Américo Amorim Net Worth, Biography and Career

Américo Amorim Net Worth $5 Billion

Popularly known as the “king of cork” for amassing his wealth on cork stoppers, Américo Amorim lived as a Portuguese billionaire businessman who was believed to be the wealthiest person in Portugal at the height of his success.

He owned and managed the Corticeira Amorim company which he led via executive positions until his resignation because of health problems. Born into a modest family in Mozelos, Portugal, in 1934, as the fifth of eight children, Amorim started work at Corticeira Amorim when he was 18 years old.

He soon left that job to spend a few years traveling through Asia, Europe, and South America. Later on, he inherited a 2.5 percent share in the family business, and from that, he established his own business empire on the back of an export drive.

Portugal is known to be the largest cork producer in the world, accounting for about 50 percent of global output, and no cork company tops Corticeira Amorim in the business. Mr. Amorim’s grandfather founded the company in 1870, and it grew exponentially to the point that it processes about 25 percent of all the cork in the world. Mr. Amorim built a fortune worth several billion dollars from this business.

With plastic stoppers for wine bottles eating into his market, Mr. Amorim broaden cork uses into areas such as furniture and insulation and started a conglomerate, the Amorim Group, that eventually expanded his business into tourism, wine production, and other things.

Mr. Amorim also held noteworthy stakes in Portuguese energy, financial, and telecommunications companies. His own companies also carry out business operations in dozens of countries around the world.

Early Life: Childhood, Family

Américo Ferreira Amorim was born in Mozelos, Santa Maria da Feira, Portugal in 1934. He is the fifth of eight children in the family of Américo Alves Amorim.

There isn’t much information regarding his childhood days as well as his educational history. His grandfather was the founder and former owner of the cork producer Corticeira Amorim.

Professional Life: Business Career

Mr. Amorim was a successful businessman who owned half of his grandfather’s establishment, the Corticeira Amorim Company which is currently known to be the leading cork producer in the world. His grandfather founded the company in 1870, and today, it is the world’s most successful producer of cork, recording over $650 million in sales at the end of every year.

Americo Amorim’s interests were also related to finance and energy. In 2005, he and billionaire businesswoman Isabel dos Santos established Banco Internacional de Credito (BIC) in Angola. On 22 April 2008, Banco BIC Portugal started its operations in Lisbon the capital of Portugal with the same ownership structure as Banco BIC Angola.

In 2008, Banco Internacional de Credito Angola was identified as the fourth biggest in Angola behind Banco Popular de Crédito (BPC), Banco Africano de Investimento (BAI), and Banco Fomento Angola (BFA).

In 2014, Amorim sold his stake in Banco Internacional de Credito to Isabel dos Santos. His largest investment was the 18 percent stake he had in Galp Energia, a company he served as its chairman until October 2016 when relinquished his role to his eldest daughter Paula.

Personal Life: Wife, Children

Américo Amorim was happily married to Maria Fernanda de Oliveira Ramos. She is the daughter of Maria José Nunes de Oliveira and her husband, medical doctor Manuel Pinto Moreira Ramos.

Amorim and his wife shared three daughters together. They lived in peace in Grijó until the businessman’s demise on 13 July 2017.

Back in 2009, Mr. Amorim was given an honorary doctorate degree from St. John’s University.

Americo Amorim Net Worth: Salary, Income Sources, Assets

Mr. Americo Amorim was the richest person in Portugal during his prime years. As a dedicated and hardworking businessman, the Portuguese investor and father of three amassed a solid net worth of 5 billion dollars before his passing in June 2017 when he was 83 years old.

Available documents clearly show that this man made all his money from his successful business career where he owned and controlled 50 percent of Corticeira Amorim, a successful company that was founded by his grandfather back in the 1870s.

Corticeira Amorim is a cork-producing company that has since grown into an establishment that is known as the world’s largest cork producer. Formerly the chief executive officer of the company, Mr. Americo Amorim resigned from his various roles at the helms of the business because of his age and health complications.

He also paid attention to other businesses including real estate, construction, and tourism investments. Not to forget, he also invested some of his personal wealth in a number of energy companies and banks, and these investments turned out highly successful and contributed to his wealth.

Mr. Amorim also owned 25 percent of the design company Tom Ford. He lived his life as a dedicated businessman and model worthy to be emulated by the upcoming generation. His legacy will not be forgotten so soon.