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# Americo de Amorim

Random fact: Was largest shareholder of Galp Energia.

Overview

Amorim built his family's cork maker, Corticeira Amorim, into the world's biggest producer, before taking it public in 1988. The Mozelos, Portugal-based company had revenue of 641 million euros ($710 million) in 2016. The billionaire was an investor in oil producer Galp Energia and fashion house Tom Ford. He died in July 2017.

As of Sept. 22, 2017:
Last change ()
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Industry Energy
Biggest asset N/A
Citizenship Portugal
Age 82
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Americo de Amorim's net worth of can buy ...

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Latest News

Net Worth Summary

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Biography

Birthdate: 7/21/1934
Family: Married, 3 children

Amorim was born in Portugal in 1934. He started to work at his family's cork company, Amorim & Irmaos, with brothers Jose, Antonio and Joaquim, when he was 19, according to the company's website. He began to transform the mid-sized business, and formed the Corticeira Amorim unit in 1963. He built the firm into the world's biggest cork producer and listed it on the Lisbon Stock Exchange in 1988, according to the company.

Earlier that decade he had begun to diversify, helping to establish Banco Portugues de Investimento, which finances private sector investment projects, according to a March 2015 article by Portuguese daily Publico. Three years later, he partnered with French hotel group Accor to develop hotels in Portugal, and subsequently Cuba and Mozambique. He set up closely held Banco Nacional de Credito in 1990, and by focusing on mortgage issuance grew it to become Portugal's biggest lender by 2003, the year he sold it to Banco Popular in exchange for a 4.5 percent stake in the Madrid-based bank, according to a 2003 report in El Pais.

He helped form the mobile phone company Telecel in 1991, which acquired one of the first mobile phone licenses in Portugal. Amorim sold his Telecel stake in 1997, shortly after the firm was listed on the Lisbon stock exchange. In the mid-nineties he participated in the privatization of the oil company Petrogal and, through Amsterdam-based holding company Amorim Energia, now holds the largest stake in oil producer Galp Energia, according to data compiled by Bloomberg. More diversification followed in 2007, when his Mozelos, Portugal-based Amorim Group bought a quarter of fashion house Tom Ford International.

He lived with his wife Maria Fernanda de Oliveira Ramos in Mozelos, Portugal, and had three daughters. He died in July 2017.

Milestones
  • 1934 Amorim is born in Mozelos, Portugal.
  • 1963 Cork maker Corticeira Amorim is founded.
  • 1988 Lists corking businesses on the Lisbon Stock Exchange.
  • 1992 Elected to chairman for cork sector group Confederation Europeenne du Liege.
  • 2003 Sells BNC to Banco Popular in exchange for 4.5 percent in equity.
  • 2005 Creates Amorim Energia and buys a third of state oil company Galp.
  • 2007 Buys 25 percent stake in luxury fashion brand Tom Ford International.
  • 2016 Resigns as chairman of energy company Galp.
  • 2017 Dies at the age of 82.