They Are Also The Richest South Asians In Canada!
TORONTO – A wealthy,prominent South Asian family isamong the list of the 100 richestCanadians released by CanadianBusiness. The Lalji Familymakes the top 25 on the listwhich is led by the ThomsonFamily (Thomson-Reuters) andGalen Watson (who ownsLoblaws).The Lalji Family, which ownsLarco Investments Ltd., clockedin with $2.56 billion. They areamong three British Columbianswho are on the list, includingLululemon founder ChipWilson – who has come underfire recently for his mouth, nothis pockets – is B.C.’s secondrichestman with a value of$3.73 billion. And JamesPattison, an individual owner ofseveral groups and companies,ranked first in the province,worth $7.39 billion.Pattison’s holdings includeOverwaitea supermarkets,Ocean Brands seafood, and theJim Pattison Broadcast Group.Also in B.C.’s top five areBurnaby’s Brandt C. Louie(owner of H.Y. Louie Co.) andVancouver’s Bob Gaglardi(Northland Properties).The magazine said Canada’ssuper rich only got super richer,increasing their worth on averageby 15 per cent.”Collectively, the individuals onthe Rich 100 are worth $230 billion,more than the total grossdomestic product of manycountries in the world, includingNew Zealand, Ireland andPortugal,” wrote CB’s staff.”And this year has been one oftheir best ever. Their combinednet worth surged by more than15 per cent, the biggest increasesince 2000.”Since Canadian Business startedits rankings in 1999, the wealthof the 100th richest person inCanada has risen from $309.6million to $728 million.As for the richest of the richest,the Toronto-based RogersFamily weighed in with $7.6 billion,built off their RogersCommunications empire. GalenWeston (whose domains includeLoblaws supermarkets and HoltRenfrew) is worth $10.4 billion.The Thomson Family placedfirst in Canada – by a large distance– with $26.1 billion.