Jose Ermirio de Moraes Neto was born in Brazil. Jose Ermirio de Moraes Neto joins the Forbes Billionaires list for the first time this year. He is a grandson of Jose Ermirio de Moraes, who founded family-owned Grupo Votorantim, Latin America's fifth-largest diversified industrial conglomerate. The group does business in more than 20 countries in the aluminum, pulp and paper, energy, and cement industries. It had sales of $10.5 billion in 2012. Almost half of that comes from the cement business, which is taking off as Brazil gets ready for the 2014 FIFA World Cup and the 2016 Summer Olympics. The group dates back to 1918, when Jose Ermirio de Moraes bought a textile factory in Sao Paulo. Today the family still controls 100% of the business. Jose Ermirio de Moraes Neto serves as President of Votorantim Participacoes S.A., the group's investment vehicle. He inherited an 8% stake in Votorantim after the death of his father, Jose Ermirio de Moraes Filho. His two siblings, Jose Roberto Ermirio de Moraes and Neida Helena de Moraes, inherited the same size stakes and both appear on the Forbes Billionaires list this year. He lost his son last year in a plane crash near Sao Paulo that killed five people.