Yes. The Parliamentary Budget Officer estimates that the top 1% of economic families held about 23.8% of Canada's total net wealth in 2023.
The PBO's 2025 update estimates the top 1% of economic families owned 23.8% of Canadian net wealth in 2023, after adjusting for underrepresentation of very wealthy families in household surveys.
Yes. The Parliamentary Budget Officer estimates that the top 1% of economic families held about 23.8% of Canada's total net wealth in 2023.
Wealth is highly concentrated at the top. The PBO estimates that the top 10% held about 52.7% of total net wealth and the bottom 40% about 3.3%.
The figure is an estimate, and 'top 1%' here means economic families ranked by net wealth—not the top 1% of individual income earners.
This is the kind of dramatic-sounding inequality claim that is easy to dismiss as rhetoric but is broadly supported by Canada's independent parliamentary fiscal office.
Canada
NAR-20260906-014
Fact check: Do Canada's wealthiest 1% own about a quarter of the country's net wealth? What current Canadian evidence shows.
Do Canada's wealthiest 1% own about a quarter of the country's net wealth? Canada fact check evidence
Short answer
Yes. The Parliamentary Budget Officer estimates that the top 1% of economic families held about 23.8% of Canada's total net wealth in 2023.
What's true
Wealth is highly concentrated at the top. The PBO estimates that the top 10% held about 52.7% of total net wealth and the bottom 40% about 3.3%.
What's wrong or missing
The figure is an estimate, and 'top 1%' here means economic families ranked by net wealth—not the top 1% of individual income earners.
What the evidence shows
The PBO's 2025 update estimates the top 1% of economic families owned 23.8% of Canadian net wealth in 2023, after adjusting for underrepresentation of very wealthy families in household surveys.
Why it matters to Canadians
This is the kind of dramatic-sounding inequality claim that is easy to dismiss as rhetoric but is broadly supported by Canada's independent parliamentary fiscal office.
Key evidence or evidence note
The public verdict separates evidence that the claim circulated from the primary or high-quality evidence used to establish the factual baseline.
Review status
Confidence: High · Last reviewed: September 6, 2026 · Narrative ID: NAR-20260906-014