Early Life
Joao Moreira Salles was born in Rio de Janeiro in 1962. He is a member of the Moreira Salles family, a prominent family in Brazil's banking sector. His father, Walther Moreira Salles, was the founder of Unibanco and a former ambassador to the United States. Joao's upbringing within this family provided him with a strong foundation in both business and culture.
Rise to Success
The Moreira Salles family's wealth originates from their involvement in banking and minerals. The family's financial empire began with the founding of Casa Bancaria Moreira Salles in 1924 by Joao, who ran a store. Over time, Walther Moreira Salles transformed the lender into Unibanco, a major financial institution in Brazil. In 2008, Unibanco merged with Itau, creating Itau-Unibanco, the largest bank in Latin America.
Key Business Strategies
The family's success is also linked to their stake in CBMM (Companhia Brasileira de Metalurgia e Mineração), the world's leading supplier of niobium, a mineral used to strengthen steel. This diversification of assets, combining banking with investments in the mineral sector, has been a key strategy for wealth preservation and growth. The family also has a single-family office, BW Gestao de Investimentos Ltda, which manages their assets.
Philanthropy
Joao Moreira Salles is involved in philanthropy through the Instituto Moreira Salles, a non-profit organization founded by his father. The institute focuses on promoting and developing cultural projects in areas such as photography, music, literature, and visual arts. It operates cultural centers in various cities in Brazil, including Rio de Janeiro and Sao Paulo, hosting exhibitions, film screenings, and concerts, and managing extensive collections.