The Thomson Family Is Canada‘s Richest With a Net Worth of Over $40 Billion
If you‘re looking for Canada‘s wealthiest clan, the Thomson family tops the list with an estimated net worth around $40 billion. They edge out other elite families like the Westons and Desmarais to claim the top spot as Canada‘s richest family.
The Thomsons owe their mammoth fortune predominantly to their long running control of Thomson Reuters, the financial data and media giant. The family‘s patriarch Roy Thomson started the company in the 1930s, which expanded into a multinational corporation under his son Kenneth Thomson‘s leadership.
Today, Thomson Reuters remains a key asset for the family along with their stakes in finance, real estate and energy companies. Current family chairman David Thomson and relatives hold a two-thirds controlling interest in the company, with their holdings alone worth over $20 billion.
To put this massive wealth into perspective, here is a snapshot of the estimated net worths of Canada‘s 10 richest families:
| Family Name | Net Worth (Billions) |
|---|---|
| Thomson | $40 |
| Weston | $13 |
| Rogers | $11.7 |
| Desmarais | $8.4 |
| Saputo | $7.7 |
| McCain | $7.6 |
| Sobey | $6.9 |
| Irving | $5.9 |
| Mannix | $5.2 |
| Reichmann | $5.1 |
The Thomsons stand in a league of their own, with nearly triple the assets of the Westons who rank second. But the Westons shouldn‘t feel too bad – their wealth from retailing still places them among the world‘s richest families.
The Desmarais family has accumulated over $8 billion through various business ventures, many spearheaded by Paul Desmarais Jr. and his Power Corp. The Rogers family holds key positions in telecom and media, led by patriarch Ted Rogers before his death. The Saputos built their fortune in the food and dairy industry, which remains their core holding today.
Contrasting Fortunes: The Public Thomsons vs. the Private Von Mandls
Unlike the Thomsons who regularly make headlines and billionaires rankings, the von Mandls tend to avoid the spotlight. Anthony von Mandl in particular keeps a very low profile despite helming a multibillion dollar beverage empire.
The Thomsons actively promote their charitable work like establishing the prestigious Thomson Reuters Foundation. David Thomson gets press attention for his art collecting and real estate holdings, including his status as Canada‘s largest farmland owner.
Meanwhile, you would be hard pressed to find many interviews with Anthony von Mandl. But his relatively under the radar approach should not distract from his business success.
Von Mandl Cornered the Market on Booze
Anthony von Mandl‘s path to extreme wealth began by capitalizing on his passion for wine. He founded Mission Hill Estate Winery in 1981, helping put Canadian vintages on the map. Von Mandl grew it into an internationally known wine brand before selling to Constellation Brands in 2015.
That established his fortune, but he earned even more wealth through Mark Anthony Group. Von Mandl started the company in the 1970s and still reigns as CEO today. Over the decades, he strategically acquired brands and expanded distribution reach.
Mark Anthony now sells 300+ alcohol brands in 100 countries worldwide. They boast an estimated $2 billion in annual sales across their Canadian, American and European operations. With the global alcoholic beverage market projected to grow, look for their fortune to keep rising.
Following in the Footsteps of Canada‘s Richest Families
Very few of us can realistically hope to gain a multibillion dollar windfall like the Thomsons and von Mandls enjoyed. But examining how Canada‘s wealthiest built their fortunes does provide lessons on growing your own net worth.
Building massive wealth often starts with entrepreneurship and seizing on new opportunities. Roy Thomson got his start acquiring local Canadian newspapers before embarking on huge UK newspaper purchases. Ted Rogers pioneered new technologies in radio and wireless.
Other keys for amassing higher wealth include making strategic investments, diversifying into multiple sectors, and handing down family businesses generation after generation. If you get really lucky like Anthony von Mandl, you might just corner the market on booze and wine too.
While becoming a billionaire remains a very tall order, everyday Canadians can still work towards building their own seven or eight figure fortunes. That starts with adopting good savings and investment habits, budgeting wisely, and looking for new career and business opportunities.
And if your stock portfolio ever starts approaching a billion or more, feel free to get in touch with the Thomsons or von Mandls for tips on joining the uppermost echelon of Canada‘s wealthiest elites. But for the rest of us, growing wealth steadily through diligence and patience may be a more realistic path to prosperity.