Shopify CEO Tobi Lütke gains $5 billion since July to become Canada’s third-richest resident as his controversies pile up

by | Oct 17, 2026 | Latest E-commerce News & Updates

Shopify CEO Tobi Lütke is now worth $15 billion after gaining about $5 billion since July, which makes him Canada’s third-richest resident behind grocery heir Galen Weston and Thomson family member Sherry Brydson, according to Ari Altstedter at Bloomberg. Lütke’s online provocations have come more often as Shopify has grown, from attacking Canada’s retaliatory tariffs on the US to this summer’s approving reply to an X post arguing that people who don’t pay income tax shouldn’t vote while the biggest taxpayers get extra votes. He has since deleted the voting posts without explaining them. Lütke’s politics put Prime Minister Mark Carney in an awkward spot, since his government is trying to keep homegrown tech founders like Lütke from moving their companies to the US.

Paul Drecksler is the founder and editor of Shopifreaks, covering the most important stories in e-commerce.

Companies: Shopify

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