What is Galen Weston Jr.'s Net Worth?
Galen Weston Jr. is a Canadian business scion who has a net worth of $2 billion. Galen is a member of the prominent Weston family in Canada. He serves as the chairman and CEO of the family holding company George Weston Limited and the chairman and president of the retailer Loblaw Companies Limited. Weston Jr. is the second child and only son of Galen and Hilary Weston.
Early Life and Education
Galen Weston Jr. was born on December 19, 1972 in Dublin, Ireland to businessman Galen Weston and his wife Hilary. His great-grandfather was George Weston, who founded the biggest food and retail empire in Canada. He has a sister named Alannah. The kids' father had relocated from Canada to Ireland in the 1960s to start a supermarket chain; in 1974, the family moved to Canada. Weston grew up in Toronto, Ontario, where he attended the independent boys' school Upper Canada College. For his higher education, he moved to the United States to attend Harvard University. Weston went on to earn his MBA from Columbia University.
Loblaw Companies
In 2006, Weston became the executive chairman of Loblaw Companies Limited, the Ontario-based food retailer of his family's company George Weston Limited. Prior to that, he had held various positions at Loblaw and was a member of its board of directors. The largest food retailer in Canada, Loblaw encompasses both corporate and franchise supermarkets operating under multiple regional and market-segment banners, including Loblaws. It also operates financial services. In 2016, Weston took over from his father as the chairman and CEO of Loblaw's parent company, George Weston Limited. Four years later, he succeeded his father as the controlling shareholder of Wittington Investments Limited, which controls George Weston Limited. In 2021, Weston was upgraded to the chairman and president of Loblaw Companies after Sarah Davis retired as president. It was announced in the spring of 2023 that Weston would be stepping down as president in 2024.
(Photo by Patrick McMullan via Getty Images)
Controversies
Weston has been involved in some controversies during his leadership at Loblaw Companies. In early 2018, the company was accused of having participated in a scheme to price-fix the cost of bread in Canada from 2001 to 2015. In response, consumers were offered the chance to receive a $25 gift card for bread; however, Loblaw's policy to require an ID for the gift card drew protests. Later, amid the height of the COVID pandemic in 2020, Weston and Loblaw earned criticism for canceling an hourly $2 wage increase for employees.
Personal Life
In 2005, Weston married Alexandra Schmidt, the granddaughter of businessman Thomas Bata Jr. and his wife, businesswoman Sonja. The Westons have many residences, including the 197-hectare South Down Farm, which is perched high on the Niagara Escarpment in Caledon, Ontario.
