Tobi Lutke Now Canada’s Wealthiest Company Founder

As Shopify shares soar, Tobias Lutke has become Canada’s wealthiest company founder, as Shopify stock recently crossed the $2000 mark on the Toronto Stock Exchange.

This is the first time ever for a Shopify share to hit $2k , which means founder and chief executive officer Tobias Lutke has never been richer, at least on paper.

Considering Mr. Lutke’s stake in his own company, he is currently worth approximately $13 billion. Since 2020, he grossed $490 million by selling some of its Shopify shares.

All these figures make Tobias Lutke one of the wealthiest Canadians ever, and definitely the richest self-made Canadian company founder. The 40 years old entrepreneur spent 16 years of his life to become what he is today, and interestingly enough, two years ago his stake was worth just U$2 billion.

After Shopify went public on May 20th 2015 on the NYSE at $17/share, it closed recently at 1,522.56 USD per share, so go figure.

According to public figures, Tobias Lutke owns approximately 7.5 million of Shopify’s special Class B shares, which allow their holders 10 votes per share, plus 80,500 of the Class A shares, which trade on the New York and Toronto stock exchanges. Together, those holdings are worth about US$12.4-billion.

Mr. Lutke also owns 580,000 stock options worth approximately $850 million, and of those, 403,348 were granted prior to the company’s 2015 IPO, and are linked to the Class B multiple voting shares, having an exercise price of US$6.22 apiece.

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