# GTA Top Income Earners



## ddkay (Nov 20, 2010)

Interesting data to look at. This list is from TL. They aren't including everybody though, it's mostly a selection of famous people.

$61,809,737 FRANK STRONACH MAGNA INTERNATIONAL
$34,590,902 SHELDON INWENTASH PINETREE CAPITAL
$27,037,800 ERIC SPROTT SPROTT ASSET MANAGEMENT
$20,977,189 BELINDA STRONACH MAGNA INTERNATIONAL
$14,361,828 BILL WELLS VALEANT PHARMACEUTICALS INTERNATIONAL
$11,851,885 GORD NIXON ROYAL BANK OF CANADA
$11,426,795 ED CLARK TORONTO-DOMINION BANK
$10,658,333 RICHARD WAUGH BANK OF NOVA SCOTIA
$10,000,000 RUSSELL PETERS COMEDIAN
$9,927,227 PETER MARRONE YAMANA GOLD
$9,913,000 GERRY MCCAUGHEY CIBC
$9,780,000 JOSÉ CALDERÓN TORONTO RAPTORS
$9,592,240 AARON REGENT BARRICK GOLD
$9,542,600 WILLIAM DOWNE BANK OF MONTREAL
$9,301,170 TYE BURT KINROSS GOLD
$9,291,346 DONALD GULOIEN MANULIFE FINANCIAL
$8,580,492 NADIR MOHAMED ROGERS COMMUNICATIONS
$8,265,495 DONALD STEWART SUN LIFE FINANCIAL
$8,229,040 GERRY SCHWARTZ ONEX
$8,225,600 JOSE BAUTISTA TORONTO BLUE JAYS
$8,028,632 ALLAN LEIGHTON GEORGE WESTON LTD.
$7,047,824 MICHAEL MCCAIN MAPLE LEAF FOODS
$6,959,544 STEPHEN WETMORE CANADIAN TIRE
$6,683,300 DION PHANEUF TORONTO MAPLE LEAFS
$6,282,192 MILES NADAL MDC PARTNERS
$5,231,534 EDWARD SONSHINE RIOCAN REAL ESTATE INVESTMENT TRUST
$5,217,949 JIM BALSILLIE RESEARCH IN MOTION
$5,217,949 MIKE LAZARIDIS RESEARCH IN MOTION
$4,501,087 ELLIS JACOB CINEPLEX
$4,000,000 BRYAN COLANGELO TORONTO RAPTORS
$3,922,340 JIM LEECH ONTARIO TEACHERS’ PENSION PLAN
$3,810,630 DRAKE MUSICIAN
$3,275,807 JÜRGEN SCHREIBER SHOPPERS DRUG MART
$3,253,035 MICHAEL NOBREGA OMERS
$3,000,000 BRIAN BURKE TORONTO MAPLE LEAFS
$2,533,000 BILL HOLLAND CI FINANCIAL
$2,006,959 EDWARD ROGERS ROGERS COMMUNICATIONS
$1,964,629 JULIAN DE GUZMAN TORONTO FC
$1,147,315 BRENT CHAPMAN IAM CORP.
$1,030,804 JOHN CRUICKSHANK TORSTA
$831,432 ROBERT BELL UNIVERSITY HEALTH NETWORK
$809,828 ROBERT PRICHARD BOARD DIRECTOR
$800,000 PHILLIP CRAWLEY GLOBE AND MAIL
$772,126 MIKE HARRIS MAGNA INTERNATIONAL
$716,316 DENE ROGERS SEARS CANADA
$698,720 WILLIAM MORIARTY UNIVERSITY OF TORONTO
$673,574 MELINDA ROGERS ROGERS COMMUNICATIONS
$644,057 PREM WATSA FAIRFAX FINANCIAL HOLDINGS
$600,000 DAVID THOMSON THOMSON REUTERS
$499,187 DAVID PETERSON BOARD DIRECTOR
$466,595 BRUCE MCCUAIG METROLINX (AND MINISTRY OF TRANSPORTATION)
$416,866 MAUREEN SABIA CANADIAN TIRE
$400,000 HEATHER REISMAN INDIGO BOOKS AND MUSIC
$350,122 DAVID MILLER CITY OF TORONTO
$328,977 BILL BLAIR TORONTO POLICE SERVICE
$327,952 JOE PENNACHETTI CITY HALL
$312,862 MATTHEW TEITELBAUM ART GALLERY OF ONTARIO
$289,956 CHRIS SPENCE TORONTO DISTRICT SCHOOL BOARD
$260,000 JANET CARDING ROYAL ONTARIO MUSEUM
$250,000 CHRISTIE BLATCHFORD NATIONAL POST
$250,000 PIERS HANDLING TIFF
$250,000 ALBERT SCHULTZ SOULPEPPER
$233,247 JIM FLAHERTY FEDERAL GOVERNMENT
$204,167 ROBERT DELUCE PORTER AVIATION HOLDINGS
$180,883 GARY WRIGHT CITY OF TORONTO
$167,770 ROB FORD CITY OF TORONTO
$138,289 HAZEL MCCALLION CITY OF MISSISSAUGA
$99,619 DOUG FORD CITY OF TORONTO
$90,000 MICHAEL ONDAATJE WRITER


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## KaeJS (Sep 28, 2010)

ddkay said:


> $9,542,600 WILLIAM DOWNE BANK OF MONTREAL


Even though I knew this already, it still makes me die a little inside.


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## carverman (Nov 8, 2010)

ddkay said:


> They aren't including everybody though, it's mostly a selection of famous people.
> $10,000,000 RUSSELL PETERS COMEDIAN


Didn't know that comedy paid so well!


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## slacker (Mar 8, 2010)

Russell Peters is an international superstar now.


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## hystat (Jun 18, 2010)

how does someone earn exactly 10 million and not a penny more or less over the course of a year?


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## Abha (Jun 26, 2011)

All these figures are composite estimates. 

Russel Peters doesn't even live in Toronto anymore as I remember reading that he now resides in LA.

Comedy can pay well if you are at the top. Louis CK grossed over $1 million in a few days off a $5 special. Being the awesome guy that he is, he donated most of it and gave a good chunk to his staff.


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## andrewf (Mar 1, 2010)

^ I really like that business model for content delivery. Only works for well-established talent, though.

This list left me scratching my head. Missing are some prominent local billionaires.


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## Homerhomer (Oct 18, 2010)

ddkay said:


> *$9,291,346* DONALD GULOIEN *MANULIFE FINANCIAL*
> 
> *$8,265,495* DONALD STEWART *SUN LIFE FINANCIAL*
> *$5,217,949* JIM BALSILLIE *RESEARCH IN MOTION*
> *$5,217,949 *MIKE LAZARIDIS *RESEARCH IN MOTION*


The list is so inaccurate and incomplete that it reminds me of worst dressed category, either way found the four above to be truly deserving the compensation ;-)
A guy from Yellow Media is missing from the bunch ;-)


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## Sampson (Apr 3, 2009)

$9,780,000 JOSÉ CALDERÓN - C'mon Man?!?

This has to be the most overpaid person on the list. Pay a mere $2M more and Steve Nash could be starting.


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## kcowan (Jul 1, 2010)

I am pleased to see that Mike and Jim are contributing $10.4 million to the bottom line of RIM. I am wiling to bet that they are still on this list next year. Such is the pitiful power of our business press. Most of their income comes for cheap options. But Frank (Magna) will not be on the list next year, I hope.


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## kcowan (Jul 1, 2010)

Did you notice those UofT board members? That's it! No more contributions from me...


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## humble_pie (Jun 7, 2009)

kcowan at first glance i thought wowza. kcowan. nailed. it. U. of. T. is. fat. city.

but then i looked further. There's only one from the U of T, a certain william moriarty. He's only making a mere 698k & change. Heck, even square root in this forum rakes in more than that, or at least root says he does.

back to mister moriarty, turns out he heads the U of T's asset management corporation. This is a key position. It's right up there with chancellor & president of the university. And there's more. Moriarty was previously vice-chair of RBC capital markets, where he had enjoyed a glittering banking career spanning more than a quarter of a century.

bref kcowan your friend took a sizable cut in pay when he semi-retired from RBC to head up the U of T's endowment fund. For him, that 698k is chump change. In a way, you could say mister moriarty is volunteering his services.

do you not think we should applaud such noblesse oblige


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## Abha (Jun 26, 2011)

humble_pie said:


> For him, that 698k is chump change. In a way, you could say mister moriarty is volunteering his services.


Guaranteed he gets more than that through some bonus structure or outside benefits (free living expenses, car allowance etc)


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## humble_pie (Jun 7, 2009)

who doesn't get non-salaried benefits. These days they don't take taxicabs or even limos, they take house helicopters.


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## sags (May 15, 2010)

As a retired union man...........and a staunch defender of defined benefit pensions......I am embarassed at the salaries paid to the heads of OMERS and the Ontarion Teachers Pension Fund.

Sure the funds need good management.......but give me a break.

They can't find anyone competent to run the funds for less than 3-4 million a year?

I suggest they look harder.


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## sags (May 15, 2010)

The top CEOs earn the average Canadian salary in 3 hours.

CEO salaries rose 27% last year, while average salaries fell.

The gap gets bigger and bigger.

http://business.financialpost.com/2...s-make-average-workers-salary-in-three-hours/


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## OhGreatGuru (May 24, 2009)

So, some people are rich, and lots of people are less rich. How is this news? Other than to satisfy the public's nosiness.

It would have been nice if they had identified the source(s) for their figures. The salaries of public officials and executives of public agencies are published. The salaries of CEO's of corporations can sometimes be found from annual reports or regulatory filings, particularly if they are listed on US exchanges. But how the heck would they know the "salary" of a writer like Michael Ondaatje? (Unless he volunteered it to provide a contrast?) Doesn't he earn royalties? (I see from Wikipedia that he does have one or more "jobs" as an editor. I guess writing alone doesn't pay well in Canada.)

The "salary" of a multi-billionaire is likely to be a poor indicator of their overall income anyway.


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## Charlie (May 20, 2011)

I guess it's a cross section, rather then a top earner list??? Only 3 Leafs and 2 Raptors -- and less then 50 people making more then $90K? Interesting though.

Christy Blanchford at $250K surprises me. I thought journalists were poorly paid. The public company exec salaries -- esp at Magna -- are pretty sick. Per the FP article, corporate pay for the top 100 increasing from 105X average earner to 190X since 1998. No way to justify that.


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## MoneyGal (Apr 24, 2009)

Blatch is a celebrity journalist. 

Payscale.com says a Toronto newspaper journalist earns an average salary of $40K.


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## Four Pillars (Apr 5, 2009)

MoneyGal said:


> Blatch is a celebrity journalist.
> 
> Payscale.com says a Toronto newspaper journalist earns an average salary of $40K.


I'm still surprised she makes that much. I wonder if that is just from her newspaper or all income sources?

I wonder how much Rob Carrick makes?


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## andrewf (Mar 1, 2010)

Speaking of exec compensation--has anyone read Roger Martin's new book 'Fixing the Game'? I read it, and agreed with some of his prescriptions, but struggled with his philosophy that corporations should not exist to maximize shareholder value. His argument seems to be that in the pursuit of maximizing shareholder value, companies and executives actually fail due to perverse incentives, and might actually succeed better by trying to serve their customers well while ensuring an acceptable (rather than maximal) level of return for shareholders.

I think it might be simpler to think it terms of eliminating short-term stock price performance-based compensation for executives and moving to real market-based performance objectives and long term share price performance (ie, 10-15 years). I agree with a lot of what he says about analysts and the expectations management game and how destructive it is for companies and their executives.


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## Cal (Jun 17, 2009)

I was surprised to see that the TO previous mayor makes more than the current mayor.


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