Richest People

Canada’s Richest People: Muzzo Estate

Canada’s Richest People
Muzzo Estate

Muzzo Estate

Net Worth:
$1.86 billion
(▲2.2% from 2017)

Rich 100 rank: #62
Change in rank from 2017: ▼1
Major company holdings: Muzzo Group
Location: Woodbridge, Ont.

The Muzzo family’s business empire, including drywall giant Marel Contractors and condo developer Pemberton Group, is fiercely private. But it has faced public scrutiny due to the actions of one family member. Marco Muzzo, grandson of the company’s founder, the late Marco Sr., was sentenced to 10 years in prison in February 2016 for impaired driving causing death. He was behind the wheel of an SUV that collided with a minivan on Sept. 29, 2015, in Vaughan, Ont.—killing four people and seriously injuring two. In September, a judge ruled he would be eligible for full parole in 2019.

The elder Marco and his brother Elio Muzzo built their fortune on construction. From the mid-1960s onward, they worked with Rudy Bratty and Fred DeGasperis to turn farmland into three Ontario subdivisions that would grow to become the cities of Markham, Vaughan and Brampton. Bratty’s Remington Group acquired the land, DeGasperis’s ConDrain put in the infrastructure and the Muzzos’s Marel Contractors finished the houses. These days, the family companies are run by Marco Jr.’s uncle, Marc Muzzo, along with cousins Eliot and Alex Muzzo.

Updated Thursday, November 9, 2017