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Grizzly Bulls’ Billionaires Index

⬅ # 443 George Soros|# 445 Rafael Del Pino ➡

# 444 Fernando Roberto Moreira Salles 

$6.73B

Real Time Net Worth
as of 6/28/2024
-$105 (-0.00%)

# 444 Fernando Roberto Moreira Salles 

$6.73B

Real Time Net Worth
as of 6/28/2024
-$105 (-0.00%)
OccupationPartial Owner, Itau-Unibanco
Source of WealthBanking, Minerals
Age78
ResidenceSao Paulo, Brazil
Marital StatusMarried
Children2
EducationBS, Fundacao Getulio Vargas
Age-Adjusted Net Worth$1.99B
Fernando Roberto Moreira Salles
Fernando Roberto Moreira Salles
Brazil
Net worth: $6.73B

Self-Made Score 

Wealth History

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Biography

Overview

Fernando Roberto Moreira Salles hails from one of Brazil's oldest banking families.
His wealth stems primarily from the banking industry, particularly through Unibanco, founded by his father.
Following a merger in 2008, Unibanco combined forces with Itau to create Itau-Unibanco, the largest private sector bank in Latin America.
The Salles family, including Fernando and his three brothers, also holds significant stakes in CBMM, a major supplier of niobium worldwide.

Early Life and Family Background

Fernando Roberto Moreira Salles is the son of Walther Moreira Salles, the founder of Unibanco.
His father served as a Brazilian ambassador to the United States and played a prominent role in the country's banking sector.
The Moreira Salles family has a longstanding presence in the banking industry, dating back to the establishment of Casa Bancária Moreira Salles in 1924 by João Moreira Salles.

Unibanco Legacy

Unibanco, initially founded as Casa Bancária Moreira Salles, grew significantly under the leadership of Fernando's father, Walter Moreira Salles.
The bank expanded through regional mergers and acquisitions, eventually becoming the third largest non-government bank in Brazil.
In 1995, Unibanco acquired Banco Nacional, solidifying its position in the Brazilian banking landscape despite the national banking crisis.
Throughout its existence, Unibanco remained a family-controlled entity, with the Moreira Salles family exerting significant influence.
Following Walter Moreira Salles's passing in 2001, his son Pedro Moreira Salles took on leadership roles within the company.

Merger With Itau

In 2008, Unibanco merged with Banco Itaú, one of Brazil's largest commercial banks.
The merger, approved by the Central Bank of Brazil, created Itau-Unibanco, dominating the private sector banking market in Latin America.
The transition saw Unibanco branches rebranded under the Itaú name, solidifying the latter's position as the leading brand in Brazilian private sector banking.
Although the merged entity operates under the Itaú brand, the holding company retains the name Itaú Unibanco Holding S.A.

Stakes in CBMM

Beyond banking, the Moreira Salles family holds significant stakes in Companhia Brasileira de Metalurgia e Mineração (CBMM).
CBMM is the world's leading supplier of niobium, a critical mineral used in various industrial applications.
The ownership of stakes in CBMM diversifies the family's investment portfolio beyond the financial sector.

How long would it take you to become as rich as Fernando Roberto Moreira Salles?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Fernando Roberto Moreira Salles's net worth of $6.73B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.35% compared to 16.28% for the S&P 500 benchmark.

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Fernando Roberto Moreira Salles is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Fernando Roberto Moreira Salles, Banking and Minerals are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey