Lee-Chin describes the market since 1990 as "a series of rolling speculations", and now "we see a commodities bubble".[41]. Bachelor of Arts/Science, McMaster University. Over the course of four years, his investments appreciated sevenfold, climbing from $1 to $7 per share. In 2004, he pledged $10 million to the University of Toronto campaign that helped establish the Michael Lee-Chin Family Institute for Corporate Citizenship (formerly known as the AIC Institute for Corporate Citizenship) at the Rotman School of Management. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. A database with more than 1,450 yacht owners. It also has a high cruising speed, allowing it to cover large distances quickly and efficiently. "[27] As a result, in December 2004, AIC Limited was forced to return CAD $58.8 million to affected investors, which was the largest penalty imposed on any of the fund companies in the OSC investigation.[28]. At 16, he took a cleaning job in the engine room of a cruise ship. Adrian Lee-Chin, Paul Lee-Chin, Elizabeth Lee-Chin, Maria Lee-Chin, Michael Lee-Chin Jr. The SuperYachtFan team is active in Investigative journalism. Lee-Chin was appointed to the Order of Ontario in 2017. Despite these unfavourable early events in her life, Wayne said his mother, while under the care of her adoptive parents, was relocated to Kingston, where she sat the Common Entrance Exam and earned a place at Wolmers High School for Girls. Manage Settings At the time, the company had holdings of around C$800,000. Michael Lee-Chin, OJ, OOnt (born 3 January 1951) is a Jamaican-Canadian billionaire businessman, and philanthropist and the chairman and CEO of Portland Holdings Inc, a privately held investment company in Ontario, Canada. Our reporting is copied and/or used by many international media companies. CEO Michael Lee-Chin turned to them and smiled. It recovered throughout the early 1990s by maintaining investments in large groups, such as Merrill Lynch and TD bank (formerly Toronto Dominion). Under Lee-Chin, the Canada-based wealth management and mutual fund business managed more than $10 billion in assets by 2002. While at Investors Group, he studied the strategies of successful investors, such as Warren Buffett, Benjamin Graham and Kenneth Thomson. Read more about cookies here. (Photos by JetPhotos.com, Planespotters.net;flightaware.com;flickr.com;picssr.com;planefinder.net) Do you want us to remove a certain photo? Today, Lee-Chin is a billionaire, managing a vast investment portfolio that includes a majority stake in the National Commercial Bank of Jamaica. You create wealth by doing today, what people will be doing tomorrow., Email: mcoulton@postmedia.com | Twitter: marisacoulton. for Economic Growth and Investment in Haiti in 2011. I dont think he really wanted to sell AIC. Often actual yacht ownership by the private individuals mentioned can not be confirmed, at least from a legal point of view. Self-test kit users urged to report positive case, Second-generation Jamaican wins Florida House seat , Taxi operator gunned down in Green Island, Hanover, No reports of Jamaicans in regions of Sudan conflict Johnson Smith, Update | NWC aiming to resolve Fairy Hill water issues by tomorrow, Gov't requests probe of leak of discussions on UWI Mona principal appointment, Police probe double murder at People's Arcade in MoBay, Protesting residents mount roadblocks in Eastern Portland, Lecturer calls for mentorship to open girls eyes to possibilities in tech, Nuh Dutty Up Jamaica message not reaching citizens, activist fears, Applications open for JMMB Joan Duncan Foundation scholarships, Digital Archives: Online editions 2006-Now. The mother of billionaire businessman Michael Lee-Chin and chairman of the Southern Regional Health Authority and CEO of the Super Plus Food Store, Wayne Chen, passed on Saturday, January 8, at the age of 89. Michael Lee-Chin, born on January 3, 1951, is a Jamaican-Canadian business magnate, investor, and philanthropist. With no clients, he had no choice but to cold-call and knock on the doors of wealthy Canadians. Built by the renownedLurssenYachts in 2021 as Project ENZO, the impressivesuperyachtAHPOis a marvel of modern design and engineering.