What is Ermirio Pereira de Moraes' Net Worth?
Ermirio Pereira de Moraes is a Brazilian entrepreneur who has a net worth of $4.1 billion. Having entered the billionaires' ranks this year, he controls the family-owned Grupo Votorantim, the fifth-largest diversified industrial conglomerate in Latin America. He inherited his share in the business from his father Jose Ermirio de Moraes, who set the roots of the company in 1918 in the form of a textile factory in Sao Paulo. Today, the group actively operates in more than 20 countries in a range of several industries, i.e., the aluminum, pulp and paper, energy as well as the cement industry.
According to 2012 reports, Grupo Votorantim reached sales of $10.5 billion that year. Half of those earnings originate from the cement business, which is now setting out as Brazil gets ready for the 2014 FIFA World Cup and the 2016 Summer Olympics. Ermirio Pereira de Moraes and his family control 100% of the business. A graduate of from the University of Tulsa in Oklahoma, de Moraes is also a member of the Advisory Council of AACD, a Brazilian NGO that treats disabled children.
