Richest People

Canada’s Richest People: Alexander Shnaider

Canada’s Richest People
Alexander Shnaider
(Photo: Rene Johnston/Getty)

Alexander Shnaider

Net Worth:
$2.85 billion
(No change from 2017)

Rich 100 rank: #37
Change in rank from 2017: ▼5
Major company holdings: Midland Resources Holding Ltd.
Location: Toronto
Age: 49

Like many people connected to Donald Trump, Alexander Shnaider had a rough go this year. The Russian-Canadian real estate developer was caught up in the federal investigation into Trump’s ties to Russia after it was discovered that Shnaider received hundreds of millions of dollars by a Russian state-run bank which may have helped pay for building the Trump Tower in Toronto.

The bank in question, Vnesheconombank, is the same institution that sent officials to meet with the president’s son-in-law Jared Kushner last December. Former press secretary Sean Spicer said the meeting was to establish a “primary point of contact with foreign government officials.” That same bank was placed on the U.S. sanctions list in 2014.

Long before being embroiled in Trump-related controversy, Shnaider started in the steel industry, making a fortune on the rebuilding of post-Soviet eastern Europe. He’s turned that first fortune into a second one in real estate, with holdings throughout the U.S., Russia and Canada. For a time, he owned the Maccabi Tel Aviv soccer team; he recently increased his stake in Israel-based Mishorim Development, which owns and develops leisure properties across Israel, the U.S. and Canada.

Updated Thursday, November 9, 2017