As Canada’s third largest metropolitan region, Metro Vancouver boasts its fair share of wealthy individuals, including billionaires like Chip Wilson who earned his success with an athletic apparel empire or Jim Pattison with his namesake conglomerate.
The eight richest people (or families) in Vancouver are worth at least a billion. While most of this list sees their fortunes flourishing, one very notable local billionaire’s net worth took a big hit recently.
Lululemon founder Chip Wilson has endured a number of very public fights with his former company’s board. Proving that not all P.R. is good public relations, some embarrassing media gaffs and quips from Wilson have contributed to eroding sales of the upscale athletic line he founded.
However, while Wilson still ranks well for Vancouver residents, he fell from the 11th to 42nd between 2013 and 2014.
10 richest people and families in Vancouver
10. Belkin Family
Net Worth: $900 million
Stuart Belkin runs Belkorp, the privately held Vancouver based company founded by his father. Belkorp has a major footing in the local sugar, pulp, and paper industry.
9. Gary Charlwood
Net Worth: $984 million
Gary Charlwood set his fortune in motion when he acquired the Canadian rights to Century 21. Since then, his company, Vancouver-based Uniglobe Travel, has established franchises in 60 countries across the globe.
8. The Chan Family
Net Worth: $1.08 billion
Hong Kong born Tom and Caleb Chan moved to Vancouver in the late 1980s and began purchasing golf courses across British Columbia and Hawaii. Caleb is the president of Burrard International Holdings, the family real estate and development holding company, while Tom runs the family’s charitable foundation. They are perhaps best associated with their donation to fund the construction of UBC’s new performing arts centre in 1997, which was named after their family.
7. Hassan Khosrowshahi
Net Worth: $1.08 billion
Hassan Khosrowshahi is the chairman of the Persis Group, headquartered in Vancouver. The Iranian-Canadian leads a company with interests in a number of sectors, including pharmaceutical royalties, entertainment royalties, real estate development, shopping centres and retail. The company was responsible for much of Future Shop’s growth in the 1990s as well as Best Buy’s successful expansion into Canada.
6. Chip Wilson
Net Worth: $2.1 billion
From the humble origins of a Kitsilano store front, Chip Wilson founded Lululemon and changed women’s athletic fashion forever. A cult-like fervor for the brand quickly developed.
However, in recent years Wilson found himself at odds with the board of directors of his company and ultimately stepped down from the board in February 2015. He also sold half of his 27 per cent stake in the company for $845 million.
5. Brandt Louie
Net Worth: $2.3 billion
Brandt Louie is the patriarch of his family and was the Chairman and CEO of H.Y. Louie and Company. Louie’s company owns and runs the Richmond-based London Drugs chain, which grew to 78 stores in 2014 with a reach as far east as Winnipeg. Louie is also the Chancellor Emeritus of Simon Fraser University.
4. Bob Gaglardi
Net Worth: $2.58 billion
Bob Gaglardi founded Northland Properties Group, which is based in Vancouver and Calgary. The company’s holdings are restaurants and hotels, including Chop Steakhouses & Bar, Moxie’s Grill & Bar, Denny’s Restaurants, The Sutton Place Hotels and Sandman Hotel Group. He also owns an NHL franchise: the Dallas Stars.
3. The Lalji Family
Net Worth: $2.69 billion
The Lalji family moved to Vancouver after they were banished from Uganda by dictator Idi Amin in the 1970s. They own the Larco Group, which is one of the city’s largest land developers with retail and hotel properties. They are known for managing West Vancouver’s Park Royal Shopping Centre and their hospitality portfolio includes operating JW Marriott, Sheraton, Marriott, Renaissance and Hilton brands.
2. The Aquilini Family
Net Worth: $2.8 billion
Francesco Aquilini is the Managing Director of the Aquilini Group, which has interests in several industries but its business primarily revolves around real estate and development. The Aquilini family is best known for its ownership of the NHL Vancouver Canucks hockey team.
1. Jim Pattison
Net Worth: $7.88 billion
Jimmy Pattison is a billionaire nearly eight times over. He is the President, Managing Director, CEO, Chairman and sole owner of the Jim Pattison Group, the largest privately held company in Canada.
His company owns numerous car dealerships, Save-On-Foods, Overwaitea, Guinness World Records, media outlets, Ripley’s Believe It or Not and Canadian wine purveyor Everything Wine.
It is an impressive empire for a man who started out as a gas station car washer and used-car salesman.