Jorge Paulo Lemann
| Jorge Paulo Lemann | |
|---|---|
| Born | August 26, 1939 (age 73) Rio de Janeiro, Brazil |
| Residence | Sao Paulo, Brazil[1] |
| Ethnicity | Swiss[2][3] |
| Citizenship | Brazil |
| Education | Harvard University[1] |
| Net worth |  US$ 18.9 billion (est.)(Forbes, November 2012)[1] |
| Spouse(s) | Married, 5 children[1] |
Jorge Paulo Lemann (born August 26, 1939)[4] is a Brazilian banker. He is ranked as the 37th richest person in the world by Bloomberg Billionaire Index, with an estimated net worth of US$18.9 billion as of November 2012[1] and is Brazil’s richest man.[5]
Life and career
Lemann was born in Elói Mendes, to Swiss immigrants. He received his Bachelors degree from Harvard University in Economics in 1961. From 1961 to 1962 he worked as trainee at Credit Suisse.
In 1971 he and three partners founded the Brazilian investment banking firm Banco Garantia. Undaunted by a horrific market crash that came only weeks later, Lemann was eventually able to build Garantia into one of the country's most prestigious and innovative investment banks, described in Forbes as "a Brazilian version of Goldman Sachs."
Later he and his partners bought control of a Brazilian brewery that eventually became AmBev. In 2003 AmBev had a pretax profit margin of 35 percent on sales of USD $2.7 billion. It controlled 65 percent of the Brazilian beer market and almost 80 percent of Argentina's, with monopoly positions in Paraguay, Uruguay, and Bolivia.[6]
AmBev merged with Interbrew of Belgium in August 2004. The stock of the combined firm, InBev, soared 40 percent during 2005.
InBev then announced it would buy legendary American brewer Anheuser-Busch in 2008 for $46 billion in a highly controversial deal, making it the world's largest brewer and securing Lemann's status as one of the new "Kings" of beer. [7]
A onetime tennis champion (he played at Wimbledon), Lemann still actively invests in Brazil with former Banco Garantia partners - and fellow billionaires - Marcel Herrmann Telles and Carlos Alberto Sicupira. All three now help to control Anheuser-Busch as members of its board of directors.
In addition, Jorge Paulo Lemann is also a board member of Lojas Americanas S.A. and was a former board member of the Gillette Company; Chairman of the Latin American Advisory Committee of the New York Stock Exchange; founder and board member of Fundação Estudar, which provides scholarships for Brazilian students; and a member of the International Advisory Boards of the Credit Suisse Group and DaimlerChrysler.
Lemann is among the backers of 3G Capital. In September 2010, 3G launched a US$ 4bn bid, at a 45% premium over market, for all the stock of Burger King. "3G was advised in the BK offer by Lazard, JPMorgan Chase, Barclays Capital and the law firm Kirkland & Ellis.... [The firm] already has some experience in burgers and fries, having previously invested in Wendy’s."[8]
He previously served as a member of the board of directors of Brahma from 1990 to 2001.[9] Jorge Paulo Lemann is a second time married and has five children. He shuttles between São Paulo, Lake Zurich and St. Louis.[10][11]
Lemann currently serves on the Board of Directors of EndeavorBrazil office. Endeavor is an international non-profit development organization that finds and supports high-impact entrepreneurs in emerging markets.
References
- ^ a b c d e http://www.forbes.com/profile/jorge-paulo-lemann/
- ^ http://www.guardian.co.uk/business/2008/jul/15/fooddrinks.mergersandacquisitions1
- ^ http://jorgepaulolemann.crazybillionaire.org/jorgepaulolemann.php
- ^ "Today's ranking of the world's richest people of brazil". Bloomberg. 29 November 2012. Retrieved 30 November 2012.
- ^ http://www.economist.com/news/business/21572227-under-new-ownership-heinz-will-both-slim-down-and-bulk-up-now-56-varieties Packaged food: Now, 56 varieties
- ^ Richard Tomlison, The New King of Beer, Fortune Magazine, October 18, 2004
- ^ Julie MacIntosh, Dethroning the King: The Hostile Takeover of Anheuser-Busch, an American Icon; 2010
- ^ "Burger King to Sell Itself to 3G for $4 Billion", "Dealbook" blog, The New York Times, September 2, 2010, 9:50 am. Retrieved 2010-09-02.
- ^ Inbev Prospectus January 2005
- ^ Forbes profile: Jorge Paulo Lemann
- ^ http://www.nzz.ch/aktuell/wirtschaft/wirtschaftsnachrichten/banker-braumeister-und-burgerketten-besitzer-1.17859828
External links
- Brazil's Top 50 Businesspeople. Latinvex, February 25, 2013.
- Latin America's most important businessmen. Latin Business Chronicle.
