Canada's wealthiest individual, Kenneth Thomson,who made his fortune in Internet gambling
2nd wealthiest Canadian, Calvin Ayre, son of Saskatchewan Pig Farmers. haha
Even for billionaires, the world is changing fast.
According to Forbes magazine's annual ranking of the world's super-rich, emerging markets are producing billionaires at a furious clip — as are emerging industries.
Canada's wealthiest individual, Kenneth Thomson, was ranked 9th on the list, with a personal worth of $19.6-billion (U.S.) But he was joined by an obscure, and controversial, up-and-comer from Saskatchewan who made his fortune in Internet gambling.
Forbes placed Calvin Ayre — the son of Saskatchewan pig farmers who now lives in Costa Rica — on the cover of its issue, which hits the streets today, saying the founder of Bodog.com is worth $1 billion.
The rise of emerging markets and a host of new billionaires from third-world countries helped boost the ranks of the 10-figure club to a record 793, as 102 people managed to make the leap. The average net worth of the list's members is $3.3-billion (U.S.). Their combined wealth grew 18 per cent to $2.6-trillion, greater than the GDP of all but six countries in the world.
China added eight billionaires to the list, and the number and net worth of India's mega-rich surpassed Japan's for the first time. Also a first on the list: a billionaire from the Czech Republic.
Russia and India helped put some new and largely unheard of names on the list.
Mr. Thomson, who is chairman of The Globe and Mail, broke the top 10 on the Forbes ranking for the first time. Microsoft head Bill Gates continued to lead the list, with a $50-billion net worth. Investor guru Warren Buffett was a mere $8-billion behind in second place.
The 44-year-old Mr. Ayre made his fortune running Bodog Entertainment Group, an on-line gambling firm that takes bets from more than 16-million customers and makes most of its money in the U.S., where such activity is, by most accounts, illegal. But because Mr. Ayre's operation is based in Costa Rica, he doesn't have to worry about the law, or corporate and personal income taxes. The son of grain and pig farmers who grew up in Lloydminster, Sask. is now driven around Costa Rica in a black Hummer by a chauffeur who was previously trained as a sniper in Canada, according to the magazine.
Before starting Bodog with $10,000 six years ago, Mr. Ayre's business track record was spotty. While working for a Vancouver-based heart-valve maker, he got in trouble with the British Columbia Securities Commission for selling shares without releasing a prospectus and moving his own shares without filing insider trading reports. He settled for a $10,000 fine and a 20-year ban from running a company listed on the Vancouver exchange.
Today, Mr. Ayre is better known for masterminding such events as the Lingerie Bowl, a more dubious alternative to the Super Bowl. He's been known to hand out thongs as business cards.
The Bodog web site describes the University of Waterloo graduate as “the personification of a new American Dream.”
Mr. Ayre's story illustrates the changing face of the world's ultra-rich. While famous names still dominate the upper echelons of the ranking, the groundswell at the bottom is dominated by pioneers in industries such as on-line gambling and alternative fuel sources, as well as beneficiaries of booming Third World stock markets.
Conversely, a double-digit percentage drop in the stock price of retail behemoth Wal-Mart Stores Inc. over the past year sent the fortunes of owners the Walton family sinking (relatively speaking). Four of the five Waltons on the list saw their fortunes shrink in the past year.
However the United States is still home to more billionaires than anywhere else in the world, with 371. New York is the city of choice, home to 40. The list includes 22 Canadians. Galen Weston and his family are the second-richest clan in Canada, according to Forbes, but lag 50 places behind Mr. Thomson.
To come up with the list, Forbes used stock prices closes from Feb. 13, and estimated the value of private companies by comparing them with equivalent public ones.
Only 78 women made the list, an increase of 10 from last year. The vast majority inherited their fortunes or gained them through marriage. The youngest billionaire on the list is also a woman, 22-year-old Hind Hariri. The daughter of slain Lebanese Prime Minister Rafik Hariri is worth an estimated $1.4-billion. Ms. Hariri's mother and elder brother also made the list, with estimated fortunes of $1.7-billion and $2.7-billion respectively.
Some famous names also dropped off the list this year.