It’s no secret that we live in a material world where many people have a five or six-digit income. In fact, the world has recently witnessed some of the largest exchanges of personal wealth ever.
Are you wondering who the wealthiest person in Canada is? If so, you’ve come to the right place.
Keep reading and find out!
Who Is the Richest Person in Canada?
According to the latest data, David Thomson is the richest man in Canada. Thomson is a Canadian hereditary peer and a media magnate. His current net worth is over $47 billion!
Rich Canadians: Stats and Facts
Now that we’ve answered the big question, let’s look at some other data to get an even clearer picture of just who Canada’s wealthiest people are.
In 2019, the median net worth for people between 35 and 44 was $234,400.
Analyzing the data further, we can see that people aged 65 and up had a median net worth of $543,000. The same year, the highest median net worth was assigned to the residents between 55 and 64, amounting to $690,000.
Ontario had a median net worth of $434,500 in 2019.
According to statistics regarding the wealthiest people in Canada, the province with the highest median net worth is Ontario. Ranking second was British Columbia with $423,000, and the third-highest was Saskatchewan with $330,500.
There were 1,681,969 millionaires in Canada at the end of 2020.
To be considered a “millionaire,” your net worth (what you own minus what you owe) needs to amount to $1 million.
Unfortunately, the most recent data regarding the wealthiest taxpayers in Canada dates back to 2018. Furthermore, data from the same year reveals that to be among the top 1% of rich Canadians, you needed to have an income of about $496,200.
Justin Trudeau’s net worth is estimated to be around $12.7 million.
(Celebrity Net Worth)
Moreover, according to data, his base salary is around $178,900 as a member of the Parliament for Papineau. In addition to that, he earns another $178,900 for being the Prime Minister of Canada. In total, his salary is estimated to be around $357,800.
According to census data, there were 53 Canadian billionaires in 2021.
Not only that, but according to a global Wealth-X Billionaire census from 2021, there were 3,204 billionaires worldwide. This figure revealed a 13% increase compared to previous data. However, Canada’s growth was even higher, at 15%.
In 2021, the country with the most billionaires was the US.
To be more specific, according to Forbes, the US had a record-high 724 billionaires in 2021. China was close behind, with a total of 626 billionaires. Followed by India (140) and Germany (136).
Plus, globally, there we 2,755 billionaires, which was a staggering 660 more than in 2020.
Now you know who the wealthiest person in Canada is!
Plus, now you can see that according to the stats and facts above, not even the pandemic and subsequent lockdowns slowed the growth of global or Canadian billionaires. If you enjoyed this article or have anything to add, please let us know in the comments below.