Early Life and Family
Fernando Roberto Moreira Salles was born in Rio de Janeiro in 1946. He is the son of Walther Moreira Salles, the founder of Unibanco and a former Brazilian ambassador to the United States. The Moreira Salles family has a long-standing history in the banking industry, which began with Casa Bancária Moreira Salles, founded in 1924 by João Moreira Salles.
Rise to Success
Fernando, along with his brothers, is a major shareholder in Itaú Unibanco, created from the 2008 merger of Unibanco and Banco Itaú. He also holds significant stakes in CBMM (Companhia Brasileira de Metalurgia e Mineração), the world's leading supplier of niobium. CBMM's position in the niobium market has been a key factor in the family's success. Fernando's strategic vision has been instrumental in the family's business endeavors and the growth of their enterprises. In 2024, his net worth increased to $8.25 billion, with his main source of income coming from banking and minerals.
Key Business Strategies
Key business strategies involve the family's involvement in the financial sector through Itaú Unibanco and their diversification into the mineral industry with CBMM. The merger of Unibanco with Itaú was a pivotal moment in the family's history, establishing Itaú Unibanco as the largest private sector bank in Latin America. The family's foresight in diversifying their investments beyond banking has been a testament to their entrepreneurial acumen and their ability to anticipate global trends.
Philanthropy
Fernando, like his family, is involved in numerous philanthropic initiatives aimed at improving education, healthcare, and social equality in Brazil. The Moreira Salles family has demonstrated a commitment to social responsibility and community development through various charitable foundations.