This group of Ontario's richest people have a combined wealth of over $200 billion

Ontario's top 0.1 per cent continues to dominate the country's financial landscape, with a new list showing more than $200 billion in combined net worth across the province's wealthiest people. 

The annual report, titled "The Rich List," is produced by Maclean's in partnership with its sister publication, Canadian Business, and identifies Canada's 40 richest people and outlines how they've amassed their fortunes. 

For years now, the Thomson family has held the coveted top spot through its vast holdings in Thomson Reuters and a broad range of other investments; however, as the publication notes, emerging industries have altered the top of this year's list. 

The most significant change comes from the rise of businessman Changpeng Zhao, who founded the world's largest cryptocurrency exchange, and who now enters the ranking in the number one position this year.

Maclean's notes that the total net worth of the 10 wealthiest Canadians this year has ballooned to $310 billion, which is a staggering 20 per cent higher than last year. The wealthiest handful of people from or currently residing in Ontario have a combined net worth of over $210 billion.

To calculate the fortunes tied to public companies, the publication drew from management informational circulars and SEC filings, while private companies were assessed through sales, output, and comparable valuations. 

Unsurprisingly, the Thomson family, with its mind-boggling net worth of $90.2 billion, continues to rank at the top in Ontario. The publication notes that Thomson Reuters has invested heavily in integrating AI across its services. Along with its controlling stake in Thomson Reuters, the family's holiday company, Woodbridge, also owns major media assets like The Globe and Mail. 

Irish-Canadian businessman and member of the Weston family, Galen Weston Jr., took the third spot on the list this year, with a net worth of $20.6 billion. The former president of Loblaw Companies Ltd. reportedly resides in Caledon and continues to serve as chairman of George Weston  Ltd.

Shopify's founder, Tobias Lütke, who was born in Germany but relocated to Toronto from Ottawa in 2023, also remains one of the country's wealthiest tech leaders, with a net worth of $19.1 billion. 

Here are the current wealthiest individuals or families who were born in or reside in Ontario, according to the list. 

1. Thomson Family — Media and information distribution ($90.2 billion)
2. Galen Weston Jr. — Grocery and real estate ($20.6 billion)
3. Tobias Lütke — E-commerce ($19.1 billion) 
4. Rogers Family  — Media and communications  ($11.9 billion)
5. Apostolopoulos family — Real estate and entertainment ($9.6 billion) 
6. Peter Gilgan — Home construction ($9.3 billion)
7. Stuart Hoegner — Cryptocurrency ($9.3 billion)
8. Zekelman family — Steel ($9 billion)
9. Stephen Smith — Financial services ($8 billion) 
10. Mark Leonard and family — Software ($6.5 billion)
11. Carlo Fidani — Real estate ($6.1 billion) 
12. Michael Latifi — Food processing ($6.1 billion)
13. Jack Cockwell — Investing ($4.8 billion)