How rich is Michael Lee-Chin?
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Among other places, he’s now Executive Chairman of AIC Limited (a Canadian mutual fund), as well as the National Commercial Bank of Jamaica. “Canadian Business” has named him as among the most affluent individuals in Canada and estimates his riches to be over CAD$2.0 billion.
Lee Chin is a philanthropist. He also supplied a $10 million gift to the Rotman School of Management in the University of Toronto. The present created the Michael Lee-Chin Family Institute for Corporate Citizenship in the Rotman School of Management, University of Toronto. The Lee Chin Institute’s goal is really to assist present and future business leaders incorporate corporate citizenship into company strategy and practices. Lee Chin also now sits as chancellor of Wilfrid Laurier University.
Lee Chin worked briefly as a road engineer for the Jamaican authorities, but unable to find work in his capable field (and supposedly, because his Canadian wife didn’t enjoy residing in Jamaica), he returned to Canada. In the beginning he was employed as a bouncer, but afterwards found employment as a financial adviser for Investors Group. Lee Chin spent two years in the Investors Group, in the Hamilton, Ontario office as well as in 1979, moved to Regal Capital Planners and became regional supervisor. While in the business, in 1983, he procured a loan in the Continental Bank of Canada for C$500,000 to buy a position in Mackenzie Financial Group and formed Kicks Sports with Andrew Gayle. In 1987, took the proceeds from his Mackenzie investment and he purchased a Kitchener-based firm known as the Advantage Investment Council (a department of AIC Limited) for $200,000. At that time, the firm had holdings of around C$800,000. He renamed the business AIC, and developed it into a fund that now commands around C$6 Billion, with thousands of investors.