Abílio dos Santos Diniz Net Worth
Abilio dos Santos Diniz Net Worth: Abilio dos Santos Diniz is a Brazilian retailer with a net worth of $4 billion. Born in São Paulo on December 28, 1936, Abilio dos Santos Diniz rose to prominence as Chairman of Companhia Brasileira de Distribuicao (CBD), Brazil’s leading retail company. Pao de Acucar bakery was founded in 1948 by his father, Portuguese immigrant Valentim.
After graduating from the University of São Paulo in 1959, Ablio helped his father transform the family business into a multi-million dollar retail CBD chain. In December 1989, he was kidnapped by Canadian extremists, marking an event in Ablio’s life, holding him underground for a week until federal police released him. The kidnappings took place on the same day as Brazil’s first democratic presidential election, and many found a connection between the two. After being kidnapped, Ablio returned a single-minded man who successfully sold a large stake to French retailer Casino Guichard-Perrachon SA for $860 million, resigning as chief executive but serving as chairman. Additionally, Abrio was active in motorsport as a young man and won the 1970 Mil Milhas Brasil with his brother Alcides. Following in the footsteps of his father, his son Pedro Diniz was a former Formula 1 driver.
