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Grizzly Bulls’ Billionaires Index

⬅ # 466 Karen Pritzker|# 468 Teddy Sagi ➡

# 467 Luis Carlos Sarmiento 

$6.54B

Real Time Net Worth
as of 6/28/2024
$30.5M (0.47%)

# 467 Luis Carlos Sarmiento 

$6.54B

Real Time Net Worth
as of 6/28/2024
$30.5M (0.47%)
OccupationChair, Grupo Aval
Source of WealthBanking
Age91
ResidenceBogota, Colombia
Marital StatusMarried
Children5
EducationBS, National University of Colombia
Age-Adjusted Net Worth$802.69M
Luis Carlos Sarmiento
Luis Carlos Sarmiento
Colombia
Net worth: $6.54B

Self-Made Score 

Wealth History

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Biography

Overview

Luis Carlos Sarmiento Angulo was born on January 27, 1933, in Colombia.
He graduated with a degree in engineering and briefly worked at a construction company before founding his own firm after receiving a 10,000 pesos payout.
Sarmiento acquired Colombia's largest newspaper, El Tiempo, in 2012 for an estimated $250 million.
His construction firm completed the Grand Hyatt in Bogota, which opened its doors in August 2018.

Career

In the 1950s, Sarmiento started his career in construction, focusing on residential and commercial developments.
He transitioned into banking and financial services through an acquisitions campaign, eventually becoming Colombia's top banking mogul by 2000.
Founder and Chairman of Grupo Aval, Sarmiento formed it as a holding company to consolidate his banking, telecommunications, and real estate interests.
He's recognized for his conservative management style, which helped Grupo Aval survive Colombia's worst recession.
Sarmiento's net worth significantly increased from 2005 to 2006, partly due to Colombia's booming stock market.
He groomed his son, Luis Carlos Jr., to eventually take over Grupo Aval.

Philanthropy

Luis Carlos Sarmiento Angulo announced a COP 80 billion donation to purchase groceries for 400,000 families in need, along with 300,000 Covid-19 diagnostic tests and medical equipment like ventilators.
His philanthropic efforts demonstrate a commitment to supporting underprivileged communities, especially during crises.

Grupo Aval Operations

Grupo Aval, controlled by Sarmiento, is engaged in banking, telecommunications, and real estate across Colombia and Central America.
Its holdings include major banks like Banco de Bogotá, Banco de Occidente, Banco Popular, and Banco AV Villas.
Grupo Aval also owns Corficolombiana and BAC Credomatic, operating in several Central American countries and the US.
The group has pension fund management companies like Porvenir in Colombia and BAC San José Pensiones in Costa Rica.
It employs approximately 100 staff members dedicated to analyzing and implementing efficient financial practices.

Grupo Aval History

Originally named Administraciones Bancarias S.A., Grupo Aval changed its name to Sociedad A.B. S.A. in 1997 and then to Grupo Aval Acciones y Valores S.A. in 1998.
In 1999, Grupo Aval made its initial public offering on the Colombian stock exchange.
Plans to list Grupo Aval on the New York Stock Exchange in 2000 were postponed due to unfavorable market conditions.
The group acquired BAC|Credomatic Network from GE Consumer Finance for $1.9 billion in 2010.
In 2012, Grupo Aval made a debut global offering of $600 million with advisory assistance from Davis Polk & Wardwell.

How long would it take you to become as rich as Luis Carlos Sarmiento?

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 Luis Carlos Sarmiento's net worth of $6.54B.

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.

Enter data in all but one field below, then calculate the missing value

Luis Carlos Sarmiento 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 Luis Carlos Sarmiento, Banking is the primary source. 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