RIM co-CEOs Mike and Jim make the 2011 Rich 100 List but their wealth plunges yet again

Posted by Knowlton Thomas on 2011-10-07 8:00:00 AM

Canadian Business has released its 2011 Rich 100 List.

The list looks at Canadian billionaires (and is rounded out by a few hundred-millionaires) and billionaire families. The wealthiest in the tech space is the Rogers family at number four, which owns—you guessed it—Rogers. Worth a smidgen less than $6 billion, their rank remains unchanged from last year and their wealth is also in tact, slipping just 1%.

There are others on the list in tech, such as Google's David Cheriton, who is worth a cool 1.6 billion (up 2.5%), and the Peladeau brothers of Quebecor fame who combine for a net worth of over $600 million (down 9%).

Perhaps most notable are the two CEOs of Waterloo's rollercoaster tech legend, Research In Motion. These guys are plenty rich, to be certain, and they've been good with their wealth, funding research and innovation in the Waterloo region. But when your company's stock goes from a high of $144 to a low $20 in just a few years, your wallet's going to feel a little lighter regardless.

Mike Lazaridis clocks in at number 51, his worth down a staggering 36%—enough to drop him 27 rankings. His pal Jim Balsillie didn't fair any better: with a wealth drop of nearly 39%, Jim slipped from number 30 all the way to 56.

You can't really feel sorry for guys who are worth $1.3 and $1.1 billion respectively, but still… you can say, "oh, that's too bad," or something.

Photo: Financial Post

Company:
Research In Motion
Website:
http://www.rim.net
Location:
Waterloo, Ontario, Canada

BlackBerry (Research In Motion) is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. RIM's portfolio of award-winning products are used by thousands of organizations around the world and include the BlackBerry® wireless platform, software development tools, and software/hardware licensing agreements. more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the Associate Editor of Techvibes. A Vancouver-based writer and author, Knowlton has been published in national publications and has also appeared on television and radio. He has written two ebooks and more are in the works. Previously, he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing... more



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