Table of Contents
Net Worth
Jorge Paulo Lemann has a net worth of $20 billion.
Highlights
- Jorge Paulo Lemann is the richest person in Brazil and one of the 100 richest people in the world.
- He co-founded Banco Garantia, GP Investments, Ambev, and 3G Capital.
- His investments include Burger King, Kraft Heinz, and Restaurant Brands International.
- He has won the Brazilian national tennis championship five times.
- Lemann is involved in various philanthropic endeavors, including scholarship programs for Brazilian students.
Early Life
Jorge Paulo Lemann was born on August 26, 1939, in Rio de Janeiro, Brazil. His mother, Anna, was Brazilian of Swiss descent, and his father, Paul, was a Swiss immigrant who founded the dairy manufacturer Leco. Lemann attended the American School of Rio de Janeiro and showed a talent for tennis at a young age.
When he was 14 years old, Lemann’s father tragically passed away in a bus accident. Despite this loss, Lemann continued to pursue tennis and went on to win the Brazilian national tennis championship five times. He also represented Brazil in the Davis Cup twice. Lemann’s passion for tennis would later translate into his business philosophy, emphasizing discipline, hard work, and a competitive spirit.
For his higher education, Lemann enrolled at Harvard University, where he obtained his bachelor’s degree in economics in 1960. He later admitted that he did not particularly enjoy his time at Harvard due to the cold climate in Boston compared to his native Brazil. A few years after graduating, Lemann even participated in Wimbledon as a tennis player.
Career
Lemann’s career began as a trainee at Credit Suisse in Geneva, Switzerland from 1961 to 1962. He then became involved in a lending company called Invesco but experienced a setback when the company went bankrupt in 1966.
In 1971, Lemann co-founded his first major success, Banco Garantia, together with Carlos Alberto Sicupira and Marcel Herrmann Telles. Despite facing a market crash shortly after its founding, Banco Garantia grew to become one of the most prestigious investment banks in Brazil, often described as the Brazilian version of Goldman Sachs. The bank was eventually sold to Credit Suisse First Boston in 1998.
Following Banco Garantia, Lemann co-founded the private equity firm GP Investments in 1993. The firm focuses on investments in Latin America and has raised over $5 billion from investors worldwide. GP Investments has invested in more than 50 companies across different industries.
In 2004, Lemann co-founded 3G Capital, a global investment firm that originated from his Brazilian investment office. 3G Capital has made several notable acquisitions, including Burger King in 2010, Heinz in 2013, and Kraft Foods in 2015. Together with Warren Buffett, 3G Capital merged Kraft with Heinz, creating a food conglomerate. The firm also formed Restaurant Brands International, which encompasses Burger King, Tim Hortons, Popeyes Louisiana Kitchen, and Firehouse Subs.
In addition to his business ventures, Lemann serves as a director of Endeavor’s Brazilian office, a non-profit organization supporting entrepreneurs in emerging markets. He is also a board member of the Brazilian retail chain Lojas Americanas and the chairman of the Latin American Advisory Committee of the New York Stock Exchange. Lemann founded Fundação Estudar, a scholarship program benefiting Brazilian students.
Personal Life
Lemann married his first wife, Maria Quental, in 1966, and they had three children together before divorcing in 1986. In 1999, Lemann’s children were targeted by a group of gunmen, leading him to relocate to Switzerland for their safety. In 2005, he married Susanna Mally, and they have three children.
Lemann maintains residences in São Paulo, Brazil, Rapperswil-Jona, Switzerland, and St. Louis. Despite his immense success, he prefers to maintain a low profile and rarely gives interviews or appears in public.
Net Worth Over Time
Jorge Paulo Lemann’s net worth has seen a steady increase over the years. He first rose to prominence during the 1970s as a co-founder of Banco Garantia. Since then, Lemann’s various business ventures, including GP Investments and 3G Capital, have contributed to his significant wealth.
Components of Net Worth
Lemann’s net worth primarily consists of his stakes in various companies and investments. Some of his notable holdings include stakes in Burger King, Kraft Heinz, and Restaurant Brands International. His interests in private equity firm GP Investments and the brewing company Ambev also contribute to his overall net worth.