Galen Weston’s profile picture

Galen Weston

Owner, Selfridges Group
Galen Weston’s profile picture
Net worth 2018: $9.42 Billion
Residence: Toronto, Canada
Country: Canada
BirthDay: 29 October 1940
Sigh: Scorpio
Children: 2
Education: Bachelor of Arts / Science, University of Western Ontario
BIOGRAPHY

Galen Weston was bornon 29 October 1940 in Toronto, Canada, Canada, is Owner, Selfridges Group. Galen Weston is #167 in List Billionaires People In The World. Galen Weston is chairman emeritus of George Weston, the Canadian food and retail giant founded by his grandfather in 1882. After successfully running grocery and retail stores in Ireland, Galen was handed the reins to Loblaws, a struggling supermarket chain owned by his father, in 1972. He turned the company around by lopping off underperforming stores and redesigning the rest. His son, Galen, Jr., oversees Loblaws today; it acquired Canadian drugstore chain Shoppers for about $12 billion in July 2013. The elder Weston also controls Selfridges Group, whose retail holdings include Holt Renfrew in Canada; Brown Thomas in Ireland; Selfridges in the United Kingdom; and de Bijenkorf in the Netherlands. He and his wife, Hilary, also created Windsor, a 416-acre luxury residential community in Vero Beach, FL.

NET WORTH STATISTIC
2009

$5 Billion

2010

$7.2 Billion

2011

$7.1 Billion

2012

$7.6 Billion

2013

$8 Billion

2014

$8.5 Billion

2015

$9.6 Billion

2016

$9.3 Billion

2017

$9.5 Billion

2018

$9.42 Billion

TIMELINE
2014

9 billion, are listed as the second wealthiest in Canada and 147th in the world by Forbes magazine (March 2014)

2010

The Selfridges Group has since expanded its holdings with the November 2010 acquisition of luxury department store chain De Bijenkorf of the Netherlands and the July 2011 purchase of the Ogilvy department store in downtown Montreal

2009

In 2009, Loblaw acquired T & T Supermarket, a chain of Chinese grocery stores with operations in British Columbia, Alberta and Ontario

2008

In 2008, several major assets were sold, namely Neilson Dairy to Saputo for (CAN) $465 million and George Weston Bakeries and Stroehmann Bakeries in the United States to Mexican conglomerate Grupo Bimbo for (US) $2

2007

With the introduction of a "fix the basics" program, designed to re-focus on food retailing, and a drive to resolve logistical problems, Loblaw returned to profitability in 2007

2006

In 2006, Loblaw recorded its first loss in almost two decades as a program to centralize administrative functions and consolidate warehouse operations resulted in chronic supply chains problems and customer complaints of empty shelves

2003

In 2003, it was announced that Weston had completed a deal to buy Selfridges, the British department store chain, through the Weston family holding company

1998

A decade earlier, White Swan tissue had been sold for $110 million and in 1998 the rest of E

1997

Weston (26th Lieutenant Governor of Ontario 1997–2002) and Chair of the Renaissance ROM Campaign, donated $10 million to the initiative to revitalize the Royal Ontario Museum – a contribution matched by the W

1995

In 1995, Loblaw divested the last of its retail holding in the United States while Weston oversaw the expansion of Canadian retail operations

1993

By 1993, No Name and President’s Choice products accounted for $1

1990

In recognition of his charitable work, Weston was made an Officer in the Order of Canada in 1990, awarded the Order of Ontario in 2005 and made a Commander of the Royal Victorian Order in 2017

1989

In 1989, Weston and his wife, Hilary Weston, broke ground on Windsor, a private residential development on Florida's east coast

1988

While Weston expressed personal support for free trade with the United States, the signing of an agreement in 1988 resulted in another re-evaluation of his company’s asset mix

1986

In 1986, Wittington Investments, the Weston family holding company, announced the purchase of Holt Renfrew & Co

1984

By 1984, it had become Canada’s largest and most profitable grocery retailer

1980

”On the retail side, Loblaw expanded through the 1980s

1979

Although a bid by Weston and George Weston Limited to acquire the Hudson's Bay Company and its chain of department stores failed in 1979, a second opportunity to acquire a major Canadian retailer presented itself several years later

1978

"In March 1978, Loblaw launched "No Name", a line of 16 generic products in simple black and yellow packaging with advertised savings of 10 to 40 percent over the national brands

1976

In 1976, year-end results showed a loss of $48 million for Loblaw, while parent George Weston Limited lost $14 million – the first recorded loss in the company’s history

1975

"In March 1975, Weston was appointed Chairman and Managing Director of George Weston Limited

1972

"In February 1972, Weston was appointed Chief Executive Officer of Loblaw Companies and immediately began consolidating operations

1971

In 1971, Weston was asked by Garfield Weston, Chairman of George Weston Limited, to take a look at Loblaws, the company’s Ontario-based supermarket chain, which appeared headed for bankruptcy

1970

"Well into the 1970s, the company continued to sell assets to shore up its balance sheet

1966

Meanwhile, Weston married Hilary Frayne, one of Ireland’s top fashion models, in 1966

1965

By 1965, Weston’s business had grown to six grocery stores

1961

"In 1961, after studying business administration at Huron University College at the University of Western Ontario, Weston moved to Dublin to set up a grocery store with his own money

1945

In 1945, Weston and family returned to Canada but moved frequently as Garfield pursued various business ventures, which included supermarket chains in North America and Europe

1940

Garfield Weston at Marlow, Buckinghamshire, near London, in October 1940 – the youngest of nine children

1930

Garfield, a Canadian businessman whose father George Weston established George Weston Limited, had successfully expanded overseas during the 1930s by acquiring and modernising biscuit and bread factories throughout the United Kingdom

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