Richest People

Canada’s Richest People: The Leon family

Canada’s Richest People
Leon family
(Photo: Metro News)

Leon family

Net Worth:
$1.1 billion
(▲3.8% from 2017)

Rich 100 rank: #95
Change in rank from 2017: ▼6
Major company holdings: Leon’s Furniture
Location: Toronto

Three of the five members of the executive team at Leon’s bear the family name—a sign that the sprawling clan still retains tight control over the business. The Canadian furniture brand was founded in 1909 by Ablan and Lena Leon, who emigrated from Lebanon in the early 1900s. The Leons went on to have 11 children and 63 grandchildren, with many of the clan’s members going to work in the family business.

In 2015, Edward Leon was promoted to president and COO, joining family member Terrence, CEO, at the top of the firm. The same restructuring appointed separate executives responsible for each of the Leon’s stores and the Brick, which the company acquired in 2013, freeing the family to focus on further growing their empire.

Updated Thursday, November 9, 2017