Richest local you know

[FlameyMcFlameFace]

Originally Posted by 8sPOT

I dont know if this is bad to say but whatever its been a long time now. I worked in the back office of one of the big 5 banks like 15 years ago. The owner/creator of Arpi's (the furnace company) was a client, I would routinely re-invest his GIC's as they matured. It seemed never ending, on Monday a GIC would mature with $60k in interest, then on Wednesday another would mature with $75k in interest. Dozens of GIC's. His interest on a single one of these GIC's dwarfed my annual income. Plus, I would get calls to transfer $50k or $70k to a bank account as the client was in Vegas for the weekend. Always fascinated me.

Lots of sneaky rich folks out there too. I had a guy come in to give his daughter a $600k cheque, some kind of school money or something I cant recall. She was going to University and this was her spending money essentially.

Also had a 'rich' uncle when I was a kid, but turns out giving me $20 and some gun doesn't actually make him rich.

Awesome! Now we need to find out what the “sneaky” rich folks are doing to acquire their wealth

[Derek Sutton]

This guy, worked for him for nine years. One of the nicest men and the best owner/ boss I ever worked for. The company has grown far beyond I think even he ever envisioned. Back before health and safety was what it is now, another field tech had his bonus withheld by his manager due to getting in an accident in his work truck. This came up at our spring meetings and Jim (he insisted we call him) was totally disgusted and unaware this happened, he brought the guy into his office and cut him a check on spot for $10k.

https://calgaryherald.com/news/local...gallery-window


Had dirt trucked up from Kentucky to his track in Calgary to train his race horses.

https://www.americasbestracing.net/o...-jim-and-susan

[Cappy]

For Calgarians, I know a girl who married to a founder of an Oil and Gas company (won't name it but its big). I know a few other small O&G company owners, but the money they have is "sneaky rich" as has been described - $20,000 allowances for their adult children etc.

I had a connection to the President of Clean Harbors. I got to go to a Patriots game in the Company's 48 person luxury box a couple years ago which was wild. I met Alan and genuinely seemed like a nice guy. Very down to earth as he grew the company from a rented backhoe. I think he had a big house on the cape and a massive fishing yacht as that was his hobby.

I know a few people who have went to the Richie Bros Island (yes the family owns an island)

A guy i used to work with knew a girl who was dating the son of Dennis Washington. He had some crazy stories about the money he had. The Washington's actually own the island next to the Richie Bros. island, and put a 9 hole golf course on the island - had to barge everything in and it apparently cost over 1 mil a hole.

Another random story, but i was in Cabo about 10 years ago and there was a massive yacht in the marina, complete with a regular size helicopter. My GF at the time was wondering how someone could afford something like that. I told her the story about the Washington's owning an island and building a private golf course etc. I remembered the name of the yacht and searched for it online... low and behold its owned by Dennis Washington

https://www.boatinternational.com/ya...-iv-yacht--247

[troutman]

Originally Posted by 8sPOT

I dont know if this is bad to say but whatever its been a long time now. I worked in the back office of one of the big 5 banks like 15 years ago. The owner/creator of Arpi's (the furnace company) was a client, I would routinely re-invest his GIC's as they matured. It seemed never ending, on Monday a GIC would mature with $60k in interest, then on Wednesday another would mature with $75k in interest. Dozens of GIC's. His interest on a single one of these GIC's dwarfed my annual income. Plus, I would get calls to transfer $50k or $70k to a bank account as the client was in Vegas for the weekend. Always fascinated me.

I don't think this something you should be disclosing.

[you&me]

Originally Posted by troutman

I don't think this something you should be disclosing.

Agreed. I would think some more discretion would be appreciated by those being mentioned.

Not directed at anyone specifically, but I always find it interesting to hear people's anecdotes on what they consider to define "rich". Generally speaking though, what impresses most people doesn't even rank the the spectrum of the truly wealthy... When it comes to true wealth, the scale is beyond comprehension for the vast majority of people.

[JohnnyB]

Originally Posted by troutman

I don't think this something you should be disclosing.

This is kind of a weird thread overall. Especially because it focuses on local wealth. Seems ideally set up to result in some private info of identifiable people being shared publicly.

[nik-]

Originally Posted by troutman

I don't think this something you should be disclosing.

It's absolutely not something he should be disclosing.

[Fuzz]

Originally Posted by nik-

It's absolutely not something he should be disclosing.

It's OK, he didn't out the guy by his name. Just some vague reference to a company that no one could figure out without hiring Nancy Drew.

[Ozy_Flame]

My opinion hasn't changed on that house at all. It's still an excessive eyesore in 2020 as it was in 2014.

[jayswin]

nm

[calgarygeologist]

Originally Posted by looooob

just clarifying that while these specific examples may well be true, Robyn Regehr is in truth (unless he's made some blunders along the way) definitely richer than most doctors

I certainly don't know who is richer in actual dollar values as I personally don't care and obviously wouldn't ask for details on their financial situation. In this specific case I just assumed that a doctor who is already coming from a very well off family background and who owns a couple clinics plus other cosmetic clinics and is in partnership on other businesses might be tipping the scales in his favour.

[Tron_fdc]

Yeah, I actually KNOW Arpi personally.

Anyway, my old man is childhood pals with this guy https://www.canadianbusiness.com/lis...ed-ron-mannix/

There's rich, and there's absolutely no concept of money whatsoever rich. It's pretty weird talking to people like that.

[troutman]

Originally Posted by Tron_fdc

Yeah, I actually KNOW Arpi personally.

He died 5 years ago.

[Tron_fdc]

Originally Posted by troutman

He died 5 years ago.

His son is Arpi as well.

[firebug]

I spent 7 years in investment banking out of university.

Had lunch with billionaires more than once.

Meeting with clients worth 8-figures was very common and those worth 9-figures not unusual.

Recall in 2006 taking an $8/share acquisition offer to a company president who owned more than 4-million shares. He turned it down saying he felt they were worth $10/share. Also recall that same company going bankrupt in 2013... them's the breaks ;-)

One of the first deals I worked on was for Petrolifera Petroleum (PDP). We did a pre-ipo round at 1.50 and then an IPO for a $2.50 unit including a half warrant. I believe the stock topped out over $20 in its first year - my MD made over $1-M on just that one deal.

[troutman]

I know some that made a fortune on TESLA this year.

[you&me]

Originally Posted by Tron_fdc

There's rich, and there's absolutely no concept of money whatsoever rich. It's pretty weird talking to people like that.

What do you find weird about it?

[flamingred89]

This is a little bit of a strange thread but also kind of interesting. I feel there is a general fascination with the wealthy. I recall watching a video on YouTube recently where a tiktoker went around knocking on doors of mansions and asking people what they did for a living. It was interesting seeing the responses. Some of the occupations were strange and you’d never expect there was any kind of money in them.

In my youth I worked as a camp counsellor and had the opportunity to work with kids from some of the most well known families in Calgary. It was banana’s listening to some of the stories of private planes, yachts, and vacation homes. I could never really wrap my head around that kind of lifestyle and yet the kids seemed somewhat normal.

[JohnnyB]

Originally Posted by flamingred89

This is a little bit of a strange thread but also kind of interesting. I feel there is a general fascination with the wealthy. I recall watching a video on YouTube recently where a tiktoker went around knocking on doors of mansions and asking people what they did for a living. It was interesting seeing the responses. Some of the occupations were strange and you’d never expect there was any kind of money in them.

In my youth I worked as a camp counsellor and had the opportunity to work with kids from some of the most well known families in Calgary. It was banana’s listening to some of the stories of private planes, yachts, and vacation homes. I could never really wrap my head around that kind of lifestyle and yet the kids seemed somewhat normal.

People are people. We're all primates, even if some have impossibly large piles of bananas.

Most people on this board probably have the lower tiers of Maslow's hierarchy pretty well covered, and you don't reach the higher tiers by standing on a pile of cash. People with very high net worth can struggle with those aspects of life just like everybody else.

[Roughneck]

Originally Posted by firebug

One of the first deals I worked on was for Petrolifera Petroleum (PDP). We did a pre-ipo round at 1.50 and then an IPO for a $2.50 unit including a half warrant. I believe the stock topped out over $20 in its first year - my MD made over $1-M on just that one deal.

$10K from my college fund went to that IPO. Don’t know how much my parents put in. Definitely didn’t make a million, but low six figures. My dad’s friend who was a higher up at Petro-Canada put him onto it. A network of Irish immigrant professionals made a lot of money with that marvellous little company.