Shopify widens its lead on RBC

OTTAWA — The electric performance of Shopify’s shares has solidified the e-commerce platform’s position as Canada’s most valuable company, the Globe & Mail reports. Shopify overtook the Royal Bank of Canada in mid-May, after which the two traded the top spot back and forth. Since early May, however, RBC has gained just $11 billion in market capitalization for a total value of $131 billion. By comparison, Shopify picked up $45 billion for a total of just less than $166 billion. Founder Tobias Lutke is inching closer to becoming the richest Canadian, currently coming in at number three. According to the Bloomberg Billionaires Index, Alibaba co-founder Joseph Tsai is the richest individual Canadian.