Jorge Paulo Lemann, the Brazilian-born billionaire who orchestrated some of the biggest consumer-product deals of all time, is now nearly 80 and living in Switzerland.
But he’s not about to adopt the Swiss ideal of retirement. Lemann, founder of private equity firm 3G Capital Partners Ltd., has stayed productive and says he’s ever-vigilant about watching the global business world.
“It’s a horror that everybody in Switzerland retires at 60 and thinks it’s all right,” he said at a panel near Sao Paulo with his wife Susanna for the Lemann Foundation, which focuses on improving education and cultivating leaders in Brazil.
Lemann is the world’s 34th richest person, with a net worth of $25.6 billion, according to the Bloomberg Billionaires Index. But he’s taken some lumps in recent years. The takeover and merger of Kraft Heinz Co. has stumbled, wiping out $20 billion in market value this year alone. 3G’s management style, based more on cost cutting than brand building, hasn’t worked for the U.S. food giant. Lemann remains a board member at Kraft, which recently brought in a new chief executive officer.
“I like doing everything well — and when I think I’m not doing something well — I try to improve,” said Lemann, who has dual Brazilian and Swiss citizenship. “The world is changing very quickly. There’s a lot of disruption.”
He says he has no lack of energy because there’s still much to be done. And daily exercises, which he calls “sacred,” help keep him sharp. A former pro tennis player in his youth, Lemann still enjoys the sport.
And when his wife pointed out that he sometimes sleeps during meetings, he added, “I also sleep very well.”
This article was provided by Bloomberg News.
