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Grizzly Bulls’ Billionaires Index

⬅ # 475 John A. Sobrato|# 477 Joe Liemandt ➡

# 476 Pedro Moreira Salles 

$6.25B

Real Time Net Worth
as of 7/25/2024
$20.3M (0.32%)

# 476 Pedro Moreira Salles 

$6.25B

Real Time Net Worth
as of 7/25/2024
$20.3M (0.32%)
OccupationChair, Itaú Unibanco
Source of WealthBanking, Minerals
Age64
ResidenceSao Paulo, Brazil
Marital StatusMarried
Children2
EducationBS, University of California, Los Angeles
Age-Adjusted Net Worth$4.77B
Pedro Moreira Salles
Pedro Moreira Salles
Brazil
Net worth: $6.25B

Self-Made Score 

Wealth History

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Biography

Overview

Pedro Moreira Salles is a scion of one of Brazil's oldest banking families, with substantial wealth derived from his family's banking and investment ventures.
He inherited his fortune from his late father, Walther Moreira Salles, who founded Unibanco and served as a former ambassador to the United States.
The merger of Unibanco with Itau in 2008 created Itau-Unibanco, Latin America's largest private sector bank, solidifying the family's financial influence.
Beyond banking, Salles and his billionaire brothers hold stakes in CBMM, the world's primary niobium supplier, contributing to their diversified investment portfolio.
Salles is actively involved in Cambuhy, a private equity firm he co-founded in 2011, further expanding his family's reach in the finance and investment sectors.

Itaú Unibanco

Overview
Banco Itaú Unibanco S.A. is a prominent Brazilian financial services conglomerate headquartered in São Paulo, Brazil, with significant global operations.
It was formed in 2008 as a result of the merger between Banco Itaú and Unibanco, solidifying its position as the largest banking institution in Brazil and Latin America.
Listed on the B3 in São Paulo and NYSE in New York, Itaú Unibanco ranks as the seventy-third largest bank globally, with a vast network spanning multiple continents.
The bank boasts over 33,000 service points worldwide, including 4,335 branches in Brazil, catering to a customer base of 55 million individuals globally.
As part of the Itaúsa conglomerate, Itaú Unibanco has a diversified presence across the Americas, Europe, and Asia, with offices in key financial centers like London, New York, and Shanghai.
In 2022, Itaú was recognized as the most valuable brand in Brazil, a testament to its enduring market dominance and brand recognition.

History
In 2006, Banco Itaú acquired BankBoston's assets in Brazil, Chile, and Uruguay, expanding its footprint in South America.
The pivotal merger between Banco Itaú and Unibanco in 2008 created Banco Itaú Unibanco, with combined assets totaling R$575 billion and a substantial market share.
Following the merger, the new entity boasted a vast network of 4,800 branches and service points, capturing a significant portion of Brazil's banking market.
In subsequent years, Itaú Unibanco pursued strategic alliances and acquisitions, such as the partnership with insurance company Porto Seguro in 2009, strengthening its insurance offerings.
The acquisition of Citibank Uruguay's retail banking operations in 2013 and the merger with Chilean bank Corpbanca in 2014 further expanded Itaú Unibanco's presence in South America, consolidating its position as a regional financial powerhouse.

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

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Pedro Moreira Salles's net worth of $6.25B.

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 52.22% compared to 16.62% for the S&P 500 benchmark.

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Pedro 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 Pedro 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