Michael Klein

$1.30 B

Ranked #1415 in World

About Michael Klein

Michael Klein, born in 1951, is a prominent Brazilian business executive with a notable career, including his role as CEO of Casas Bahia and former Chairman of Via Varejo—key players in Brazil's retail sector. Klein, who pursued his education in Business Administration at Paes de Barros University and furthered his studies at the Getulio Vargas Foundation, took over Casas Bahia in 2009 from his father, Samuel Klein, the founder. Under his leadership, the Klein family regained a controlling stake in Via Varejo in June 2019, showcasing their ongoing influence in the nation's retail and e-commerce markets. Moreover, Klein has diversified his investments into real estate through Grupo CB and aviation via CB Air, demonstrating a versatile approach to business. This strategic expansion not only underpins the Klein family's significant stake in the Brazilian economy but also underscores their adaptability and vision in a variety of sectors.

Born

January 01, 1951 in Munich, Germany

Age

75 years

Source Of Wealth

Retail

Industries

Retail

Citizenship

Brazil

Residence

Barueri

Education

Master of Business Administration, Fundacao Getulio Vargas

Children

Michael Klein was born in 1951 in Brazil. He is the son of Samuel Klein, the founder of Casas Bahia, a Brazilian chain of department stores.

Michael Klein: Family

Michael Klein is married and has three children. His son, Raphael Oscar Klein, serves as a Member of the Board of Directors of Via Varejo.

Michael Klein: Career Highlights

Michael Klein graduated with a degree in Business Administration from Paes de Barros University and completed post-graduate studies at the Getulio Vargas Foundation. He joined Casas Bahia as a Financial Manager in 1969 and became CEO in 2009 after his father retired. He was elected Chairman of the Board of Directors of Via Varejo in 2010.

Michael Klein: Companies

Michael Klein is the CEO of Casas Bahia and the former Chairman of Via Varejo, the parent company of Casas Bahia, Cnova Brazil, and Ponto Frio. He is also the chairman of Grupo CB, his family's holding company, and the founder of CB Air, an air taxi company.

Michael Klein: Major Achievements

Michael Klein has led Casas Bahia to become one of the largest retailers in Brazil. He has also overseen the company's expansion into e-commerce and other new businesses. Under his leadership, Grupo CB has acquired a significant portfolio of real estate properties and CB Air has become a leading provider of business aviation services in Brazil.

Michael Klein: Awards & Achievements

Michael Klein has received numerous awards and recognitions for his business achievements, including the Ernst & Young Entrepreneur of the Year Award in 2010 and the Order of Merit for Entrepreneurship from the Brazilian government in 2011.

Michael Klein: Personal Life & Legacy

Michael Klein is known for his philanthropy and support of various social causes. He is also a collector of classic cars and art.

Michael Klein: Trivia

Michael Klein is a licensed pilot and enjoys flying his own plane. He is also a fan of soccer and supports the São Paulo Futebol Clube.

Wealth History

Timeline

1951

Michael Klein is born.

1952

Samuel Klein, Michael Klein's father, founds Casas Bahia.

1969

Michael Klein joins Casas Bahia as a Financial Manager.

2009

Michael Klein becomes CEO of Casas Bahia after his father retires.

2010

Michael Klein is elected Chairman of the Board of Directors of Via Varejo.

May 2013

Klein family plans to sell 16% of their stake in Via Varejo.

September 2013

Michael Klein transfers 17.6 million of his shares of Via Varejo to his children, reducing his stake from 21.9% to 18%.

December 2013

Via Varejo raises R$ 2.845 billion through a public offering of shares.

June 2014

Cnova, a global e-commerce company, is created through a joint venture between Casino, GPA, Via Varejo, and Exito.

August 2014

Michael Klein may sell an amount of shares valued at R$3 billion of his stake in Via Varejo.

July 2014

Klein's family holding company, Grupo CB, purchases a real estate fund from BR Properties for R$606.65 million.

January 2015

CB Air, an air taxi company founded by Michael Klein, receives operational authorization from ANAC.

March 2015

Grupo CB acquires five office properties occupied by Wells Fargo.

March 2016

Grupo CB opens a Mercedes-Benz dealership in Jundiai, São Paulo.

April 2016

Neymar purchases a business jet from the Klein family for $9.1 million.

May 2016

Michael Klein is interested in buying back control of Via Varejo.

August 2016

CB Air makes an offer for the purchase of Global Aviation.

August 2016

Steinhoff Group is in talks to buy the Klein family's stake in Via Varejo.

August 2016

CB Air purchases Global Aviation for R$70 million.

December 2016

National Civil Aviation Agency (ANAC) and the Administrative Council for Economic Defense (CADE) grant CB Air the green light for the acquisition of Global Aviation without restriction.

March 2017

Michael Klein lines up a proposal with several investment funds to buy back control of Via Varejo.

First quarter of 2017

The new operator, Icon Aviation, is announced.

May 2019

Michael Klein hires the financial advisory services of XP Investimentos to evaluate the acquisition of Via Varejo.

June 2019

Klein family becomes the largest shareholder of Via Varejo with a 27% stake after GPA sells its entire stake.

October 2019

Grupo CB plans to sell R$2 billion worth of a warehouse portfolio.

July 2020

The Klein family holds a 22.75% stake in Via Varejo.

Michael Klein : FAQs

What is Michael Klein's net worth?

As of 2015, Michael Klein's net worth was $1.30 billion.

What are Michael Klein's main sources of wealth?

Michael Klein's main source of income comes from Retail.

In which industry does Michael Klein primarily operate?

Michael Klein is primarily involved in the Retail industry.

What is Michael Klein educational background?

Michael Klein holds a Master of Business Administration from Fundacao Getulio Vargas.

How old is Michael Klein?

Michael Klein is 75 years old.

How many children does Michael Klein have?

Michael Klein has 4 children.

Who is Michael Klein and what role does he play at Casas Bahia?

Michael Klein, born in 1951, is a Brazilian business executive who became the CEO of Casas Bahia, a leading chain of department stores in Brazil. He took over this role following his father, Samuel Klein, who founded the company in 1952.

What is Via Varejo and how is the Klein family related to it?

Via Varejo is the parent company of retail giants Casas Bahia, Cnova Brazil, and Ponto Frio. Michael Klein, formerly its Chairman, and the Klein family have owned a controlling stake in Via Varejo since June 2019, highlighting their significant influence in the Brazilian retail sector.

What are some key career milestones of Michael Klein?

Michael Klein's career includes graduating with a degree in Business Administration, joining Casas Bahia as a Financial Manager in 1969, becoming its CEO in 2009, and being elected as Chairman of the Board of Directors of Via Varejo in 2010. His son, Raphael Oscar Klein, is also involved as a Member of the Board of Directors at Via Varejo.

How has the ownership structure of Via Varejo evolved over time?

The ownership of Via Varejo has seen notable changes, including the Klein family owning 47%, attempting to sell part of their stake in 2013, and finally becoming the largest shareholder with a 27% stake in June 2019 after GPA sold its entire stake. As of July 2020, the Klein family holds a 22.75% stake.

What ventures does Grupo CB undertake and what is its connection to Michael Klein?

Grupo CB, chaired by Michael Klein, is a family holding company involved in various ventures including purchasing real estate from BR Properties and opening a Mercedes-Benz dealership. The group planned to sell a significant portion of its warehouse portfolio in 2019 and holds a vast portfolio encompassing 432 real estate properties with expected rental revenue.