10 Of The Richest Canadians Under The Age Of 40 & How They Made Their Millions

Bianca Andreescu

Everyone knows that professional athletes earn a boatload of money, but what sets Bianca Andreescu apart is the rapid pace at which she has done it. At just 23 years old, this Canadian tennis icon has already amassed an estimated net worth of US$4 million as of 2023. While this figure may not appear as staggering as some of the other individuals on this list, it is certainly an impressive feat for her age.

As of 2023, Bianca Andreescu holds the highest rank among Canadian players in the Women's Tennis Association (WTA). Her accomplishments on the court have been nothing short of remarkable.

As of today, her total career prize winnings amount to an impressive $8.75 million. This statistic represents the cumulative earnings she has amassed from every professional tournament she has competed in throughout her career.

In 2019, she emerged victorious at both the U.S. Open and the Canadian Open, solidifying her status as the top-ranked Canadian player in singles. Her triumph at the U.S. Grand Slam event also earned her the distinction of being the only Canadian to have won a major title thus far. Furthermore, her victory at the Canadian Open marked the first time in the last 50 years that a Canadian had claimed the title. Notably, Andreescu achieved this feat as a teenager, a feat previously accomplished only by Maria Sharapova in 2006.

Beyond her impressive tennis career, Andreescu serves as the brand ambassador for Cadillac Canada, adding to her growing list of achievements and endorsements, which surely only bring more value to her name.

Chris Boucher

When discussing native athletes who have achieved substantial wealth, it is difficult not to mention Chris Boucher. He is one of three Canadian basketball players who play for the Toronto Raptors, alongside Dalano Banton and Khem Birch, and holds the distinction of being the highest earner among them.

According to Bleacher, Boucher re-signed with the Raptors on a three-year deal worth $35.2 million in June of 2022. However, despite this massive contract, as of 2023, his estimated net worth is approximately $6.5 million.

Despite being 30 years old, Boucher is considered a rising star in the NBA, boasting numerous awards and titles. He has been honoured as a two-time NBA champion, the NBA G League Most Valuable Player of the Year, and the NBA G League Defensive Player.

In addition to his basketball career, Boucher also earns money as the brand ambassador for the snack brand Slim Jim.

Lilly Singh

Lilly Singh is YouTube royalty.

At just 28 years old, she ranked tenth on the Forbes list of the world's highest-paid YouTube stars after earning a reported $10.5 million in 2017 — and that was just the beginning.

Now at age 34, Lilly Singh has made a name for herself not only as an actor, starring in The Muppets Mayhem, but also as a successful talk show host on A Little Late With Lilly Singh. These ventures have significantly contributed to her overall wealth, reaching an impressive estimated net worth of $20 million as of 2023.

Connor McDavid

If you're a hockey fan, chances are you're well aware of who Connor McDavid is and how immensely valuable he has proven himself to be as a player. The 26-year-old captain of the Edmonton Oilers, born and raised in Richmond Hill, Ontario, possesses such incredible talent that he is often compared to NHL legends Sidney Crosby and Wayne Gretzky.

In the summer of 2017, McDavid signed an eight-year contract with Edmonton worth a staggering $100 million, following a season where he more than lived up to the immense hype. As of 2023, he has just completed back-to-back seasons with over 100 points, solidifying his position as the highest-earning player in the NHL. There are several reports suggesting his estimated net worth is $30 million.

Lance Stroll

Lance Stroll is the son of a billionaire, so his $50 million net worth might not seem quite as hard-earned as some of the other athletes mentioned here. However, the 24-year-old's grit and talent displayed while representing Canada in Formula One cannot be denied.

Being born into privilege has also placed him under pressure, as he is entrusted with the responsibility of achieving podium finishes for Aston Martin, the sports car company and F1 racing team owned by his father, Lawrence Stroll.

Stroll's career as a driver has yielded a substantial $25 million in earnings from 2017 to 2022, supplemented by additional income from his sponsors.

Before jumping to conclusions or criticizing him for nepotism, it is important to acknowledge that Stroll has also received praise for his philanthropy. Back in 2020, he contributed to the California wildfire relief effort by donating $1,800 (reflecting his racing number 18) for each point he earned at the Belgian Grand Prix. In the end, he only scored two points, but he said that money was on top of a single donation.

Drake

If you've ever wondered who earns more between Canada's biggest pop stars and its star athletes, a simple look at Drake's net worth will clear the air.

The world-renowned rapper, whose real name is Aubrey Graham, both grew up and cut his teeth in Toronto, which he famously branded as "The 6ix." In fact, he has become so synonymous with the city that the Toronto Raptors appointed him as their global ambassador.

As of 2023, the 36-year-old's net worth stands at $250 million, which can be attributed to several factors. Not only has he released a consistent stream of successful albums like Views, Scorpion,Certified Lover Boy, and Honestly, Nevermind, but his brand October's Very Own (OVO) has expanded to encompass a record label, a clothing line, and even a full-fledged music festival.

If that's not enough evidence of his wealth, it's worth mentioning that Drake resides in a lavish $100 million mansion located in Toronto's prestigious Bridle Path neighbourhood.

The Weeknd

Believe it or not, when it comes to finances, The Weeknd has actually surpassed Drake by a significant margin of $50 million. While you might consider Drake to be the top figure in Canadian music, it's The Weeknd who takes the lead in terms of net worth.

As of 2023, the 33-year-old, whose real name is Abel Makkonen Tesfaye, has an estimated net worth of $300 million, primarily due to the tremendous success of his albums Beauty Behind the Madness, Starboy, After Hours, and Dawn FM.

The singer, who grew up in Toronto, has also launched a successful acting career in more recent years, making notable appearances in the film Uncut Gems alongside Adam Sandler in 2019 and taking on a starring role in the HBO original series The Idol alongside Lily-Rose Depp.

Justin Bieber

Despite making waves in the music industry a few years prior to The Weeknd, starting in 2008, and being four years younger, Justin Bieber, 29, has only rivalled his fellow Canadian icon's net worth, also racking up $300 million himself as of 2023.

However, Bieber, who grew up in Stratford, Ontario, did become the first artist to have seven songs from a debut record chart on the Billboard Hot 100, so he's probably not beating himself up too much over it.

The Biebs isn't only making money off his music, though. He also has massive endorsement deals with Calvin Klein and Tim Hortons, as well as his own successful clothing line, Drew House.

Apoorva Mehta

Being a millionaire is impressive, no doubt, but it doesn't hold a candle to being a billionaire. These days, that title seems to be reserved mainly for tech giants, entrepreneurs, and CEOs.

Apoorva Mehta fits right into this category. The 36-year-old is the founder and former CEO of Instacart, a grocery delivery service. As of 2023, his net worth stands at an impressive US$1 billion. Mehta's journey began when he moved from Libya to Hamilton, Ontario, at the age of 14. He later graduated from the University of Waterloo with a degree in electrical engineering.

Founded in 2012, Instacart has revolutionized the way people shop for groceries by providing convenient doorstep delivery services.

Mehta's creativity knew no bounds. During the early days of the company, he personally made deliveries using Uber, as he didn't own a car at the time. There were instances when orders would come in without an available shopper, so he took matters into his own hands.

In 2022, Mehta, who first became a billionaire at the age of 33, decided to step down as the company's executive chairman and transitioned off the board of directors upon the company's public listing.

Ryan Cohen

With a staggering net worth of $3.7 billion, it's no wonder that Ryan Cohen, a native of Montreal, attracts attention. However, when you examine his remarkable track record, the magnitude of his wealth becomes less surprising.

The 37-year-old is renowned for being the former CEO of Chewy, an online pet supplies store that he co-founded back in 2011. Under his leadership, the business experienced phenomenal growth, reaching an impressive annual revenue of $3.5 billion.

In 2017, Cohen made a significant move by selling Chewy to PetSmart for a whopping $3.4 billion, ultimately stepping down as CEO in 2018.

In January 2021, Cohen's fortune experienced a dramatic surge. This surge coincided with his appointment to the board of GameStop, a renowned video game retailer. The stock's price witnessed an unprecedented surge, orchestrated by Reddit traders, and Cohen reaped substantial financial gains during this time.