Prem Watsa - Revision history

Gstnit: brief update structure to improve readability further and cleaned formatting as per guidelines

2026-02-25T04:30:09Z

brief update structure to improve readability further and cleaned formatting as per guidelines

← Older revision		Revision as of 10:00, 25 February 2026
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	\| termend = 2014		\| termend = 2014
	\| 1blankname1 = President/Vice Chancellor		\| 1blankname1 = President/Vice Chancellor
	\| 1namedata1 = ~~<br>~~[[David Lloyd Johnston\|David Johnston]]		\| 1namedata1 = [[David Lloyd Johnston\|David Johnston]]
	\| birth_date = {{Birth date and age\|df=yes\|1950\|08\|05}}		\| birth_date = {{Birth date and age\|df=yes\|1950\|08\|05}}
	\| birth_place = [[Hyderabad]], [[Hyderabad State (1948–1956)\|Hyderabad State]] (present-day [[Telangana]]), India		\| birth_place = [[Hyderabad]], [[Hyderabad State (1948–1956)\|Hyderabad State]] (present-day [[Telangana]]), India
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	\| alma_mater = {{Unbulleted_list\|[[IIT Madras]]\|[[University of Western Ontario]]}}		\| alma_mater = {{Unbulleted_list\|[[IIT Madras]]\|[[University of Western Ontario]]}}
	\| occupation = Businessman		\| occupation = Businessman
	\| ~~boards~~ = Chairman of [[Fairfax Financial\|Fairfax Financial Holdings]]		\| office2 = Chairman of [[Fairfax Financial\|Fairfax Financial Holdings]]
	}}		}}

	'''Prem Watsa''' {{post-nominals\|CM}} (born 5 August 1950) is an [[Indo-Canadians\|Indian-Canadian]] billionaire businessman who is the founder, chairman, and [[CEO\|chief executive]] of [[Fairfax Financial Holdings]], based in [[Toronto]].<ref>(BusinessWeek.com - Executive Profile - Prem Watsa/FFH) [http://investing.businessweek.com/research/stocks/people/person.asp?personId=1136292&symbol=FFH.TO]{{dead link\|date=April 2023\|bot=medic}}{{cbignore\|bot=medic}}</ref><ref>(Forbes.com - Executive Profile - Prem Watsa/FFH) [https://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=890456]{{dead link\|date=January 2022\|bot=medic}}{{cbignore\|bot=medic}}</ref><ref>[http://biz.yahoo.com/ic/56/56469.html Yahoo! Finance - Company Profile of Fairfax Financial]~~{{Dead link\|date=May 2023}}~~</ref><ref>{{Cite web \|last=Gad \|first=Sham \|date=2007-12-05 \|title=How to Dodge the Debt \|url=https://www.fool.com/investing/general/2007/12/05/how-to-dodge-the-debt.aspx \|access-date=2023-05-24 \|website=The Motley Fool \|language=en}}</ref> He has been called the "Canadian [[Warren Buffett]]."<ref>{{Cite web\|url=https://www.theglobeandmail.com/servlet/story/RTGAM.20060126.rmprem0127/BNStory/specialROBmagazine/?pageRequested=all\|title=reportonbusiness.com: Short shrift\|website=[[The Globe and Mail]] \|access-date=8 September 2017\|archive-date=20 April 2006\|archive-url=https://web.archive.org/web/20060420012844/http://www.theglobeandmail.com/servlet/story/RTGAM.20060126.rmprem0127/BNStory/specialROBmagazine/?pageRequested=all\|url-status=dead}}</ref><ref name=Bloomberg>{{cite news\|last1=Feeley\|first1=Jef\|url=https://www.bloomberg.com/news/articles/2010-04-22/zenith-national-investors-lose-bid-to-halt-fairfax-financial-acquisition\|title=Zenith National Investors Lose Bid to Halt Buyout\|		'''V. Prem Watsa''' {{post-nominals\|CM}} (born 5 August 1950) is an [[Indo-Canadians\|Indian-Canadian]] billionaire businessman who is the founder, chairman, and [[CEO\|chief executive]] of [[Fairfax Financial Holdings]], based in [[Toronto]].<ref>(BusinessWeek.com - Executive Profile - Prem Watsa/FFH) [http://investing.businessweek.com/research/stocks/people/person.asp?personId=1136292&symbol=FFH.TO]{{dead link\|date=April 2023\|bot=medic}}{{cbignore\|bot=medic}}</ref><ref>(Forbes.com - Executive Profile - Prem Watsa/FFH) [https://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=890456]{{dead link\|date=January 2022\|bot=medic}}{{cbignore\|bot=medic}}</ref><ref>[https://web.archive.org/web/20050116165532/http://biz.yahoo.com/ic/56/56469.html Yahoo! Finance - Company Profile of Fairfax Financial]</ref><ref>{{Cite web \|last=Gad \|first=Sham \|date=2007-12-05 \|title=How to Dodge the Debt \|url=https://www.fool.com/investing/general/2007/12/05/how-to-dodge-the-debt.aspx \|access-date=2023-05-24 \|website=The Motley Fool \|language=en}}</ref>
	access-date=8 June 2015\|work=Bloomberg\|date=22 April 2010}}</ref> He was awarded the fourth highest civilian award of India, [[Padma Shri]], in January 2020.<ref>{{cite web \| url=https://economictimes.indiatimes.com/magazines/panache/anand-mahindra-venu-srinivasan-to-be-honoured-with-padma-bhushan-naukri-com-founder-to-get-padma-shri/articleshow/73628195.cms\| title=Anand Mahindra, Venu Srinivasan to be honoured with Padma Bhushan; Naukri.com founder to get Padma Shri \| publisher=[[The Economic Times]] \| date=26 January 2020 \| access-date=26 January 2020}}</ref><ref>{{cite web \|title=MINISTRY OF HOME AFFAIRS \|url=https://padmaawards.gov.in/PDFS/2020AwardeesList.pdf \|website=padmaawards.gov.in \|access-date=25 January 2020}}</ref><ref>{{cite web \| url=https://www.hindustantimes.com/education/iit-madras-congratulates-its-professors-alumnus-on-being-conferred-with-padma-awards/story-lZHypBXbqONVYnAMxCEWgK.html \| title=IIT Madras congratulates its professors, alumnus on being conferred with Padma awards \| publisher=Hindustan Times \| date=26 January 2020 \| access-date=26 January 2020}}</ref>

	==Early life and education==		==Early life and education==
	Watsa was born in [[Hyderabad]], [[India]] ~~in a Christian family converted from Hinduism a few generations back~~. He attended [[Hyderabad Public School]] and the [[Indian Institute of Technology Madras]]<ref>{{cite web\|url=http://alumni.iitm.ac.in/citations-1999-distinguished-alumnus-awards-recipients/\|title=Citations: 1999 Distinguished Alumnus Awards Recipients - Office Of Alumni Relations\|website=alumni.iitm.ac.in}}</ref><ref name=CB>{{cite news\|last1=Castaldo\|first1=Joe\|title=The man with nothing to lose\|url=http://www.canadianbusiness.com/companies-and-industries/the-man-with-nothing-to-lose/\|access-date=8 June 2015\|work=Canadian Business\|date=10 October 2013}}</ref> where he graduated with a degree in chemical engineering. He later moved to [[London, Ontario]], and went to the [[Richard Ivey School of Business]] at the [[University of Western Ontario]], where he earned an [[Master of Business Administration\|MBA]]. Watsa left India with {{USD\|8}}, sold furnaces and air conditioners to financially support his university education.<ref name=gadgets>{{cite web \|last=Doval \|first=Pankaj \|url=http://www.gadgetsnow.com/tech-news/Prem-Watsa-the-richest-savviest-guy-youve-never-heard-of/articleshow/23016589.cms \|title=Prem Watsa, the 'richest, savviest guy you've never heard of' \|work=Gadgets Now \|date=25 September 2013 \|access-date=28 March 2017}}</ref> He is a distinguished alumnus of [[Indian Institute of Technology Madras\|IIT Madras]].<ref name=CB />		V. Prem Watsa<ref>{{Cite web \|url=https://www.sec.gov/Archives/edgar/data/915191/000110465923020379/tm235999d1_sc13ga.htm \|access-date=2025-12-23 \|website=www.sec.gov}}</ref> was born in [[Hyderabad]], [[India]]. He attended [[Hyderabad Public School]] and the [[Indian Institute of Technology Madras]]<ref>{{cite web\|url=http://alumni.iitm.ac.in/citations-1999-distinguished-alumnus-awards-recipients/\|title=Citations: 1999 Distinguished Alumnus Awards Recipients - Office Of Alumni Relations\|website=alumni.iitm.ac.in}}</ref><ref name=CB>{{cite news\|last1=Castaldo\|first1=Joe\|title=The man with nothing to lose\|url=http://www.canadianbusiness.com/companies-and-industries/the-man-with-nothing-to-lose/\|access-date=8 June 2015\|work=Canadian Business\|date=10 October 2013}}</ref> where he graduated with a degree in chemical engineering. He later moved to [[London, Ontario]], and went to the [[Richard Ivey School of Business]] at the [[University of Western Ontario]], where he earned an [[Master of Business Administration\|MBA]]. Watsa left India with {{USD\|8}}, sold furnaces and air conditioners to financially support his university education.{{Dubious\|date=September 2024}}<ref name=gadgets>{{cite web \|last=Doval \|first=Pankaj \|url=http://www.gadgetsnow.com/tech-news/Prem-Watsa-the-richest-savviest-guy-youve-never-heard-of/articleshow/23016589.cms \|title=Prem Watsa, the 'richest, savviest guy you've never heard of' \|work=Gadgets Now \|date=25 September 2013 \|access-date=28 March 2017}}</ref> He is a distinguished alumnus of [[Indian Institute of Technology Madras\|IIT Madras]].<ref name=CB />

	==Career==		==Career==
	After graduating, Watsa worked for the insurance company [[Confederation Life]]. In 1984, he started an investment firm with his former boss Tony Hamblin, called Hamblin Watsa Investment Counsel.<ref name=CB /> In 1985, Watsa took over Markel Financial, a small Canadian trucking insurance company that was verging on bankruptcy,<ref name=gadgets/> and renamed it [[Fairfax Financial\|Fairfax Financial Holdings]].<ref name=CB /> He helped grow the company, where it reached annual revenues of $8 billion a year in 2012.<ref name=CB /> Despite his success, he largely stayed out of the public eye, only beginning to hold investor conference calls in 2001.<ref name=CB /><ref name=gadgets/>		After graduating, Watsa worked for the insurance company [[Confederation Life]]. In 1984, he started an investment firm with his former boss Tony Hamblin, called Hamblin Watsa Investment Counsel.<ref name=CB /> In 1985, Watsa took over Markel Financial, a small Canadian trucking insurance company that was verging on bankruptcy,<ref name=gadgets/> and renamed it [[Fairfax Financial\|Fairfax Financial Holdings]].<ref name=CB /> He helped grow the company, where it reached annual revenues of $8 billion a year in 2012.<ref name=CB /> Despite his success, he largely stayed out of the public eye, only beginning to hold investor conference calls in 2001.<ref name=CB /><ref name=gadgets/> He has been called the "Canadian [[Warren Buffett]]."<ref>{{Cite web \|title=reportonbusiness.com: Short shrift \|url=https://www.theglobeandmail.com/servlet/story/RTGAM.20060126.rmprem0127/BNStory/specialROBmagazine/?pageRequested=all \|url-status=dead \|archive-url=https://web.archive.org/web/20060420012844/http://www.theglobeandmail.com/servlet/story/RTGAM.20060126.rmprem0127/BNStory/specialROBmagazine/?pageRequested=all \|archive-date=20 April 2006 \|access-date=8 September 2017 \|website=[[The Globe and Mail]]}}</ref><ref name="Bloomberg">{{cite news \|last1=Feeley \|first1=Jef \|date=22 April 2010 \|title=Zenith National Investors Lose Bid to Halt Buyout \|url=https://www.bloomberg.com/news/articles/2010-04-22/zenith-national-investors-lose-bid-to-halt-fairfax-financial-acquisition \|access-date=8 June 2015 \|work=Bloomberg}}</ref>

	On 22 January 2012, it was reported he was to be appointed to the board of directors of [[Research In Motion]] (RIM) in the company's largest ever corporate shakeup. Watsa resigned in August 2013, but kept his investment in the company. On 23 September 2013, [[BlackBerry Ltd\|BlackBerry]] announced that it had signed a letter of intent to be acquired by [[Fairfax Financial Holdings]] in a $4.7 billion deal.<ref>{{cite web\|title=Indian Billionaire Prem Watsa buying Blackberry for $4.7 Billion\|url=http://news.biharprabha.com/2013/09/indian-billionaire-prem-watsa-buying-blackberry-for-4-7-billion/\|access-date=24 September 2013}}</ref> Fairfax Financial Holdings is "the largest insurer of the for-profit bail industry in the U.S."<ref>{{Cite web\|url=https://www.aclu.org/news/\|title=ACLU News & Commentary\|website=American Civil Liberties Union}}</ref>		On 22 January 2012, it was reported he was to be appointed to the board of directors of [[Research In Motion]] (RIM) in the company's largest ever corporate shakeup. Watsa resigned in August 2013, but kept his investment in the company. On 23 September 2013, [[BlackBerry Ltd\|BlackBerry]] announced that it had signed a letter of intent to be acquired by [[Fairfax Financial Holdings]] in a $4.7 billion deal.<ref>{{cite web\|title=Indian Billionaire Prem Watsa buying Blackberry for $4.7 Billion\|url=http://news.biharprabha.com/2013/09/indian-billionaire-prem-watsa-buying-blackberry-for-4-7-billion/\|access-date=24 September 2013}}</ref> Fairfax Financial Holdings is "the largest insurer of the for-profit bail industry in the U.S."<ref>{{Cite web\|url=https://www.aclu.org/news/\|title=ACLU News & Commentary\|website=American Civil Liberties Union}}</ref>
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	In June 2009, he was appointed as the ninth chancellor of the [[University of Waterloo]].<ref>{{cite web\|url=http://newsrelease.uwaterloo.ca/news.php?id=5081\|title=Home - Waterloo News\|date=26 June 2012}}</ref>		In June 2009, he was appointed as the ninth chancellor of the [[University of Waterloo]].<ref>{{cite web\|url=http://newsrelease.uwaterloo.ca/news.php?id=5081\|title=Home - Waterloo News\|date=26 June 2012}}</ref>

	He was ~~named a~~ [[~~Member of the Order of Canada~~]] ~~in 2015~~.<ref>[http://~~thechronicleherald~~.ca/~~canada~~/~~1296405~~-~~four~~-~~nova~~-~~scotians~~-~~among~~-~~order~~-of-~~canada~~-~~honourees "Four Nova Scotians among Order of Canada honourees"]. ''[[The Chronicle~~-~~Herald]]'', 1 July 2015.~~</ref>		In September 2017, he was elected as the first chancellor of [[Huron University College]].<ref>{{Cite web \|title=Prem Watsa appointed Chancellor of Huron \|url=http://huronuc.ca/AboutHuron/News/NewsDetail?q=f54ce115-dd8d-4cba-b102-cf8399c09475 \|url-status=dead \|archive-url=https://web.archive.org/web/20180910121956/http://www.huronuc.ca/AboutHuron/News/NewsDetail?q=f54ce115-dd8d-4cba-b102-cf8399c09475 \|archive-date=2018-09-10 \|access-date=2023-05-24}}</ref>

	~~In September 2017~~, he was ~~elected as~~ the ~~first chancellor~~ of [[~~Huron University College~~]].<ref>{{~~Cite~~ web \|title=~~Prem Watsa appointed Chancellor of Huron~~ \|url=~~http~~://~~huronuc~~.ca/~~AboutHuron~~/~~News~~/~~NewsDetail?q=f54ce115~~-~~dd8d~~-~~4cba~~-~~b102~~-~~cf8399c09475~~ \|~~url~~-~~status~~=~~dead~~ \|~~archive-~~url=https://~~web~~.~~archive~~.~~org~~/~~web~~/~~20180910121956~~/~~http~~://www.~~huronuc~~.ca/~~AboutHuron~~/~~News/NewsDetail?q=f54ce115~~-~~dd8d~~-~~4cba~~-~~b102~~-~~cf8399c09475 \|archive~~-~~date=2018~~-09-10 \|access-date=~~2023-05-24~~}}</ref>		=== Awards ===
			He was named a [[Member of the Order of Canada]] in 2015.<ref>[http://thechronicleherald.ca/canada/1296405-four-nova-scotians-among-order-of-canada-honourees "Four Nova Scotians among Order of Canada honourees"]. ''[[The Chronicle-Herald]]'', 1 July 2015.</ref> Watsa was inducted into the Canadian Business Hall of Fame in 2024.<ref>{{cite news \|date=23 May 2024 \|title=Meet this year's Inductees to the Canadian Business Hall of Fame \|url=https://www.theglobeandmail.com/business/adv/article-meet-this-years-inductees-to-the-canadian-business-hall-of-fame/ \|website=Globe and Mail}}</ref>

			He was awarded the fourth highest civilian award of India, [[Padma Shri]], in January 2020.<ref>{{cite web \|date=26 January 2020 \|title=Anand Mahindra, Venu Srinivasan to be honoured with Padma Bhushan; Naukri.com founder to get Padma Shri \|url=https://economictimes.indiatimes.com/magazines/panache/anand-mahindra-venu-srinivasan-to-be-honoured-with-padma-bhushan-naukri-com-founder-to-get-padma-shri/articleshow/73628195.cms \|access-date=26 January 2020 \|publisher=[[The Economic Times]]}}</ref><ref>{{cite web \|title=Ministry of Home Affairs \|url=https://padmaawards.gov.in/PDFS/2020AwardeesList.pdf \|access-date=25 January 2020 \|website=padmaawards.gov.in}}</ref><ref>{{cite web \|date=26 January 2020 \|title=IIT Madras congratulates its professors, alumnus on being conferred with Padma awards \|url=https://www.hindustantimes.com/education/iit-madras-congratulates-its-professors-alumnus-on-being-conferred-with-padma-awards/story-lZHypBXbqONVYnAMxCEWgK.html \|access-date=26 January 2020 \|publisher=Hindustan Times}}</ref>

	==See also==		==See also==

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{{Short description|Indian-Canadian businessman (born 1950)}}
{{Use dmy dates|date=February 2020}}
{{EngvarB|date=February 2020}}
{{Infobox officeholder
| name = Prem Watsa
| honorific_suffix = {{post-nominals|size=100%|CM}}
| image = Prem Watsa.jpg
| office = 9th [[List of University of Waterloo people#Chancellors|Chancellor]] of the [[University of Waterloo]]
| predecessor = [[Mike Lazaridis]]
| successor = Tom Jenkins
| termstart = 2009
| termend = 2014
| 1blankname1 = President/Vice Chancellor
| 1namedata1 = <br>[[David Lloyd Johnston|David Johnston]]
| birth_date = {{Birth date and age|df=yes|1950|08|05}}
| birth_place = [[Hyderabad]], [[Hyderabad State (1948–1956)|Hyderabad State]] (present-day [[Telangana]]), India
| nationality = [[Canadian people|Canadian]]<ref>{{Cite web|url=https://www.nndb.com/people/168/000278331/|title=Prem Watsa|website=www.nndb.com}}</ref>
| alma_mater = {{Unbulleted_list|[[IIT Madras]]|[[University of Western Ontario]]}}
| occupation = Businessman
| boards = Chairman of [[Fairfax Financial|Fairfax Financial Holdings]]
}}

'''Prem Watsa''' {{post-nominals|CM}} (born 5 August 1950) is an [[Indo-Canadians|Indian-Canadian]] billionaire businessman who is the founder, chairman, and [[CEO|chief executive]] of [[Fairfax Financial Holdings]], based in [[Toronto]].<ref>(BusinessWeek.com - Executive Profile - Prem Watsa/FFH) [http://investing.businessweek.com/research/stocks/people/person.asp?personId=1136292&symbol=FFH.TO]{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}</ref><ref>(Forbes.com - Executive Profile - Prem Watsa/FFH) [https://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=890456]{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}}</ref><ref>[http://biz.yahoo.com/ic/56/56469.html Yahoo! Finance - Company Profile of Fairfax Financial]{{Dead link|date=May 2023}}</ref><ref>{{Cite web |last=Gad |first=Sham |date=2007-12-05 |title=How to Dodge the Debt |url=https://www.fool.com/investing/general/2007/12/05/how-to-dodge-the-debt.aspx |access-date=2023-05-24 |website=The Motley Fool |language=en}}</ref> He has been called the "Canadian [[Warren Buffett]]."<ref>{{Cite web|url=https://www.theglobeandmail.com/servlet/story/RTGAM.20060126.rmprem0127/BNStory/specialROBmagazine/?pageRequested=all|title=reportonbusiness.com: Short shrift|website=[[The Globe and Mail]] |access-date=8 September 2017|archive-date=20 April 2006|archive-url=https://web.archive.org/web/20060420012844/http://www.theglobeandmail.com/servlet/story/RTGAM.20060126.rmprem0127/BNStory/specialROBmagazine/?pageRequested=all|url-status=dead}}</ref><ref name=Bloomberg>{{cite news|last1=Feeley|first1=Jef|url=https://www.bloomberg.com/news/articles/2010-04-22/zenith-national-investors-lose-bid-to-halt-fairfax-financial-acquisition|title=Zenith National Investors Lose Bid to Halt Buyout|
access-date=8 June 2015|work=Bloomberg|date=22 April 2010}}</ref> He was awarded the fourth highest civilian award of India, [[Padma Shri]], in January 2020.<ref>{{cite web | url=https://economictimes.indiatimes.com/magazines/panache/anand-mahindra-venu-srinivasan-to-be-honoured-with-padma-bhushan-naukri-com-founder-to-get-padma-shri/articleshow/73628195.cms| title=Anand Mahindra, Venu Srinivasan to be honoured with Padma Bhushan; Naukri.com founder to get Padma Shri | publisher=[[The Economic Times]] | date=26 January 2020 | access-date=26 January 2020}}</ref><ref>{{cite web |title=MINISTRY OF HOME AFFAIRS |url=https://padmaawards.gov.in/PDFS/2020AwardeesList.pdf |website=padmaawards.gov.in |access-date=25 January 2020}}</ref><ref>{{cite web | url=https://www.hindustantimes.com/education/iit-madras-congratulates-its-professors-alumnus-on-being-conferred-with-padma-awards/story-lZHypBXbqONVYnAMxCEWgK.html | title=IIT Madras congratulates its professors, alumnus on being conferred with Padma awards | publisher=Hindustan Times | date=26 January 2020 | access-date=26 January 2020}}</ref>

==Early life and education==
Watsa was born in [[Hyderabad]], [[India]] in a Christian family converted from Hinduism a few generations back. He attended [[Hyderabad Public School]] and the [[Indian Institute of Technology Madras]]<ref>{{cite web|url=http://alumni.iitm.ac.in/citations-1999-distinguished-alumnus-awards-recipients/|title=Citations: 1999 Distinguished Alumnus Awards Recipients - Office Of Alumni Relations|website=alumni.iitm.ac.in}}</ref><ref name=CB>{{cite news|last1=Castaldo|first1=Joe|title=The man with nothing to lose|url=http://www.canadianbusiness.com/companies-and-industries/the-man-with-nothing-to-lose/|access-date=8 June 2015|work=Canadian Business|date=10 October 2013}}</ref> where he graduated with a degree in chemical engineering. He later moved to [[London, Ontario]], and went to the [[Richard Ivey School of Business]] at the [[University of Western Ontario]], where he earned an [[Master of Business Administration|MBA]]. Watsa left India with {{USD|8}}, sold furnaces and air conditioners to financially support his university education.<ref name=gadgets>{{cite web |last=Doval |first=Pankaj |url=http://www.gadgetsnow.com/tech-news/Prem-Watsa-the-richest-savviest-guy-youve-never-heard-of/articleshow/23016589.cms |title=Prem Watsa, the 'richest, savviest guy you've never heard of' |work=Gadgets Now |date=25 September 2013 |access-date=28 March 2017}}</ref> He is a distinguished alumnus of [[Indian Institute of Technology Madras|IIT Madras]].<ref name=CB />

==Career==
After graduating, Watsa worked for the insurance company [[Confederation Life]]. In 1984, he started an investment firm with his former boss Tony Hamblin, called Hamblin Watsa Investment Counsel.<ref name=CB /> In 1985, Watsa took over Markel Financial, a small Canadian trucking insurance company that was verging on bankruptcy,<ref name=gadgets/> and renamed it [[Fairfax Financial|Fairfax Financial Holdings]].<ref name=CB /> He helped grow the company, where it reached annual revenues of $8 billion a year in 2012.<ref name=CB /> Despite his success, he largely stayed out of the public eye, only beginning to hold investor conference calls in 2001.<ref name=CB /><ref name=gadgets/>

On 22 January 2012, it was reported he was to be appointed to the board of directors of [[Research In Motion]] (RIM) in the company's largest ever corporate shakeup. Watsa resigned in August 2013, but kept his investment in the company. On 23 September 2013, [[BlackBerry Ltd|BlackBerry]] announced that it had signed a letter of intent to be acquired by [[Fairfax Financial Holdings]] in a $4.7 billion deal.<ref>{{cite web|title=Indian Billionaire Prem Watsa buying Blackberry for $4.7 Billion|url=http://news.biharprabha.com/2013/09/indian-billionaire-prem-watsa-buying-blackberry-for-4-7-billion/|access-date=24 September 2013}}</ref> Fairfax Financial Holdings is "the largest insurer of the for-profit bail industry in the U.S."<ref>{{Cite web|url=https://www.aclu.org/news/|title=ACLU News & Commentary|website=American Civil Liberties Union}}</ref>

In April 2017, Watsa brought attention to concerns of a real estate bubble in [[Toronto]]. He asserts that most Canadian banks cannot survive a 50% drop in the value of real estate. "It's going to come down, and a lot of people are going to get hurt" said Watsa during Fairfax's annual general meeting.<ref>{{cite news |last1= |first1= |date=20 April 2017 |title='People are going to get hurt': Fairfax's Prem Watsa says Toronto real estate bubble will burst |newspaper=Financial Post |url=http://business.financialpost.com/personal-finance/mortgages-real-estate/people-are-going-to-get-hurt-fairfaxs-prem-watsa-says-toronto-real-estate-bubble-will-burst}}</ref>

===Volunteering===
He is a member of the Board of Trustees of [[The Hospital for Sick Children, Toronto|The Hospital for Sick Children]], a member of the Advisory Board for the Richard Ivey School of Business, a member of the Board of Directors of the [[Royal Ontario Museum]] Foundation, and Chairman of the Investment Committee of St. Paul's Anglican Church.

In June 2009, he was appointed as the ninth chancellor of the [[University of Waterloo]].<ref>{{cite web|url=http://newsrelease.uwaterloo.ca/news.php?id=5081|title=Home - Waterloo News|date=26 June 2012}}</ref>

He was named a [[Member of the Order of Canada]] in 2015.<ref>[http://thechronicleherald.ca/canada/1296405-four-nova-scotians-among-order-of-canada-honourees "Four Nova Scotians among Order of Canada honourees"]. ''[[The Chronicle-Herald]]'', 1 July 2015.</ref>

In September 2017, he was elected as the first chancellor of [[Huron University College]].<ref>{{Cite web |title=Prem Watsa appointed Chancellor of Huron |url=http://huronuc.ca/AboutHuron/News/NewsDetail?q=f54ce115-dd8d-4cba-b102-cf8399c09475 |url-status=dead |archive-url=https://web.archive.org/web/20180910121956/http://www.huronuc.ca/AboutHuron/News/NewsDetail?q=f54ce115-dd8d-4cba-b102-cf8399c09475 |archive-date=2018-09-10 |access-date=2023-05-24}}</ref>

==See also==
* [[List of University of Waterloo people]]

==References==
{{Reflist}}

==External links==
* [http://www.fairfax.ca/corporate.htm Fairfax Financial - Corporate] {{Webarchive|url=https://web.archive.org/web/20071217020004/http://www.fairfax.ca/corporate.htm |date=17 December 2007 }}
* [http://www.bengrahaminvesting.ca/About_Us/advisory_board.htm BengrahamInvesting Advisory Board]
* [http://www.marketvisual.com/d/V_/V_Prem_Watsa_e309_1.htm MarketVisual.com - V Prem Watsa - Direct Relationships] {{Webarchive|url=https://web.archive.org/web/20081201060038/http://www.marketvisual.com/d/V_/V_Prem_Watsa_e309_1.htm |date=1 December 2008 }}

{{Padma Shri Award Recipients in Trade & Industry}}
{{University of Waterloo}}
{{Authority control}}

{{DEFAULTSORT:Watsa, Prem}}
[[Category:1950 births]]
[[Category:Living people]]
[[Category:20th-century Canadian businesspeople]]
[[Category:21st-century Canadian businesspeople]]
[[Category:Canadian billionaires]]
[[Category:Chancellors of the University of Waterloo]]
[[Category:Businesspeople from Hyderabad, India]]
[[Category:Indian Institutes of Technology alumni]]
[[Category:University of Western Ontario alumni]]
[[Category:Directors of BlackBerry Limited]]
[[Category:Indian emigrants to Canada]]
[[Category:Members of the Order of Canada]]
[[Category:Recipients of the Padma Shri in trade and industry]]
[[Category:Fairfax Financial]]