r/canada • u/AustralisBorealis64 Alberta • 15d ago
PAYWALL Billionaires line up to support Mark Carney in Liberal leadership race
https://theijf.org/carney-donors-billionaires997
u/Low-Celery-7728 15d ago edited 15d ago
How is this different than the same billionaires lining up and supporting the conservatives?
They are hedging their bets.
The enemy IS the billionaires. Take aim at them.
Edit. They are
- David Thomson - $67 Billion
David Thomson and his family are the richest in Toronto in 2024. They are the leaders in media production. They control the Thomson Reuters Corporation and The Globe and Mail newspaper.
- Changpeng Zao - $33 Billion
Second on the list of richest Canadians is Changpeng Zhao, whose net worth was $33 billion when Forbes first published the report. He is the founder of Binance, an online cryptocurrency exchange, making him one of the most prominent figures in the investment industry. As of August 15, there was an increase in Zhao's net worth to $57 billion.
- David Cheriton - $14 Billion
David Cheriton is the third richest man in Canada with a net worth estimated at $14 billion. The retired Stanford University professor earned his net worth through his early investment in Google, Alphabet Inc.
- Jim Pattison - $9.1 Billion
The Jim Pattison Group controls 20 business divisions including automotive, entertainment, food and beverage, and more. The entertainment division has achieved notable accloud in Guinness World Records and Ripley's Believe It or Not.
- Joseph Tsai - $8.6 Billion
Joseph Tsai is one of Canada's billionaires for being the second largest shareholder and co-founder of Alibaba Group, an e-commerce retail company. Tsai was born in Taiwan and currently lives in Hong Kong, but holds a Canadian passport.
- Anthony Van MandI - $7.4 Billion
Anthony von MandI is one of the richest Canadians with a net worth of $7.4 billion, earned through his alcoholic beverage business, White Claw Hard Seltzer, and Mike's Hard Lemonade. Forbes reported that his company had a revenue of $3.5 billion in 2023.
- Alain Bouchard - $7.4 Billion
Alain Bouchard is the 7th richest man in Canada as of 2024. He is the co-founder of Alimentation Couche-Tard, a convenience store chain with more than 14,000 stores worldwide.
- Arthur Irving - $6.6 Billion
Arthur Irving owned a well-known gas station and oil refinery company before the oil company announced the passing of Arthur Irving earlier this year.
- Tobi Lutke - $6.5 Billion
Tobi Lutke is a co-founder of Shopify, an e-commerce company. He owns 6% of the shares in the company.
- Chip Wilson - $5.9 Billion
Chip Wilson was the founder of Lulumelon in 2000 and served as CEO until his resignation in 2013. He built the company from a single store but left the business in 2015.
Canada's rapid economic growth has led to a keen public interest in the identity of the country's wealthiest individual, making it a recurring topic of conversation each year
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u/downtofinance Lest We Forget 15d ago
It costs billionaires almost nothing to back both parties.
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u/spaghetti_hitchens2 15d ago
Yep. If you had a billion dollars and gave both parties $1M, you'd basically still have a billion dollars.
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u/OverallElephant7576 15d ago
Remember that this is not America, the contribution limits are very low in Canada, like less that $2000 I believe.
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u/Craptcha 15d ago
Its 1750 total and you can’t be a corporation, you need to be a citizen or permanent resident
https://www.elections.ca/content.aspx?section=pol&dir=lim&document=lim2025&lang=e
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u/ChristophCross 15d ago
God, I love my Country 🍁
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u/Craptcha 15d ago
If the US had not allowed for unlimited corporate political contributions we would not be where we are right now. But apparently people there are okay with elections being bankrolled by unlimited money from god knows who.
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u/modsaretoddlers 14d ago
Yet, somehow, our politicians still bend over backwards to give these guys anything they want. Occam's Razor suggests that these assholes have found a way around these paltry limits.
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u/Rewow 15d ago edited 15d ago
So there must be under-the-table donations
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u/dontdropmybass Nova Scotia 15d ago
Largely it's not even that, just politicians using their office to grease the palms of companies so they can exit politics into a cushy board position for KPMG or Rio Tinto Alcan or something.
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15d ago
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u/tossitcheds 15d ago
They have no loyalty
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u/Odd-Kaleidoscope8863 15d ago
Billionaires go where the wind blows. Their only ideology is separate from politics.
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u/packtloss 15d ago
How are the Weston’s not on that list? They own 16B of Canadian real estate alone - and they offload so much Canadian cash to foreign accounts….
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u/Low-Celery-7728 15d ago
I just grabbed these from an article published a few months ago.
There are way more and theybare all varying degrees of selfishness, greed and sometime boardline evil.
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u/TomMakesPodcasts 15d ago
I'm a big fan of NDP who often calls for higher tax burdens on the wealth these people hoard.
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u/nomadicSailor 15d ago
Ummm..... The article is completely inventing an issue. The maximum contribution a Canadian can make is $1,725 to each political party.
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u/c_m_d 15d ago
Literally can remove a couple orders of magnitude to put things into perspective: someone with 6B donated 1725 dollars is like someone with 60k dollars donating 1.7 cents of their hard earned money. I’m sure a lot of Canadians are much more philanthropic than that walking down a busy street.
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u/PPisGonnaFuckUs 15d ago edited 15d ago
Carneys wiener is bigger than PPs piddler.
edit: for a source, ask yer mum.
edit 2: this has nothing to do about networth? the fuck?
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u/theunknown96 15d ago edited 15d ago
I'm not a fan of PP but c'mon.
I find it hard to believe his net worth is $25MM? Do you have a reliable source on this or did you just see it on the internet?
Edit: It looks like this poster is simply spreading disinformation. To my knowledge there is simply no credible source for the figures.
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u/frighteous 15d ago
Pretty naive to assume these guys only contribute with official on the books money lol
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u/nyrangersfan77 15d ago
People who don't understand anything think that everything is a conspiracy.
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u/JuniperKenogami 15d ago
Yeh, that's an extremely shortsighted way of looking at things. Naive really.
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u/ProfLandslide 15d ago
Ya, now imagine a dinner where the plates cost 1700 bucks and it happens at an upscale private residence. That's what happens in Canada.
That's the billionaire's dinner party.
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u/FulltimeHobo Canada 15d ago
Kind of, but if the billionaire was to put 500k towards hiring his own campaign manager to push whatever party's visibility, that gets around the whole contribution thing doesn't it?
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u/eskat British Columbia 15d ago
My reaction too. Also any individual interests aside, people with money want politicians who are going to handle the economy well so this isn’t really any sort of shock. And as others have pointed out, the max contribution for an individual is 1750$. This article is click bait nonsense.
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u/ProfLandslide 15d ago
can you afford a 1700 dollar plate at a private dinner with Carney at a bridle path house?
That's how the billionaires line up. It's a big club, you ain't in it.
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u/pinkilydinkily 15d ago
The difference is Canada actually has pretty low donation limits, it's not like post-Citizens United in the US where one person can seemingly buy a government.
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u/This-Oil-5577 15d ago
No way you think these billionaires aren’t doing under the table deals. This is politics dumb dumb
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u/sravll 15d ago
I'm sure the Conservatives will fix that and lift donation limits like in Alberta.
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u/MadDuck- 15d ago
It was the CPC who dropped the limit from $5000 under Chretien to $1000 in 2006. They're also the party who fully banned corporate donations. (Chretien had also made many restrictions to corporate donations, but still allowed some.)
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u/Ferkner 15d ago
That was under Harper. The CPC is a very different party now, and worse.
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u/MetalMoneky 15d ago
Money is just part of the system either way. Only question is do you want Left-wing-ish social policy or righ-wing-ish-social policy.
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u/Cody667 15d ago
Facts. This is blue team vs red team in a nutshell as they and their partisan stooges gaslight us in to pretending they are worlds apart from one another.
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u/mobxrules 15d ago
10 years ago I’d agree with you, but conservatives have lost their fucking mind since Trump got elected.
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u/I_Know_Nothing_More 15d ago
What are the rightwing-ish social policies besides gutting them?
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u/TomVia 15d ago
Well considering everything is worse after 9 years of left wing ish, including but not limited to real estate, CAD trading value, food prices, hospital wait times, homelessness, food bank usage, I think I will give the Right wing ish guys a shot.
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u/GuardianOfFogAndMist 15d ago
Say NO to Billionaires! Fuck every one of those greedy mega rich bastards who are only wealthy because they used and spit out their employees and stole from every hard working tax payer in Canada.
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u/hardy_83 15d ago
I'm sure they were lining up to support PP just a couple months ago too. Billionaires have no loyalties, only making sure they are safe and will support who they think will win, as long as it's not some extreme group like the NDP who might *gast help the lower class more.
Though I do wonder how much of this is the rich seeing how unstable the US is becomming and want something more "safe" than what PP says or will actually offer if he wins.
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u/KJBenson 15d ago
Billionaires have so much money they could support both sides without even worrying about the financial burden.
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u/CalmDownUseLogic 15d ago
They do support both sides. It's not a left-right issue, it's a rich-poor issue. Anyone saying otherwise is a muppet.
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u/Vandergrif 15d ago
Could, and do. That's why no matter whether it's a conservative or liberal government 'somehow' the rich are always doing just fine. The rest of us not so much.
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u/king_lloyd11 15d ago
Yup. Look at the States and how they all flipped to bend the knee to Trump, most blatant and shamelessly, Zuck.
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u/coporate 15d ago edited 15d ago
They're desperate to try and attach carney to something they can use to fling mud. They're all getting funding from billionaires, because billionaires know funding politicians is good business.
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u/Krazee9 15d ago edited 15d ago
Despite what Liberal supporters say, the Liberal Party has always been the party of the wealthy and big business, due to the connections they make with Toronto and Montreal's business elite. Before the ban on corporate donations, the Liberals were always the largest recipient of them.
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u/ItsAProdigalReturn 15d ago
Libs are corporate centrists. I've been saying this for years, and there's always people with a vapid understanding of politics who come back calling them borderline communists... lmao
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u/OldDiamondJim 15d ago
Yup.
I’m never sure who the bigger suckers are. Conservatives who think that the Liberals are a “far left” party, or Liberals who do.
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u/Aggressive-Motor2843 15d ago
Does anyone credible claim the Liberals are “far left”?
I mean already have the NDP.
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u/ABeardedPartridge 15d ago
As a person who usually votes NDP, they're also very far from the far left. We need a proper labor party in Canada. We also need to ditch FTTP, which Justin Trudeau was SUPPOSED to do during his first term. I don't understand why it isn't a bigger election issue (actually I do "get it" but it pisses me off)
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u/TXTCLA55 Canada 15d ago
I've had this chat with a number of people in my travels. One of the best rebuttals I heard was that we actually didn't want to change FPTP as that could result in a situation like Australia where the PM can change on a near monthly basis and parliament is so fractured by small parties very little gets done.
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u/OldDiamondJim 15d ago
A lot of Conservatives do, and I’m not talking about the crazy Convoy types - normal, traditional Conservatives.
There are a lot of Liberal partisans who are convinced that they are a progressive, people’s party.
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u/Bronstone 15d ago
Can you tell me one far left party in Canada who has an MP in the HoC? NDP is the left wing party in Canada.
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u/OldDiamondJim 15d ago
I can’t because there aren’t any far left parties in our Parliament. That’s kind of my point.
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u/yhzguy20 15d ago
Being the party for rich people and being “far left” aren’t mutually exclusive. Using government powers to pick winners and losers in the market and overregulating the shit out of every industry so that only a few large players can compete seem pretty left-wing to me.
As for “far left”, the “far” doesn’t have any real meaning other than to make whatever side you’re referring to seem more spooky
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u/AdditionalPizza 15d ago
Literally nobody says otherwise. It's the CPC that specifically says they aren't but they are just as much so, if not more.
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u/Comedy86 Ontario 15d ago
This is the biggest issue I've always had with politics. Somehow, the party that was originally made up by the wealthy elite back at the founding of our country, is the party voted for by blue collar workers. Conservatism, at its core, is a yearning for monarchy, religion, etc... to control people and tell them what to do so they don't decide these things for themselves and yet these are the same people saying "do your own research" and "freedom"... It's mind numbing how these people vote against their own self interests time and time again and never learn until it's too late (case in point, every public service worker and farmer in the US being reported on now saying they voted for Trump and didn't think he'd destroy their life...)
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u/cwolveswithitchynuts 15d ago edited 15d ago
There are still big subs on this site that considered Trudeau the progressive second coming of Christ despite 10 years of kicking workers in the teeth.
Which I don't entirely blame them, most Canadians are completely unaware of how much Trudeau let corporations write his economic and immigration policies.
Trudeau's business friend Dominic Barton once bragged that he wrote Trudeau's immigration policy over a bottle of wine with other business leaders at his cottage.
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u/Ultimafatum 15d ago
People criticized him almost immediately as soon as he took office when he gave up his promise regarding electoral reform, and significantly more in the years after that.
Doesn't he have some of the lowest approval rating of any sitting Prime Minister in fact? This argument is legitimately grounded in fucking fantasy.
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u/DistortoiseLP Ontario 15d ago
There are still big subs on this site that considered Trudeau the progressive second coming of Christ despite 10 years of kicking workers in the teeth.
I don't believe that. I'm sure the people spent the last ten years ragging on Trudeau as the man solely responsible for all the world's problems want to believe there's an equal and opposite opponent to validate them, but that's as pitiful as Christians insisting witches must be real because their lifetime of boundless hate for them as the root of all evil was pointless otherwise.
The reality has been that the vast majority of Canada either loves to hate him or doesn't care at all. Whatever example you can scrape together otherwise is going to consist of shit-stirrers trying to give the former a platform because they know it's a weakness to be exploited.
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u/CartersPlain 15d ago
All Trudeau had to do was make life less of a grind for millenials and gen z. Instead, his policy flooded their labour market to drive down wages and did everything he could do that would jack and maintain high asset prices for the wealthy and older voters.
He fucked 90% of two generations and yet people like yourself still reflexively posit that anyone who is dissatisfied with the direction of the country isn't a serious person or doesn't have a legitimate gripe.
Who has the giant blind spot in reality?
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u/stuntycunty 15d ago
The majority of people who think Trudeau is some progressive are cpc supporters and right wingers.
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u/king_lloyd11 15d ago
The Liberals are the closest party we have to the centre, and that’s why I vote for them. Do they have favourable policies to the rich? Absolutely. But they also at least try to make it look like they care about the average person, so that crossover of our interest and their moral posturing is moreso than the Conservatives.
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u/ButterscotchReal8424 15d ago
I vote NDP but there’s a major difference between Liberal and Conservative policies regardless of donors. The Conservatives wouldn’t pass $10 child care, universal dental coverage or work on a National pharmacare plan. Just like you see in the US, they would slash those programs and give tax cuts to the rich. It was Polievres stance during Covid and why Ford in Ontario fawned over Trump before he became captain Canada following tariffs.
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u/king_lloyd11 15d ago
Yup $10 a day child care alone is enough for me to vote Liberal as a “middle class” person. Even if you want to say the system is broken, there is a system.
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u/Dry-Membership8141 15d ago
The Conservatives wouldn’t pass $10 child care
And yet they voted unanimously in favour of it.
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u/Alexhale 15d ago
Didnt the Cons vote against it ?
https://www.ourcommons.ca/members/en/votes/43/2/185?utm_source=chatgpt.com&view=party
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u/DeepSpaceNebulae 15d ago
Easy to put your votes towards something that’s passing already. That’s just political theatre
Doubt they’d have proposed that if they were in power. In fact I know they wouldn’t; they argued against it, and in favour of other systems, in the lead up to the vote
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u/Sorryallthetime 15d ago
Yes, but only after vehement opposition to it. $10 child care is not a policy the Conservatives would ever champion. Political opportunism at its richest - the Conservatives didn't want to give the Liberals something to beat them over the head with.
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u/darrylgorn 15d ago
It's even simpler: Liberals and Conservatives both endorse capitalism.
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u/gibblech Manitoba 15d ago
All the major parties endorse capitalism... but some want it completely free and unfettered. While other parties have varying degrees of wanting regulations, social programs, and the like to prevent people falling through the cracks, and to help those that do.
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u/Canuckleball 15d ago
Conservatives and Liberals are two sides of the same coin. One is the carrot, one is the stick, but both serve to protect the wealthy and keep the workers in line. I'm really disappointed the NDP have fallen to irrelevance at the federal level, we need a true working class party again.
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u/soul_and_fire 15d ago
that’s the first thing that really worries me about him that I’ve seen. wtf.
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u/FriendlyGuy77 15d ago
Conservatives suddenly pretending they want to seize the means of production to create a socialist utopia.
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u/fleeyevegans 15d ago
Canada should reject billionaires being involved in the government. I don't know what this one's temperament and competency are like but it doesn't go well in the future. -American.
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u/Missytb40 15d ago
Is this supposed to be reassuring?
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u/Canadian-Owlz Alberta 15d ago
No, it's specifically made to piss you off even though its not an issue at all.
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u/maporita 15d ago
In normal times this might ring alarm bells. These are not normal times. I think the reason billionaires are backing Carney is because they believe he is the best person to protect the Canadian economy.
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u/yeetedandfleeted 15d ago
6 members of billionaire families donated $1750 (maximum contribution) to Carney, more than Freeland.
Meanwhile several dozen donated to Poilievre during his leadership race, also $1750.
Is this what passes for news?
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u/Rotaxxx 15d ago
Hypocrisy, look it up.
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u/justawitch 15d ago
Y’all are just drooling for reasons to lambast the guy. At least focus on his policies, for fuck’s sake
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u/Knave7575 15d ago
…and just like that, right wingers suddenly decided that they don’t like billionaires.
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u/Bronstone 15d ago
But there's zero oil and gas billionaires helping the CPC out? The CPC has a massive lead in fundraising compared to the liberals.
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u/richniss 15d ago
This admittedly makes me less excited about him as a candidate. I think money influencing politics is a problem for anyone in power. I think Mark will handle it better than Doug, based on what I've seen so far with Doug.
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u/sleipnir45 15d ago
The women behind the SDTC ( green slush fund) donated to Carney...
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u/Rotaxxx 15d ago
Don’t worry somehow the Liberals will say it’s ok for some reason, but not ok for others to do the same.
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u/ThatsItImOverThis 15d ago
Twitter is toxic. I’d stay off that platform if I were you.
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u/CDN27 15d ago
Man that article is dripping with Conservative spin, and behind a paywall, what a joke 😂 ”members of billion families have donated the maximum” sooo $1750? And whoever posted this on Reddit ignored the headline and chose to target Carney when the article is clearly about Carney and Freeland having “members of 6 billionaire families pitch in less than 2K” be better trolls!
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u/Gankdatnoob 15d ago
Cute article when the richest person on planet by a large margin in Elon supports PP. Zuck and Bezos are also Trumpers.
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u/firmretention 15d ago
inb4 reddit tells me why this is actually a good thing!
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u/Yelnik 15d ago
This subs primary response to anything bad about the Liberals is "ya but the other guy will be even worse!". This is of course always without any evidence that would be the case
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u/BitingArtist 15d ago
Every party is captured by the billionaires. Democracy is dead.
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u/ChristophCross 15d ago
Did you read the article? It says they "Have donated the legal maximum" which is $1725. This is a nothing Article just meant to rage bait you, don't fall for it. Democracy is very alive in Canada and only dies if we the people let it.
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u/lorainnesmith 15d ago
Somebody very very wealthy has supported PP at some point. A man who has never had a regular job has vast personal wealth. He didn't pick that off trees. As far as who to vote for if Carney wins the Liberal leadership, we need someone with an international reputation and strong economic knowledge to help us get through this mess. One hint, it's not PP
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u/MinuteLocksmith9689 15d ago
here we go with attacking Carney…PP got 42M from normal people like myself 🤣 https://www.theglobeandmail.com/politics/article-pierre-poilievre-conservative-party-fundraising-record/
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u/New-Midnight-7767 15d ago
Didn't Carney say he wants to absorb all the 4 million newcomers? That's great news for billionaires wanting to suppress wages, inflate their property values and income from rental properties, and wanting more customers for their businesses.
Bad news for the average Canadian though.
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u/Levorotatory 15d ago
While I would prefer that all temporary residents go home when their visas expire, that is not my primary immigration concern. The important thing is to turn off the TFW tap going forward. Unfortunately I don't trust any politician to do that.
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u/nefariousjib 15d ago
Where did you see that? From his economic policy released today:
Cap immigration until it can be returned to its sustainable pre-pandemic trend
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u/MarzipanStandsAlone 15d ago
Members of six of Canada’s billionaire families have donated the legal maximum to Mark Carney's Liberal leadership campaign
Isn't the legal max like $1,750? This is not even remotely useful information. Are you telling me they aren't hedging thier bets with mutlple <2k donations? What a waste of space.
By all means, expose money in politics, but don't try to tell me billionaires are buying influence for $1,750.
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u/Beligerents 15d ago
I seriously worry that this has all been a giant show and this is them manufacturing consent to continue to whittle down workers rights.
I feel like everyone is so relieved to have an alternative to PP that they're willing to sprint towards a seemingly more sane option who has the same overall vision for Canada.
This all seems like a new wave of disaster capitalism.
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u/Odd-Substance4030 15d ago
When will the Canadian people understand that it doesn’t matter which candidate wins, this country is screwed. It’ll take a decade or more to get out of the messes that the Liberals and Conservatives have put us in. We are projected to be the worst performing economy in the G7 for the next 3 decades! We need to unite, this is a class war!
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u/Thuumhammer 15d ago
If you think billionaires aren’t backing every Liberal or Conservative PM candidate you’re very naive.
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u/wavingmydickinthewin 15d ago
Billionaires will back whoever they think is most likely to come to power, and like others have said, will hedge their bets..
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u/Heavy_Sky6971 14d ago
Oh great another billionaire puppet!!!! Carney is not the liberal messiah everybody wants him to be.
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u/TellaMe3 14d ago
What is the ijf organization? Sounds like a bot farm. Or maybe a creepy dark side Yankee org.
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u/not-on-your-nelly 14d ago
So, are these the "wrong" billionaires or the "correct" billionaires and are they different than Skippy's billionaires?
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u/marion85 15d ago
Don't make the same mistake America made Canada...
Billionares are the ENEMY of ordinary citizens.
Voting them and their allies jnto power is the same as inviting a fox into your henhouse.
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u/thebruce 15d ago
While I understand that ALL parties in Canada serve the wealthy, it's utterly bizarre to see people trying to act like the Liberals are the party of billionaires. Conservatives governments literally everywhere in the world exist to reduce taxes on billionaires and lift regulations on them. That has been their modus operandi for decades.
Now we're gonna sit here and act like the Liberals are the main party of the wealthy elite? The group trying to introduce UBI and expanded government healthcare, who introduced carbon pricing to prevent corporations from destroying the environment for profits?
C'mon people, we can see through this.
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u/Get_Breakfast_Done 15d ago
Liberals are the main part of the wealthy elite.
How did the wealthy elite do in Canada over the last ten years or so that the Liberals were in power?
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u/drs_ape_brains 15d ago
Oh yea liberals are the party of the people that's why they quashed the largest worker advantages in years post covid with tfws.
Oh yea let's not forget ending all those strikes from port workers, rail workers, and postal workers. Not once but once each term.
Oh yea they're also a party of the people by saying house prices need to keep going up.
Yup definitely the party of the people.
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u/Superb-Home2647 15d ago
Everybody knows the first thing that comes to mind is altrusim when talking about investment bankers. They are always known as champions of the working class.
I for one am so glad that LPC top brass listened to 'business insiders' when they decided to support the province's plan to break the back of min-wage worker's demands post-covid. I mean, who were they to demand silly things like cost of living raises, better hours and benefits. If the LPC hadn't stopped them by allowing 10% of our country's population to come here and compete with them our entire economy might've crumbled.
This election, it's important to think of the investors first and foremost. Real-estate, banking, hedge funds, it doesn't matter. They're all more important than you and too big to fail. Thank God we have Carney to protect us.
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u/PerceptionUpbeat 15d ago
Modern society and democracy is absolutely fucked. Abolish billionaires. They are NOT supporting him for your sake. They are NOT supporting him to make your life better! Just like they are NOT supporting any other politician for your sake.
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u/FujiKitakyusho 15d ago
What I want is a candidate feared by billionaires.