North Toronto residents feature prominently on Canadian Business magazine’s latest annual ranking of the country’s 100 wealthiest. Even with a dip in fortunes, Rosedale’s Thomson family and Galen Weston Sr. clinched the first and second slots, respectively.
The Thomson family, topping the list for a 13th straight year, had a reported net worth of $21.34 billion. This was a drop of 8.7 per cent from the previous year. Weston, at $8 billion, saw a decrease of 5.8 per cent.
North Toronto’s Allan Slaight and power couple Gerry Schwartz and Heather Reisman, also made the list, snagging the 28th and 36th spots, respectively. Other local notables in the top 100 are the Rogers and Reichmann families.
James Cowan, deputy editor of Canadian Business, explained that, since many of these families come from old money, built up over multiple generations, one bad year doesn’t really have a big impact on their ranking the way it might on the newly affluent.
“The old saying about the rich getting richer actually happens to be true in this case,” Cowan said.
