The Belmiro Mendes de Azevedo family controls Portugal’s largest business group, Sonae SGPS. Headquartered in Maia, Portugal, the group engages in retailing (food and non-food), real estate and telecommunications. Belmiro de Azevedo took control of Sonae in 1974.
The son of a carpenter, Belmiro de Azevedo began working at Sonae in 1965 as a researcher. His role in the company grew, prompting Belmiro to earn an MBA at Harvard in 1985 to support his new responsibilities. He assumed control of Sonae after its owner went into exile in 1974.
Under Belmiro’s leadership, Sonae grew and diversified over the decades. In 2007, he transferred leadership of the company to his son Paulo de Azevedo. At the time of Belmiro de Azevedo’s death in 2017, his estimated net worth was over $1.5 billion.
In 2019, Belmiro’s daughter, Cláudia Azevedo, became Sonae’s CEO. Her brother, Paulo, became company chairman in 2000.
