Teresa Matilde Solari Falabella & family was born in Chile. Teresa Matilde Solari Falabella joins the Forbes Billionaires list thanks to shares she owns in SACI Falabella, Chile's largest retail company by market capitalization. She owns the stake together with her two children, Juan Carlos Cortes Solari and Maria Francisca Cortes Solari, Falabella started in 1889 when Teresa Matilde's great grandfather opened the first large tailor shop in Chile. In the 193's Alberto Solari, married to a grandchild of the original founder, joined the business, expanded it into women's clothing and housewares, and brought in members of his family to both help it grow and to enjoy the financial rewards. Falabella has become a Latin powerhouse, employing more than 80,000 people in Colombia, Peru, Chile and Argentina. It is mainly controlled by the Solari family but members of the del Rio Goudie family also hold significant stakes.