Gregorio Perez Companc Owner of Petrolera Perez Companc Country: Argentina

1. Biography of Gregorio Perez Companc
2. Expansion and Success
3. Challenging Times and Resilience
4. Sale and Philanthropy

Biography of Gregorio Perez Companc

Gregorio Perez Companc was born in 1935 in Buenos Aires, Argentina, into a family of oil magnates. His father founded the company Petrolera Perez Companc in 1946 and has since expanded and improved the enterprise.

Expansion and Success

From 1990 to 1994, the company expanded its operations in the oil business and diversified into other industrial sectors during the period of privatization after Carlos Menem became the country's president. By 1996, Perez Companc S.A had increased its profits to $1.5 billion. Two years later, the company transformed into the holding company PC Holdings S.A and acquired a significant portion of the shares of the giant food organization, Molinos Rio de la Plata, for $380 million.

Challenging Times and Resilience

In 1999, the main shareholders of Perez Companc S.A exchanged their voting shares for non-voting shares. The family also sold a 19% stake in the financial organization Banco Rio de la Plata. Despite the economic turmoil during this period, the Perez Companc family not only survived but also rapidly increased their income.

Sale and Philanthropy

In October 2002, Gregorio Perez Companc announced the sale of 60% of the family's shares in Petrolera Perez Companc to the Brazilian oil giant, Petroleo Brasileiro S.A. (Petrobras), for $1 billion in cash and bonds.

Currently, Gregorio is actively involved in philanthropy and regularly donates substantial sums to numerous institutions, especially those of the Catholic faith. He has seven children and numerous grandchildren, to whom he reportedly spares no expense, even having a private aquarium for them. Gregorio holds a special affection for his family and recently purchased a Boeing for their needs. He is known as Don Gregorio and is the wealthiest person in Argentina, with a net worth of approximately $2 billion, according to Forbes magazine.