Jamaica is considered an upper-middle-income country by the World Bank. Its economy relies heavily on services, which account for 70% of the country’s GDP. Jamaica’s economy is unstable, slow, and weakened by high debt rates. In the face of such economic woes, you must be wondering if there are any wealthy men in the Caribbean country.
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Who is the richest man in Jamaica?
There are so many rich and influential people in Jamaica. Most of the billionaires and millionaires in the country are successful businesspeople. However, musical artists have amassed a million-dollar fortune in their careers.
1. Joseph M. Matalon – $3.6 billion
Joseph M. Matalon is the richest man in Jamaica, with a net worth of $3.6 billion. He has built his fortune with the salary he receives as the Chairman of ICD Group Holdings. This is a Jamaican investment holding company. He has also topped up his bank balance with the income he receives as the Chairman of RJR Gleaner Communications Group, a media firm.
Previously, he served as Chairman of the Development Bank of Jamaica. Matalon boasts of more than three decades of experience as a business leader. He established the FirstAngels Jamaica network to encourage the next generation of entrepreneurs.
2. Michael Lee-Chin – $1.8 billion
Lee-Chin is a famous billionaire in Jamaica. He was born on January 3, 1951, in Port Antonio, Jamaica. Lee-Chin has made a fortune from investing in financial companies such as AIC Limited and National Commercial Bank Jamaica. He has also boosted his bank account with the income he receives as the founder and Chairman of Portland Holdings Inc.
Lee Chin is renowned for his philanthropic work. Over the years, he has made several significant donations to non-profits, including $30 million to the Royal Ontario Museum. His net worth is estimated at $1.8 billion as of 2022.
3. Blossom O’Meally-Nelson – $1 billion
Blossom is the richest woman in Jamaica. She has earned her net worth from different sources. In 2000, she was appointed the first female Postmaster General of Jamaica. She has also amassed a fortune from her involvement in the logistics company Aermar Group. Previously, she served as the pro-chancellor and chair of the Council for the University of Technology (UTECH).
4. Wayne Chen- $1 billion
Wayne Christopher Chen is the brother of Michael Lee-Chin. Even though he is not the richest person in his family, he has amassed a $1 million fortune from various endeavors in the business world. He has boosted his bank account with the salary he receives as Super Plus Food Stores CEO.
5. Paula Kerr-Jarrett – $1 billion
Jarrett is one of the richest women in Jamaica. She has amassed a net worth of $1 million from different endeavors. Paula is a famous attorney, philanthropist, and former politician.
Recently, she launched a project to establish a university and build about 1200 homes and a technology park on a 48-acre piece of land as part of the initiative to re-develop Montego Bay.
6. Chris Blackwell – $300 million
Blackwell was born in Westminster, London, England, but his family relocated to Jamaica soon after his birth. He has amassed a fortune of $300 million as a record producer and businessman. Chris earned his fortune as the founder of Island Records.
The record company is credited with helping spread reggae music to the world. He was inducted into the Rock and Roll Hall of Fame in 2001. Blackwell is involved in several philanthropic organizations.
7. Usain Bolt – $90 million
Usain was born on August 21, 1986, in Sherwood Content, Jamaica. Usain has amassed a fortune from his lucrative athletics career, having won eight Olympic golds and 19 Guinness World Records in the 100m, 200m, and 4x100m relay. His net worth is estimated at $90 million. The bulk of his net worth comes from the prize money he earns in competitions.
At the peak of his competitive career, he was one of the highest-paid athletes in the world. Usain also pockets a significant sum as appearance fees when he shows up at some events. He has endorsement deals with brands such as Visa and Puma.
8. Rita Marley – $50 million
Rita is renowned for her status as the widow of the legendary reggae musician Bob Marley. She served as Bob Marley’s backup singer. After her husband died in 1981, she carried on his musical legacy while at the same time developing her career as a solo artist.
She is the founder of the Bob Marley Foundation and the Bob Marley Group of Companies. Her net worth is estimated at $50 million as of 2022. Bob Marley died without leaving a will, but a significant portion of his estate was given to Rita.
9. Levi Roots – $45 million
Levi was born on June 24, 1958, in Clarendon, Jamaica. He is a famous reggae musician, television personality, businessman, author, and celebrity chef. Levi rose to fame in 1992 when he performed Happy Birthday Mr. President for Nelson Mandela.
His net worth is estimated at $40 million. Reggae’s music is his primary source of net worth. He has also boosted his net worth with the income he received from appearances in shows such as Dragon’s Den. Levi has topped up his bank balance with the income he receives from his businesses.
10. Sean Paul – $25 million
Sean wears many hats. He is a singer, musician, songwriter, actor, dancehall rapper, and record producer. Sean is credited for bringing the Dancehall genre to an international stage. In addition, he has made Jamaican slang and dialect more accessible to the average listener. His net worth is estimated at $25 million.
He has topped up his bank balance with the income he receives from album sales. Most of his albums have been nominated for Grammy Awards. Sean has also pocketed an impressive sum from other sources, including tours/live shows, royalties, endorsements, and much more.
11. Damian Marley – $20 million
Damian Robert Nesta Marley is a famous Jamaican DJ, singer and rapper. He was born on July 21, 1978, in Kingston, Jamaica. Damian is renowned for his status as the youngest son of reggae singer Bob Marley. His net worth is estimated at $20 million as of 2022.
The bulk of his net worth comes from the sale of music albums. He has released multiple albums, and most of his songs have topped the music charts. His second album, Halfway Tree, won him the Best Reggae Album award at the 2002 Grammy Awards.
12. Joseph John Issa – $16 million
John Issa was born on December 1, 1965. He is a famous Jamaican businessman and philanthropist. At the age of 30, he established his first business, a petrol station and named it Cool Oasis. His Cool Group company is the largest operator of petrol stations in Jamaica.
Over the years, Cool Brand has rapidly grown into a group of more than 50 companies engaged in various activities. The Cool Group comprises several companies specializing in telephone card distribution, household, and automotive products. He has amassed a net worth of $16 million from his business endeavours.
13. Shaggy – $14 million
Shaggy, whose real name is Orville Richard Burrell CD, is a famous reggae singer, deejay, and actor. He boasts of several Grammy nominations and a Grammy win in 2019. The reggae artist also boasts of countless chart-topping successes and several best-selling Reggae songs.
He has amassed a net worth of $14 million from his studio albums. Shaggy has also pocketed a significant sum from his appearances in film productions and TV shows such as The Little Mermaid Live. He has bagged several endorsement deals appearing in ads for brands such as Pepsi Cola, Cheetos, and Maxi King.
14. Jimmy Cliff – $10 Million
Jimmy, whose real name is James Chambers OM, was born on July 30, 1944, in St. James Parish, Jamaica. He wears many hats. Cliff is a famous reggae and soul musician, ska, rocksteady, actor, singer, and multi-instrumentalist. He has amassed a net worth of $10 million from different endeavors.
Jimmy has earned his net worth through his hit singles and albums such as Wonderful World, Beautiful People, and Journey of a Lifetime. He has also topped his bank balance with the income he receives from his appearance in movies and TV shows such as The Harder They Come, Club Paradise, and others.
15. Ziggy Marley – $10 million
David Nesta Marley, famously known as Ziggy Marley, was born in Kingston, Jamaica, on October 17, 1968. He is renowned for his status as the son of the legendary reggae artist Bob Marley. He is a musician, guitarist, voice actor, and singer-songwriter.
He has amassed a net worth of $10 million from his successful career. The bulk of his net worth comes from the income he receives from the sale of his music albums and singles. Some of his popular tracks include True to Myself, Tomorrow People, and People Get Ready.
