Richest People

Canada’s Richest People: Ronald Joyce

Canada’s Richest People
Ronald Joyce
(Photo: WireImage/Getty)

Ronald Joyce

Net Worth:
$1.57 billion
(▲3.3% from 2017)

Rich 100 rank: #75
Change in rank from 2017: ▼8
Major company holdings: Tim Hortons
Location: Calgary
Age: 86

Ronald Joyce, the Tim Hortons co-founder, has a broader array of investments than was previously known—including a sizable stake in BCE. The 87-year-old billionaire continues to battle a civil suit brought against him alleging sexual assault. He describes the suit, filed in 2013, which seeks $7.5 million in damages, as a “blatant” extortion attempt. In the spring of 2016, he appealed a court decision to allow the suit to go to trial, claiming the matter had been settled privately. In early 2017, the court ruled against him.

Meanwhile the Tim Horton’s brand itself is in hot water. In June, a group of franchisees filed a lawsuit against parent company Restaurant Brands International, alleging cost cutting at the expense of franchisees. In October, franchise-owners filed another suit against RBI for barring them from exercising their right to associate.

Updated Thursday, November 9, 2017