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Jamaican-Canadian billionaire Michael Lee-Chin steps in to fund Reading Heights, a luxury residential project poised to meet Jamaica’s premium housing demand.
In a recent interview with BNN Bloomberg, Lee-Chin, highlighted the historical correlation between energy source transitions and economic power shifts.
The sale comes amid NCBFG’s plans for an additional public offering (APO) aimed at issuing between 300–450 million new shares to raise over $20 billion.
Lee-Chin’s vision for Portland Caribbean Fund III sets a transformative course for sustainable growth in the Caribbean.
Lee-Chin’s strategic sale of NCB shares worth over $1.54 billion, while maintaining his pivotal role as the majority shareholder.
NCB is majority-owned by Jamaican-Canadian billionaire Michael Lee-Chin, a top figure among the world’s Black billionaires.
Jamaica’s richest man Michael Lee-Chin, who is worth $1.3 billion, according to Forbes, made a fortune investing in financial companies.
Lee-Chin is the founder of Portland Private Equity, the private equity fund company in charge of Portland JSX Limited.
According to Forbes, Lee-Chin’s net worth now stands at $1.4 billion, compared to $1.5 billion at the start of the year.
Lee-Chin has also put his luxurious mansion, Coconut Walk Private Estate, up for sale for $35 million.
Michael Lee-Chin sees the collaboration as an opportunity to contribute to the economic progress in scientific fields across the UAE
If the property is sold at the current asking price, Lee-Chin will pocket a profit of almost $22.5 million.