What is Elisio Alexandre Soares dos Santos' Net Worth?
Elisio Alexandre Soares dos Santos is a Portuguese entrepreneur and philanthropist who has a net worth of $3 billion. He is the Chairman of food retailer Jeronimo Martins, which is the largest food distribution group in Portugal and Poland with more than 2,500 stores and 2011 revenue of $13 billion. Together with his family, Soares dos Santos owns around 22% of the listed retailer. Just a small rise of the share price in 2012 lifted his net worth by $300 million.
Even though there is economic stagnation in Portugal, Jeronimo Martins is constantly growing thanks to its Polish stores, which contribute some 60% of the revenue. The firm that started with a tiny store opened in Lisbon in 1792, now operates the Pingo Doce and Recheiro chains in Portugal and the Biedronka chain in Poland. It also has plans to expand to Colombia, where it aims to initially open as many as 40 stores by the end of 2013. Married with seven children, two of Soares dos Santos' sons are involved in the company's operations, his son Pedro serving as the CEO of Jeronimo Martins and Jose, as a board member.
