Meet richest Indian in Canada who has Rs 17430 crore net worth, no match for Mukesh Ambani, Gautam Adani, he owns…
Meet the wealthiest Indian in Canada amassing a USD 2.1 billion net worth through his business and investment expertise.
Prem Watsa, the wealthiest Indian in Canada, has made a name for himself through his business achievements and remarkable journey from Hyderabad, India, to Toronto, Canada. Despite his significant wealth, he doesn’t rival India’s richest business titans, Mukesh Ambani and Gautam Adani, whose net worths exceed USD 100 billion. However, with a net worth of approximately USD 2.1 billion which is around Rs 17430 crore, Watsa stands as a prominent figure in Canada’s business landscape.
Watsa’s journey began in a middle-class family in Hyderabad. He graduated from the prestigious Indian Institute of Technology (IIT) Madras in 1971 with a degree in Chemical Engineering. Seeking broader opportunities, he moved to Canada, where he pursued a Master’s Degree in Business Administration from the University of Western Ontario. This educational foundation helped him kickstart a career that would eventually place him among the leading financial figures in Canada.
Watsa’s career in finance started in 1974 at Confederation Life Insurance Company, where he managed stock portfolios and performed investment research. This experience allowed him to gain crucial insights into the finance and insurance industry. A few years later, he co-founded Hamblin Watsa Investment Counsel Ltd., focusing on investment management. In 1985, he acquired control of Fairfax Financial Holdings, a Toronto-based financial services company, which became his primary business venture.
Under his leadership, Fairfax grew substantially, expanding its assets to an impressive USD 31 billion, while maintaining a consistent annual return of around 20% on shareholder equity. Listed on the Toronto Stock Exchange, Fairfax Financial Holdings is a key player in the financial services sector in Canada, and Watsa’s expertise has earned him the nickname “Canadian Warren Buffet.” This nickname reflects his investment style and strategy, which resemble those of the American investment mogul.
Prem Watsa’s success is not only recognized in Canada but also back home in India, where he was honored with the Padma Shri award, one of the country’s highest civilian honors. Although his wealth does not surpass that of Mukesh Ambani, whose net worth stands at USD 119.5 billion, or Gautam Adani, with USD 116 billion, Watsa’s success story remains an inspiration. His journey exemplifies how dedication, business acumen, and a strong educational background can create global impact.
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