Belmiro de Azevedo
Encyclopedia
Belmiro Mendes de Azevedo (born 17 February 1938 in Tuias, Marco de Canaveses) is a Portuguese
entrepreneur
, ranked by Forbes
as the 605th richest person in the world (2008), as well as the 2nd richest in Portugal
, with an estimated wealth of US$
2 billion. He owns a controlling stake in Sonae SGPS
, one of the largest business groups in Portugal, which also operates in Spain
, Greece
, Germany
, Italy
, Turkey
and Brazil
.
Sonae is a Portuguese leader in real estate
and retail
ing and also has investments in telecommunications, tourism
, venture capital
, and the media
. In 2006, Sonae launched an unsuccessful hostile bid to control Portugal Telecom
(PT), the number one Portuguese telecommunications operator.
Azevedo, a carpenter
and a tailor
's son, has a degree in chemical engineering
from the University of Porto
and an MBA
from Harvard University
.
Azevedo's shares were acquired to the estate of late banker Afonso Pinto de Magalhães who, through his bank Banco Pinto de Magalhães, fully owned Sonae. Magalhães put Azevedo in charge of Sonae during the turbulent years following the 1974 Carnation Revolution
that culminated in the seizure of the company by the Government. It was the success in keeping the company running during these years, plus the also successful reclaiming of the company ownership, that led the deceased banker's family to cede the control of Sonae to Azevedo, but not before a protracted legal battle between him and the banker's sons, whom Azevedo accused of incompetence and cockiness.
He is married to Maria Margarida Carvalhais Teixeira and has three children: Duarte Paulo Teixeira de Azevedo, born 31 December 1965 and married to Nicole, his father's successor in the company business, Maria Cláudia Teixeira de Azevedo and Nuno Miguel Teixeira de Azevedo, who also followed his father's footsteps in the family business.
Portuguese people
The Portuguese are a nation and ethnic group native to the country of Portugal, in the west of the Iberian peninsula of south-west Europe. Their language is Portuguese, and Roman Catholicism is the predominant religion....
entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
, ranked by Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
as the 605th richest person in the world (2008), as well as the 2nd richest in Portugal
Portugal
Portugal , officially the Portuguese Republic is a country situated in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the...
, with an estimated wealth of US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
2 billion. He owns a controlling stake in Sonae SGPS
Sonae
Sonae is a conglomerate, and is the largest private employer in Portugal. The company is primarily engaged in the operation of retail stores through its subsidiary Modelo Continente....
, one of the largest business groups in Portugal, which also operates in Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
, Greece
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
and Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
.
Sonae is a Portuguese leader in real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
and retail
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
ing and also has investments in telecommunications, tourism
Tourism
Tourism is travel for recreational, leisure or business purposes. The World Tourism Organization defines tourists as people "traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes".Tourism has become a...
, venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
, and the media
Mass media
Mass media refers collectively to all media technologies which are intended to reach a large audience via mass communication. Broadcast media transmit their information electronically and comprise of television, film and radio, movies, CDs, DVDs and some other gadgets like cameras or video consoles...
. In 2006, Sonae launched an unsuccessful hostile bid to control Portugal Telecom
Portugal Telecom
Portugal Telecom is the largest telecommunications service provider in Portugal. Although it operates mainly in Portugal and Brazil, it has also a significant presence in Guinea-Bissau, Cape Verde, Mozambique, Timor-Leste, Angola, Kenya, the People's Republic of China, and São Tomé and...
(PT), the number one Portuguese telecommunications operator.
Azevedo, a carpenter
Carpenter
A carpenter is a skilled craftsperson who works with timber to construct, install and maintain buildings, furniture, and other objects. The work, known as carpentry, may involve manual labor and work outdoors....
and a tailor
Tailor
A tailor is a person who makes, repairs, or alters clothing professionally, especially suits and men's clothing.Although the term dates to the thirteenth century, tailor took on its modern sense in the late eighteenth century, and now refers to makers of men's and women's suits, coats, trousers,...
's son, has a degree in chemical engineering
Chemical engineering
Chemical engineering is the branch of engineering that deals with physical science , and life sciences with mathematics and economics, to the process of converting raw materials or chemicals into more useful or valuable forms...
from the University of Porto
University of Porto
The University of Porto is a Portuguese public university located in Porto, and founded 22 March 1911. It is the largest Portuguese university by number of enrolled students and has one of the most noted research outputs in Portugal...
and an MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
.
Azevedo's shares were acquired to the estate of late banker Afonso Pinto de Magalhães who, through his bank Banco Pinto de Magalhães, fully owned Sonae. Magalhães put Azevedo in charge of Sonae during the turbulent years following the 1974 Carnation Revolution
Carnation Revolution
The Carnation Revolution , also referred to as the 25 de Abril , was a military coup started on 25 April 1974, in Lisbon, Portugal, coupled with an unanticipated and extensive campaign of civil resistance...
that culminated in the seizure of the company by the Government. It was the success in keeping the company running during these years, plus the also successful reclaiming of the company ownership, that led the deceased banker's family to cede the control of Sonae to Azevedo, but not before a protracted legal battle between him and the banker's sons, whom Azevedo accused of incompetence and cockiness.
He is married to Maria Margarida Carvalhais Teixeira and has three children: Duarte Paulo Teixeira de Azevedo, born 31 December 1965 and married to Nicole, his father's successor in the company business, Maria Cláudia Teixeira de Azevedo and Nuno Miguel Teixeira de Azevedo, who also followed his father's footsteps in the family business.