Who are Lemann, Telles and Sicupira, the ‘owners’ of Americanas, and where their fortunes come from

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The three businessmen from Rio de Janeiro started a partnership in the 1970s at the defunct Banco Garantia, which served as the basis for creating a true capitalist empire. Carlos Alberto Sicupira, Jorge Paulo Lemann and Marcel Herrmann Telles are the largest shareholders of the 3G Capital business. Pivot to one of the biggest financial scandals in Brazil in recent years, Americanas has behind it the three richest men in the country: Jorge Paulo Lemann, Marcel Herrmann Telles and Carlos Alberto Sicupira, whose fortunes total more than R$185 billion. Partners since the 1970s, the trio of Brazilian billionaires built a veritable empire. The three are from Rio de Janeiro, have underwater fishing as one of their hobbies in common and are philanthropists when it comes to education. The successful partnership began with the creation of the defunct Banco Garantia, which became a legend in the business world and allowed the three entrepreneurs to continue creating giants in the global market – 3G Capital and AB Imbev. Lemann, Telles and Sicupira speak for the 1st time after the Americanas breach: ‘We never knew’ Among the pillars of the long-standing partnership between Lemann, Telles and Sicupira is the clear definition of the role of each one at the head of the business – one does not interfere in the work from the other. Find out who each of the three Brazilian billionaires are and learn about the origin of the fortune of the trio currently facing, in the face of the judicial recovery of Americanas – the 4th largest in the history of Brazil – the biggest crisis in almost six decades of society. Who is Jorge Paulo Lemann Businessman Jorge Paulo Lemann currently holds the title of richest man in Brazil. With an estimated net worth of more than US$ 16 billion, he appears at the top of the latest edition of the list of Brazilian billionaires, prepared by Forbes Brasil magazine. Businessman Jorge Paulo Lemann, in a photo taken in November 2013 Felipe Rau/Estadão Content/Archive Born in Rio de Janeiro on August 26, 1939, Lemann has dual nationality – he is the son of Swiss parents who immigrated to Brazil in the early 20th century . He is the oldest among the trio of businessmen and is considered the mentor of the two partners. In the first years on Brazilian soil, Lemann’s father worked at a shoe manufacturer before returning to dairy production, a business that the family maintained in Switzerland – he founded Lemann & Company in Resende, in the south of Rio de Janeiro – or, simply, Leco, dairy manufacturer. Having lost his father at the age of 14, Lemann was a dedicated student and, following in the footsteps of a cousin, graduated in economics at Harvard, in the United States. He began his career working in banks and finance companies until he started working in the capital market, which led him to become, in the mid-1960s, a partner at the financial institution Invesco, which went bankrupt in 1966. Lemann then became a partner at Libra brokerage, which he tried to buy control of. In early 1970, the businessman sold his stake in the Libra brokerage for US$ 200,000. The following year, he bought a title at Corretora Garantia, where he would meet Telles and Sucupira and start the partnership. Who is Marcel Herrmann Telles Second in the Forbes Brazil ranking, with an estimated net worth of US$ 10.8 billion, Marcel Herrmann Telles is the youngest of the trio of billionaires. The son of an airline pilot and a former US embassy secretary who became a housewife, he was born in Rio de Janeiro on February 23, 1950. Marcel Herrmann Telles in a photo that illustrates the book ‘Sonho Grande’ 3G Capital Telles studied at Colégio Santo Inácio, one of the most traditional in Rio, and enjoyed visual arts and poetry, unlike the two future partners who were more fond of sports than the arts. Despite his artistic taste, Telles decided to study economics at UFRJ. In the last periods of the course, he began to direct his professional training towards the financial market when he noticed the economic rise of his college colleagues who were already working in the area. He began his career working late at night for broker Marcelo Leite Barbosa, one of the largest in the country at the time, checking stock exchange slips between midnight and 6 am. A short time later, he asked for a transfer to the open market area of ​​the brokerage house, but he was offered a position in the commercial area. He then decided to look for another job, which led him to Banco Garantia, where he met the two entrepreneurs with whom he would form, years later, one of the largest business empires in Brazil. Who is Carlos Alberto Sicupira With an estimated fortune of US$ 8.8 billion, Carlos Alberto Sicupira is ranked third in the ranking of billionaires by Forbes Brazil. The son of a housewife and a civil servant who made a career at Banco do Brasil, he was born in Rio de Janeiro on May 1, 1948. Brazil, São Paulo, SP, 11/11/2010. Businessman Beto Sicupira during the book signing by journalist Patrícia Broggi, from the book “Speaking of money ” a guide for parents”, at the Livraria da Vila do Itaim, south zone of São Paulo. Janete Longo/Estadão Content/Archive Apaixonado pelo mar , as a child, Sicupira dreamed of joining the Navy. As a teenager, he started his own business selling used cars. Sicupira studied business administration at the Federal University of Rio de Janeiro (UFRJ) and also took a specialization course at the University of Harward. Sicupira is involved in philanthropic actions as well. In 2000, he created the Brava Foundation, which invests in projects to improve public management and non-profit organizations. He is also one of the investors in Fundação Estudar, an entity that offers scholarships to talented students in the best universities in the world Banco Garantia: the origin of the empire (and fortunes) Banco de Investimento Garantia was created in Rio de Janeiro at the beginning of the 1990s. 1970. Jorge Paulo Lemann was the pioneer. Telles was hired in 1972 to work as a liquidator. A year later, Sicupira, who had known Lemann years before while practicing underwater fishing, was invited to join the bank, already as a partner. A decade later, in the early 1980s, Garantia had 17 partners, but six were the main ones: Lemann, Luiz Cezar Fernandes, Fred Packard, Hercias Lutterbach, Beto Sicupira and Marcel Telles. Sicupira and Telles increased their shareholdings year after year. While Telles was head of the trading desk, Sicupira handled new business. A disagreement with Lemann led Fernandes to leave the business. It was then that the partnership between Lemann, Telles and Sucupira was consolidated. It was shortly before Fernandes left that Banco Garantia made one of its first major acquisitions, buying a controlling stake in the retail chain Lojas Americanas. The three billionaires are today ‘reference shareholders’ of Americanas, with around 30% of the company’s shares. Lemann, Telles and Sucupira commanded Garantia for almost 30 years – at the end of 1998 the bank was sold to Crédit Suisse First Boston (CSFB). Shortly thereafter, in the early 2000s, the trio from Rio founded 3G Capital, an investment fund that bought the giants Burger King, Tim Hortons, Popeyes and Kraft-Heinz. At the same time, he founded and announced the creation of InBev, the world leader in the beer market.

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