Canada’s Richest People: The Molson family

 
Canada’s Richest People
Molson family
(Photo: Graham Hughes/CP)

Molson family

Net Worth:
$1.75 billion
(▼10.3% from 2017)

Rich 100 rank: #64
Change in rank from 2017: ▼7
Major company holdings: Molson Coors Brewing
Location: Montreal


The Molsons have been able to maintain a powerful position in the beer industry over seven generations. That’s no easy feat, especially given that booze conglomerates have been buying one another out in recent years, which usually dilutes ownership. Molson Coors Brewing Co. (itself a result of the 2005 merger between Molson and Coors) is spending US$12 billion to purchase full control of the MillerCoors joint venture, which includes global rights to the Miller brand name. In touting the deal last year, the company said more U.S. and European craft and mainstream brands could find their way onto Canadian shelves, while domestic brands such as Creemore could be exported.

The Molson family legacy extends beyond the brewery John Molson founded along the St. Lawrence River in 1786. He also created Canada’s first steamship and funded the first Canadian railway. His successors are still involved in the eponymous brewery: Geoff Molson serves as chairman of the board directors at Molson Coors, while his brother Andrew is also a board member.

Both are active outside the company, too. Geoff is president and CEO of the Montreal Canadiens hockey team. Andrew, meanwhile, is the chairman of Res Publica Consulting Group, which owns National Public Relations and other communications firms.

Updated Thursday, November 9, 2017



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