Jayme Garfinkel, a billionaire hailing from Brazil, has a net worth of $2.1 billion.
The second largest insurance company in Brazil, Porto Seguro SA, was founded by Jayme Brasil Garfinkel on November 30, 1945, and he holds the position accordingly.
After graduating from the Polytechnic School of the University of Sao Paulo with a degree in Civil Engineering and an MBA from Getulio Vargas College, Garfinkel joined Porto Seguro in 1972 and was subsequently appointed as an Assistant Executive Officer.
In 1945, the insurance company was established, and almost 30 years later, it was purchased by the Garfinkel family.
Following his father’s passing, Garfinkel became the new owner of Porto Seguro, which has grown to become the leading auto insurer in Brazil, offering coverage for around 4.2 million vehicles. The company has subsidiaries such as Azul Seguros, Porot Seguro Saude and Porto Seguro Vida.
Garfinkel stepped down as CEO in 2011, but he still serves as the Chairman of the Board and participates in the company’s day-to-day activities.
He also served on the boards of CNSP and the Syndicate of Private Insurance and Capitalization Companies of Sao Paulo.
Garfinkel is presently a member of the consulting committee of Fenaseg.
He has financed the construction and upkeep of schools in shantytowns surrounding Sao Paulo, which cater to more than 50,000 children, through his insurance company.