He has a net worth of $4.3 billion as of 2020. For many years, he and his family have been ranked among Canadas wealthiest billionaires. While millions of workers have no just cause protection and can be fired for no reason at alldisproportionately affecting racialized workersThomson could call his boss and miss work due to jet setting to Europe, all while safely climbing his familys corporate ladder and patiently waiting to take over from his father., Perhaps this young plutocrat was abroad hunting down a priceless piece of art. The family also holds a stake in telecom giant Bell Canada and own the Toronto-based Globe and Mail newspaper. Canada's Billionaires - Forbes Thomson, through spokesman for Thomson Reuters David Girardin, didn't respond to requests for comment. The recent passing of Queen Elizabeth prompted debate about inherited wealth and privilege. Source: Diversified Perhaps Thomson's philosophies about life can best be summed up by this quote taken from a 2006 New York Times interview: "When you try to live a more balanced life, traditional businessmen think that you are not a real man. David Thomson is the richest man in Canada, with a net worth of $25.5 billion as of 2020. The CEOWORLD magazine Quarterly Rich List 2020 has revealed Canada's wealthiest people. 2023 Layoff Tracker: Pokemon GO Maker Niantic Cuts 230 Jobs - Forbes David Thomson/thomsonreuters.com The Financial Post described him as being the "mysterious" and "reluctant" head of Canada's richest family. Loblaws is one of Canada's most recognizable brands, and it purchased Shoppers Drug Mart in a $12 . Kenneth Thomson, 2nd Baron Thomson of Fleet - Wikipedia But President Donald Trump's fortune sank during his first year in office despite a surging stock market. However, Thomson ended up selling both masterworks during the financial crisis in the 80s. Along with Andreas von Bechtolsheim also now a billionaire - Cheritron invested US$100,000 in Google and has since turned his six-figure investment into ten figures. We welcome all corrections and feedback using the button below. Presumed human remains and shattered Titanic submersible returned to Huang has been described as a self-made man and is known for his philanthropy, having donated millions of dollars to various causes. Jenny Craigs relaunch after being purchased by Wellful follows a surge in diabetes drugs like Ozempic being used for weight-loss purposes. For the business is all tied up in trusts for those future Thomsons, so that death duties will not tear it apart. Part of a group that buys NHL Atlanta Thrashers, relocates to Winnipeg. The Ontario, Canada-based firm owns two-thirds of the publicly-traded financial data and. David Thomson lives in Toronto where he guards his privacy closely. Co-Founder Bill Gates is the second-richest globally, with a net worth of US$96.5 billion. One can have all of the numbers prepared, all the logistics, all the statistics run, but until one faces a human being or a corporate entity, one really has no sense of its service, let alone its potential. Here we have Thomson explaining in business-speak why he is so successful. Net Worth: $4.9 B Microsoft Corp. Thus David Thomson inherited part of a family fortune, his grandfathers hereditary British peerage (Baron Thomson of Fleet), and the responsibility of being the public face of the family, even if the familys investments were guided by professional managers. Chanpeng Zhao (CZ) Net Worth: What is the Canadian Billionaire Worth? Thomson also has two daughters from his first marriage to Mary Lou La Prairie. Brian Chappatta, Tom Maloney, Jack Witzig, Pei Yi Mak and Andrew Heathcote, Design & development: Story continues below As indicated by Forbes, David Thomson is the third Baron Thomson of Fleet and is worth $10.7 billion ($8.53 billion). Net Worth: $10 B Newman wondered if Thomson could survive his own intensity, and pointed to the quote Thomson chose to accompany his photo in the 1975 Upper Canada College yearbook as a possible sign of self-awareness on that point. After graduating with a bachelors degree in electrical engineering, he went on to earn an MBA from Yale University. In 2020, he was ranked as the 9th richest person in Canada, with a net worth of $3.3 billion. While millions across Canada face financial precarity, and have struggled through COVID-19, the Thomson familys net worth has increased by $18 billion since the start of the pandemic. After being born into one of the wealthiest families in the world, David Thomson easily could have sat back and lived a playboy lifestyle from a private island in the Bahamas. David and his two siblings, Peter and Taylor, each received 14% of Woodbridge. He was anointed the third-generation standard-bearer by his grandfather Roy, who had launched the Thomson empire and multi-billion-dollar fortune in the 1930s with radio stations and newspapers in northern Ontario. Last year, Thomson ranked 32nd globally. Davids conversation is an improbable mixture of introspective genius and postindustrial babble, Newman wrote. Please try again. warehouse worker, a barista, a school custodian, a safety inspector, a gig worker, a student, a parent. Additionally, he owns a number of homes in London. Woodbridge owns 63.4 percent of the combined company, Thomson Reuters, as well as holdings in commodity analyst IHS and Canada telecommunications company BCE. Cheriton was born in England, but he moved to Canada when he was young. Forbes Billionaires List Ranks Canadian David Thomson (And - HuffPost David Kenneth Roy Thomson, 3rd Baron Thomson of Fleet (born 12 June 1957), is a Canadian/British [2] [3] [4] hereditary peer and media magnate. Apr 11, 2023, 12:36 PM Updated Thomson Reuters. Thomson is also chairman of Canada's Globe and Mail newspaper. David Thomson is the head of the richest family in Canada, with a personal net worth of $8 billion. Within five years, the elder Thomson owned the majority of all newspapers in Canada. There is never any small talk. He added: The professional managers who run the Thomson organization regard him as a bit of a flake, but they have no choice.. But the wealth of Thomson Reuters doesnt emanate from the instinctual brain of David Thomson, it comes from the labour of its 24,000 employees. The absurdity is only heightened if we compare the Thomson family to the median Canadian family. Enrique Shore/Alamy David Thomson took over as chairman of the Thomson Corporation. Jeff Bezos now richest in world, as David Thomson tops Canadian Age: 83 Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. As of Feb. 9, Bezos' wealth stood at US$112 billion as of Feb. 9, up from about US$73 billion last year, according to Forbes. Canada's Richest billionaires 2020 - University Magazine Empire builder and billionaire just dont call him Canadas Warren Buffett, MacKenzie Scott donates another $2.7 billion, blasts wealth gap, Owning a cottage is becoming a pipe dream, even for Canadas wealthy, tap here to see other videos from our team. His official title is "David Kenneth Roy Thomson, 3rd Baron Thomson of Fleet" and today he is the richest person in Canada and the 26th richest person in the world. A fifth of that boost in wealth went into the hands of Canada's richest family, the family of David Thomson, heirs to the Thomson Reuters media empire, who saw their estimated net worth rise . Amazon also has built a network of data centres that hosts the online services of other companies, and produces award-winning shows that compete against traditional TV networks. Father Kenneth dies, putting David in charge of family business. Courtesy Thompson Corp. Succeeding his father, David Thomson was crowned as the new chairman of Thomson Reutersa media conglomerate that his grandfather founded in 1934and acquired the hereditary title of Baron Thomson of Fleet. You have not taken a weekend with your wife, you have no spare time that you use constructively, you do not have any hobbies, you do not know how to spell Mozart. Federal regulators utilize the 'social cost of carbon' to estimate the benefits of global warming regulations. The company has since become one of the largest dairy producers in the world, with operations in Canada, the United States, Argentina and Australia. Both Gates, 62, and Buffett, 87, have committed to giving away most of their wealth while Bezos, 54, hasn't said much about his philanthropic plans. David Thomson has become the richest man in Canada with a fortune north of $50 billion. Thomson has had a prolific love life. He is also a major philanthropist, and he has given millions of dollars to charity over the years. Thomson's bitter divorce from his second wife garnered extensive media coverage in Maclean's magazine in Canada. Each of Audrey's three children, Linda Campbell, Susan Grange and Gaye Farncombe, received 11%. This should not come as a surprise since he seems to tire easily. He made his fortune in media and publishing, and today his company Thomson Reuters is one of the largest news providers in the world. The absurd wealth of Canadian billionaire David Thomson But art is simply another way to expand his inherited wealth, and widen economic inequality. Acreage Holdings Further Streamlines Leadership and Oversight in Preparation for Expected Acquisition by Canopy USA, KFC Founder Colonel Sanders History in Mississauga: A Finger-Lickin Legacy, Fairfax India Acquires Additional 3% Interest in Bangalore International Airport Boosting Aggregate Ownership to 57%, Battery Innovation, Technology, and Investments in Canada: Powering the Future, Toronto Transit Commission awards NFI contract for up to 621 New Flyer battery-electric heavy-duty transit buses. [5] [1] [6] Upon the death of his father in 2006, Thomson became the chairman of Thomson Corporation and also inherited his father's British title, Baron Thomson of Fleet. Huang Chulong Net Worth - $4.4 Billion. Money does not open every door. The reclusive Thomson is probably most known for his world-class art collection and the gossipy details of his divorces. David Thomson, the 3rd Baron Thomson of Fleet, is a Canadian businessman, media magnate, art collector who has a net worth of $50 billion. Thomson and his family also have a significant investment portfolio, including stakes in companies like Google, Facebook, and Apple. Back in 1998, Newman noted that Thomsons vast wealth and bevy of opportunity meant that nothing could stop him except himself. How David Thomson Became The Richest Person In Canada Receives master's degree from Selwyn College at Cambridge University. When his father passed away in 2006, Thomson took control of the family fortune and became chairman of the Thomson Corporation. A cousin, Sherry Brydson, the only child of Irma, owns about 23%. He sold most of his shopping center interests to the Canada Pension Plan in 2010, and property management arm Redcliff to Calgary's Coril in 2011. You work for a living, but are paid a wage that is only a fraction of the wealth you create. In his role as chairman, hes given a variety of thoroughly researched reportspresumably prepared for him by a legion of employeesand then he often disregards their recommendations in favour of following his instincts. Sherry Brydson Net Worth: $17.38 billion Brydson's wealth comes from her share of the Thomson family investment firm, Woodbridge. More recently, it branched into health care in a partnership involving Berkshire Hathaway and its CEO, Warren Buffett, whose US$84 billion fortune ranks third on the Forbes list. In one of the stranger quotes in the Macleans interview, Thomson says, I become excited at the thought of measuring myself in varied situations, alongside Wellington in India, or being in a fighter aircraft attacking a formation of bombers and being vastly outnumbered. Age: 46 Thomson has broken records with his art purchases. Methodology: The Bloomberg Billionaires Index is a daily ranking of the world's richest He started working at his fathers cheese factory at 14 and eventually took over the business, renaming it Saputo Inc. Today, Cheriton is worth an estimated $2.5 billion, making him one of the richest people in Canada. Thomson is a co-chairman of Woodbridge, a closely held Canadian investment firm. Donald Trumps real net worth? The conditions of the trusts ensure that control of the business will remain in Thomson hands for 80 years.. Unauthorized distribution, transmission or republication strictly prohibited. Share your thoughts and join the conversation in the comments. In 2008, they merged with famous media company Reuters to form Thomson Reuters, which continues to be a big part of the information world to this day. David Thomson Total net worth: $8.68 billion Year-to-date change: +$293 million Taylor Thomson Total net worth: $8.68 billion Year-to-date change: +$288 million Peter Thomson Not surprisingly, he did not return a voice message, left at his Woodbridge office, requesting an interview for this story. Thomson was later engaged to Canadian actress Kelly Rowan, but the couple split up before the birth of their daughter. David Thomson with works by Lawren S. Harris in the Thomson Canadian Gallery at the Art Gallery of Ontario in 2008. Such absurd wealth hides in the shadows. He is famously media shy (ironically, given the empire he oversees), has been divorced twice (which could be part of his media reticence, but more on that later), and shares two daughters and a son with his first wife, and another daughter (born in 2008) with actress Kelly Rowan. Toronto, Canada Citizenship Canada Marital Status Divorced Children 4 Education Master of Arts, University of Cambridge Did you know Thomson has a diverse art portfolio reported to include. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Donate. For instance, Richard Warke, the poorest of Canadas 65 billionaires with a net worth of only $1.1 billion. Thomson and family are ranked at number 27 in the global list with a net worth thats more than three times that of the next richest Canadian, e-commerce tycoon Joseph Tsai. Together, Cheriton and Lazaridis founded a company called Research In Motion (now known as BlackBerry). Kenneth's eldest son, David K. R. Thomson, took the reins of the family fortune on his father's death in June 2006. The merger resulted in the new conglomerate Thomson Reuters Corporation in 2008. After completing his education, Mark began working for PokerStars alongside his father. The decline left him as the world's 766th richest person, more than 200 places lower than his 544th spot on last year's Forbes list. He owns about 14% of Woodbridge's assets and his relatives own the rest. All Rights Reserved. Instead of being a lazy billionaire playboy, David has spent decades working extremely hard both in school and in business to help expand his family's empire and prove his own worth a media tycoon. A real collector will rarely sell a work unless he can replace it with something even greater that has more personal meaning. Ones heart breaks for the billionaire boomer, who has walked through so many open doors, only to find the door to his favourite John Constable painting shut. Hes stated that the art world has taught me harsh lessons on human nature. He controls his grandfather Roy Thomson's media and publishing empire and is the chairman of Thomson Reuters. Thomson's career has largely spanned companies owned or controlled by his family. David Cheriton is a Canadian computer scientist and billionaire. For the first time in seven years, El Nino is here what does this mean for Canada? Most visible is the public Thomson Corp., a $28.7-billion global digital media empire administered from Stamford, Conn., with electronic databases in law, health care, science, accounting and education. As Canadas economy continues to grow, so too does the wealth of its richest citizens. David's share also includes proceeds from land sales associated with Osmington, his real estate company. David Thomson is the Chairman of the Thomson Reuters corporation and his family is the richest in Canada. Niantic, the maker of Pokemon GO, on Thursday announced its second round of layoffs over the past 12 months, making it the latest major U.S. company to conduct layoffs this year, following major . The Weston family is worth an estimated $15.6 billion, making them the countrys richest billionaires for 2020. Industries: Technology. The 63-year-old Chinese businessman Huang Chulong has a 4.4 B net worth, ranking tenth among Canada's wealthiest individuals. Thomson rarely gives interviews, maintains a low public profile, and when he is quoted in the media, it is often a negative comment about the business world. David Thomson sits atop the family empire. We ask you to keep your comments relevant and respectful. He has been named one of Canadas richest billionaires in 2020, with an estimated net worth of $4.7 billion. Thomsons reclusive approach has not changed in the two decades since. The combined wealth of the top 46 [] All Canadians in the billionaires club are listed below. At the time of his death, he was listed by Forbes as the richest person in Canada and the ninth richest person in the world, with a net worth of approximately US $19.6 billion. At that time he anointed his grandson David (over his sister Taylor or brother Peter), as his son Kenneth's eventual successor and David's son (rather than one of his daughters, way to be progressive, Roy) as Kenneth's successor. Following this, he worked in various positions for companies controlled by his family, including the department store chains Hudson's Bay and Zellers. Source: Retail Access articles from across Canada with one account. Sign up for our weekly email newsletter delving into climate science and life on a changing planet. [1/6]A view of the Horizon Arctic ship, as salvaged pieces of the Titan submersible from OceanGate Expeditions are returned, in St. John's harbour, Newfoundland, Canada June 28, 2023.REUTERS/David . 2023 Celebrity Net Worth / All Rights Reserved. 'Presumed human remains' found in Titan submersible debris field, US Reflects change since 5 pm ET of prior trading day. That business, known up until 2008 as The Thomson Corporation, specializes in "financial services, healthcare sectors, law, science & technology research, and tax & accounting." Ask Thomson the meaning of life or the time of day, Newman observed, and youd get the same look of deep thought. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. That makes him the countrys eighth richest person, ahead of Montreals Stephen Jarislowsky (net worth: $11.7 billion) and behind Vancouvers Chip Wilson ($12.1 billion). While millions across Canada face financial precarity, and have struggled through COVID-19, the Thomson family's net worthhas increased by $18 billion since the start of the pandemic. David Thomson. David Thomson is the richest man in Canada . List of Canadians by net worth - Wikipedia Christopher Cannon, Dean Halford, Brittany Harris and Julian Burgess. Tsai moved to Canada in 1987 to attend McGill University. Create an account or sign in to continue with your reading experience. Industries: Diversified. Worlds first flying car receives approval for test flights in the U.S. Electric flying car approved for flight testing, This Lord of the Rings trading card could be worth millions, Woman goes into labour at Taylor Swift concert in Columbus. Iris Fontbona Iris Fontbona Iris Fontbona, a billionaire who is single. Common Medical School Interview Questions, Best Mechanical Engineering School In The US 2020, https://www.universitymagazine.ca/author/emily-wilson, Managing Student Loans Like a Pro: 10 Expert Tips for a Debt-Free Future, College Majors With The Highest Starting Salaries 2023. The pair separated in 2008. "Presumed human remains" were among the debris and evidence recovered from the seafloor where the doomed Titan submersible's remnants were found, the US Coast Guard said Wednesday. Industries: Food & Beverages. As of July 2023, David Thomson's net worth is estimated to be roughly $50 Billion. Published by Statista Research Department , Jun 20, 2023. Canada's Rich, Troubled Thomson Family - The Canadian Encyclopedia OTTAWA, June 22 (Reuters) - Meta Platforms Inc (META.O) plans to end access to news on Facebook and Instagram for all users in Canada once a parliament-approved . The list of Canadian billionaires is topped by media mogul David Thomson and family, with an estimated net worth of US$32.5 billion, or $43.4 billion in Canadian dollars. He explains that these rejections are so serious because art is one of the few pursuits in which I can totally unravel my soul. Bezos has used a sliver of his wealth to buy The Washington Post -- a target in Trump's fusillades against the media -- and to finance Blue Origin, a maker of rockets that aim to sell flights into space. The Most Dangerous Beach In the World 2023, Travel with Peace of Mind: The Top 5 Travel Insurance Options, Managing Student Loans Like a Pro: 10 Expert Tips for a, The Ultimate Guide to Understanding Student Loan Forgiveness, The Most Affordable Cities In Canada 2023, Best Colleges For Accounting In Alabama 2023, Best Colleges for Engineering Technicians 2023, Cities With The Cheapest Rent In Canada 2023, The Easiest Degree To Obtain From University. Amazon.com Inc. Chief Executive Officer Jeff Bezos is again No.1 in the world with a net worth of US$131 billion, though terms of his divorce from wife MacKenzie have not been disclosed. All told, the world now holds more than 2,200 billionaires with a combined fortune of US$9.1 trillion, up 18 per cent from ago, according to Forbes' calculations. He also inherited the hereditary British title of Baron Thomson of Fleet, making him the 3rd Baron Thomson of Fleet after his grandfather and his father. Billionaires in Canada: Here's how much wealthier they are in 2023 With the trade deadline of Aug. 1 just weeks away, contending clubs hoping to improve their chances could be active in the market. Mihail Degteariov | Dreamstime, Jason Zhang | Wikimedia Commons One of the world's wealthiest billionaires is from Toronto, and the family's net worth is jaw-dropping. Share to Linkedin. Industries: Media & Entertainment. Von Mandl was born in Austria in 1954. He is an art collector who is rumored to own pieces by Pablo Picasso. SAN FRANCISCO -- Amazon CEO Jeff Bezos has become the first US$100 billion mogul to top Forbes' annual rankings of the world's richest people. But President Donald Trump's fortune sank during his first year in office despite a surging stock market. As of 2023, David Thomson's net worth stands at an astonishing figure estimated to be around $56.7 billion, making him one of the wealthiest individuals not just in Canada but globally as well. He made his fortune in the food and beverage industry, and he now owns several businesses in Canada and the United States. He oversees the Galaxy Holding Group as its CEO. The list features 11 billionaires, with their fortunes ranging from $4.7 to $27.2 billion. Who's David Thomson? Postmedia may earn an affiliate commission from purchases made through links on this page. Less relatable are the calls the boss would receive from Thomson on a Sunday night from Liechtenstein asking if he could get the Monday off. After aggressive expansion in the UK, he sold shares in a public offering in 1965, with his son Kenneth taking over in 1976. Once one of the largest information companies in the world, Thomson Corporation was active in health care, financial services, legal affairs, scientific research, and tax and accounting. Joseph Chung-Hsin Tsai, a Taiwanese-Hong Kong-Canadian businessman, is the second richest Canadian on the Forbes list with $12.6 billion in net worth. Meanwhile, Amazon has expanded beyond its bookselling origin to become a retailer of almost everything imaginable. Thomson, heir to the Thomson media empire, owns a smaller stake in his family's investment company than previously reported. David Kenneth Roy Thomson didnt have much choice in his elevation to public head of his familys vast business kingdom. The members of BTS have all achieved individual stardom alongside their phenomenal success as a K-pop group. Thomson Reuters is majority owned by the Thomson family's holding company the Woodbridge Company. The quote: We are never so much victims of another as we are the victims of ourselves.. That's pretty much the opposite of how he has lived his life. All net worths are calculated using data drawn from public sources. Age: 62 Stakes in publicly traded companies are valued using the share's most recent closing price. Bloomberg Billionaires Index - Taylor Thomson David Thomson is the head of the richest family in Canada, with a personal net worth of $8 billion. Thomson himself is known for his somewhat unorthodox lifestyle compared to other wealthy businessmen, keeping a very low profile. The winery quickly became one of the largest in Canada, and von Mandl himself became a prominent figure in the Canadian wine industry. He is the co-founder of Mission Hill Winery, one of Canadas most prominent wineries. , (AP Photo/Susan Walsh, File). Spencer Bridgman is a writer and Spring Member based in Toronto. He currently serves as executive vice-chairman of the company. Right: Thomson Reuters building in Toronto. Thomson is a co-chairman of Woodbridge, the investment firm that controls Thomson Reuters. David Thomson's career in business has largely been characterized by his work within companies controlled by his family. David Thomson took over as chairman of the Thomson Corporation following his father Kenneth's death in 2006. We apologize, but this video has failed to load. Forty-five Canadians have made Forbes magazines annual list of billionaires. His son -- and David Thomson's father, Kenneth -- inherited 42%. To do so, he founded the real estate firm Osmington Incorporated, which buys and manages commercial real estate assets on behalf of shareholders.

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