The former CEO of Magazine Luiza, Luiza Trajano, has dropped out of Forbes’ list of billionaire entrepreneurs after the company’s shares plummeted in recent months. However, the fact was not exclusive to Magalu’s chairman of the board, as three other Brazilian businessmen also emerged from the select list: Rubens Menin, general director of MRV; Cándido Koren de Lima Junior and Jorge Koren de Lima, members of the Hapvida board of directors, also lost their positions due to the fall in the assets of their companies.
According to data from Forbes, Rubens Menin reached a fortune of US$3.9 billion in July last year, while the Koren brothers had a financial contribution of more than US$2 billion. At the same time, Luiza Trajano owned more than US$5 billion.
The scenario of declining fortune of Brazilian businessmen is linked to the fall in the shares of their companies. Magazine Luiza accumulated a 67% drop in its assets until last day 17. For its part, Hapvida fell 43% and MRV saw its shares fall 32%.
Who heads the national list of billionaires is Eduardo Luiz Saverin, one of the founders of Facebook, with assets of R$ 97.50 billion. The list also includes names such as Marcel Herrmann Telles and Carlos Alberto da Veiga Sicupira, both partners of the Belgian-Brazilian company Anheuser-Busch Inbev, occupying the top positions.