Canada’s Richest People: The Rogers Family

 
Canada’s Richest People
Rogers Family
(Photo by George Pimentel/WireImage)

Rogers Family

Net Worth:
$11.57 billion
(▲26.9% from 2017)

Rich 100 rank: #4
Change in rank from 2017: No change
Major company holdings: Rogers Communications
Location: Toronto


Former Telus top man Joe Natale officially took over as CEO of Rogers Communications Inc. this year, signaling a return to stable leadership for the company after former CEO Guy Laurence was axed last fall. The firm (which owns Canadian Business) has made a number of major moves leading up to and since then, including shutting down video service Shomi, paring down their print magazine portfolio and shaking up their management structure. So far, the changes seem to be serving the company well. In the latter months of 2017, the company’s stock climbed 7.8% as the industry stagnated at 0.8%. While their namesake company—over which they exert considerable control, thanks to a two-tiered share structure—remains the foundation of the family fortune, the Rogers clan have also moved into real estate. Last September, Edward Rogers revealed plans for a $1.5-billion 10-tower condo project on land in Mississauga, Ont., originally purchased for a radio transmitter in the 1960s at the cost of $170,000.

Ted Rogers’s first gambit in the media business was buying control of Toronto radio station CHFI in 1960. His company later expanded into cable TV and then wired telephony, followed by the now-key wireless division. The firm also owns a considerable portfolio of sports assets, including the Toronto Blue Jays and a chunk of Maple Leaf Sports & Entertainment, which owns the city’s NHL, NBA and MLS teams.

Updated Thursday, November 9, 2017



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