⬅ # 256 Jiang Rensheng|# 258 Antonia Ax:son Johnson

# 257 Jim Pattison 

$9.37B

Real Time Net Worth
as of 4/12/2024
-$53.0M (-0.57%)

# 257 Jim Pattison 

$9.37B

Real Time Net Worth
as of 4/12/2024
-$53.0M (-0.57%)
OccupationFounder, Chair and CEO, Jim Pattison Group
Source of WealthDiversified
Age95
ResidenceVancouver, Canada
Marital StatusMarried
Children3
Age-Adjusted Net Worth$877.62M
Jim Pattison
Jim Pattison
Canada
Net worth: $9.37B

Self-Made Score 

Wealth History

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Biography

Overview

James Allen Pattison, born on October 1, 1928, is a Canadian business magnate and investor.
He is based in Vancouver, British Columbia, and holds the positions of CEO, chairman, and sole owner of the Jim Pattison Group.
The Jim Pattison Group is Canada's second-largest privately-held company, with over 45,000 employees worldwide and annual sales of $10.1 billion.

Early Life and Education

Born in Luseland, Saskatchewan, Pattison's family later moved to East Vancouver when he was six.
He had various jobs during high school, including selling doughnuts and working as a page boy at the Georgia Hotel.
Although Pattison did not complete his studies at the University of British Columbia, he worked in diverse roles like a cannery, packing house, and for the Canadian Pacific Railway.

Career

In 1948, during a break from university, Pattison started selling cars at Richmond Motors in BC.
In 1961, he persuaded a Royal Bank manager to lend him $40,000, leading to the opening of a Pontiac dealership.
Pattison's company expanded to own 25 car dealerships, Peterbilt truck dealerships, Overwaitea Foods, Save-On-Foods, and media assets like radio and TV stations.
He led the organization of Expo 86 in Vancouver and acquired Guinness World Records in 2008.
Pattison Agriculture is the second-largest John Deere dealer in Canada with 19 locations.

Personal Life

Pattison married Mary Hudson, whom he met at a church camp, and the couple has three children.
In 2018, at age 90, Pattison purchased Marilyn Monroe's iconic dress for $4.8 million and enjoyed playing musical instruments like the piano, organ, and trumpet.

How long would it take you to become as rich as Jim Pattison?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Jim Pattison's net worth of $9.37B.

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 36.27% compared to 8.51% for the S&P 500 benchmark.

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Jim Pattison 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 Jim Pattison, 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