What is Miguel Krigsner's Net Worth?
Miguel Krigsner is a Brazilian businessman who has a net worth of $2.9 billion. A newcomer to billionaires circle, Miguel Krigsner made his wealth in the cosmetics industry. Born to immigrant Jewish family in Bolivia, he was raised in Brazil where he got a pharmacy degree and opened his first pharmacy store at age 27. It was in 1977 that he set up O Boticario (Grupo Boticario), the second-largest cosmetics company in Brazil. He served as CEO from the company's foundation to 2008 when he became chairman of the board.
Today, he holds 80% of the company, while his brother-in-law, Artur Grynbaum, owns the remaining 20%. Furthermore, Artur was the one to succeed Miguel as CEO, being in the company since 1986. As a great environmentalist, Miguel Krigsner founded Fundacao Boticario de Protecao a Natureza, one of the top environmental foundations in the country. It receives 1% of Grupo Boticario's gross annual income to invest in both social and environmental-related causes.
