Top 10: Richest Canadians

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Most of us are well aware that the richest people in the world have names like Bill Gates, Richard Branson, Oprah Winfrey, and the Sultan of Brunei. But who are the richest Canadians and how did they acquire their wealth? Here are 10 of the richest people in the land of beer and maple syrup.



Please note: All figures for net worth are in American dollars as the list was compiled by Forbes Magazine, an American periodical. Canadian dollars (CAD) will be noted when used.



Number 10

G. Wallace F. McCain

Net worth: $2.6 billion

Wallace McCain and his brothers set up a small frozen french fry business in Atlantic Canada in 1956. Half a century later, McCain Foods Ltd. has grown into one of the world’s largest frozen-food empires and its No. 1 french fry producer, largely due to Wallace’s financial savvy. McCain has more than 20,000 employees and 55 factories in 12 countries, and processes about a million pounds of potatoes every hour. International sales topped $5.68 billion CAD in 2005.

Future revenues: McCain Foods will rebuild its Florenceville, New Brunswick, potato processing plant in an effort to streamline its operations from a two-line system to a state-of-the-art one-line system. The move is designed to not only upgrade an aging facility, but to also improve productivity and profitability. The plant is scheduled to be in operation by September 2008. The company also announced that it is introducing a new line of potato dishes, called Gourmet Potato, in spring 2007.



Number 9

Robert Miller

Net worth: $2.9 billion

Miller started Future Electronics Inc. in Quebec in 1968 and nurtured it into the third largest electronics distributor in the world. Some of his privately owned company’s products include semiconductors and electromechanical components. Future also owns and operates some complementary businesses, such as Future Global (for large customers), FAI (for small- to middle-range customers) and Future Active (for catalog and sales). The estimated annual sales for Future Electronics are $3 billion CAD. Wealth may have made Miller seem reclusive to some, but last December he threw a party for 6,000 friends and employees at Montreal’s Bell Centre.

Future revenues: Future Electronics Inc. announced a deal in March 2007 to globally promote, supply and support products from Microbridge, the leader in passive analog precision calibration. This partnership is expected to be a win-win for Microbridge, with its top-of-the-line products, and Future, with its world-renowned distribution and customer service.



Number 8

James (Jim) Allen Pattison

Net worth: $3.8 billion

Born on the Prairies but now heading his operation out of Vancouver, British Columbia, Jimmy Pattison began his rise in 1961 with a single car dealership. Always expanding and growing, the Jim Pattison Group now covers industries including automotive sales, media, entertainment, grocery stores, and, of course, advertising, for which Pattison is probably best-known. Projected annual sales surpass $6 billion CAD, making JPG the third largest privately held company in Canada.

Future revenues: There may never be a slow day at the office for the Jim Pattison Group. They are always on the lookout for new growth and acquisitions. There’s even a page on JPG’s website encouraging contact for prospective companies to become acquired. Its many news items for 2007 include a contract to supply 400 pylon and monument signs for Regions Bank in the U.S., a few new grocery store openings, and the announcement of some new attractions under the banner of its Ripley’s Believe It or Not! tourist entertainment destinations. Currently serving 13 million visitors at 60 attractions across 10 countries, this expansion will bring those numbers up to 64 and 11 respectively.

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