If Galen Weston spent as much of his paycheck on food as I do, how much would he pay at the till?
It seems like you can’t have a conversation these days without bringing up how much you spent on a cauliflower. With Canadians facing high grocery prices, we wanted to do a grocery experiment.
What if a billionaire spent as much of their wealth on food as I have to?
This experiment hopes to contextualize how ridiculous food prices have become in Canada, using Galen Weston Jr. – president of Loblaw Companies and heir to the multibillion-dollar Weston family fortune – as an example.
For this experiment, without disclosing too much personal information, let’s call me an “average salary earner.” In Canada, the average salary is about $50,000 per year.
According to The Globe and Mail, Galen Weston Jr.’s pay package in 2021 included a $730,546 salary, a $2.17 million bonus, and share and stock-option awards valued at $2.47 million. Of course, let’s not forget that doesn’t include any other income sources, multi-generational wealth, or other investments. The Weston family is worth more than $8 billion, after all.
Theoretically, if I buy a banana for $1, I spend a percentage of my annual salary on that piece of tropical fruit. If Weston were to spend the same percentage of his 2021 compensation on a banana, it would cost more than $100.
Daily Hive
So, I went to the No Frills on Broadway in Vancouver and shopped for a week’s worth of groceries. Here’s what I got and how much it cost me vs. how much Weston would pay if he spent as much of his compensation on food as I did:
Breakfast
TMI but I eat oatmeal, almond butter, and apple for breakfast each day
For breakfast this week, I’ll need apples, oatmeal, almond butter, yogurt, and cottage cheese.
Ambrosia Apples
Price for me: $7.99
Price for Galen Weston: $862.92
Oatmeal
Price for me: $4.89
Price for Galen Weston: $528.12
Almond Butter
Price for me: $8.99
Price for Galen Weston: $970.92
Mid-morning snacks
Yogurt
Price for me: $3.33
Price for Galen Weston: $359.64
Cottage Cheese
Price for me: $4.39
Price for Galen Weston: $474.12
Lunch
Frozen fish at the No Frills
Lunch will be similarly formulaic, just fish and vegetables. We’ll use frozen fish for convenience and opt for one green and one starchy vegetable with it for lunch each day.
Frozen fish option 1
Price for me: $6.49
Price for Galen Weston: $700.92
Frozen fish option 2
Price for me: $16.99
Price for Galen Weston: $1,834.92
Peppers and broccoli were on sale
Broccoli
Price for me: $2.47
Price for Galen Weston: $266.76
Snap peas
Price for me: $5.99
Price for Galen Weston: $646.92
Beets
Price for me: $4.49
Price for Galen Weston: $484.92
Peppers
Price for me: $3.99
Price for Galen Weston: $430.92
Dinner
Basics for easy soup and sandwich meals
Keeping super simple, I’ll eat soup and either grilled cheese or tuna sandwiches for dinner, plus some cucumber to munch on.
Loaf of bread
Price for me: $5.49
Price for Galen Weston: $592.92
Three cans of soup
Price for me: $4.99 x 3 = $14.97
Price for Galen Weston: $1,616.76
Two packs of sliced cheese
Price for me: $6 x 2 =$12
Price for Galen Weston: $1,296
I’m sure there was a cheaper butter somewhere in the store
Butter
Price for me: $7.29
Price for Galen Weston: $787.32
Can of tuna
Price for me: $3.69
Price for Galen Weston: $398.52
Jar of mayo
Price for me: $4.79
Price for Galen Weston: $517.32
Cucumbers
Price for me: $5.49
Price for Galen Weston: $592.92
Snacks and desserts
Snacks for the week
Because I don’t want to live in a world without dessert and snacks, I picked up a week’s worth of treats and snacks.
Bag of chips
Price for me: $3.50
Price for Galen Weston: $378
Chocolate covered almonds
Price for me: $6
Price for Galen Weston: $648
Three protein bars
Price for me: $2.79 x 3 = $8.37
Price for Galen Weston: $903.96
Groceries for the week
All the groceries at home
TOTAL
My weekly total was $142.49, or about 0.285% of my annual salary. If Weston were to spend as much of his paycheck on a week’s worth of groceries as I do, he’d be dropping more than $15,000 at the till.
Daily Hive
How much are you spending on your weekly grocery bill? Let us know in the comments.
Editor’s note: This article is a thought experiment and not a representation of Mr. Weston’s actual wealth and earnings.
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