5 Richest Canadians 2010

Canadian Business reports the five richest Canadians are:

1. Thomson Family
Net worth: 25.35 billion | Up 4% | Location: Toronto | 06 rank: 1
In 1934, Roy Thomson bought his first Canadian newspaper, the Timmins Press in Ontario, and he didn’t stop there. Four years after his death in 1976, Thomson Newspapers’ total daily circulation in Canada had passed one million. Two generations later, the family’s media presence is set to expand again. In May, Reuters agreed to be taken over by Thomson Corp. (TSX: TOC) for $17.6 billion. The combined company, Thomson-Reuters, will unite two of the leading financial information data providers.

2. Edward (Ted) Rogers Jr.
Net worth: $7.6 billion | Up 67% | Location: Toronto | 06 rank: 4
The president and CEO of Rogers Communications Inc. (TSX: RCI.B)focused on the company’s growth in 2007, guarding its market share carefully. In April, Rogers took issue with Quebecor Media Inc., which argued that new market entrants should have advantages in auctions for wireless frequencies. In the first three quarters of 2007, Rogers’ net income was up more than 50% from last year. (See “It was a very good year…,” page 56.)

3. Galen Weston
Net worth: $7.27 billion | Up 2% | Location: Toronto | 06 rank: 2
As his son revamps Loblaw Cos. Ltd. (TSX: L), the country’s largest grocery chain, the president and chairman of parent company George Weston Ltd. (TSX: WN) has seen falling profits reflecting the high restructuring costs. But while earnings were down in the first and second quarters of 2007, the company’s sales edged up slightly.

4. Paul Desmarais Sr.
Net worth: $5.64 billion | Up 28% | Location: Montreal | 06 rank: 5
The Power Corp. (TSX: POW) patriarch and his family were put at the centre of the world’s third-largest power utility in September with the merger of Suez SA and Gaz de France SA. The power play was helped along by loud support from Albert Frère, the family’s European partner and vice-chairman of Suez, and French President Nicolas Sarkozy. The new company, GDF Suez, counts Groupe Bruxelles Lambert — an investment company controlled by the Desmarais and Frère families — among its top shareholders

5. James (J. K.), Arthur, John (Jack) Irving
Net worth: $5.3 billion | Up 3% | Location: Saint John, N.B. | 06 rank: 3
The autumn court battle between the Irving family’s Brunswick News and its former employee William Kenneth Langdon, ex-publisher of the Woodstock Bugle-Observer, has prompted politicians to call for an examination into the Irvings’ New Brunswick media empire. Brunswick News owns all the dailies and most weeklies in the province and in October effectively attempted — but failed — to quash Langdon’s efforts to start competitor Carleton Free Press. Due to a succession impasse, the family is reportedly moving to break up its 125-year-old empire, consisting of forestry, retail, trucking, media and energy properties.

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