aliant Regional Communications Income Fund) is causing a lot of legal headaches. According to Aliant, the wording of a particular sentence allows it to exit the deal at any time; Rogers disagrees. The Canadian Radio-television and Telecommunications Commission sided with Aliant, but Rogers has now produced a French version of the contract — without the troublesome comma — and the matter is before the CRTC once again.
5. Paul Desmarais Sr.: $4.41 billion
The 79-year-old patriarch of one of Canada's most politically connected families has been on a roll lately. In mid-November, Power Financial Corp. announced that Q3 earnings had more than doubled from a year ago, thanks in part to the $356-million sale of its stake in Bertelsmann AG, Europe's largest media company, in July.
6. James (Jimmy) Pattison: $4.35 billion
As a teenager, Pattison worked at a hotel. In April, the 78-year-old entrepreneur opened one of his own: the Great Wolf Lodge resort and water park in Niagara Falls, Ont. Plans for the $100-million aquarium next door, meanwhile, have been put on hold while his tourist attraction company, Ripley Entertainment Inc., waits to assess the impact of new passport requirements for U.S. visitors starting in 2008.
7. Jeff Skoll: $3.93 billion
After bringing in more than US$170 million and 11 Oscar nominations with his Participant Productions' 2005 releases, the Montreal-born billionaire continued to put his money into environmental and socially aware organizations in 2006. Skoll invested in manufacturers of solar panels, water-free urinals and electric cars. He also awarded more than $25 million to various non-profit groups through his philanthropic foundation.
8. Bernard (Barry) Sherman: $3.23 billion
The Apotex legal team has seen a lot of action lately as the company is embroiled in two major lawsuits. Apotex is contesting the patent on blood thinner Plavix, arguing it should be allowed to distribute a generic version. The company managed to ship six months' worth of the drug before a U.S. judge ordered it to cease sales in August. In the second lawsuit, Apotex is suing U.S. regulators to prevent rivals from gaining rights to nausea drug Zofran.
9. David Azrieli: $2.44 billion
The man who brought the first shopping mall to Israel shows no signs of slowing down at age 84. This year, Azrieli gained control of Granite Hacarmel, an Israeli energy and engineering company, for approximately US$150 million. He'll also finance a major portion of a $2-million restoration of an historic public square in downtown Jerusalem.
10. Fred and Ron Mannix: $2.38 billion
Known in military circles as the Godfather of the Calgary Highlanders, Fred Mannix made three rare public appearances this year: in June, when he received an honorary doctorate from the University of Calgary, and in October, when he received an award from the Canadian Armed Forces and caught up with his younger brother, Ron, by being inducted into the Order of Canada.
11. Michael Lee-Chin: $2.18 billion
After losing more than $5.5 billion in assets over five years, AIC Ltd. lost its CEO of almost 20 years in October. Lee-Chin's resignation should give the Jamaica-born billionaire more time to focus on his company's Caribbean holdings, including a recently acquired 75% stake in Jamaica's largest auto insurer and a 51% interest in one of the island's leading media groups.
12. Saputo family: $2.15 billion
Lower cheese prices in the United States and a plant closure in Indiana may have hurt the Quebec-based food company this year, but it's still turning a profit. Saputo Inc. expanded its operations with two acquisitions in 2006: a cookie maker in Quebec and a German cheese manufacturer, which marks its first foray into the European market.
The rich 100: 2006 · 2005 · 2004 · 2003 · 2002 · 2001
The rich list · Who's #1 · Feature articles · Personal space · At their service · Slideshow · Methodology
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