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Family wealth Moreira Salles, Richest in Brazil According to Forbes, in 2023, its assets increased to 54 billion Brazilian reals. The financial life of the group is managed by the company BW Investment Management (BWGI)is run by Joao Moreira Salles himself, 42, a former executive at JP Morgan's investment bank.
In addition to increasing its amount, BWGI also Her team of collaborators increased“To face the new markets in which it has begun operating,” according to the company. “It is worth highlighting the growth of the technology team to join and support the growth and new technology resources,” he stated in the report.
Understand the Moreira Salles family fortune
The Moreira Salles family fortune began in mid-1924, when… Patriarch João Moreira Saleswho owned a household utensils, food and beverage store Moreira Salles Banking House. The bank was responsible for financing coffee expansions in the 1930s and 1940s.
Later his son Walther Moreira Sales Make the enterprise develop further and become Unibanco, one of the largest financial institutions in Brazil at that time. In 2008, the bank was bought by Itau, in which the family holds a 9% stake. During this period, BWGI was established to manage the group's wealth.
In the twentieth century, the family began to control 70% of the family Cbma company World leader in niobium explorationA rare earth metal used in steel products. The company is headquartered in Minas Gerais, but also has offices in the US, Europe and Singapore, in addition to selling the metal to around 40 countries.
The company stated that in 2022 Profits of 4.5 billion Brazilian reals and R$11 billion in revenue.
BWGI has revenues 75% of its original investments are abroad. One of its largest deals last year was the purchase of a 6.2% stake in the French cleaning and services company Ellis. The stake is currently valued at 288 million euros ($313 million).
Another family fund is Mantiqueira, 2.2 billion US dollars. The fund has doubled in size in three years and has returned 143% over the past five years, according to Bloomberg.
BWGI remains the largest shareholder in French glass packaging maker Verallia, with a 28% stake since 2021. The investment is worth approx. 1.2 billion euros.
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.