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# Abilio Diniz

Random fact: Pao de Acucar, or Sugarloaf, is an iconic mountain in Rio de Janeiro.


Diniz is a boardmember of Carrefour, a multinational chain of supermarkets, hypermarkets, and cash and carry stores. He owns almost 8 percent of the French company, which had nearly 12,000 stores worldwide and revenue of $87.8 billion in 2016. He's also chairman of BRF, a Sao Paulo food processor that produces more than 30 brands.

As of Jan. 21, 2018:
Last change ()
YTD change ()
Industry Food & Beverage
Biggest asset N/A
Citizenship Brazil
Age 80
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Abilio Diniz's net worth of can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

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Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:


Birthdate: 12/28/1936
Family: Married, 6 children
Education: Bachelor's Degree, Business Administration, Fundacao Getulio Vargas

Abilio dos Santos Diniz was born in Sao Paulo in 1936, the oldest of six siblings. His father, Valentim, was a Portuguese immigrant who founded Pao de Acucar as a pastry shop in 1948. Abilio helped deliver sweets while still a child. He graduated with a bachelor's degree in management from the Getulio Vargas Foundation's EAESP business school in 1959, and helped his father open the family's first supermarket. They expanded across Brazil in the decade that followed.

Pao de Acucar took over competing supermarket chains during the 1970s and acquired Eletroradiobraz, then Brazil's largest appliance retailer. His father began distributing shares to his children in 1988 based on their performance in the family business, which had grown into a retail conglomerate with more than 50,000 employees. Abilio received the largest stake, 16 percent. Each of his two brothers got 8 percent while their three sisters ended up with 2 percent. This set the stage for a series of family squabbles that culminated in 1993 when Abilio purchased most of his siblings' shares and became the majority owner.

The company overextended itself during Pao de Acucar's quest for diversification in the early 1990s. Diniz cut jobs, refocused the business and held an initial public offering in 1995, raising $112 million. He sold a 24 percent stake in 1999 to France's Casino Guichard-Perrachon, controlled by Jean-Charles Henri Naouri, for $1.1 billion. Casino acquired a 50 percent voting stake in Pao de Acucar in 2005, paying Diniz 1 billion reais ($500 million) so he could acquire 60 of the company's supermarkets. The deal gave Casino the option to take control seven years later. Pao de Acucar acquired the Ponto Frio and Casas Bahia appliance retail chains in 2009.

Two years later, seeking to reverse his sale to Casino, Diniz won the support of Brazil's state development bank, BNDES, to finance a merger between Pao de Acucar and the local operations of Casino's rival Carrefour. The bid failed. Casino took control of Pao de Acucar in 2012, and by January 2015, Diniz had sold his stake in the company founded by his father. Still serving as its chairman, he reinvested some of the proceeds in food producer BRF, a Pao de Acucar supplier, and was elected chairman of that company as well. The move led Casino to file for international arbitration, alleging conflict of interest. Diniz said there wasn't one. He since stepped down as Pao de Acucar's chairman.

Diniz's dedication to business is matched by his commitment to fitness. In past years, he exercised for as many as five hours a day. He still plays squash, runs and lifts weights, and follows the advice of a personal nutritionist. He has four children with his first wife. He lives in Sao Paulo with his second wife Geyze, a former Pao de Acucar executive, and their two small children.

  • 1936 Abilio dos Santos Diniz is born in Sao Paulo.
  • 1948 Portuguese immigrant Valentim Diniz opens a Sao Paulo pastry shop.
  • 1956 Enrolls in the Empresas da Fundacao Getulio Vargas.
  • 1959 Helps father open Pao de Acucar's first supermarket.
  • 1989 Gets kidnapped in Sao Paulo for five days.
  • 1995 Pao de Acucar raises $112 million in an initial public offering.
  • 1999 Sells 24 percent stake to France's Casino for $1.1 billion.
  • 2005 Casino gains 50 percent control of Pao de Acucar. Diniz gets 60 store parcels.
  • 2008 Father Valentim Diniz dies at the age of 94.
  • 2013 Buys food producer BRF and becomes its chairman.
  • 2013 Steps down as president of the Pao de Acucar council.
  • 2014 Peninsula acquires stake in Carrefour's Brazil divison.
  • 2016 Becomes a board member for Carrefour SA.