81. Robert Gratto
Net worth: $662 million | Up 23% | Location: Montreal | 06 rank: 84
The chairman of Power Financial Corp. (TSX: PWF) made a major move into the U.S. with a $4.6-billion takeover of Putnam Investments Trust from Marsh & McLennan Cos. Winnipeg-based Great-West Lifeco Inc. (TSX: GWL.PR.O), owned by Power Financial, will get the asset management business of Putnam Investments, while subsidiary Great-West Life Assurance Co. will acquire Putnam’s 25% interest in T. H. Lee Partners LP, a private-equity firm.
82. Randall Moffat
Net worth: $661 million | Up 34% | Location: Winnipeg | 06 rank: 89
Moffat found himself with eight western Canadian radio stations to run after the unexpected death of his father in 1964. Moffat Communications Inc. went public just under a decade later, and the cable pioneer held a 51.2% stake until Shaw Communications (TSX: SJR.B) bought the family company in 2001. Moffat now devotes himself to philanthropy. Since it was established in 2001 with $100 million, the Moffat Family Fund has donated about $25 million to various charities helping underprivileged children and needy families.
83. Lawrence Ho
Net worth: $648 million | 25% | Location: Hong Kong | 06 rank: 56
In the first 50 days after Melco International Development Ltd. (TSX: MRD) opened its high-roller-targeted hotel and casino in gambling hot spot Macau this May, it brought in net revenue of US$26 million. Now the chairman and CEO is looking to expand his entertainment portfolio to include Chinese ski resorts.
84. Jack Cockwell
Net worth: $632 million | Up 26% | Location: Toronto | 06 rank: 88
Under the company’s group chairman, Brookfield Asset Management Inc. (TSX: BAM.PR.N) continued to build its South American presence this year. Subsidiary Brascan Brazil’s new investments included a 40% stake in Brazilian investment bank Banco Brascan, giving the company 100% ownership. Another subsidiary, Brascan Energética SA, agreed to acquire a portfolio of hydroelectric generating facilities from Energisa SA for US$150 million.
85. Sam and Van Kolias
Net worth: $631 million | 13% | Location: Calgary | 06 rank: 81
Boardwalk REIT (TSX: BEI.UN), owned by the philanthropically minded Kolias brothers, saw Alberta and Saskatchewan’s soaring rents contribute to a $14 million revenue boost in the second quarter. Despite this, the company posted a $97.5-million net loss for potential tax losses in 2011 stemming from changes the feds made to income trust taxation. Although Alberta has no rent control, Boardwalk’s self-imposed $150-a-year cap on rent increases aims to keep their buildings affordable; those who can’t even afford that are given leave of the hike.
86. Belkin Family
Net worth: $613 million | Up 12% | Location: Vancouver | 06 rank: 82
After months of mulling over structural alternatives for the Canadian Hotel Income Properties Real Estate Investment Trust (TSX: HOT.UN), shareholders agreed to sell it to British Columbia Investment Management Corp. for $1.2 billion. The Belkin family received about $254 million for their roughly 27% stake in the REIT.
87. Aldo Bensadoun
Net worth: $571 million | Up 27% | Location: Montreal | 06 rank: 94
The founder and CEO of Aldo Group Inc. continued to expand his footwear chain abroad this year, bringing stores to Turkey, Romania, Ukraine, Indonesia, Philippines, Venezuela, Panama, Mexico and Chile. By the end of 2007, the company says it will have more than 800 Aldo stores in 40 countries worldwide.
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88. Rob McEwen
Net worth: $556 million | N/A | Location: Toronto | 06 rank: N/A
Rob McEwen may have turned his back on Goldcorp Inc. (TSX: G) — which he built into one of Canada’s most successful gold producers — but he hasn’t turned his back on gold. McEwen made headlines last year when he openly opposed Goldcorp’s proposed merger with Glamis Gold Ltd. The merger was ultimately successful and McEwen is now looking to repeat his Goldcorp success at US Gold Corp. (TSX: UXG) and Lexam Explorations Inc. (TSX: LEX).
89. Jodrey Family
Net worth: $555 million | Up 2% | Location: Hantsport, N.S. | 06 rank: 83
Roy A. Jodrey founded the Minas Basin Pulp and Power Co. in 1927 in Hantsport, N.S. In March, the company’s power plant suffered a “catastrophic” fire, but its paper mill continued to operate despite the damage. The mill employs 165 people and is the largest employer in town. The family, owner of private holding company Scotia Investments Ltd., is a major player in waste management, health care and real estate, among other activities.
90. Michael Potter
Net worth: $551 million | Up 4% | Location: Ottawa | 06 rank: 86
A software guru and aviation fanatic among other pursuits, Potter is quite the Renaissance man. Last winter he gave Ottawa’s Opera Lyra $250,000 to inject culture into teenagers’ lives through afternoon matinees. IBM (NYSE: IBM) picked up Cognos Inc. (TSX: CSN), the business intelligence software giant Potter founded, for US$4.9 billion in November. Though long retired, he still keeps an ear to the ground for tech prospects. He’s an investor in software startup Espial Group (TSX: ESP), a company banking on growing demand for Internet-protocol television (IPTV).
