Tobi Lutke of Shopify is part of this year's Wealth Professional Canada's Hot List.
While Canada’s reputation for ingenuity might occasionally suffer, at least in comparison to the US, there are plenty of innovative minds in this country. Case in point: Shopify founder and CEO Tobi Lutke. After starting the company in 2006 as an online snowboard retailer, Lutke transformed it into an e-commerce giant, eventually going public in 2015.
With a market cap of more than $18 billion, Shopify helped Lutke became one of Canada’s youngest billionaires at the age of 37, although it hasn’t all been smooth sailing. Last November, Shopify was targeted by short-seller Citron Research, which questioned the firm’s premium valuation. Stock performance bounced back strongly, although concern remains about whether the company can maintain its spectacular growth in the coming years.