Reichmann Family

The Reichmann family is a family that is renowned for the control it has on the Olympia and York business empire. This family dates its roots back to Samuel Reichmann who was originally from Shtetl of Beled, Hungary, but later relocated to Vienna in 1928. While at Vienna, Reichmann became a very successful merchant. During the 2nd World War, he and his family (wife Renee and 6 children) fled to Paris and later on to Tangier. 

After settling in Tangier, Reichmann became a prominent businessman in the currency trade, while his wife became a well-known humanitarian due to her involvement in helping Holocaust victims. Even though the family was financially successful, Reichmann’s eldest son, Edward went to Montreal and established Olympia Flooring and Tile in 1955. The rest of his family followed him to Canada soon after. 

Reichmann’s other sons, Louis, Albert, Paul and Ralph settled in Toronto instead, and they helped expand Edward’s tile business. They even diversified into property development and construction. The family business became known as York Developments, and the brothers assumed various leadership roles in the business. Over time, Olympia & York became the largest property and development management firm, propagating the Reichmanns higher on the list of the wealthiest families in Canada.

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)