In 2008, he was made an Officer of the Order of Canada for his leadership and philanthropy. In May 2010, Carleton University announced the creation of Canada's first graduate program in political management, made possible by Riddell's donation. Riddell made the largest donation in Carleton's history, making the creation of the program possible.
Riddell graduated with a Bachelor of Science (Honours) in Geology from the University of Manitoba. He also is part owner of the Calgary Flames and high-end Calgary restaurant Catch. With an estimated net worth of $US 2.5 billion (as of March 2011), Riddell was ranked by Forbes as the 12th wealthiest Canadian and 459th in the world.
Riddell is the namesake of the new Riddell Library and Learning Centre (RLLC), which was officially opened on Mount Royal University's Lincoln Park campus on September 7, 2017