Jamaican-Canadian business magnate Michael Lee-Chin has once again been recognized among the world’s wealthiest individuals, securing the #21 (tie) position on the Forbes 2025 World’s Black Billionaires List. With an estimated net worth of $1.1 billion, his fortune is largely anchored in his controlling stake in National Commercial Bank Jamaica (NCB), making him one of the most successful Caribbean-born entrepreneurs on the global stage.
Early Life and Jamaican Roots
Michael Lee-Chin was born in Port Antonio, Jamaica, in 1951 to Aston Lee and Hyacinth Gloria Chin. Both of his parents were of mixed African and Chinese heritage. His mother later remarried Vincent Chin, who ran a grocery store in the local community.
Growing up in modest circumstances, Lee-Chin experienced the realities of hard work from an early age. He attended Titchfield High School in Jamaica and held various jobs as a teenager, including landscaping and working in the engine room of the cruise ship Jamaica Queen. These early experiences would help shape his values of discipline, determination, and resilience.
Education and Early Career
After high school, Lee-Chin migrated to Canada, where he studied civil engineering at McMaster University. He earned a Bachelor of Arts and Science degree before beginning his career as a road engineer for the Jamaican government.
However, his interest in finance soon outweighed his engineering career. He entered the world of investing and quickly demonstrated a keen eye for opportunities. By his mid-thirties, he was on his way to building the financial empire that would eventually secure his billionaire status.
Building Wealth Through Investments
Lee-Chin’s breakthrough came in 1987 when he acquired AIC Limited, a small Canadian mutual fund company with less than $1 million in assets under management. Under his leadership, AIC grew rapidly, reaching over $10 billion in assets by 2002.
While AIC was heavily impacted by the global recession in 2008 and later sold to Manulife in 2009, Lee-Chin retained his most valuable asset: a controlling stake in National Commercial Bank Jamaica (NCB). Today, NCB accounts for the bulk of his fortune, representing one of the Caribbean’s most significant financial institutions.
Beyond finance, Lee-Chin has also invested in telecommunications, tourism, hospitality, and energy, further expanding his business footprint across the Caribbean and North America.
Forbes Ranking and Wealth Tracker
As of August 17, 2025, Michael Lee-Chin’s real-time net worth stands at $1.1 billion, placing him #2961 globally and #21 (tie) on the Forbes 2025 World’s Black Billionaires List. He shares this spot with Herriot Tabuteau, a U.S.-based healthcare entrepreneur.
Forbes Wealth History (Source: 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 Leadership
Michael Lee-Chin is widely recognized for his philanthropy. In 2003, he pledged $30 million to the Royal Ontario Museum in Toronto, which resulted in the creation of the Michael Lee-Chin Crystal, a landmark addition to the museum. He also donated $10 million to the University of Toronto’s Rotman School of Management to establish the Michael Lee-Chin Family Institute for Corporate Citizenship.
His contributions extend to healthcare and education. He gave $10 million to the Joseph Brant Hospital Foundation and supported McMaster University, his alma mater.
In Jamaica, he has also invested in cultural and tourism ventures, including the Reggae Beach Resort and the Trident Hotel. His portfolio once included Wallenford Coffee and Columbus Communications.
Public Service and Recognition
Lee-Chin has held significant leadership positions beyond the business sector. In 2016, he was appointed chairman of Jamaica’s Economic Growth Council, tasked with developing strategies to boost the country’s economic performance.
In 2017, he was appointed to the Order of Ontario, the province’s highest honor. He has also served as the eighth chancellor of Wilfrid Laurier University in Canada.
In recognition of his generosity, Lee-Chin and his family were awarded the 2015 Association of Fundraising Professionals’ National Philanthropy Award – Golden Horseshoe Chapter – for Outstanding Philanthropist.
Forbes 2025 Black Billionaires
The Forbes 2025 World’s Black Billionaires List includes 23 individuals with a combined net worth of $96.2 billion. Their wealth represents just 0.8% of global billionaire holdings, but their impact across industries—finance, entertainment, technology, and sports—has been transformative.
Below is the complete ranking:
- #1. Aliko Dangote – $23.9B – Cement, sugar – Nigeria
- #2. David Steward – $11.4B – IT provider – U.S.
- #3. Robert F. Smith – $10.8B – Private equity – U.S.
- #4. Alexander Karp – $8.4B – Software – 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 shows – U.S.
- #10. Jay-Z – $2.5B – Music – U.S.
- #11. Adebayo Ogunlesi – $2.2B – Private equity – U.S.
- #12 (tie). Magic Johnson – $1.5B – Basketball, investments – U.S.
- #12 (tie). Femi Otedola – $1.5B – Energy – Nigeria
- #14 (tie). Tope Awotona – $1.4B – Software – U.S.
- #14 (tie). Tyler Perry – $1.4B – Movies, 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. Strive 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, hotels – U.S.
Photo – McMaster University/Michael Lee-Chin & Family Institut
