How Many Billionaires Are There in Canada?
Gain insight into Canada's ultra-wealthy population. Understand the scope of top-tier wealth and its context within the national economy.
The concentration of extreme wealth within national economies offers insights into economic structures and prosperity distribution. Tracking the population of billionaires provides a tangible measure of this phenomenon, reflecting the dynamics of financial markets and industrial growth.
Current Count of Canadian Billionaires
Canada is home to a notable number of billionaires. The most recent data from Forbes in April 2025 indicates there are 77 individuals holding this status, a slight increase from the 67 billionaires reported in April 2024. These numbers are subject to fluctuations based on global market conditions, asset valuations, and the methodologies employed by various wealth-tracking organizations. The collective net worth of Canada’s billionaires often totals hundreds of billions of U.S. dollars, underscoring the significant capital held by this group.
Key Figures and Their Industries
Among Canada’s wealthiest individuals, certain figures consistently appear due to their fortunes and industries. David Thomson and his family maintain a leading position, primarily through their media and information distribution empire, Thomson Reuters. Another prominent figure is Changpeng “CZ” Zhao, who amassed his wealth in the cryptocurrency sector as the founder of Binance. Although he resides outside Canada, he holds Canadian citizenship.
The technology sector has also produced significant wealth in Canada, exemplified by David Cheriton, an early investor in Google and a co-founder of Arista Networks. Joseph Tsai, a Canadian citizen born in Taiwan, is another key figure, known for his co-founding role in the e-commerce giant Alibaba Group. These individuals demonstrate the diverse pathways to wealth accumulation within the Canadian economy, spanning traditional media, cutting-edge technology, and global e-commerce.
Historical Trends in Canadian Billionaire Wealth
The number of billionaires in Canada has shown an upward trend in recent years. In 2020, for example, the country had approximately 41 billionaires. This number grew to 62 in 2023, then to 67 in 2024, and reached 77 by April 2025. The combined net worth of these individuals has also seen substantial growth, increasing from around US$245 billion in 2023 to over US$314 billion in 2024.
Canada’s Global Standing
In a global context, Canada consistently ranks among the top countries for its billionaire population. According to Forbes’ 2024 list, Canada held the eighth position worldwide in terms of the number of billionaires. While countries like the United States and China lead with higher counts, Canada’s top-tier presence demonstrates its ability to foster substantial wealth accumulation. This ranking provides a comparative perspective on Canada’s economic strength and its integration into the global financial landscape.