V. Prem Watsa was born in Toronto, Canada, Canada. V. Prem Watsa is #1948 in List Billionaires People In The World. Prem Watsa founded Toronto-based financial services firm Fairfax Financial Holdings in 1985 and remains its chairman and CEO. Born in Hyderabad, India, he later joined his brother in Canada, and then enrolled in the University of Western Ontario's MBA program. He paid his way through school by selling appliances door-to-door. After a stint as an investment analyst, Watsa struck out on his own in 1984. He began snatching up insurance companies, modeling his business after the success of his idol: Warren Buffett. Fairfax now maintains property and casualty insurance and reinsurance interests across four continents and holds stakes in numerous companies, including IBM and phone maker BlackBerry. He also owns a stake in Fairfax India, a publicly traded subsidiary investing in Indian businesses.