He also owns a residence in Jamaica. The Lee-Chin Institute's purpose is to help current and future business leaders integrate corporate citizenship into business strategy and practices. The radiopeptide binds to neuroendocrine cancer cells and zaps the tumour with radiation. He loves to help people, said Wellum. Because both of us are so passionately committed to Jamaica, it hurts.. Unlimited online access to articles from across Canada with one account. He invested in ITM Isotope Technologies Munich SE, a biotechnology group of precision oncology companies working on perfecting techniques such as peptide receptor radionuclide therapy, a cancer treatment where patients are injected with a cell-targeting protein, combined with radioactive material a radiopeptide. Three decades and many investments later, Lee-Chin is worth some $1.9 billion, according to Forbes. 2. If this all blows up, we had one heck of a good time, he said. In 2007, Lee-Chin donated $1 million to the Toronto General & Western Hospital Foundation to support the creation of the Michael Lee-Chin and Family Short Stay Unit. They had ridden the wave of the booming wealth management industry so well that they had increased the value of assets under management to nearly $10 billion by 1998 from $12 million at the start of the decade. The gift established the Michael Lee-Chin Family Institute for Corporate Citizenship at the Rotman School of Management, University of Toronto. Entrepreneur and Philanthropist. The couple had three children, Michael Jr., Paul, and Adrian. Manage Settings 16.6k Followers, 20 Following, 122 Posts - See Instagram photos and videos from Michael Lee-Chin (@michaelleechin) michaelleechin. He is the founder and Chairman of Portland Holdings Inc., a privately held investment company which owns a collection of diversified operating . All Rights Reserved. Michael Lee-Chin made a fortune investing in financial companies like National Commercial Bank Jamaica and AIC Limited. The next issue of FP Investor will soon be in your inbox. Lee-Chin now lives with Sonya Hamilton, with whom he has fraternal-twin daughters, Elizabeth and Maria in Flamborough, near Hamilton, Ontario, and Miami Beach, Florida. Do you know more about his business jet? Held at the Ritz-Carlton in Toronto, March 19, 2014 Hon. Lee-Chin bounced between jobs at a cruise line and aluminum bauxite plant, until he applied to universities in Canada. He does have a wonderful heart. His 115m (378ft) yacht AHPO was built at Lurssen in 2021. By 1987, the investment was worth C$3.5 million. Following his acquisition of AIC, Lee-Chin set out to develop the Berkshire group of companies, which is comprised of investment planning, a securities dealership and an insurance services operation. Hyacinth Gloria Chen interacts with sons Wayne Chen (left) and Michael Lee-Chin at a reception. Create an account or sign in to continue with your reading experience. It had been a remarkable run. He has specifically stated that "We [AIC] do not like commodities-type businesses nor most high-tech companies simply because they are implicitly poor enterprises which we would not want to hold for the long term". We were on a shoestring, Wellum said. The company would go on to grow from $800,000 in holdings in 1983 to more than Michael Lee-Chin (1951- ) September 30, 2014 contributed by: Maurice W. Dorsey. The native of Jamaica acquired AIC in 1987, when it had less than $1. Related by origin of wealth: Mutual funds. Like every other billionaire, the tycoon has been described as a "yacht connoisseur." The Apho was built by the German . They parted in 1991, and officially separated (though did not divorce) in 1997. We and our partners use cookies to Store and/or access information on a device. Michael Lee-Chins income source is mostly from being a successful Chairman. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Lee-Chin attended Titchfield High School from 1962 to 1969. Michael Lee-Chin began his career as a road engineer with the Jamaican government, working his way up to his position as the chairman and founder of Portland Holdings, privately-held investment firm in Jamaica. By 2007, Berkshire had amassed more than C$12 billion of assets under administration. The two made plans for the family to relocate to the United States in the late 1970s, but the couple had a change of heart because son Wayne was a university student and had expressed a desire to remain in Jamaica. Michael Lee-Chin has met with Mandela for an outreach project in South Africa. Lee-Chin remains committed to philanthropy and business, but now, at 71 years of age, his focus has shifted to his family, his health, and well-being. Over the course of four years, his investments appreciated sevenfold, climbing from $1 to $7 per share. In 2009SuperYachtFanin its current format was published online and soon the focus changed from yacht photos toyacht owners, creating theSuper Yacht Owners Register.

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