Michael Lee-Chin
Burlington, Canada
Bachelor of Arts/Science, McMaster University
Canada
mutual funds, Self Made
$2,600,000,000
1281
#1281 Billionaires 2019
Michael Lee-Chin made a fortune investing in financial companies like National Commercial Bank Jamaica and AIC Limited.The native of Jamaica acquired AIC in 1987, when it had less than $1 million in assets under management.Under Lee-Chin, the Canada-based wealth management and mutual fund business managed more than $10 billion in assets by 2002. But the firm was hit hard by the 2008 recession, and Lee-Chin sold AIC to Canadian financial services group Manulife in 2009 for an undisclosed price.He managed to hold onto a valuable 65% stake in National Commercial Bank Jamaica, which now makes up the majority of his wealth.
As a teenager, Lee-Chin worked landscaping at a hotel, then got a gig cleaning the engine room on the Jamaica Queen cruise ship.Lee-Chin later worked as a road engineer for the Jamaican government after studying civil engineering at Canada's McMaster University.
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