Jorge Paulo Lemann
|Jorge Paulo Lemann|
|Born||August 26, 1939 (age 75)
Rio de Janeiro, Brazil
|Net worth|| US$ 25 billion (est.)
(Forbes, Mar 2015)
|Spouse(s)||Married, 5 children|
Jorge Paulo Lemann (born August 26, 1939) is a Swiss-Brazilian banker. He is ranked as the 26th richest person in the world by Bloomberg Billionaire Index, with an estimated net worth of US$25 billion as of February 2015[update], is Brazil's richest man and Switzerland's second one. As of 2013[update], Forbes Brazil listed Lemann as the top entry for the Richest Brazilians list.
In 1953, at age 14, Lemann lost his father to a bus accident.
In 1961, he received his Bachelor's of Arts degree in Economics from Harvard University.
In his youth, he was a five-time Brazilian national tennis champion. A onetime tennis champion (he played for both the Swiss and Brazil Davis Cup teams, gained titles in Brazil, and even played at Wimbledon). Lemann was five times Brazilian Champion and represented not only Brazil but also Switzerland at the DavisCup.
His first wife was Maria de Santiago Dantas Quental, a psychoanalyst who died in April 2005.
His second wife is Susanna Lemann, Swiss Brazilian naturalized educator, who gave birth to three children.
In 1999, criminals attempted to kidnap his three young children. A driver was taking them to school when two cars blocked the street. The would-be kidnappers opened fire. Although the driver was wounded, he managed to get the children to safety. Lemann would soon move his family to Switzerland, but on the day of the shooting his children did not miss school. Nor did Lemann himself miss any meetings, according to Sonho Grande and a former associate who asked not to be named. To his business partners, the only sign something was amiss was that he arrived late.
In 1966, the first company in which Lemann had equity interest, a lending company called Invesco, went bankrupt. Lemann had a 2% equity stake.
In 1971, Lemann, Carlos Alberto Sicupira and Marcel Herrmann Telles 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." All three now help to control AB Inbev as members of its board of directors.
In 1994, he suffered a heart attack, at age 54.
Later he and his partners, who founded private equity company GP Investimentos, bought control of two Brazilian breweries (Brahma beer and Companhia Antarctica Paulista) 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 the American brewer Anheuser-Busch in 2008 for $46 billion in a highly controversial deal, making it the world's largest brewer, Anheuser-Busch Inbev (abbreviated as AB Inbev) securing Lemann's status as one of the new "Kings" of beer.
Lemann is a board member of Lojas Americanas S.A. and was a former board member of Gillette; 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 Credit Suisse 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. The same group announced the merger of Kraft Foods with the H. J. Heinz Company on March 25, 2015.
From 1990 to 2001, he served as a member of the board of directors of Brahma. 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.
- "The World's Billionaires". Forbes. Retrieved 25 March 2015.
- "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.
- Lemann in Brazil and Swiss Davis Cup team
- Forbes profile: Jorge Paulo Lemann
- 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
- Merger announcement Kraft with Heinz, March 2015
- Inbev Prospectus January 2005