Canada's 10 Richest Politicians: 2025 Fortune Rankings
Canada's Richest Politicians
Top 10 Richest Canadian Politicians in 2025
Although political life is not generally associated with extravagant salaries, some Canadian politicians manage to accumulate impressive fortunes. Whether they inherited family empires, enjoyed business success before entering politics, or invested wisely, these personalities combine power and prosperity. Discover the descending ranking of Canada's 10 wealthiest politicians (current or former) in 2025. Be prepared for some surprises about the scale of their wealth and the multiple sources of their income!
10ᵉ: Doug Ford - 50 million Canadian dollars
Douglas Doug Ford Jr. is the current Premier of Ontario, but his wealth stems mainly from his entrepreneurial background. Before entering politics, Doug Ford ran the family business Deco Labelsspecializing in label printing. As sole owner of Deco Labels, he benefited from the company's significant growth, notably by supplying signs and signage during the Covid-19 pandemic. These business successes, combined with the assets inherited from his father (who was himself an MLA), explain why Doug Ford's fortune is estimated at around 50 million dollars.
His salary as provincial premier (approx. 206,000 $ per year) represents only a small fraction of this amount, with the remainder coming from his corporate dividends, private investments and real estate properties. Despite his relatively discreet lifestyle, Doug Ford is one of the few Canadian politicians to attain such a level of wealth.
9ᵉ: John Tory - 50 million Canadian dollars
Former mayor of Toronto (2014-2023) and well-known figure in Ontario politics, John Tory has a net worth of around 50 million dollars. Born into an influential family (his father co-founded the major law firm Torys LLP), John Tory's career began as a lawyer and businessman. He was CEO of Rogers Media in the 1990s and has served on a number of corporate boards, accumulating substantial income in addition to his public salary. His sources of income include his family heritageits executive salaries in the private sectoras well as financial investments fruitful.
Although his position as mayor brought him a comparatively modest salary (in the region of 200,000 $ per annum), John Tory continued to manage his private interests during his political life. Known for his professionalism and measured style, he used his network and business expertise to grow his wealth while serving the City of Toronto.
8ᵉ: Bill Morneau - 60 million Canadian dollars
Seasoned businessman turned Finance Minister (2015-2020) of Canada, Bill Morneau has a personal fortune estimated at more than $50 millionwhich some estimate at around 60 million in 2025. Before entering politics, he headed Morneau Shepell, the large human resources firm founded by his family, and benefited greatly from the company's growth (valued at around $1 billion when he entered politics). His wealth comes mainly from SHARE SALE and dividends of Morneau Shepell, as well as other financial investments.
His wife Nancy McCain is heiress to the McCain Foods empire (the famous "McCain fries"), making them one of Ottawa's wealthiest couples. Although Bill Morneau earned the salary of a federal cabinet minister during his term of office, it was his success in the private sector and in the public sector that made him one of the wealthiest people in Ottawa. family assets that explain the scale of his assets. His case illustrates how some business leaders go into politics while maintaining very solid financial foundations.
7ᵉ: Jagmeet Singh - 78 million Canadian dollars
The presence of Jagmeet Singhleader of the New Democratic Party (NDP), in this ranking may come as a surprise. Officially, his assets are valued at 78 million dollarswhich makes him one of the richest federal politicians. This estimated fortune, though open to debate, can be explained by several factors. Before entering politics, Jagmeet Singh worked as a lawyer and was able to save a comfortable amount of capital. Coming from a wealthy family of Indo-Canadian migrants, he undoubtedly benefited from the financial support of his relatives - for example, some reports indicate that he received family assistance to acquire his residence.
In addition, Jagmeet Singh earned a salary as an Ontario MPP and then as a federal MPP, and now earns about 271,700 $ annual salary as leader of a recognized party in the House of Commons. However, it is mainly personal investmentspossibly in real estate and private placementswho are said to have increased his wealth. Known for his sophisticated style (bespoke suits, luxury watches), Jagmeet Singh illustrates that even at the head of a party focused on economic equality, one can belong to the ranks of the country's millionaires.
6ᵉ: Brian Mulroney - 94 million Canadian dollars
Former Prime Minister of Canada from 1984 to 1993, the Honourable Brian Mulroney was able to monetize his experience and address book after his political career to build a fortune estimated at approximately $94 million. From a modest background in the Gaspé, Mulroney was a business lawyer before entering politics. During his tenure as prime minister, he didn't become wealthy on his public salary, but it's a good thing he did. after leaving office that he truly accumulated his wealth. Brian Mulroney has sat on the boards of numerous multinationals (such as mining company Barrick Gold, JP Morgan Bank and Blackstone Corporation), where his directors' fees and SHARE ALLOCATIONS made him millions.
For example, it is estimated that he owned company shares with a reported value of over $90 million in 2024. Added to this are his fees as speaker and strategic advisor, as well as his pensions and benefits former prime minister. At over 80, Brian Mulroney remains one of Canada's wealthiest former executives, symbolizing the lucrative bridge that sometimes exists between high public office and the business world.
5ᵉ: Justin Trudeau - 125 million Canadian dollars
Prime Minister of Canada since 2015, Justin Trudeau is not only a statesman, he's also one of the world's richest serving politicians. His personal fortune is estimated at around 125 million Canadian dollars (approximately 96 million US dollars). Much of this wealth comes from theheritage from his father, former Prime Minister Pierre Elliott Trudeau. Justin and his brothers inherited a sum in excess of 40 million $, which served as the foundation of his estate.
Unlike many of his contemporaries, Trudeau had capital to work with from the outset: a portfolio ofdiversified investmentsincluding real estate assets of around 50 million $ and stock market investments estimated at 20 million $ according to some sources. As Prime Minister, he earns an annual salary of 379,000 $which is comfortable but not decisive in terms of his total wealth. Justin Trudeau has also earned income from his paid dissertations and lectures before coming to power.
His atypical financial situation for a head of government fuels curiosity: he is sometimes cited as one of the "world's richest politicians". This has not prevented him from pursuing an active political career, while managing his assets via trusts and financial advisors to avoid conflicts of interest.
4ᵉ: Paul Martin - 300 million Canadian dollars
Former prime minister (2003-2006) and renowned finance minister, Paul Martin is an outstanding example of a politician with a successful business record. His fortune is estimated at approximately $300 million. Prior to his political career, Paul Martin built his wealth by managing Canada Steamship Lines (CSL)a shipping company he bought in the 1980s. Under his leadership, CSL has become a major player in global shipping, which has enriched Martin considerably.
According to Forbeshis fortune was already estimated at 225 million $ US around 2004. when he was head of the Canadian government. Converted into Canadian dollars and adjusted to 2025, this is close to 300 million. Paul Martin's sources of income include profits from the sale of CSL (he handed over management of the company to his sons when he entered politics, but the family retained ownership), the investments in commercial real estateas well as the roles of international adviser after his retirement from active politics.
Although he received a salary as minister and then prime minister, most of his wealth came from his entrepreneurial audacity earlier. To this day, Paul Martin remains committed to philanthropy through his Indigenous Peoples Initiative, a luxury he can afford thanks to the financial wealth he has acquired over the decades.
3ᵉ: Kevin O'Leary - 500 million Canadian dollars
Known to the general public for his role in the TV show Shark Tank, Kevin O'Leary is a businessman and economic commentator who has made a foray into politics. In 2017, he ran (briefly) for the leadership of the Conservative Party of Canada, so we can count him among politicians in the broadest sense. His colossal fortune, estimated at 500 million Canadian dollars (approx. 400 M$ US), stems from a series of entrepreneurial successes. Kevin O'Leary co-founded an educational software company in the 1980s, SoftKey International (The Learning Company)which he sold to Mattel in 1999 for the astronomical sum of US$4.2 billion $. This sale brought him a significant share of cash and shares.
Thereafter, O'Leary multiplied his investments (O'Leary Funds, which he sold in 2016), and he has become a well-paid media personality, which also fuels his income. His sources of wealth therefore include technology (software)the television (as a business panelist), the financial sector and various holdings in start-ups. Although he did not eventually hold public office, Kevin O'Leary remains one of the wealthiest Canadians connected with the political sphere. His outspokenness and nickname "Mr. Wonderful" contrast with the usual profile of Canadian politicians, but his financial success is undeniable and spectacular.
2ᵉ: Belinda Stronach - 800 million Canadian dollars
Belinda Stronach combines industrial heritage, entrepreneurial success and a political career. Daughter of billionaire industrialist Frank Stronach (founder of Magna International), she was a member of the Swiss parliament and a minister between 2004 and 2008. Today, Belinda Stronach has an estimated fortune of around 800 million dollars. His wealth comes primarily from the Stronach family empire. In 2020, a family settlement split Frank Stronach's fortune, allowing Belinda to take over the reins. full control of the Stronach group (including assets in horse racing, casinos, North American real estate, etc.) while his parents retained thoroughbred breeding and certain European operations.
Before that, Belinda had already benefited from million in dividends as a former executive with Magna International and major equity holdings. Its assets have grown thanks to its roles as CEO, Stronach Group and co-founder of the Acasta Enterprises investment fund. Although she has received a public salary as a Member of Parliament and Minister, the overwhelming majority of her income comes from her heritage and growth of family businesses she pilots.
By way of perspective, her father Frank's fortune was estimated at 1.5 billion $ in 2018 before being divided. Belinda Stronach thus finds herself at the head of a vast empire, making her one of Canada's wealthiest businesswomen and the wealthiest Canadian politician not to have served as prime minister.
1ᵉʳ: Hal Jackman - 3.1 billion Canadian dollars
At the top of this ranking Hal Jackmanwith a fortune of around 3.1 billion Canadian dollars (equivalent to US$2.3 billion $). Henry "Hal" Jackman served as Lieutenant-Governor of Ontario from 1991 to 1997 - a ceremonial position representing the monarch - and comes from a family line that blends politics and business. His wealth comes almost exclusively from his private investment.
Hal Jackman is one of the main shareholders ofE-L Financial Corporationa holding company for insurance and investment companies founded by his family. According to ForbesHal Jackman was worth 2.3 billion $ in 2023, making him one of the 1,500 richest people in the world. His income comes from dividends and capital gains accumulated over decades, as well as diversified investments in real estate and works of art.
Although his role as lieutenant-governor has no significant remuneration compared to his fortune (it's an honorary role paid about the same as a senior civil servant), this makes Hal Jackman a rare example of a billionaire who also held political office in Canada. Now in his 90s, Hal Jackman remains committed to philanthropy - he has made major gifts to the arts and education - while remaining the head of a considerable family estate. He is officially richest canadian politician in 2025far ahead of the others.
Conclusion
This overview shows that Canada's political landscape boasts some exceptionally wealthy individuals. While most elected officials live on comfortable salaries, a minority of them - often from influential families or former captains of industry - have fortunes that rival those of major entrepreneurs. We note that not all these fortunes come from politics itselfRather, they are the result of inheritances, private sector careers, or wise investments made in parallel with public life.
This cohabitation of money and power regularly raises questions of ethics and fairness, but it also offers fascinating stories of combined success. From billionaires like Hal Jackman to heirs like Belinda Stronach, to self-made millionaires like Kevin O'Leary or Paul Martin, each of these wealthy politicians has a unique journey where political ambition and entrepreneurial spirit come together.
Canada, renowned for the modesty of its leaders, nevertheless has a few "The "political rich whose heritage inspires astonishment - and sometimes admiration or controversy. Whatever one thinks of them, these individuals demonstrate that in Canada too, some decision-makers know how to reconcile power and financial prosperity.
FAQ: Frequently asked questions about the wealth of Canadian politicians
Q: Who will be the richest Canadian politician in 2025?
R : According to the ranking above, these are Hal Jackmanformer Lieutenant-Governor of Ontario, with a fortune estimated at around C$3.1 billion. He is a special case, as his wealth comes from private investments and not from public office. He far exceeds other politicians in terms of wealth. By way of comparison, the next person in line is Belinda Stronach with around 800 million $. No other Canadian politician will reach one billion by 2025.
Q: Is Justin Trudeau a billionaire?
R : No, Justin Trudeau is not a billionaire. His fortune, although very high for a sitting politician, is around 125 million Canadian dollars. This puts him a long way from billionaire status. His wealth comes mainly from his father's inheritance (over 40 million $) and subsequent real estate and financial investments, as well as his salary as Prime Minister. Justin Trudeau is a millionaire, but not a billionaire. In fact, worldwide, very few politicians in office are billionaires - they're the exception (Michael Bloomberg in the U.S., for example). In the Canadian context, Trudeau is among the richest politicians, but behind Hal Jackman and a few other inherited fortunes.
Q: How did these politicians amass their fortunes?
R : Most of the politicians quoted here have accumulated their wealth outside their elective office. Their sources of income are varied: family heirlooms (Trudeau, Stronach, Jackman, Morneau via his marriage), entrepreneurial success stories (O'Leary with the sale of his software company, Paul Martin with Canada Steamship Lines, Doug Ford with Deco Labels), careers in the private sector before/after politics (Mulroney and Chrétien in corporate boardrooms, John Tory in law and media), as well as investments (real estate, stock market investments) made over time.
In short, very few earned significant sums. grace to politics itself - public salaries, while comfortable, are far from sufficient to achieve such levels of wealth. It's the combination of business success, family wealth and asset appreciation that has made them multi-millionaires.
Q: Is the salary of Canadian politicians enough to make you rich?
R : No, the salary only of a politician isn't usually enough to make him or her filthy rich. For example, a Member of Parliament earns around 182,600 $ a year, and the Prime Minister earns around 379,000 $ a year. Even adding up these incomes over many years doesn't add up to tens of millions. The politicians in this top 10 are rich because they already had external sources of income much higher.
That said, the position can bring other indirect benefits: network of contacts for business opportunities, well-paid conferences after the mandate, etc. But as a general rule, to become a millionaire (let alone a billionaire), you need other financial drivers. It's also worth noting that Canada imposes ethical rules limiting business activities during terms of office, and many politicians place their assets in temporary blind trusts. In conclusion, a political salary ensures a comfortable life, but it's not enough. doesn't just create a huge fortune - you already have to be rich or successful elsewhere to appear in such a ranking.
