Jorge Paulo Lemann

Jorge Paulo Lemann

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Jorge Paulo Lemann

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Jorge Paulo Lemann (born August 26, 1939, in Rio de Janeiro) is the third wealthiest individual in Brazil. He was ranked as the 48th richest person in the world by Forbes, with an estimated net worth of in 2010.

Biography

Lemann was born 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.Richard Tomlison, The New King of Beer, Fortune Magazine, October 18, 2004

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...
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