Thursday, August 4, 2011

Eric Sprott, Canada's 'hidden billionaire'

His wealth is not a surprise to anyone in Canada who has watched him prosper, but investor Eric Sprott is under the radar enough in the rest of the world to land on a new global list of "hidden billionaires."

Bloomberg Markets magazine ranks Mr. Sprott as one of the globe's unsung billionaires, along with a French advertising heiress, a German appliance entrepreneur and a Moroccan property developer.

Mr. Sprott's wealth is estimated by Bloomberg at "at least $1.3-billion (U.S.)," based mostly on his publicly disclosed holdings in Sprott Inc.(SII-T9.010.010.11%) and some other Sprott-related companies, including Sprott Physical Gold Trust, stakes that have both hugely benefited from the run in gold. There may be more wealth in other private holdings, acknowledged Matthew Miller, Bloomberg's new billionaire reporter (yes, they have such a thing)...

Read the full article here: