Millionaires In New Brunswick: How Many?

New Brunswick, Canada is home to several millionaires. The Irving family, based in Saint John, is the wealthiest in the province, with a net worth of $7.65 billion. They are followed by the McCain family, of the eponymous frozen food giant, with a net worth of $3.71 billion. The Sobey family, owners of a grocery store empire, are also among the wealthiest in the province.

James and Arthur Irving, owners of Irving Oil and J.D. Irving, are worth $9.09 billion and $6.51 billion, respectively

New Brunswick is a small province in Canada with a population of only about 2.5 million people, yet it has produced a number of ultra-wealthy individuals. Three New Brunswick families have made it onto the list of Canada's wealthiest people, according to Canadian Business magazine.

The Irving family is one of the most notable among them, with James and Arthur Irving at its helm. James and Arthur Irving are Canadian billionaire brothers and owners of Irving Oil and J.D. Irving, respectively. They are the fourth richest people in Canada and are ranked 276th in the list of World Billionaires, with a combined net worth of $12.34 billion as of August 2018.

James Irving, the eldest son of industrialist K.C. Irving, is worth $6.51 billion as of 2022. After his father's death in 1992, James took ownership of J.D. Irving, a conglomerate with interests in forestry, pulp and paper, tissue, lumber, building supplies, frozen food, transportation, shipping lines, and shipbuilding. J.D. Irving is a formidable empire, with over two dozen companies in multiple sectors. One of its major divisions, Irving Woodland, is the sixth-largest landowner in the United States, with over 1.25 million acres of land.

Arthur Irving, the second son of K.C. Irving, is worth $9.09 billion. After their father's death, Arthur took ownership of Irving Oil, including its gas stations, retail stores, oil refineries, oil tankers, distribution terminals, and other facilities. Over time, Arthur became the sole owner of Irving Oil through the Arthur Irving Family Trust. Irving Oil is one of the largest oil refinery businesses in North America and operates most gas stations east of Quebec. Arthur served as the president of Irving Oil and was also the chairman of its board of directors until October 2023.

The Irving brothers, along with their late brother Jack, have dominated the local economy through their diverse business interests. Their businesses span industries such as oil, natural gas, gas stations, timber, paper products, shipbuilding, construction, agriculture, and media. The Irving Group of Companies currently employs more than 15,000 people and operates in both Canada and the United States.

The McCain family, of McCain Foods, are worth $3.79 billion

New Brunswick, Canada, is home to several millionaires. One notable family is the McCains, of McCain Foods, who are worth $3.79 billion as of 2018.

McCain Foods is a Canadian multinational frozen food company, specialising in frozen potato products. It was co-founded in 1956 or 1957 by brothers Harrison McCain and Wallace McCain, along with their two older brothers. The company is based in Florenceville, New Brunswick, where the McCain family has sold seed potatoes since 1900.

In their first year, McCain Foods hired 30 employees and made over $150,000 in sales. As of 2017, the company has over 20,000 employees and 47 production facilities across six continents, generating more than $8.5 billion in annual sales. The company's global presence includes production facilities, a corporate head office in Toronto, and sales in over 160 countries.

The McCain family's wealth has allowed them to make significant donations to various causes. For example, Wallace McCain donated $5 million to the University of New Brunswick for the Wallace McCain Institute, a program for business students and entrepreneurs. He also donated $5 million, along with his wife Margaret, to establish The Wallace McCain Centre for pancreatic cancer research and treatment.

The Sobey family, of Sobeys, are worth over $26 billion

The Sobey Family: Worth Over $26 Billion

The Sobey family's wealth is largely tied to Empire Company, a public company listed on the TSX. Since the death of former president and chairman, Donald Sobey, in 2021, the Sobey fortune has been held by his brother David, the family of his deceased brother Bill, as well as his wife, Beth Sobey, and their three children. The Empire Company is currently the second-largest food retailer in Canada, after Loblaw, and has expanded its reach across the grocery industry, including bakery, dairy, frozen foods, meat and poultry, seafood, delicatessen, general grocery, and snacks.

In addition to their food-related companies, the Sobey family's Empire Company Limited also has investments in cinema and real estate. The family has also generously contributed to charitable causes, including the Sobey Foundation, Nova Scotia Nature Trust, and Nova Scotia Community College. The family has also donated over $20 million to Saint Mary's University's Sobey School of Business in Halifax since the early 2000s.

The Sobey family's success is a testament to their hard work and business acumen, with their grocery stores becoming a staple across Canada. Their diverse investments and contributions to charitable causes showcase their commitment to giving back to the community.

John Risely, co-founder of Clearwater Seafoods, is worth $1.21 billion

John Risley, the co-founder of Clearwater Seafoods, is a Canadian billionaire businessman with interests in fisheries, food supplements, and communications. He was born on April 26, 1948, in Halifax, Nova Scotia, and is known for his insatiable drive to build businesses. Risley's first business breakthrough came from selling crustaceans, specifically lobsters, out of the back of a rented pick-up truck on Halifax's Bedford Highway. Along with his brother-in-law Colin MacDonald, he founded Clearwater Seafoods in 1976 as a small, local lobster retailer. Within ten years, Clearwater had become one of the largest international food fish businesses, specialising in high-return products such as scallops, lobster, clams, coldwater shrimp, and crab. The company expanded globally, air-freighting its products worldwide.

Clearwater Seafoods has since diversified its operations, investing in science, communities, people, and technological innovation. It has also acquired other businesses, such as the largest shellfish producer in the UK, MacDuff Shellfish Group, in 2016. In 2021, Clearwater was acquired by a partnership between Premium Brands and the Mi’kmaq Coalition, marking a historic transaction that catapulted First Nations into a leading global position in the seafood industry. Despite stepping down from his role at Clearwater Seafoods, Risley remains a major shareholder in the company.

In addition to his success with Clearwater Seafoods, Risley has ventured into other industries. He co-founded Columbus Communications, a Caribbean cable television and internet provider, in 2004. He also founded Ocean Nutrition Canada in 1997, which became the world's largest producer of omega-3 fatty acids from fish oil. Risley's diverse business interests and relentless drive have contributed to his estimated net worth of $1.21 billion, solidifying his status as one of the most notable millionaires in New Brunswick.

The Saputo family, of Saputo Inc., had a net revenue of $14.9 billion in 2020

The Saputo family, led by Lino Saputo Sr., owns the dairy company Saputo Inc. With headquarters in Montreal, Saputo Inc. is the largest dairy processor in Canada and one of the top ten dairy processors in the world. The company produces, markets, and distributes a wide range of dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients.

In the fiscal year ending March 31, 2020, Saputo Inc. reported a net revenue of $14.9 billion. This figure represents the company's financial performance for the year, including all sales and income generated from its operations. The company's revenue has been steadily increasing over the years, reaching approximately $17.8 billion in fiscal 2023.

Saputo Inc.'s global presence extends beyond Canada, with operations in the United States, Argentina, and Australia. Their products are sold in over 40 countries worldwide. In 2021, the company ranked as the second most successful dairy food processor in North America, generating annual sales of approximately $11.5 billion.

The company's success is attributed to its commitment to innovation, acquisitions, and social responsibility. Saputo Inc. continuously invests in research and development to enhance its product portfolio, focusing on core categories such as snacking, Italian-style, and specialty cheeses, as well as value-added products, beverages, and ingredients.

The Saputo family's wealth and the success of Saputo Inc. have solidified their position as one of the notable millionaires in Quebec, Canada.

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