Canada’s rich are feeling pretty good about life in the post-Great Recession period — though maybe not quite as good as their wealthy U.S. counterparts.
A survey from BMO Harris Private Banking found 54 per cent of Canada’s high net worth individuals — those with investible assets of $1 million or more — say they are better off today than they were before the recession.
Only 11 per cent said they were worse off now than before the downturn.
That compares to 61 per cent of high net worth Americans who say they are better than before the recession, and only seven per cent who say they’re worse off.
“High-net worth Canadians clearly feel they have bounced back well from the 2008 downturn and are fairly upbeat about what the future has in store for Canada’s economy,” Alex Dousmanis-Curtis, Senior Vice President and Head of BMO Harris Private Banking, said in a statement.
The survey found 47 per cent of wealthy Canadians expect the economy to improve in 2013.
While the survey didn’t provide numbers for non-wealthy Canadians, a recent Harris/Decima consumer confidence poll found 21 per cent of the general population expects the economy to improve over the next year.
That would suggest wealthy Canadians are considerably more confident in their future prospects than the population as a whole.
The BMO survey was conducted online by Pollara between in March and April, sampling 350 Canadians and 482 Americans with more than $1 million in investible assets. It has a margin of error of plus or minus 5.6 percentage points, 19 times out of 20, for the Canadian results.
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10: Chip Wilson - $3.5 billion
The founder of Lululemon has cracked the top 10 list with a net worth of $3.5 billion.
9: Carlo Fidani - $3.6 billion
Fidani is the heir to a Toronto-area real estate fortune. He runs Orlando Corp.
8: Saputo family - $4.23 billion
Lino Saputo established dairy giant Saputo Inc. in the 1960s, growing it to one of Canada's largest companies. His son, Joey, is pictured here.
7: Paul Desmarais, Sr. - $4.4 billion
Desmarais is the chairman of Power Corp.
6: Jeff Skoll - $4.55 billion
Skoll was the first employee and the first president of eBay. He is based in Los Angeles.
5: Jimmy Pattison - $6.14 billion
The owner of the Jim Pattison Group has a variety of holdings including Western Canada's Overwaitea supermarket chain and a number of radio and TV stations in Alberta and B.C.
4: Rogers family - $6.4 billion
The Rogers family are the heirs to Ted Rogers' telecommunications empire. Pictured: Ted Rogers, who passed away in 2008.
3: J.K., Arthur and John Irving - $8.07 billion
Heirs to the Irving Oil fortune.
2: Galen Weston - $8.2 billion
Besides the Weston Foods baking empire, Weston holds a controlling share in the Loblaws supermarket chain and is chairman of upscale retailer Holt Renfrew.
1. Thomson family - $20.1 billion
The family behind international media empire Thomson Reuters maintains their position as owners of Canada's largest private fortune. Pictured: David Thomson, chairman of Thomson Reuters.
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5. United Kingdom
1.28 million millionaires.
1.32 million millionaires.
2.1 million millionaires.
1. United States
5.2 million millionaires.
Cities With The Most Millionaires
19. Mexico City
18. Houston, Texas
14. Los Angeles
8: Hong Kong
2: New York