⬅ # 533 John A. Sobrato|# 535 Fred Smith

# 534 James Irving 

$5.64B

Real Time Net Worth
as of 6/14/2024
-$509 (-0.00%)

# 534 James Irving 

$5.64B

Real Time Net Worth
as of 6/14/2024
-$509 (-0.00%)
OccupationOwner, J. D. Irving
Source of WealthDiversified
Age96
ResidenceSaint John, Canada
Marital StatusMarried
Children4
Age-Adjusted Net Worth$493.70M
James Irving
James Irving
Canada
Net worth: $5.64B

Self-Made Score 

Wealth History

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Biography

Early Life and Family Legacy

James Kenneth Irving was born on March 20, 1928 in Canada
He is the eldest son of industrialist K.C. Irving, whose family fortune traces back to the 19th century.
His grandfather left Scotland and established a general store and lumber and farming companies.
His father expanded the family empire with oil operations in the 1920s.

Career

Upon his father's death in 1992, James Irving assumed ownership and responsibility for J.D. Irving, a conglomerate with interests in forestry, pulp and paper, frozen food, transportation, and shipbuilding.
He pioneered reforestation and tree improvement programs for J.D. Irving, which has planted over a billion trees since 1957.
Received Officer of the Order of Canada in 1996 and Member of the Order of New Brunswick in 2008.
Founded the PALS (Partners Assisting Local Schools) program for schoolchildren in Saint John, NB.
J.K. Irving, his son, is the co-CEO of the J.D. Irving empire, which includes one of Canada's biggest shipbuilders.

Personal Life

Married philanthropist Jean E. Irving until her death in 2019.
Had four children: Jim Jr., Robert, Mary Jean, and Judy.

Business Empire

J.D. Irving Limited (JDI) is a privately owned conglomerate headquartered in Saint John, New Brunswick, Canada.
It operates in forestry, agriculture, food processing, transportation, and shipbuilding.
JDI, along with Irving Oil, Ocean Capital Investments, and Brunswick News, forms the bulk of the Irving Group of Companies.
Irving Woodlands, a J.D. Irving division, is the sixth-largest landowner in the U.S. with 1.25 million acres of land.
The conglomerate owns several subsidiaries including Irving Tissue, Kent Building Supplies, Irving Shipbuilding, and Cavendish Farms.

Controversies and Incidents

J.D. Irving's ownership of major media outlets in New Brunswick has raised concerns about media control and lack of critical reporting.
Incidents involving J.D. Irving subsidiaries include the sinking of the Irving Whale in 1970 and environmental issues such as the 2007 spill by Irving Pulp & Paper.
JDI subsidiaries like Atlantic Towing have faced accidents, including the capsizing of the dredging barge Shovel Master in 2008.

Notable Divisions

Irving Tissue Co. Ltd., Cavendish Farms, and Irving Equipment are among the notable divisions of J.D. Irving, Ltd.
The conglomerate also owns shipyards in Halifax, Liverpool, Shelburne, and Georgetown.
Irving's media holdings include Brunswick News, which owns several newspapers including Telegraph-Journal and Times & Transcript.

How long would it take you to become as rich as James Irving?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach James Irving's net worth of $5.64B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 43.45% compared to 12.43% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

James Irving is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For James Irving, Diversified is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey