Jorge Paulo Lemann
Encyclopedia
Jorge Paulo Lemann is the third wealthiest individual in Brazil
. He is ranked as the 55th richest person in the world by Forbes, with an estimated net worth
of as of September 2011.
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
.
AmBev merged with Interbrew
of Belgium
in August 2004. The stock of the combined firm, InBev
, soared 40 percent during 2005.
A onetime tennis
champion (he played at Wimbledon
), Lemann still actively invests in Brazil with former Banco Garantia partners - and fellow billionaires - Marcel Telles and Carlos Alberto Sicupira.
In addition, Jorge Paulo Lemman is also a board member of Lojas Americanas
S.A., the Gillette Company and Swiss Re
; 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."
He previously served as a member of the board of directors of Brahma
from 1990 to 2001. He is married with five children.
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.
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
. He is ranked as the 55th richest person in the world by Forbes, with an estimated net worth
Net worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...
of as of September 2011.
Biography
Lemann was born to Swiss immigrants. He received his Bachelors degree from Harvard UniversityHarvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
in 1961. From 1961 to 1962 he worked as trainee at Credit Suisse
Credit Suisse
The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...
.
In 1971 he and three partners founded the Brazilian investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
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
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
as "a Brazilian version of Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
."
Later he and his partners bought control of a Brazilian brewery
Brewery
A brewery is a dedicated building for the making of beer, though beer can be made at home, and has been for much of beer's history. A company which makes beer is called either a brewery or a brewing company....
that eventually became AmBev
AmBev
Ambev formally Companhia de Bebidas das Américas is a subsidiary of global brewing company Anheuser-Busch InBev and is the biggest brewery in South America and the fifth in the world...
. In 2003 AmBev had a pretax profit margin
Profit margin
Profit margin, net margin, net profit margin or net profit ratio all refer to a measure of profitability. It is calculated by finding the net profit as a percentage of the revenue.Net profit Margin = x100...
of 35 percent on sales of USD $2.7 billion. It controlled 65 percent of the Brazilian beer
Beer
Beer is the world's most widely consumed andprobably oldest alcoholic beverage; it is the third most popular drink overall, after water and tea. It is produced by the brewing and fermentation of sugars, mainly derived from malted cereal grains, most commonly malted barley and malted wheat...
market and almost 80 percent of Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
's, with monopoly
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
positions in Paraguay
Paraguay
Paraguay , officially the Republic of Paraguay , is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the...
, Uruguay
Uruguay
Uruguay ,officially the Oriental Republic of Uruguay,sometimes the Eastern Republic of Uruguay; ) is a country in the southeastern part of South America. It is home to some 3.5 million people, of whom 1.8 million live in the capital Montevideo and its metropolitan area...
, and Bolivia
Bolivia
Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America...
.
AmBev merged with Interbrew
Interbrew
Interbrew was a large Belgium-based brewing company which owned many internationally known beers, as well as some smaller local beers. In 2004 Interbrew merged with Brazilian brewer AmBev to form InBev, which is the now largest brewer in the world by volume, with a 13% global market share now...
of Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
in August 2004. The stock of the combined firm, InBev
InBev
InBev is a subsidiary of Anheuser-Busch InBev. The company existed independently for several years - since the merger between Interbrew and AmBev and until the acquisition of Anheuser-Busch. InBev has operations in over 30 countries and sales in over 130 countries...
, soared 40 percent during 2005.
A onetime tennis
Tennis
Tennis is a sport usually played between two players or between two teams of two players each . Each player uses a racket that is strung to strike a hollow rubber ball covered with felt over a net into the opponent's court. Tennis is an Olympic sport and is played at all levels of society at all...
champion (he played at Wimbledon
The Championships, Wimbledon
The Championships, Wimbledon, or simply Wimbledon , is the oldest tennis tournament in the world, considered by many to be the most prestigious. It has been held at the All England Club in Wimbledon, London since 1877. It is one of the four Grand Slam tennis tournaments, the other three Majors...
), Lemann still actively invests in Brazil with former Banco Garantia partners - and fellow billionaires - Marcel Telles and Carlos Alberto Sicupira.
In addition, Jorge Paulo Lemman is also a board member of Lojas Americanas
Lojas Americanas
Lojas Americanas is a Brazilian retail chain founded in 1929 in the city of Niterói, Rio de Janeiro, by Austrian Max Landesmann and Americans John Lee, Glen Matson, James Marshall and Batson Borger...
S.A., the Gillette Company and Swiss Re
Swiss Re
Swiss Reinsurance Company Ltd , generally known as Swiss Re, is a Swiss reinsurance company. It is the world’s second-largest reinsurer, after having acquired GE Insurance Solutions. The company has its headquarters in Zurich...
; Chairman of the Latin American Advisory Committee of the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
; 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
Credit Suisse
The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...
Group and DaimlerChrysler
DaimlerChrysler
Daimler AG is a German car corporation. By unit sales, it is the thirteenth-largest car manufacturer and second-largest truck manufacturer in the world. In addition to automobiles, Daimler manufactures buses and provides financial services through its Daimler Financial Services arm...
.
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
Burger King
Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain...
. "3G was advised in the BK offer by Lazard
Lazard
Lazard Ltd is the parent company of Lazard Group LLC, a global, independent investment bank with approximately 2,300 employees in 42 cities across 27 countries throughout Europe, North America, Asia, Australia, Central and South America...
, JPMorgan Chase, Barclays Capital
Barclays Capital
Barclays Capital is a global British investment bank. It is the investment banking division of Barclays plc which has a balance sheet of over £1.2 trillion . Barclays Capital provides financing and risk management services to large companies, institutions and government clients. It is a primary...
and the law firm Kirkland & Ellis
Kirkland & Ellis
Kirkland & Ellis LLP is an international law firm with headquarters in Chicago, known for its profitability and its litigation, bankruptcy, intellectual property and private equity departments. Kirkland & Ellis is currently ranked as the ninth most prestigious law firm in the United States by...
.... [The firm] already has some experience in burgers and fries, having previously invested in Wendy’s."
He previously served as a member of the board of directors of Brahma
Brahma (beer)
Brahma is a Brazilian beer, originally made by the Companhia Cervejaria Brahma which was founded in 1888. The brands are now owned by Anheuser–Busch InBev, formed by a merger between Anheuser–Busch and InBev...
from 1990 to 2001. He is married with five children.
Lemann currently serves on the Board of Directors of Endeavor
Endeavor (non-profit)
Endeavor is a non-profit organization that pioneered the concept of High-Impact Entrepreneurship in emerging markets. Its mission is to “lead the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best High-Impact Entrepreneurs around the...
Brazil office. Endeavor is an international non-profit development organization that finds and supports high-impact entrepreneurs in emerging markets.
External links
- Latin America's most important businessmen. Latin Business Chronicle.