World Top Billionaires

#603 Aloysio de Andrade Faria

$3 Billion

Gender
:

Male

Age
:

94

Source
:

banking

Residence
:

Sao Paulo, Brazil

Marital Status
:

Married

Children
:

5

Citizenship
:

Brazil

Education
:

Bachelor of Arts / Science, University of Minas Gerais; Master of Science, Northwestern University

Description :

An extremely private nonagenarian, Aloysio de Andrade Faria still oversees the strategic direction of his conglomerate Banco Alfa, which spans finance, palm oil production, hotels and resorts. Trained as a doctor, Faria only practiced medicine for two years before his father died and he took the helm of the family's Banco Real, transforming it into one of the largest banks in Brazil. In 1998 he sold the institution to Dutch bank ABN Amro for $2.1 billion. He's since used some of the proceeds to expand into 15 other holdings, including Agropalma, Latin America's largest palm oil producer and hotel chain Transamerica, which operates one of Brazil's most exclusive resorts at Comandatuba Island. Faria has reportedly been focusing on succession planning over the last few years; none of his five daughters are involved in the family business. Faria reportedly owns several farms and 150 pure-bred horses.