Amorim billionaire Americo dies aged 82

17th July, 2017 by Lauren Eads

Billionaire Americo Amorim, Portugal’s richest man, whose family founded the Amorim natural cork empire, has died aged 82.

Americo Amorim

Posting to its Instagram page on Saturday, Amorim Cork offered a quote by Americo and praised his hard work and dedication to the business over sic decades.

“‘We are what we do consistently. Thus excellence isn’t an act, it’s a habit’ – Américo Ferreira de Amorim (1934 – 2017),” the post read. 

“The Amorim Group’s Board of Directors and Employees pay homage to this Man of vision, hard work and causes, who dedicated more than six decades of his remarkable career to development of the Group and the Portuguese economy. Until forever!”

According to Forbes, Amorim was worth $4.8 billion, having made his fortune through his family’s cork business, Corticeira Amorim. The family business was founded by Americo’s grandfather in 1870 and the business still processes about one quarter of the world’s cork.

He remained chairman of the board of the Grupo Amorim holding company, which owns Corticeira Amorim, among his other interests in the energy and banking sector.

According to Reuters, Amorim controlled holding company Amorim Energia, which is the largest shareholder in Galp Energia with a 33.3% stake.

The Portuguese oil and gas company is particularly active in oil exploration off the coasts of Brazil and Angola. He stepped down as chairman of its board at Galp in 2016, and replaced by his daughter, Paula.

In 2005 Amorim founded Angola’s Banco Internacional de Credito with Isabel dos Santos, the billionaire daughter of Angolan President Jose Eduardo Santos. In 2014 he sold his stake to Isabel dos Santos.

At the time of his death, Americo was the 385th richest person in the world.

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