Michael Lee-Chin Founder of Berkshire Group Country: Canada

Biography of Michael Lee-Chin

Michael Lee-Chin, the founder of Berkshire Group, was born in 1951 in Port Antonio, Jamaica. His parents were young, with his mother only being 18 years old. His grandfather was a Chinese immigrant who moved to Jamaica in his youth. When Michael was 8 years old, his mother remarried Vincent Chin, and their family grew to include seven children.

Growing up, Michael attended a local secondary school while his mother worked as an Avon sales representative and provided accounting services to various local firms.

In 1965, Michael found his first job working on the construction of a French hotel. The following year, he started working on a cruise liner in Jamaica, where he was responsible for cleaning the engine room.

In 1970, Michael traveled to Canada to study civil engineering at McMaster University. He successfully completed his studies in 1974. Initially, he supported himself financially, but later applied for a scholarship through the university's dean.

After graduating, Michael returned to Jamaica and worked as an engineer for a government transportation and construction company. However, he soon realized that he needed to return to Canada to achieve his goals in life. He secured a position as a consultant for a small investment group.

In 1979, Michael became the regional manager of Regal Capital Planners. In 1983, he borrowed $500,000 from Continental Bank and used the funds to purchase shares in Mackenzie Financial Group. By 1987, these investments were valued at $3.5 million.

In 1985, Michael founded Berkshire Group, a company that provides financial, insurance, and investment services. Over time, his business expanded and became valued at several billion dollars. Currently, Michael Lee-Chin owns AIC Limited and the National Commercial Bank of Jamaica, as well as assets in several major investment companies and banking institutions.

Michael Lee-Chin's net worth is estimated at $1.9 billion, making him one of the wealthiest Canadians. He is ranked 677th in Forbes' list of the world's richest individuals.