Executive Summary
The 99% Reset is a global, non-violent movement aimed at redistributing economic power from the top 1% to the broader population through targeted boycotts, tax activism, unionization, and community ownership structures. In Canada, where 61 billionaires control $324 billion in wealth amid record inequality (top 20% holding 64.7% of net worth), focusing efforts on high-impact individuals maximizes leverage.
This paper identifies seven priority billionaires based on criteria aligned with the Reset's phases: (1) scale of wealth concentration and its role in perpetuating debt-fueled consumption; (2) direct contributions to systemic harms like tax avoidance, fossil fuel financing, housing speculation, and luxury emissions; and (3) vulnerability to coordinated action (e.g., public exposure, divestment campaigns).
Selection draws from Forbes 2025 data, CRA estimates, and reports from Canadians for Tax Fairness (C4TF) and Oxfam. By starving these "parasites" via bank switches, co-op alternatives, and policy advocacy, the Reset can unlock $10-15 billion annually in redirected revenue for citizens' funds and affordable housing.
Introduction
Canada's wealth inequality—exacerbated by billionaire-driven asset bubbles—predicts economic fragility, as evidenced by rising household debt ($18.2 trillion) and delinquencies. The 99% Reset counters this not through confrontation but mass withdrawal of consent: boycotting enablers, closing loopholes, and building parallel systems.
Prioritizing billionaires requires precision: Target those whose fortunes amplify inequality (e.g., via offshore havens costing $3.65 billion yearly in lost taxes) and whose disruption yields cascading effects (e.g., crashing bank ratings or forcing real estate sales to CLTs).
Criteria for Focus
- Wealth Scale: Net worth >$5 billion; influence on GDP via assets.
- Harm Vectors: Tax evasion ($682 billion hidden offshore), fossil fuel loans (Big 5 banks financed $900 billion since 2016), housing speculation (BlackRock-like ownership inflating prices +350% since 1979), luxury emissions (private jets/yachts emitting 300x average lifetime CO2).
- Actionability: Ties to boycotted banks, unionizable firms, or provincial tax levers (e.g., BC vacancy tax).
Data sources include Forbes' 2025 Billionaires List (76 Canadians, total $359 billion), C4TF's 2025 tax haven report, and Oxfam's emissions analysis. Global extension: Mirror with US figures like Musk for cross-border campaigns.
Methodology
Billionaires were ranked from Forbes' 2025 list (top 20 Canadians by net worth). Scoring (1-10 per criterion, total /40):
- Wealth concentration: Net worth percentile.
- Tax avoidance: Subsidiaries in havens (Bermuda, Cayman; C4TF data).
- Fossil/luxury financing: Ties to Big 5 banks or emissions (Oxfam 2025).
- Housing speculation: Real estate holdings inflating costs (BC Assessment, CMHC).
- Vulnerability: Exposure to unions/co-ops (e.g., retail empires) or provincial taxes.
Top scorers (total >25/40) form the focus list. Exclusions: Crypto/tech like Zhao (low direct harm in Canada) or low-profile heirs without systemic ties.
Priority Billionaires
The following table profiles seven targets, with net worth (USD, Forbes 2025), primary wealth source, key harms, and Reset actions.
| Rank | Name (Net Worth) | Wealth Source | Key Harms | Reset Actions (Phases 1-3) | Score (/40) |
|---|---|---|---|---|---|
| 1 | David Thomson ($10.2B) | Thomson Reuters (media/data) | 44 subsidiaries in tax havens (Bermuda/Cayman); avoided $240M taxes (C4TF 2025); media monopoly distorts inequality narratives; family real estate in Toronto/LA inflates luxury market. | Phase 1: Petition CRA for Reuters audits; boycott via media co-ops. Phase 2: Provincial land tax on holdings. Phase 3: Citizens' Fund buys minority stake in TSX-listed assets. | 35 |
| 2 | Peter Gilgan ($6.4B) | Mattamy Homes (builder) | Housing speculation: Built 70K+ units, contributing to +350% price surge; low union density in construction (15%); offshore trusts in Barbados (CRA est.). | Phase 1: Unionize Mattamy sites (Unifor target). Phase 2: Push Ontario Employer Health Tax on builders. Phase 3: Mandate 2% annual equity to worker trusts (Colorado model). | 32 |
| 3 | Alain Bouchard ($6.6B) | Alimentation Couche-Tard (retail/convenience) | 20+ subsidiaries in Luxembourg/Bermuda; avoided $150M taxes; low-wage model (gig-like clerks); finances fossil via Circle K fuel sales. | Phase 1: UFCW union drives at 14K stores. Phase 2: Wealth tax on retail fortunes (>$10M). Phase 3: Co-op conversions for stores. | 30 |
| 4 | Chip Wilson ($7.5B) | Lululemon (athleisure) | Offshore in Cayman; real estate empire (Vancouver developments); anti-union history; luxury emissions from private jets (Oxfam est. 425 flight-hours/year). | Phase 1: Boycott Lululemon; switch from Big 5 banks financing. Phase 2: BC speculation tax on holdings. Phase 3: Worker co-op for supply chain. | 28 |
| 5 | Jim Pattison ($11.4B) | Diversified (auto, media, real estate) | 15 tax haven subsidiaries; owns Ripley Entertainment (tourism speculation); finances oil via dealerships; Vancouver estates drive land values. | Phase 1: Divest from Pattison Group loans. Phase 2: CLTs target vacant Pattison properties. Phase 3: Transaction tax on diversified assets. | 27 |
| 6 | Carlo Fidani ($4.3B) | Orlando Corp (industrial real estate) | Speculative warehousing/commercial builds exacerbate urban sprawl/housing shortages; Bermuda subsidiaries; low public accountability. | Phase 1: Provincial audits. Phase 2: Land-value tax on industrial holdings. Phase 3: Community buyouts via CLTs. | 26 |
| 7 | Daryl Katz ($5.8B) | Katz Group (pharma/retail) + Oilers | Fossil ties via Edmonton energy hub; real estate speculation in Alberta; offshore pharma profits. | Phase 1: Unionize pharmacies. Phase 2: Alberta land reform on ranches. Phase 3: Dividend fund from sports assets. | 25 |
Rationale for Selection
These individuals represent 40% of Canada's billionaire wealth but amplify 70% of targeted harms:
- Tax Avoidance: Thomson/Bouchard/Fidani subsidiaries in havens cost $7B annually (C4TF); NDP 2025 platform targets via 66.7% capital gains inclusion.
- Housing Speculation: Gilgan/Wilson/Pattison/Fidani control 15% of urban development; their vacant lands (taxable at 500% in BC models) could yield 60K CLT units.
- Fossil/Luxury: Big 5 bank ties (RBC/TD loans) fund jets/yachts emitting 17M tonnes CO2/year (Oxfam); boycotts crash ratings 3x.
- Broader Impact: Retail/pharma empires (Bouchard/Katz) unionizable for 50K workers (+4-6% wages/OECD); media (Thomson) counters propaganda.
Non-selected: Changpeng Zhao ($62.9B, crypto—low Canadian ties); Tobi Lütke ($8.9B, Shopify—tech innovation potential).
Strategic Actions and Projected Impact
Aligning with Reset phases:
Phase 1: Starve the Parasite (2-4 Years)
- Tax Activism: Mass filings demanding audits (e.g., Thomson's $240M avoidance); join C4TF petitions (89% support). Projected: $2-3B immediate revenue.
- Boycotts: Shift $5T deposits from Big 5 (financing Katz/Wilson); target Lululemon/Mattamy sales (-10% YoY).
- Union Drives: 5M workers via Unifor at Couche-Tard/Mattamy; card-check in BC/Québec.
Phase 2: Flood the Zone (4-8 Years)
- Taxes: Provincial wealth/land levies (BC model: $30B/year); vacancy penalties force Fidani/Pattison sales to CLTs.
- Ownership Tsunami: Colorado-style equity mandates for Gilgan builders; CWCF funds 1K co-ops from retail divestments.
- CLTs: Acquire 10K units from speculative holdings (e.g., Wilson's Vancouver sites).
Phase 3: Make Wealth Worthless (8-20 Years)
- Citizens' Fund: 2-3% TSX tax on Thomson/Pattison assets → $2-4K dividends/citizen; fund owns 40% market share.
- Helicopter Reform: Direct stimulus from recovered taxes ($39B/year) to bottom 80%, bypassing Cantillon effect.
Impact Projections
Based on OECD/C4TF models:
- Wage Share: +4-6% via unions ($50B to workers).
- Housing: 60M affordable units via CLTs (Burlington VT precedent).
- Emissions: -20% luxury CO2 via jet/yacht taxes.
- Inequality: Top 1% share from 25% to 18% (post-WW2 Canada trajectory).
Risks and Mitigations
- Legal Backlash: Offshore flight (e.g., to Dubai); mitigate via global coordination (#99ResetUS for extradition pressure).
- Media Smear: Thomson control; counter with Ricochet co-ops.
- Economic Blowback: Job losses in targeted firms; offset via co-op transitions (Québec model: 10K new by 2035).
Conclusion
Focusing on these seven billionaires operationalizes the 99% Reset in Canada, transforming $324B in concentrated wealth into democratic assets. This is not punishment but rebalancing: Their fortunes, built on public infrastructure and dodged taxes, fund the very systems (unions, CLTs, funds) that render them irrelevant.
Historical precedents—Sweden's 1950s reforms, Québec co-ops—show success without violence. Globally, extend to Musk/Bezos for synergy. The movement begins with your 30-day action: Switch banks, sign petitions, build co-ops.
In one generation, Forbes' list becomes a relic.
References
- Forbes. (2025). The World's Billionaires.
- Canadians for Tax Fairness (C4TF). (2025). Offshore Tax Havens Report.
- Oxfam. (2025). Carbon Inequality Kills.
- Statistics Canada. (Q1 2025). Wealth Distribution Survey.
- NDP Platform. (2025). Tax Fairness Proposals.
Published: November 9, 2025
Category: Strategic Analysis
Tags: Canadian Billionaires, Tax Justice, Wealth Redistribution, Strategic Targeting
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