V. Prem Watsa is a 74-year-old businessman of Indian origin who has built an extraordinary fortune in Canada after arriving in the country with just Rs 64 in his pocket. According to Forbes, Watsa is among the richest Indians in Canada with a staggering net worth of $2.2 billion. Watsa’s journey to wealth and success is the epitome of a rags-to-riches story.

Born in Hyderabad, Watsa moved to Canada to join his brother and enrolled in University of Western Ontario’s MBA program. To fund his education, he took up a humble job of selling appliances door-to-door.

Watsa’s career began as an investment analyst, but his true breakthrough came in 1985 when he founded Fairfax Financial Holdings, a Toronto-based financial services company.

Inspired by the legendary Warren Buffett, Watsa followed a similar investment strategy, acquiring underperforming insurance companies, turning them around and steadily building a global empire.

Today, Fairfax Financial holds property and casualty insurance and reinsurance businesses across multiple countries. The firm also holds significant stakes in major companies like BlackBerry and GE.

Watsa’s influence extends beyond business. He is also a co-founder and director of The BlackNorth Initiative, a movement aimed at ending systemic racism in Canadian businesses.

Ranked 1851 in the Forbes real-time billionaire list as of 2024, Watsa’s story continues to inspire immigrants and entrepreneurs worldwide, proving that resilience, smart investments and hard work can turn even the smallest beginnings into a global success story.