Jamaican-Canadian enterprise magnate Michael Lee-Chin has as soon as once more been acknowledged among the many world’s wealthiest people, securing the #21 (tie) place on the Forbes 2025 World’s Black Billionaires Listing. With an estimated internet price of $1.1 billion, his fortune is basically anchored in his controlling stake in Nationwide Industrial Financial institution Jamaica (NCB), making him probably the most profitable Caribbean-born entrepreneurs on the worldwide stage.
Early Life and Jamaican Roots
Michael Lee-Chin was born in Port Antonio, Jamaica, in 1951 to Aston Lee and Hyacinth Gloria Chin. Each of his mother and father had been of combined African and Chinese language heritage. His mom later remarried Vincent Chin, who ran a grocery retailer in the area people.
Rising up in modest circumstances, Lee-Chin skilled the realities of laborious work from an early age. He attended Titchfield Excessive Faculty in Jamaica and held varied jobs as a young person, together with landscaping and dealing within the engine room of the cruise ship Jamaica Queen. These early experiences would assist form his values of self-discipline, dedication, and resilience.
Training and Early Profession
After highschool, Lee-Chin migrated to Canada, the place he studied civil engineering at McMaster College. He earned a Bachelor of Arts and Science diploma earlier than starting his profession as a highway engineer for the Jamaican authorities.
Nonetheless, his curiosity in finance quickly outweighed his engineering profession. He entered the world of investing and shortly demonstrated a eager eye for alternatives. By his mid-thirties, he was on his strategy to constructing the monetary empire that will ultimately safe his billionaire standing.
Constructing Wealth By means of Investments
Lee-Chin’s breakthrough got here in 1987 when he acquired AIC Restricted, a small Canadian mutual fund firm with lower than $1 million in property beneath administration. Beneath his management, AIC grew quickly, reaching over $10 billion in property by 2002.
Whereas AIC was closely impacted by the worldwide recession in 2008 and later bought to Manulife in 2009, Lee-Chin retained his most precious asset: a controlling stake in Nationwide Industrial Financial institution Jamaica (NCB). At present, NCB accounts for the majority of his fortune, representing one of many Caribbean’s most vital monetary establishments.
Past finance, Lee-Chin has additionally invested in telecommunications, tourism, hospitality, and vitality, additional increasing his enterprise footprint throughout the Caribbean and North America.
Forbes Rating and Wealth Tracker
As of August 17, 2025, Michael Lee-Chin’s real-time internet price stands at $1.1 billion, putting him #2961 globally and #21 (tie) on the Forbes 2025 World’s Black Billionaires Listing. He shares this spot with Herriot Tabuteau, a U.S.-based healthcare entrepreneur.
Forbes Wealth Historical past (Supply: Forbes)
- 2010 – $1 billion
- 2018 – $1.2 billion
- 2019 – $1.8 billion
- 2020 – $2 billion
- 2021 – $1.6 billion
- 2022 – $2 billion
- 2023 – $1.4 billion
- 2024 – $1.4 billion
- 2025 – $1.1 billion
Philanthropy and Management
Michael Lee-Chin is widely known for his philanthropy. In 2003, he pledged $30 million to the Royal Ontario Museum in Toronto, which resulted within the creation of the Michael Lee-Chin Crystal, a landmark addition to the museum. He additionally donated $10 million to the College of Toronto’s Rotman Faculty of Administration to determine the Michael Lee-Chin Household Institute for Company Citizenship.
His contributions lengthen to healthcare and schooling. He gave $10 million to the Joseph Brant Hospital Basis and supported McMaster College, his alma mater.
In Jamaica, he has additionally invested in cultural and tourism ventures, together with the Reggae Seaside Resort and the Trident Resort. His portfolio as soon as included Wallenford Espresso and Columbus Communications.
Public Service and Recognition
Lee-Chin has held vital management positions past the enterprise sector. In 2016, he was appointed chairman of Jamaica’s Financial Development Council, tasked with creating methods to spice up the nation’s financial efficiency.
In 2017, he was appointed to the Order of Ontario, the province’s highest honor. He has additionally served because the eighth chancellor of Wilfrid Laurier College in Canada.
In recognition of his generosity, Lee-Chin and his household had been awarded the 2015 Affiliation of Fundraising Professionals’ Nationwide Philanthropy Award – Golden Horseshoe Chapter – for Excellent Philanthropist.
Forbes 2025 Black Billionaires
The Forbes 2025 World’s Black Billionaires Listing consists of 23 people with a mixed internet price of $96.2 billion. Their wealth represents simply 0.8% of worldwide billionaire holdings, however their impression throughout industries—finance, leisure, expertise, and sports activities—has been transformative.
Beneath is the entire rating:
- #1. Aliko Dangote – $23.9B – Cement, sugar – Nigeria
- #2. David Steward – $11.4B – IT supplier – U.S.
- #3. Robert F. Smith – $10.8B – Personal fairness – U.S.
- #4. Alexander Karp – $8.4B – Software program – U.S.
- #5. Mike Adenuga – $6.8B – Telecom, oil – Nigeria
- #6. Abdulsamad Rabiu – $5.1B – Cement, sugar – Nigeria
- #7. Michael Jordan – $3.5B – Basketball, endorsements – U.S.
- #8 (tie). Patrice Motsepe – $3B – Mining – South Africa
- #8 (tie). Oprah Winfrey – $3B – TV exhibits – U.S.
- #10. Jay-Z – $2.5B – Music – U.S.
- #11. Adebayo Ogunlesi – $2.2B – Personal fairness – U.S.
- #12 (tie). Magic Johnson – $1.5B – Basketball, investments – U.S.
- #12 (tie). Femi Otedola – $1.5B – Vitality – Nigeria
- #14 (tie). Tope Awotona – $1.4B – Software program – U.S.
- #14 (tie). Tyler Perry – $1.4B – Films, TV – U.S.
- #14 (tie). Tiger Woods – $1.4B – Golf – U.S.
- #14 (tie). Rihanna – $1.4B – Music, cosmetics – Barbados
- #18 (tie). Mohammed Ibrahim – $1.3B – Communications – UK
- #18 (tie). LeBron James – $1.3B – Basketball – U.S.
- #20. Try Masiyiwa – $1.2B – Telecom – Zimbabwe
- #21 (tie). Michael Lee-Chin – $1.1B – Mutual funds – Canada/Jamaica
- #21 (tie). Herriot Tabuteau – $1.1B – Healthcare – U.S.
- #23. Sheila Johnson – $1B – Cable TV, motels – U.S.
Photograph – McMaster University/Michael Lee-Chin & Family Institut
