Richest People

Canada’s Richest People: Seymour Schulich

Canada’s Richest People
Seymour Schulich
(Photo: Ron Bull/Getty)

Seymour Schulich

Net Worth:
$1.56 billion
(▼11.9% from 2017)

Rich 100 rank: #76
Change in rank from 2017: ▼13
Major company holdings: Birchcliff Energy, Barrick Gold
Location: Toronto
Age: 77

Seymour Schulich doesn’t know how to make small bets. He owns Birchcliff Energy, San Juan Basin Royalty Trust, Barrick Gold, Teva Pharmaceutical Industries and the Royal Canadian Mint bullion exchange-traded receipts. They’re bold bets, too. Gold stocks have been in the dumps for years, but in a media report, Schulich said he sees gold reaching $3,000 an ounce within the next three to five years. Last year Schulich bought shares of Pengrowth Energy Corp., as oil prices started to show signs of recovery. As of early October, he owned 130 million shares, or 24% of the company.

Schulich’s big bets aren’t limited to stocks. In addition to his many major philanthropic endeavours over the years, he established the Schulich Leader Scholarships, a $100-million project that supports students pursuing science, technology, engineering and math studies.

Updated Thursday, November 9, 2017