- Category:
- Richest Business › Richest Billionaires
- Net Worth:
- $2.4 Billion
What is Nevaldo Rocha's Net Worth?
Nevaldo Rocha is a Brazilian businessman who has a net worth of $2.4 billion. He is a self-made billionaire who accumulated his wealth in the retail business. Back in 1947, he opened his clothing store, and almost a decade later, in 1956, he teamed up with his brother to co-found apparel maker Guararapes Confeccoes. They expanded their business into retail, after the company acquired the Riachuelo department stores in 1979.
Guararapes Confeccoes now provides goods to its retail subsidiary, Lojas Riachuelo, which has as many as 169 stores in the country and recieves more than 80% of its production. The rest of the production goes to more than 10,000 merchants across Brazil via sales representatives. Having it publicly listed in 1970, Rocha owns 83% of the company together with his three children. He serves as the chairman and chief executive officer, whereas his son Flavio is vice president of the company and his two other children, daughter Lisiane and son Elsio, are members of the board.
