Pedro Moreira Salles’s profile picture

Pedro Moreira Salles

Pedro Moreira Salles’s profile picture
Net worth 2018: $5.25 Billion
Industry: Diversified
Residence: Sao Paulo, Brazil
Country: Brazil
Children: 2
Education: Bachelor of Arts / Science, University of California, Los Angeles
BIOGRAPHY

Pedro Moreira Salles was born in Sao Paulo, Brazil, Brazil. Pedro Moreira Salles is #391 in List Billionaires People In The World. Pedro Moreira Salles belongs to one of Brazil's oldest banking families. His late father, Walther Moreira Salles, founded Unibanco and was an ambassador to the United States. In 2008 Unibanco merged with Itau, then Brazil's second-largest commercial bank, creating Itau-Unibanco, the largest bank in Latin America today. Pedro is the bank's chairman. The Moreira Salles family owns a controlling stake in the bank. Pedro and his three brothers, all billionaires, also own a majority stake in Cia. Brasileira de Metalurgia & Mineracao (CBMM), the world's leading supplier of niobium. Moreira Salles founded investment firm Cambuhy Investimentos in 2011 with three other financiers. In 2015, Cambuhy acquired a stake in Cia. Hering, the largest retail franchises network in Brazil. Cambuhy also owns a stake in Rio de Janeiro-based Parnaiba Gas Natural (PGN),one of the largest gas producers in Brazil. Moreira Salles holds a bachelor's degree in economics and history from the University of California, Los Angeles, where he graduated with honors.

NET WORTH STATISTIC
2011

$2.6 Billion

2012

$2.7 Billion

2014

$2.9 Billion

2015

$2.1 Billion

2016

$2.8 Billion

2017

$3.2 Billion

2018

$5.25 Billion

TIMELINE
Pedro Moreira Salles (born October 20, 1959) is the current Chairman of Itaú Unibanco, the largest non-government banking institution in Brazil and is listed by Forbes as a billionaire, with a net worth of US$ 2.6 billion.Salles has been unofficially involved with Unibanco since birth, since the bank was headed for several decades by his father, the late Walter Moreira Salles. Pedro joined Unibanco in 1989 and became Chairman of the Board of Directors in 1997, after serving as Vice Chairman for almost six years. In April 2004, Mr. Moreira Salles was elected CEO. As of 2016, he serves as Chairman of the Board at Itaú Unibanco Holding.Mr. Moreira Salles is also a member of the Group of Fifty (G-50) - a non-profit initiative, composed of a Latin American executives and sponsored by the Carnegie Endowment for International Peace and the Inter-American Dialogue, in Washington D.C. Additionally, he is a member of the Advisory Board of IBMEC, and Vice-Chairman of PlaNet Finance Brasil, a microcredit Nongovernmental organization (NGO).He holds a bachelor's degree in economics and history from the University of California, Los Angeles, where he graduated Magna Cum Laude. He subsequently attended the graduate program in International Relations at Yale University and the Owner/President Management Program at Harvard University. Salles is married to Marisa Moreira Salles and has two children. He is a younger brother of film director Walter Salles, of Oscar-nominated Central Station fame.Pedro Moreira Salles suffers from muscular dystrophy and is wheelchair-bound. He says he copes with the disease with "a lot of psychotherapy," yet he lives a busy professional and social life. He and his wife support stem-cell research.
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