Michael Klein net worth
Michael Klein Net Worth: Michael Klein is a Brazilian entrepreneur with a net worth of $2 billion. A newcomer to the world’s richest men, Michael Klein has made his fortune as chairman of Via Varejo. The company was formed in 2010 by the merger of retail giants Casas Bahia and Ponto Frio, the first being the creation of his father and the second being owned by Companhia Brasileira de Distribuicao.
Born in Nazi Germany as a toddler, Michael’s family moved to Brazil, where he would grow up and his father would start a family business. In 1969 he joined Casas Bahia as financial manager. About four years later, he succeeded his father as the company’s CEO. Via Varejo raised $1.2 billion in a public offering in late 2013. In fact, it was named Brazil’s second-largest IPO last year, as the company was valued at $12.9 billion and gave the Klein family a way to cash out in a dispute with a partner. As a result, Michael became the largest sole shareholder with a 10% stake. Klein’s eldest daughter, Natalie Klein, who is married to four children, is the owner of NK Store, one of Brazil’s most exclusive department stores.
