Jorge Paulo Lemann
|Jorge Paulo Lemann|
|Born||August 26, 1939 (age 75)
Rio de Janeiro, Brazil
|Net worth|| US$ 22.7 billion (est.)
(Forbes, May 2014)
|Spouse(s)||Married, 5 children|
Jorge Paulo Lemann (born August 26, 1939) is a Swiss-Brazilian banker. He is ranked as the 37th richest person in the world by Bloomberg Billionaire Index, with an estimated net worth of US$21.9 billion as of May 2014 and is Brazil’s richest man. As of 2013, Forbes Brazil listed Lemann as the top entry for the Richest Brazilians list.
Life and career
Lemann was born in Rio de Janeiro to Paul Lemann, a Swiss immigrant and a Brazilian mother. He received his Bachelors degree from Harvard University in Economics in 1961. From 1961 to 1962 he worked as trainee at Credit Suisse in Geneva.
In 1971 he and three partners founded the Brazilian investment banking firm Banco Garantia. Undaunted by a horrific market crash that came only weeks later, Lemann was eventually able to build Garantia into one of the country's most prestigious and innovative investment banks, described in Forbes as "a Brazilian version of Goldman Sachs."
Later he and his partners, who founded private equity company GP Investimentos, bought control of two Brazilian breweries (Brahma and Antarctica) that became AmBev. In 2003 AmBev had a pretax profit margin of 35 percent on sales of US$ 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.
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 named Anheuser-Busch Inbev (abbreviated as AB Inbev) and securing Lemann's status as one of the new "Kings" of beer.
A onetime tennis champion (he played for the Swiss Davis Cup team, gained titles in Brazil and even 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 AB Inbev 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 $4 billion 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. 3G already has some experience in burgers and fries, having previously invested in Wendy’s." Together with Berkshire Hathaway, 3G Capital acquired the H. J. Heinz Company for $28 billion in 2013. Its new CEO Bernardo Hees is a former manager of Burger King.
He previously served as a member of the board of directors of Brahma from 1990 to 2001. Lemann currently serves on the Board of Directors of Endeavor Brazil office. Endeavor is an international non-profit development organization that finds and supports high-impact entrepreneurs in emerging markets.
- Cristiane Correa: Dream Big. GMT Editores, Rio de Janeiro, 2014 (biography)
- List of Brazilians by net worth
- Stefan Barmettler: Der Brauer vom Zuerichsee. Handelszeitung, Nr. 19, May 8, 2014, p. 7
- Bowers, Simon (July 15, 2008). "Jorge Paulo Lemann: A brewing, banking Brazilian billionaire". The Guardian (London).
- "The World's Billionaires". Forbes.
- "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
- Antunes, Anderson. "The richest people in Brazil 2013". Forbes.
- 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.
- Acquisition of H. J. Heinz Company in 2013
- Inbev Prospectus January 2005
- Forbes profile: Jorge Paulo Lemann