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Belmiro AzevedoFounder of Sonae GSPS
Date of Birth: 17.02.1938
Country:  Portugal |
Content:
- Belmiro de Azevedo: A Portuguese Business Titan
- Establishment of Sonae GSPS
- Expansion and Dominance
- Diversification and Investments
- Wealth and Recognition
- Family Involvement
Belmiro de Azevedo: A Portuguese Business Titan
Early Life and EducationBelmiro de Azevedo was born on February 17, 1938, in Maia, Portugal, to a modest family. His father was a tailor, while Belmiro worked as a carpenter. Despite his humble beginnings, he pursued higher education at the University of Porto. He also completed a distance learning course from Harvard University.
Establishment of Sonae GSPS
In 1959, Azevedo founded Sonae GSPS, initially a manufacturer of decorative laminate. For many years, the company struggled to make a substantial impact in the wood products market. However, a period of rapid growth began in the early 1980s, coinciding with Portugal's entry into the European Union.
Expansion and Dominance
In 1985, Sonae GSPS listed a portion of its shares on the Lisbon Stock Exchange. This marked the beginning of the company's expansion, which included acquisitions of supermarket chains, development of shopping malls, and construction of commercial and storage facilities. In 1991, the first regional shopping center in Portugal was opened by Sonae GSPS. Six years later, the company established the largest shopping center on the Iberian Peninsula.
Diversification and Investments
In addition to its core retail operations, Azevedo invested heavily in information technology and telecommunications. He expanded into tourism and media, creating a diverse portfolio of businesses under the Sonae GSPS umbrella.
Wealth and Recognition
Today, Belmiro de Azevedo's net worth is estimated at $2 billion, making him one of the wealthiest individuals in Portugal. He is ranked 605th among global billionaires by Forbes magazine.
Family Involvement
Belmiro de Azevedo married Margarida Teixeira, with whom he had three children: Pablo, Nano, and Cláudia. The entire family is involved in the management of Sonae GSPS. Cláudia is a senior executive, while Nano holds a high-ranking position within the company. Azevedo announced his plans to eventually pass the presidency of Sonae GSPS to his son, Pablo.
