What is Teresa Matilde Solari Falabella's Net Worth?
Teresa Matilde Solari Falabella is a Chilean heiress who has a net worth of $3.4 billion. Being a member of Solari Falabella family makes Teresa one of the richest people in Chile. Her family owns SACI Falabella, Chile's largest and oldest retail company. In 1889, Teresa's ancestor, Salvatore Falabella, an Italian emigrant, launched the first Falabella tailor shop. The company noticed a huge growth in the 30s under the leadership of Alberto Solari, one of the husbands of Falabella's granddaughters, who managed to expand the store with women's garments and housewares.
Later in 1958, Falabella became a department store, and soon, the company was growing further with opening new stores in different cities and locations. Eventually, Falabella has developed into a Latin powerhouse that has over 80,000 employees across Peru, Columbia, Chile and Argentina. Moreover, the Company has announced that it plans to make a large $3.92 billion-worth investment through the period of 2013 to 2017. Teresa owns shares of Falabella together with her two children, Maria Francisca Cortes Solari and Juan Carlos Cortes Solari.
