Meet ‘Canada’s Warren Buffett,’ the 90-year-old billionaire who drives a Toyota pickup truck around his hometown and owns a $25 million yacht

Jim Pattinson

Jim Pattison, who has a reported net worth of $5.9 billion, has been called “Canada’s Warren Buffett.”
Like Buffett, Pattison is the third-richest person in his country, is relatively frugal, and donates heavily to philanthropy.
But Pattison can also be a little lavish — he owns a $25 million yacht and a fleet of jets.

Warren Buffett has plenty of billionaire peers, but it’s easy to see why Jim Pattison has been dubbed this Canadian counterpart.

Known as “Canada’s Warren Buffett,” Pattison, 90, has a net worth of $5.9 billion, according to Forbes. It may not even graze Buffett’s $8o billion net worth, but it ranks him as the third-richest man in Canada — equivalent to Buffett’s seat as the third-richest man in America.

Also like Buffett, Pattinson is relatively frugal. Born during the Great Depression, he had humble beginnings that stuck with him even as he created and developed a giant conglomerate, The Jim Pattison Group, of 200-plus companies worth more than $7 billion today. He also donates heavily to philanthropy.

But that doesn’t mean he doesn’t indulge in a few lavish purchases. While he might have a Toyota truck parked in his garage, he also has a $25 million yacht docked not far away.

Here, see how Pattison earns and spends his billions.

SEE ALSO: Warren Buffett is the world’s third-richest man — see how the notoriously frugal billionaire spends his fortune

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Jim Pattison, Canada’s third-richest man, has a reported net worth of $5.9 billion.

Source: Forbes, Bloomberg

But Pattison wasn’t always worth billions — his net worth is even more impressive considering his beginnings. He was born during the Great Depression and grew up poor, wearing hand-me-downs and living in “Vancouver’s gritty east side.”

Source: Bloomberg

Pattison began practicing the art of business at age 7, selling seeds door-to-door. He eventually progressed to selling newspapers and playing trumpet at church picnics.

Source: Bloomberg, Vancouver Sun

See the rest of the story at Business Insider …read more

Source:: Businessinsider – Life


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