Sep 9, 2026
Lululemon founder Chip Wilson built an estimated US$6.1 billion fortune — and could lose close to half of it. Wilson, 71, and his wife of more than two decades, Shannon “Summer” Wilson, are divorcing in the Supreme Court of British Columbia, and the couple reportedly never signed a prenuptial agreement.
For a billionaire, that gap is expensive. But the rule behind it is not just for the ultra-wealthy — it applies equally to every married or common-law couple in British Columbia, and versions of it exist across the country.
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Here’s what BC’s default property-division rules actually say, why growth matters more than who owned what first and what any Canadian couple building a business, a home or an investment portfolio together should do now to protect it.
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What’s happening in the Wilson divorce
Wilson and Summer married in 2002, four years after he founded Lululemon in Vancouver. A family-law case was filed in April in the BC Supreme Court, though it remains sealed.
Bloomberg reported there is no marriage agreement between the couple. Wilson’s holdings include a roughly 8.7% stake in Lululemon worth close to US$1 billion, a roughly-US$3 billion position in Amer Sports — parent of Arc’teryx and Salomon — and an extensive real estate portfolio that includes one of the province’s most valuable homes.
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Why does skipping a marriage agreement cost so much in BC?
Under BC’s Family Law Act, all property either spouse owns at separation is presumed to be split equally, no matter whose name is on it. The same rule applies to common-law partners once they have lived together for two years.
What actually counts as ‘yours’?
Property owned before a relationship began — including a business — is generally excluded from division under BC law. But any increase in that property’s value during the relationship is treated as family property, split 50-50 like everything else. Wilson founded Lululemon before the marriage, so that four-year head start could matter, but two decades of growth on top of it likely will not. Excluded status is not automatic. A spouse claiming an asset is excluded must prove what it was worth before the relationship began — otherwise, the current value can end up being treated as shared property.
Where this hits ordinary couples
The same math applies to a small-business owner who incorporated before marriage and grew the company for 20 years, a couple who bought a rental property together, or two people who moved in together and passed the two-year common-law mark without ever discussing money.
Business owners, incorporated professionals and anyone entering a second relationship with existing assets are especially exposed, since a growing business or investment account is treated the same as any other family asset.
What Canadians should do now
- Sign a marriage or cohabitation agreement before the wedding or before the two-year common-law mark, not after a business or portfolio takes off
- Get an independent valuation of any business, property or investment account at the start of the relationship, and keep the paperwork
- Revisit the agreement after a major life change, such as a business sale, an inheritance or relocating to another province
- Talk to a family lawyer, not only an estate or business lawyer, since the rules don’t always line up
Wilson’s case will likely take months, if not years, to resolve, and the sealed court file means the final split may never be made public. But the underlying rule isn’t paywalled, and it applies whether the fortune at stake is US$6.1 billion or a paid-off house and a small business. A conversation with a family lawyer before assets grow remains far cheaper than the alternative.
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Amy Tokic is an SEO content editor for Money.ca. She holds a B.A. in Communications from the University of Windsor. Amy is an award-winning author and has been writing professionally for 15 years, publishing articles in the lifestyle and health sectors.
