Aug. 8, 2019

Canada's multi-billionaires, and how you are contributing to them

0808 - It’s always interesting to know how the other half lives, those who never have to worry about the next mortgage payment, have all the money and own just about everything in our daily lives. These people control not only our every-day lives, but in effect control how our country is governed, regardless of which party is temporarily and nominally in power at any one point.

And to think I played a role in the fortune of the richest man in Canada, David Thomson, from the early days when I worked for Thomson Newspapers. He’s listed at $46.3 billion – 27thrichest in the world.

Second richest on the list is Joseph Tsai of Alibaba Group with $13.3 billion, a retail operation similar to Amazon.

If you buy groceries you’ve helped Galen Weston become the third-richest person in Canada at $11.3 billion. He’s got his hand in Weston Foods. If that wasn’t enough of an income stream, Weston also heads up luxury goods retailers Holt Renfrew of Canada, Selfridges of the UK, Brown Thomas of Ireland, the De Bijenkorf department store chain in the Netherlands and the Ogilvy department store in Montreal. You know Weston Foods, the company that recently got millions from the federal government to replace refrigerations systems in their grocery stores.

Lovemoney.com has published a top-wo list of tycoons and what they control. It makes for interesting reading – https://www.lovemoney.com/gallerylist/64855/the-45-richest-canadians-and-how-they-made-their-fortunes

COMMENT - Editor@nanaimonet.com