A new report by the Canadian Centre for Policy Alternatives illustrates how 87 families in Canada hold roughly as much wealth as what everyone living in Newfoundland and Labrador, New Brunswick and Prince Edward Island collectively owns.
This would include the combined value of all property, houses, cottages, cars, bank accounts, stocks, small businesses, RRSPs, pensions, jewelry, golf clubs and so on as well as the net of all personal debts in those provinces.
Median net worth for all families in Canada in 2016 was 2-hundred-95-thousand-100-dollars while that of Canada’s wealthiest families was 3 billion dollars.
The Centre’s paper compares the net worth of the wealthiest families as compiled by Canadian Business magazine to the net worth of Canadian families generally. It does this over a 17 year period. It would take the combined worth of 12 million Canadians to equate to the wealth of the 87 richest families in Canada.