{
  "id": 18660253,
  "title": "Left India with $8 in 1972, now 'Canada's Warren Buffett' in ₹52,878 crore bank deal",
  "url": "https://urgent.news/2026/11/07/left-india-with-8-in-1972-now-canadas-warren-buffett-in-52-878-crore",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-07T06:26:59.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/life-style/people/he-left-india-in-1972-with-just-8-and-worked-as-a-salesman-to-survive-54-years-later-the-hyderabad-born-investor-known-as-canadas-warren-buffett-is-making-a-52878-crore-bank-deal/articleshow/135618936.cms"
  },
  "original_language": "en",
  "account": "In 1972, young Prem Watsa arrived in Canada with only $8 to his name, having immigrated from Hyderabad. Despite lacking financial backing, he took up sales jobs to fund his education, working in the freezing Canadian winters and summer heat. Today, more than five decades later, Watsa, an Indian-Canadian billionaire businessman, is at the center of a major proposed banking transaction in India. His company, Fairfax Financial Holdings, has been chosen as the strategic buyer for a 60.72% stake in IDBI Bank, valued at ₹52,878 crore.\n\nKnown as \"Canada's Warren Buffett\" due to his long-term, value-investing approach, Watsa's journey from an immigrant student to the head of a global financial services group is one of determination and patience. His path began with a chemical engineering degree from IIT Madras, followed by an MBA at the University of Western Ontario. After working in the insurance industry, he founded Hamblin Watsa Investment Counsel in 1984, which eventually evolved into Fairfax Financial Holdings in 1987.\n\nWatsa's continued interest in India led him to establish Fairfax India Holdings Corporation in 2014, investing in various sectors such as insurance, banking, travel, chemicals, and infrastructure. He remains optimistic about India's economic prospects, expressing confidence in the country's future as a destination for long-term investments. In 2020, he was honored with the Padma Shri, India's fourth-highest civilian award, for his contributions to trade and industry.",
  "summary": "Prem Watsa, beginning his journey in Canada with just $8, has crafted a formidable financial empire over five decades. His recent initiation to obtain a major stake in IDBI Bank underscores his unwavering commitment to the Indian economy. Founder of Fairfax Financial Holdings, Watsa emphasizes long-term investments across multiple sectors in India.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}