Billionaire Michael Lee-Chin’s advice for building wealth

Michael_Lee-Chin

Michael Lee-Chin is the founder of Portland Holdings and the company operates across sectors that include health care, telecommunications, media, tourism and financial services.

Lee-Chin was born in Port Antonio, Jamaica in 1951. As a teenager he worked at various jobs including landscaping and cleaning. In 1970 he went to Canada on an educational scholarship program to study Civil Engineering, and he graduated in 1974 from the McMaster University in in Ontario.

Lee-Chin returned to Jamaica but could not secure steady work in his field, so he went to Canada and worked as a security doorman for a while and then secured a job as a financial advisor for the IGM Financial Institution. In 1979 he moved to Regal Capital Partners to become a regional manager, there he managed to oversee a number of leveraged transactions that increased his wealth dramatically.

Lee-Chin shares his advice for individuals who are interested in generating and perpetuating wealth. He also has a 5-step plan for becoming a financial success.

1. Buy only a few high quality businesses.

2. Make sure you understand these businesses.

3. Make sure these businesses are located in strong, long-term growth industries.

4. Be sure these businesses use debt prudently.

5. Hold these few businesses for the long run.

 

Michael Lee-Chin presentation

Company: Portland Holdings

Company: Portland Private Equity

Tweet about this on TwitterShare on FacebookShare on TumblrDigg thisPin on PinterestBuffer this pageEmail this to someone

Write a Reply or Comment

Your email address will not be published. Required fields are marked *

Current ye@r *