Jorge Paulo Lemann | |
|---|---|
 | |
| Born | August 26, 1939 Rio de Janeiro, Brazil |
| Citizenship | Brazilian Swiss [1] |
| Education | Harvard University (BA) |
| Occupations |
|
| Known for | Ambev and 3G Capital |
| Spouses | Maria Quental (m. 1966;div. 1986)Susanna Mally (m. 2005) |
| Children | 5 [2] |
| Website | fundacaolemann |
Jorge Paulo Lemann (born August 26, 1939) [3] is a Brazilian billionaire investment banker and businessman with dual Brazilian and Swiss citizenship. [4]
In 1939, Lemann was born in Rio de Janeiro to Paul Lemann, [1] a Swiss immigrant who founded the dairy manufacturer Leco, and Anna Yvette Truebner, a Brazilian of Swiss origin. [5] [6] [7] Lemann attended the American School of Rio de Janeiro. [8]
His father died in a bus accident in 1953, when Lemann was 14. [9]
In 1960, he received a bachelor's degree in economics from Harvard University. According to Lemann's own admission, he did not enjoy his time at Harvard, stating that "My first year at Harvard was horrible. I was only 17 and I missed the beach and the sun a lot. Boston was too cold for me. It was my first time in the USA and I was not used to study or to write; we have to write a lot in Harvard. My grades were the worst possible." [10] [11] After setting off fireworks on the last day of his freshman year, he was reprimanded and considered dropping out, but ultimately decided to stay on. [10] [12]
Lemann always wanted to become an inventor. As a kid he admired Thomas Edison. He built different machines but they usually did not work out. Lemann was also an avid tennis amateur. He won the Brazilian national tennis championship five times. [8] [13] He participated in the Davis Cup twice, once as part of the Swiss Davis Cup team and once on behalf of the Brazilian team, [1] [14] and also played at Wimbledon in 1962. [15]
From 1961 to 1962, he worked as a trainee at Credit Suisse in Geneva. [1] In 1966, the first company in which Lemann had equity interest, a lending company called Invesco, went bankrupt. Lemann had a 2% equity stake. [9] In 1971, Lemann, Carlos Alberto Sicupira and Marcel Herrmann Telles founded the Brazilian investment banking firm Banco Garantia. Undaunted by a 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." [16] [17] Lemann and his partners now help to control AB Inbev as members of its board of directors.[ citation needed ]
In 1994, he suffered a heart attack at age 54. [18] Following the Asian financial crisis, Banco Garantia was sold to Credit Suisse First Boston in July 1998 for $675m. [19] [13] [16]
From 1990 to 2001, he served as a member of the board of directors of Companhia Cervejaria Brahma. [20] Lemann is a director of Endeavor's Brazil office. Endeavor is an international non-profit development organization that finds and supports high-impact entrepreneurs in emerging markets. Later he and his partners, who founded private equity company GP Investimentos , [1] 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. By 2004, it controlled 65 percent of the Brazilian beer market and almost 80% of Argentina's, with monopoly positions in Paraguay, Uruguay, and Bolivia. [21]
AmBev merged with Interbrew of Belgium in August 2004. The stock of the combined firm, InBev, rose 40 percent during 2005. 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. [22]
Lemann is a board member of Lojas Americanas S.A. and was a former board member of Gillette (where he first worked with Warren Buffett); 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 board of DaimlerChrysler.[ citation needed ]
Lemann is a co-founder of Brazilian investment firm 3G Capital, which owns brands such as Burger King, Anheuser-Busch and Heinz. [23] 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." [24] 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. [25] The same group announced the merger of Kraft Foods with Heinz in March 2015. [26] He was on the board of Kraft Heinz until 2021, when he announced he was leaving to reduce his travel commitments. [27]
Lemann married twice and has six children, three with his first wife and three with his second wife Susanna. [28] He usually shares his time between São Paulo, Rapperswil-Jona on Lake Zurich, [1] where his family lives, and St. Louis. [29] [30]
In 1999, several gunmen attempted to kidnap his children on their way to school. [12] The incident prompted Lemann to relocate permanently to Switzerland. [12] According to a report, "his children still attended school that day and Lemann was only a little late to the office." [19]
Lemann rarely gives interviews or appears publicly, and is little known in the United States. [31] However, according to Bloomberg, in Brazil, Lemann is considered a "business-class hero", "the wiry, white-haired conglomerateur who’s part Buffett, part Sam Walton, part Roger Federer." [31]
Interbrew is subsidiary of Anheuser-Busch InBev SA/NV is based in Breda, Netherlands. It has one subsidiary, Ambev S.A. of São Paulo, Brazil.
Anheuser-Busch Companies, LLC, is an American brewing company headquartered in St. Louis, Missouri. Since 2008, it has been wholly owned by Anheuser-Busch InBev SA/NV, now the world's largest brewing company, which owns multiple global brands, notably Budweiser, Michelob, Stella Artois, and Beck's.
South African Breweries is a major brewery headquartered in Johannesburg, South Africa and was a wholly owned subsidiary of SABMiller until its interests were sold to Anheuser-Busch InBev on 10 October 2016. South African Breweries is now a direct subsidiary of Anheuser-Busch InBev SA/NV.
SABMiller plc was a South African multinational brewing and beverage company headquartered in Woking, England on the outskirts of London until 10 October 2016 when it was acquired by AB InBev. It was the world's second-largest brewer measured by revenues and was also a major bottler of Coca-Cola. Its brands included Foster's, Miller, and Pilsner Urquell. It operated in 80 countries worldwide and in 2009 sold around 21 billion litres of beverages. Since 10 October 2016, SABMiller is a business division of AB InBev, a Belgian multinational corporation with headquarters in Leuven.
Ambev, formally Companhia de Bebidas das Américas, is a Brazilian brewing company now merged into Anheuser-Busch InBev. Its name translates to "Beverage Company of the Americas", hence the "Ambev" abbreviation. It was created on July 1, 1999, with the merger of two breweries, Brahma and Antarctica. The merger was approved by the board of directors of the Brazilian Administrative Council for Economic Defense (CADE) on March 30, 2000. The organization's headquarters are in São Paulo, Brazil. It is one of the largest companies by market capitalization in Brazil and in the Southern hemisphere.
Castle Brewery is one of the oldest commercial breweries in South Africa. As company-endorsed legend would have it, the company was founded by Charles Glass in Johannesburg in 1894. UCT history professor Anne Kelk Mager has argued that the official SAB story overemphasized the role of Charles and that it was his wife Lisa Glass who was primarily responsible for the creation of Castle. It later merged with other breweries to form South African Breweries, which still later merged with Miller of the United States to form SABMiller.
Zero-based budgeting (ZBB) is a budgeting method that requires all expenses to be justified and approved in each new budget period, typically each year. It was developed by Peter Pyhrr in the 1970s. This budgeting method analyzes an organization's needs and costs by starting from a "zero base" at the beginning of every period. The intended outcome is to access the efficient use of resources by determining if services can be provided at a lower cost. However, the saving comes at the expense of a complete restructuring every budget cycle. Although used at least partially in both government and the private sector, there is some doubt whether ZBB has ever been utilized to its fullest extent in any organization.
SABMiller was one of the top five global brewing companies, and had a range of over 150 beers, including international beers such as Pilsner Urquell, and Miller Genuine Draft, and local ones such as Gambrinus and Castle Milk Stout.
Lojas Americanas is a Brazilian retail chain founded in 1929 in the city of Niterói, Rio de Janeiro, by the Austrian-Brazilian Max Landesmann and Americans John Lee, Glen Matson, James Marshall and Batson Borger. Currently, the company has 1,945 stores in all 26 Brazilian states and in the Federal District. Lojas Americanas is the sixth largest retailer in Brazil.
Carlos Alves de Brito is a Brazilian businessman who was CEO of Anheuser-Busch InBev from 2008 to 2021. Currently he is CEO of Belron.
Anheuser-Busch InBev SA/NV, commonly known as AB InBev, is a Belgian multinational drink and brewing company based in Leuven, Belgium and is the largest brewer in the world. In 2023, the company was ranked 72nd in the Forbes Global 2000. Additionally, AB InBev has a global functional management office in New York City, and regional headquarters in São Paulo, London, St. Louis, Mexico City, Bremen, Johannesburg, and others. It has approximately 630 beer brands in 150 countries.
InBev was a brewing company that resulted from the merger between Belgium-based company Interbrew and Brazilian brewer AmBev which took place in 2004. It existed independently until the acquisition of Anheuser-Busch in 2008, which formed Anheuser-Busch InBev. InBev had operations in over 30 countries and sales in over 130 countries. In 2006, it had a market capitalization of €30.6 billion and net profit of €3.2 billion on sales of €13.3 billion.
Marcel Herrmann Telles is a Brazilian investor and businessman. Telles is a board member of AB InBev.
3G Capital is a global investment firm and private partnership built on an owner-operator approach to investing over a long-term horizon. Founded in 2004, 3G Capital evolved from the Brazilian investment office of Jorge Paulo Lemann, Carlos Alberto Sicupira, and Marcel Herrmann Telles. 3G Capital is led by Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner.
Alan Jon Clark is a South African businessman. On 22 April 2013, he became the chief executive officer (CEO) of SABMiller, a FTSE 100 multinational brewing and beverage company, and the world's second largest brewer.
Carlos Alberto Sicupira is a Brazilian billionaire businessman, a partner in 3G Capital, which owns or has major stakes in Burger King, H.J. Heinz Company, Anheuser-Busch InBev and Lojas Americanas. He lives in Switzerland.
Alex Behring, is a Brazilian billionaire businessman. He is a co-founder and managing partner of 3G Capital, a global investment firm known for its investments in Anheuser-Busch InBev, Restaurant Brands International, Kraft Heinz, and Hunter Douglas. As of March 2024, Forbes estimated his net worth at US$6.2 billion.
Daniel Schwartz is an American businessman, executive, and investor. He is currently the Co-Managing Partner of 3G Capital, a global investment firm and private partnership known for its long-term investments in prominent companies such as Anheuser-Busch InBev, Restaurant Brands International, Kraft Heinz, and Hunter Douglas. Schwartz played a pivotal role in 3G Capital's 2010 acquisition of Burger King, where he served as CFO, COO, CEO, and Co-Chairman of the Board of Directors from 2010 to 2022 and continues to serve on the Board of Directors today. In 2017, Daniel was recognized by Forbes as Top 40 under 40 for his role in turning around Burger King.
Michel Doukeris is a Brazilian businessman who is the CEO of AB InBev, the world's largest beer company.
Fábio Eduardo de Pieri Spina, better known as Fábio Spina. He is legal director of Gerdau, member of the human rights observatory of the national council of justice (CNJ) and chairman of the legal and economic competitiveness commission of the B.O.
| Subsidiaries | |
|---|---|
| Equity investments |
|
| Brands | |
| People | |
| International | |
|---|---|
| National | |
