Methodology For Ranking The Richest Canadians
Estimated net worth of the richest Canadians was measured by Canadian Business magazine using the following criteria:
- Members of the 2010 Rich 100 had to be Canadian citizens.
- The cutoff date for valued assets was Sept. 30, 2010.
- Included in the calculations were financial transactions that occurred between Sept. 26, 2009 and Sept. 30, 2010, including the value of dividends and distributions received during that time period.
- Publicly traded securities were valued at the market close on Sept. 30, 2010. This was the date used for exchange rates applied to foreign investments as well.
- Privately owned companies were valued using a multiple of cash flows, earnings or sales. If these figures weren't available, industry experts were asked to give estimates, and private companies were compared to similar public companies. Debt, whether known or estimated, was subtracted from the value.
- Real estate values were based on estimates per square foot, less debt.
- Where companies or shares/units were sold, appropriate capital gains taxes were applied.
- Where assets were held by families or trusts, the focus was on who controlled the wealth.
- Conservative estimates of private investments were intentionally made. It's virtually impossible to determine the full extent of these holdings for every member. It's safe to assume the Rich 100 are worth more than the stated amount.
- Sometimes Canadian Business relied on estimates provided by the Rich 100 candidates themselves. In these cases, the magazine did attempt to independently verify the information.
- Occasionally, new information comes to light that can affect estimates of an individual's wealth.
Read more about this topic: List Of Canadians By Net Worth
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