This appeared on caribworldnews.com, see link
Jamaican-born, Canada-based self-made billionaire, is barely hanging on to the 2009 Forbes billionaire list this year.
The latest annual list released by the magazine Wednesday showed that Lee-Chin, chairman of AIC mutual funds, not only dropped on the list but also shed several millions in the last year.
In 2008, the Burlington-based, Canadian, was sitting at number #677 on the list with a net worth of $1.8 billion. This year Lee-Chin has dropped to the bottom of the ranks at #701, hanging on with a current estimated net worth of US$1 billion.
The 58-year-old McMaster University alumnus, who acquired AIC in 1987, has seen assets under management plunge by 42 percent in the last year, since investors started cashing out during the recent financial downturn.
Lee-Chin also owns stakes in the National Commercial Bank Jamaica, Total Finance in Trinidad & Tobago and Columbus Communications, a cable and communications company, in Barbados. His personal real estate portfolio includes 250 acres of beachfront property in Ocho Rios, Jamaica and homes in Canada and Florida
