20 Things You Didn’t Know About Andre Esteves

Andre Estevez

Andre Esteves is a Brazilian businessman who is known as one of the richest people in Sao Paulo, He’s a billionaire who has made his fortune in the financial sector of business. Those who work with Mr. Esteves know that he’s a savvy entrepreneur and he didn’t make billions by having someone else make his business decisions for him. We wanted to know more about how he has achieved his current level of success, so we looked into his past history to look for pearls of wisdom, and we learned a lot about the man in the process. We’d like to share some of the interesting facts that we learned, so here are 20 things that you probably didn’t know about Andre Esteves.

1. He was born middle-class

It was our first assumption that Andre was born into a wealthy family because it’s not easy to make millions, let alone billions without a little help from the family estate. He didn’t have rich parents to help him out. He was born in Rio de Janeiro, where he grew up with his family until it was time for him to strike out on his own.

2. He laid a good foundation for his future career

Andre went to college after finishing high school. He enrolled in a computer science program at the Federal University of Rio de Janeiro. He earned his bachelor’s degree, then he embarked on his new career. He knows the value of education and he did the necessary preparatory work for securing gainful employment.

3. He worked his way up at his job quickly

Andre was a hard worker and a smart worker at the same time. He joined a company called Pactual right after he graduated with his college degree. It only took him a year to move up to the bank’s foreign debt trading team. Within just one more year hie was charged with managing the bank’s M&A and IPOs, which is a heavy amount of responsibility for someone so young who had not been in the banking industry that long. He was off to an impressive start, but this wasn’t the extent of it. He was so good that he helped the bank to post a 59% return on capital by 1992, and they made him a partner.

4. He bought the bank he worked for

Andre was so good at what he did that he was able to make enough money to actually by Pactual. Within 6 years of making partner, he purchased the institution, and within just two years of ownership, he left the running of the bank’s affairs in the hands of Brazilian partners that he trusted to go out and start new business ventures, which we must say, were quite successful.

5. He founded a global investment company

In June of 2008, Andre Esteves founded the BTG investment company. Although he had released his interest in Pactual to go out and form this new firm, it was in his mind to acquire it back. He and a few other partners rased the $2.5 billion they needed and bought the bank back from UBS. Now he was not only the founder of a global investment firm but also co-owner of Pactual bank.

6. He’s currently a multi-billionaire

According to Forbes, Andre Esteves is currently worth an estimated $4.7 billion. This is quite impressive when you consider the fact that he started out at Pactual with a bachelor’s degree in computer science and began his work there as an intern. He rose up through the ranks quickly because he knew how to make money for the bank, and he was rewarded handsomely for his efforts. Esteves was wise with every penny that he made and he invested in the right ventures and connected with the right people in key places. This allowed him to continue to acquire the right companies for building his tremendous wealth.

7. He was an executive leader at BTG

Andre Esteves isn’t one to just let things ride. He has to be doing something for the good of the order. He served as CEO of BTG, as well as chairman of the board of directors. He’s a multi-billionaire, and although he doesn’t need to work to make more money, he chose to show up every morning at 6:30 a.m. He’s dedicated to his job and he works hard, just like most other people.

8. He’s a brilliant strategizer

Esteves knows what he’s doing when it comes to leveraging resources and biding your time. We saw this when he negotiated the sale of USB Pactual to BTG, the firm that he created. His position as CEO and chairman at BTG also covers their acquisition, UBS Pactual, where he once served as an intern.

9. His life is not without scandal

Andre Esteves was the subject of an investigation in 2015. It was related to the finance business. A sting that was named Operation Car Wash resulted in him being accused of obstruction of justice. This was one of the largest corruption scandals to break out in the entire country of Brazil. He was arrested and kept in jail for nearly three weeks over the incident. This was an unfortunate chain of events which put his life and his career on hold, but three years after his arrest, he was fully acquitted of the corruption charges. He had previously stepped down as chair and CEO. He went back to BTG where he is still one of the controlling partners in the firm.

10. He’s got simple tastes with a few extravagances

Although Esteves can have just about anything that money can buy, he doesn’t take it over the to with spending. We learned that he owned a Mercedes pickup and he kept it for four years. He’s not the kind of guy that goes out and gets a new vehicle every year for prestige sake. This isn’t something that he needs to do to feel good about himself. He has simple tastes, and he said that he “loves his job,” and he only takes two weeks worth of vacation annually. He prefers to work rather than spend his life playing all the time. He enjoys simple pleasures like good food, wine and the cinema, but it’s worth mentioning that he does own a $50 million Dassault Falcon private jet.

11. He’s a philanthropist

Esteves is a very rich man, but he makes sure to donate to worthy causes. he’s concerned about the environment and he knows the value of a good education. These are both charity types that he supports. He’s also involved with initiatives and projects that made improvements in education, as well as the arts in Brazil. He supports the Universidade de Sao Paulo, and he also supports Hospital de Cancer de Barretos.

12. Andre Esteves also supports causes in the US

Andre’s generosity also extends to counties outside of his homeland. The Harvard Business School accepts many international students into its program. Esteves made a donation to the school to renovate Baker Hall so international students will have a large and comfortable dormitory in which to live when they’re in attendance at the school. The center will be renamed Esteves Hall to honor his generous contributions to the comfort of the students.

13. He’s recognized outside of his home country

Andre Esteves is appreciated within the borders of his home country of Brazil, but he’s also received accolades from the outside. The Brazilian Chamber of Commerce of the UK named him as Person of the Year in 2014. This was just a year before he would undergo a terrible scandal and incarceration before being acquitted of the charges made against him.

14. Esteves is an influencer

Andre’s influence is apparent in Brazil, but it even extends far beyond that. Bloomberg named him as one of the most influential people in the world in 2012. This is quite an honor and distinction because there were only fifty people who made the list. In a world of billions of people, this says something about his reputation on an international level. He’s well respected and carries a lot of influence.

15. He has an amazing personality

Esteves was not only named to Epoca magazine’s 100 Most Influential Brazilians list for four consecutive years, but he was also named Personality of the Year. This honor was bestowed upon him by Latin Finance magazine in 2010. We all know that he didn’t earn this distinction by being a jerk, and from his track record of donations and support of worthy causes, we’re seeing the profile of a genuinely caring person in Andre Esteves.

16. He’s a family man

Andre Esteves is married to his wife Llilian. The couple have three children together. Their daughter is Fernanda Esteves, and their two sons are Pedro Esteves and Henrique Esteves. Even though he spends a lot of time at work, he’s made time in his busy life for romance, and a lovely family of three children.

17. His mother was an educator

We learned that Andre Esteves’ parents split up, then divorced while he was still growing up. His mother and his grandmother raised him during these years. It was good that he had both his grandmother and his mom to take care of him because his mother had a job outside of the home which kept her on a busy schedule. She was a high ranking professional at the State University of Rio de Janeiro, where she was a professor of Educational Psychology. We’re assuming that this is where Andre got his value of education from because he didn’t waste any time getting his own college degree.

18. He was named in a lawsuit by an ex-employee

Zeljko Ivic filed a lawsuit against Esteves along with a fellow board of directors member Huw Jenkins. The ex-employee stated that teh pair had made misrepresentations which were fraudulent in nature to get him to sign agreements with Banco BTG Pactual SA. The suit was filed in Hong Kong, and it involved fundraising activities in China with nine organizations. Ivic sued them for $20 million in compensation to recover promises of partnership and unpaid bonuses.

19. He had conflicts with Central Bank and Brazilian regulators

When you run a multi-billion dollar business, there are always going to be some problems along the way. In 1999, there were three incidences where the Central Bank of brazil partnered with the securities commission to accuse Pactual of illegal transference of profits to foreign funds. It was further alleged that this was an attempt for Esteves and his partners to evade taxes by disguising the gains. The group was given two warnings but after the third, Esteves and his partner were required to pay fines of $100,000 and Pactual was fined 4 million.

20. Andre Esteves is a brilliant businessman

There are few people who are worth billions, who haven’t been involved in big business, that is unless they’ve inherited their fortunes. Esteves is one that had to work for it. In the process, he’s been accused of cutting a few illegal deals, and although one landed him in jail for a few weeks, he hasn’t been convicted of any felonious crimes. He seems to be a dedicated leader who works hard and tries to find ways to cut back on the amount of taxes that he pays, but this is a common practice. It seems he crossed the line, but all in all, Andre Esteves is a brilliant businessman, mathematician, and strategist. He built a massive fortune and he had very little to start with except for his own natural talents and aspirations. He’s a self-made man.


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