Early Life
Guilherme Benchimol was born in Rio de Janeiro, Brazil, in 1976. He grew up in a family where his father was a cardiologist, and his mother was an artist. Benchimol attended the Federal University of Rio de Janeiro (UFRJ), where he studied economics.
Rise to Success
Benchimol started his career at a brokerage firm as an intern at age 18 and gained experience. In 2001, after being laid off from a brokerage firm due to a crisis, he saw an opportunity to create his own business. In 2001, Benchimol co-founded XP Inc. with Marcelo Maisonnave in Porto Alegre. The company initially focused on financial education, helping people understand how to invest. Over time, XP expanded its offerings to include a wide range of financial products and services. By 2019, XP had 1.5 million clients and $70 billion in Assets Under Custody (AUC). Through the XP Institute, Benchimol aims to offer free education to 50 million Brazilians over the next 10 years.
Key Business Strategies
XP Inc. focused on making the financial market more accessible to the average Brazilian. This involved a strong emphasis on financial education, transparency, and providing a wide range of investment products. XP Inc. has also been innovative in its use of technology to provide financial services.
Philanthropy
Benchimol is involved in several initiatives focused on education and entrepreneurship. He is a board member of Primeira Chance, a scholarship program for gifted children in Brazil and is active with Endeavor Brazil, where he mentors young entrepreneurs.