Michael LeeChin Net Worth $1 Billion
Canadian philanthropist, investor and business magnate Michael Lee-Chin has an estimated net worth of $1 billion in 2012. Besides being the founder, he currently chairs thePortland Holdings Inc. This privately held company holds interests in health care, financial services, telecommunications, media and tourism.
As well as Portland Holdings Inc., Michael Lee Chin also serves as the executive Chairman ofthe National Commercial Bank of Jamaica, as well as the Canadian Mutual Fund, the AIC Limited. Now, Manulife Securities is now managing more than$13 billion in mutual fund assets.
Michael Lee-Chin was created in 1951 in Port Antonio, Jamaica. After working briefly as a road engineer in Jamaica, he moved to Canada where he became a bouncer. Eventually, he was able to procure a post in Investors Groupas a financial advisor. In 1987, he bought Advantage Investment Council for $200,000. From the time of acquisition, the firm controlled around $800,000 holdings. Renamed to AIC, the company now manages approximately $6 billion. Michael-Lee Chin is a grad ofMcMaster University. Now based in Burlington, Canada, Chin is currently divorced but has four kids.