What is Joao Alves de Queiroz Filho's Net Worth?
Joao Alves de Queiroz Filho is a Brazilian consumer goods magnate who has a net worth of $1.6 billion. Born in 1952, Queiroz, also known as Junior, serves as the Chairman and CEO of Hypermarcas SA, a Brazilian conglomerate. A graduate of Faculdade Dom Pedro II, he started to earn his wealth with Arisco, a cleaning product company. His father founded the company in 1969, and through the years, it grew into Brazil's leading company in the food sector. Then, in 2000, Queiroz sold the firm to Bestfoods for $760 million, and the next year, he founded Hypermarcas after purchasing steel wool companies all over Brazil.
Currently, the company holds the major portfolio of consumer brands in Brazil, including cleaning supplies, drugs, food, as well as personal hygiene and beauty products, and it holds five industrial complexes with 13 diverse production lines, based in Sao Paulo, Santa Catarina, Rio Grande do Sul and Goias. Moreover, Hypermarcas could be best described as a Brazilian version of Unilever, which marked its growth thanks to product launches, powerful brand renovation, acquisitions, and gaining publicity with Brazilian celebrities. In addition to Hypermarcas, Queiroz also has interest in other companies, including Burger King, which he purchased in 2010 a deal led by Brazilian billionaires Marcel herrmann Telles, Carlos Alberto Sicupira and Jorge Paulo Lemann. Moreover, he is a board member of the Remuneration Committee.
