While Canada sees a big selection of Indian college students yearly who go to the nation to pursue larger examine, however it’s attention-grabbing to know that one other such Indian scholar graduated from IIT and moved to Canada to change into the richest Indian within the nation. This man is V Prem Watsa.
V Prem Watsa is an Indian businessman and a graduate of the Indian Institute of Technology (IIT) Madras, who moved to Canada with subsequent to nothing and labored his solution to the highest, turning into the richest Indian in Canada and one of many main businessmen within the nation.
Born in Hyderabad, Prem Watsa belonged to a middle-class household. The businessman pursued chemical engineering on the prestigious IIT Madras. With a drive to construct his enterprise, he determined to pursue larger training in Ontario, Canada.
However, Prem Watsa didn’t have the means or the cash to check overseas, and he moved to Canada with simply 8 {dollars} in his possession, which converts to Rs 64 as per the present worth. To fund his training in Canada, he began promoting furnaces and air conditioners in a small locality.
Watsa then determined to begin his personal firm by overtaking a trucking firm in Canada and renaming it Fairfax Financial Holdings, turning into its chairman and CEO in 1985, the positions that he nonetheless holds on the age of 72.
For the primary 15 years of the expansion of his firm, he took it to a multi-billion greenback degree however at all times stayed out of the general public eye. In the 12 months 2012, his firm reported income of USD 8 billion, which comes out to Rs 65,717 crore.
Prem Watsa is a Padma Shri awardee and has additionally been honoured with the Order of Canada, the second-highest civilian honour within the nation. His firm reported a income of Rs 1.46 lakh crore within the earlier monetary 12 months.
Further, Prem Watsa has a internet price of USD 1.2 billion, which comes out to Rs 9,857 crore, making him the richest Indian man in Canada.
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