In September, billionaire Michael Lee-Chin sold his Canadian wealth management and mutual fund business AIC to Manulife for an undisclosed amount. Curious timing for the native Jamaican, considering his "buy, hold and prosper" philosophy, and the fact that investors have been cashing out of his funds throughout the economic crisis.
Lee-Chin, worth $1 billion in March when Forbes published the list of the World's Billionaires, still manages $2.3 billion for Manulife. His holdings also include a bank in Jamaica and a company that sells broadband in South and Central America.
The self-made mogul recently opened up to Forbes on why he chose to sell AIC during a recession, how he was wrong about betting on the U.S. dollar and his formula for becoming a billionaire.
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