Brazilian billionaire investor Marcel Herrmann Telles is getting his succession planning underway: he’s donated his stake on the planet’s largest beer maker, Anheuser-Busch InBev SA, to his son.
Telles and his companions Jorge Paulo Lemann and Carlos Sicupira, who collectively based the non-public fairness agency 3G Capital, personal round a 3rd of AB InBev. Telles’s transfer means Max Van Hoegaerden Herrmann Telles will now be a key participant in the way forward for the embattled drinks model.
The trio personal their AB InBev stake via the entity BRC, holding a 50% stake in Stichting AK Netherlands, which in flip owns 33.47% of AB InBev, in line with the corporate’s web site.
Telles’ stake alone within the Belgian brewer—recognized for manufacturers like Bud Mild and Stella Artois—is value a whopping $6.1 billion, in line with the Bloomberg Billionaires Index, and now lies within the palms of his youngest son, Max.
Based on a filing with the Securities and Trade Fee, the shares had been transferred on 15 December. And never solely did Max inherit billions over the festive break, but in addition his father’s voting powers on the firm.
“Max Van Hoegaerden Herrmann Telles thereby replaced his father as one of the individuals holding joint ultimate control over BRC, together with Carlos Alberto da Veiga Sicupira and Jorge Paulo Lemann,” the submitting notes.
The corporate might have a degree head on the desk.
Final 12 months AB InBev discovered itself in a heated tradition warfare when a sponsorship with transgender influencer Dylan Mulvaney went awry.
An Instagram put up by the TikTok star selling Bud Mild attracted backlash and requires a boycott from conservatives, following which AB InBev disavowed the marketing campaign.
That sparked criticism from the LGBTQ+ group for the brewer’s lack of support for Mulvaney after the fallout. The controversy resulted in a decline within the sale of its lager and misplaced Bud Mild the standing of America’s top-selling beer.
The primary of 11 successors
Regardless of being the primary to provoke succession planning, at 73 years outdated Telles is the youngest of the funding trio. In the meantime, Lemann is 84 and Sicupira is 75.
The trio even have stakes in Kraft Heinz and Restaurant Manufacturers Worldwide, which personal manufacturers together with Tim Hortons, Burger King and Popeyes.
In whole, the three reportedly have 11 heirs to their empire, however no dates for after they plan at hand over the reigns have been established.
In the meantime, Telles has already transferred a few of his different holdings to his youngsters. In 2017, he donated shares held in Brazilian actual property agency Sao Carlos Empreendimentos e Participacoes SA to Max and his eldest son, Christian. Christian and Max are Telles’s solely youngsters, although their ages and their household conditions are unknown.
Who’re Max and Marcel Telles?
With a web value of round $11.2B, Telles is one in all Brazil’s wealthiest people. He co-founded 3G Capital in 2004 however his expertise within the beer-making business dates again to nearly 50 years in the past.
He ran the Brazilian beer firm Brahma within the late Eighties, and helped create the Brazillian brewers Ambev in 1999. Right here he turned CEO and performed a key position within the merger of the Belgian InterBrew with Anheuser-Busch in 2008, forming the AB InBev we all know right now.
In the meantime, Max has little expertise within the business by comparability. The under-the-radar hier has saved a comparatively low profile, however in line with his LinkedIn profile has interned for the likes of Credit score Suisse and Falcone in Brazil, earlier than transferring to the States.
Most lately, he has been working as a monetary analyst at BTG Pactual Asset Administration in New York. However he was beforehand primed for taking on his father’s stake at AB InBev, taking up the position of world administration trainee for a 12 months on the firm in 2018.
