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| termend = 2014 | | termend = 2014 | ||
| 1blankname1 = President/Vice Chancellor | | 1blankname1 = President/Vice Chancellor | ||
| 1namedata1 = | | 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 | ||
| | | 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] | '''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> | ||
==Early life and education== | ==Early life and education== | ||
Watsa was born in [[Hyderabad]], [[India]] | 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> | ||
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== | ||
Latest revision as of 10:00, 25 February 2026
Prem Watsa | |
|---|---|
 | |
| 9th Chancellor of the University of Waterloo | |
| In office 2009–2014 | |
| Preceded by | Mike Lazaridis |
| Succeeded by | Tom Jenkins |
| President/Vice Chancellor | David Johnston |
| Chairman of Fairfax Financial Holdings | |
| Personal details | |
| Born | 5 August 1950 Hyderabad, Hyderabad State (present-day Telangana), India |
| Nationality | Canadian[1] |
| Alma mater | |
| Occupation | Businessman |
V. Prem Watsa CM (born 5 August 1950) is an Indian-Canadian billionaire businessman who is the founder, chairman, and chief executive of Fairfax Financial Holdings, based in Toronto.[2][3][4][5]
Early life and education[edit | edit source]
V. Prem Watsa[6] was born in Hyderabad, India. He attended Hyderabad Public School and the Indian Institute of Technology Madras[7][8] 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 MBA. Watsa left India with US$8, sold furnaces and air conditioners to financially support his university education.[dubious ][9] He is a distinguished alumnus of IIT Madras.[8]
Career[edit | edit source]
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.[8] In 1985, Watsa took over Markel Financial, a small Canadian trucking insurance company that was verging on bankruptcy,[9] and renamed it Fairfax Financial Holdings.[8] He helped grow the company, where it reached annual revenues of $8 billion a year in 2012.[8] Despite his success, he largely stayed out of the public eye, only beginning to hold investor conference calls in 2001.[8][9] He has been called the "Canadian Warren Buffett."[10][11]
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 announced that it had signed a letter of intent to be acquired by Fairfax Financial Holdings in a $4.7 billion deal.[12] Fairfax Financial Holdings is "the largest insurer of the for-profit bail industry in the U.S."[13]
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.[14]
Volunteering[edit | edit source]
He is a member of the Board of Trustees of 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.[15]
In September 2017, he was elected as the first chancellor of Huron University College.[16]
Awards[edit | edit source]
He was named a Member of the Order of Canada in 2015.[17] Watsa was inducted into the Canadian Business Hall of Fame in 2024.[18]
He was awarded the fourth highest civilian award of India, Padma Shri, in January 2020.[19][20][21]
See also[edit | edit source]
References[edit | edit source]
- ↑ "Prem Watsa". www.nndb.com.
- ↑ (BusinessWeek.com - Executive Profile - Prem Watsa/FFH) [1][dead link]
- ↑ (Forbes.com - Executive Profile - Prem Watsa/FFH) [2][dead link]
- ↑ Yahoo! Finance - Company Profile of Fairfax Financial
- ↑ Gad, Sham (5 December 2007). "How to Dodge the Debt". The Motley Fool. Retrieved 24 May 2023.
- ↑ www.sec.gov https://www.sec.gov/Archives/edgar/data/915191/000110465923020379/tm235999d1_sc13ga.htm. Retrieved 23 December 2025.
{{cite web}}: Missing or empty|title=(help) - ↑ "Citations: 1999 Distinguished Alumnus Awards Recipients - Office Of Alumni Relations". alumni.iitm.ac.in.
- ↑ 8.0 8.1 8.2 8.3 8.4 8.5 Castaldo, Joe (10 October 2013). "The man with nothing to lose". Canadian Business. Retrieved 8 June 2015.
- ↑ 9.0 9.1 9.2 Doval, Pankaj (25 September 2013). "Prem Watsa, the 'richest, savviest guy you've never heard of'". Gadgets Now. Retrieved 28 March 2017.
- ↑ "reportonbusiness.com: Short shrift". The Globe and Mail. Archived from the original on 20 April 2006. Retrieved 8 September 2017.
- ↑ Feeley, Jef (22 April 2010). "Zenith National Investors Lose Bid to Halt Buyout". Bloomberg. Retrieved 8 June 2015.
- ↑ "Indian Billionaire Prem Watsa buying Blackberry for $4.7 Billion". Retrieved 24 September 2013.
- ↑ "ACLU News & Commentary". American Civil Liberties Union.
- ↑ "'People are going to get hurt': Fairfax's Prem Watsa says Toronto real estate bubble will burst". Financial Post. 20 April 2017.
- ↑ "Home - Waterloo News". 26 June 2012.
- ↑ "Prem Watsa appointed Chancellor of Huron". Archived from the original on 10 September 2018. Retrieved 24 May 2023.
- ↑ "Four Nova Scotians among Order of Canada honourees". The Chronicle-Herald, 1 July 2015.
- ↑ "Meet this year's Inductees to the Canadian Business Hall of Fame". Globe and Mail. 23 May 2024.
- ↑ "Anand Mahindra, Venu Srinivasan to be honoured with Padma Bhushan; Naukri.com founder to get Padma Shri". The Economic Times. 26 January 2020. Retrieved 26 January 2020.
- ↑ "Ministry of Home Affairs" (PDF). padmaawards.gov.in. Retrieved 25 January 2020.
- ↑ "IIT Madras congratulates its professors, alumnus on being conferred with Padma awards". Hindustan Times. 26 January 2020. Retrieved 26 January 2020.
External links[edit | edit source]
- Fairfax Financial - Corporate Archived 17 December 2007 at the Wayback Machine
- BengrahamInvesting Advisory Board
- MarketVisual.com - V Prem Watsa - Direct Relationships Archived 1 December 2008 at the Wayback Machine