Brazil's richest person helps control Anheuser-Busch InBev, the world's largest beer manufacturer, with two partners, Marcel Herrmann Telles and Carlos Alberto Sicupira. Through their buyout firm 3G Capital, the trio owns Burger King, the fast-food chain they acquired in 2010. They also own retailer Lojas Americanas and real estate developer Sao Carlos.
The costs that conglomerates face to manage their various businesses as holding companies continue to make them attractive targets for activist investors, said Edward Garden, founding partner at Trian Fund Management LP.
Eike Batista dropped from the ranks of the world’s 200 richest people after he sold shares in his flagship oil producer for the first time, dragging shares of OGX Petroleo & Gas Participacoes SA to a record low.
U.S. stocks and Treasuries retreated as economists said the Federal Reserve may scale back its stimulus efforts as early as September amid an improving economy. The yen fell against most of its counterparts and Turkish shares rebounded from the worst drop in a decade.
General Motors Co., four years after being kicked out of the Standard & Poor’s 500 Index, will heal another wound of the financial crisis when it rejoins the benchmark gauge for American equities this week.
Jorge Paulo Lemann, the banker who now claims the title of Brazil’s richest man, built his fortune by overseeing takeovers of two icons of U.S. consumer culture: Budweiser beer and the Burger King fast-food chain.