Canada’s wealthiest individuals continue to amass extraordinary fortunes, according to the latest January 2025 data pulled from Forbes’ Real-Time Billionaires list. While high-profile names like Elon Musk and Jeff Bezos dominate the global rankings, Canadians are making their mark, with a few prominent personalities regularly appearing among the world’s wealthiest.
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The Thomson Family: Canada’s Richest
At the top of Canada’s wealthiest list is the Thomson family, whose media empire, Thomson-Reuters, continues to thrive globally. With a net worth of $68.6 billion USD, the family sits comfortably among the world’s richest, ranking 22nd on Forbes’ list. In Canadian dollars, that fortune translates to a staggering $98.7 billion.
The Thomson family’s wealth has grown significantly in recent years, with an increase of $14.25 billion USD in just the first three quarters of 2024. This continued expansion solidifies their place as Canada’s wealthiest family.
The Thomson Family’s Expanding Empire
Headquartered in Toronto, Thomson-Reuters employs over 25,000 people worldwide and is a leading player in global media. The family’s wealth extends beyond this flagship company through their holding company, Woodbridge.
Woodbridge has stakes in several other prominent Canadian businesses, including The Globe and Mail and the NHL’s Montreal Canadiens. Additionally, David Thomson, 3rd Baron Thomson of Fleet, also owns a co-controlling interest in the NHL’s Winnipeg Jets, further diversifying the family’s wealth.
In addition to their media and sports investments, the Thomsons hold a stake in BCE Inc., which owns Bell Canada, one of the largest telecom and media conglomerates in the country.
Growth of the Thomson Fortune
The Thomson family’s fortune has steadily increased over the past few years. As of January 2024, their net worth stood at $60.4 billion USD ($83.9 billion CAD), rising to $67.8 billion USD by April and hitting $71 billion USD by May before settling at its current value of $68.6 billion USD. In the past year alone, their wealth grew by $8.6 billion USD ($12.37 billion CAD).
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Changpeng Zhao: Canada’s Richest Individual
While the Thomsons lead the wealth rankings for Canadian families, the title of Canada’s richest individual remains with Changpeng Zhao, the 48-year-old CEO of Binance and a major player in the cryptocurrency world. Zhao, a Chinese-born Canadian businessman, ranks 24th on Forbes’ global list with a net worth of $65.7 billion USD, which translates to $94.5 billion CAD.
Despite facing legal challenges, including a prison sentence in the U.S., Zhao has seen his wealth continue to rise. His ability to grow his fortune amid these difficulties further highlights his remarkable business acumen and position as one of Canada’s most influential figures in tech and finance.
The Rise of Canada’s Billionaires
The late 2024 Maclean’s report on Canada’s wealthiest individuals highlighted that while the majority of Canada’s wealth is concentrated among a few at the top, the locations where these billionaires reside have shifted. As the wealth gap continues to widen, the presence of Canadian billionaires on global lists, like those from the Thomson family and Changpeng Zhao, underscores Canada’s growing prominence in the world of high-net-worth individuals.
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