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Luis Carlos Sarmiento Net Worth

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Luis Carlos Sarmiento's Net Worth as of 2024
$16.5 Billion

Luis Carlos Sarmiento Angulo was born on 27 January 1933, in Bogota, Columbia, and is famous for being a self-made billionaire who now controls a sizeable percentage of banking in Colombia. Luis Carlos is ranked by Forbes magazine in 2015 as the richest person in Columbia, and the 82nd richest person in the world.

So just how rich is Luis Carlos Sarmiento? Forbes estimates that Luis Carlos’ net worth is almost $13 billion, his wealth having been made initially in the construction industry, and latterly invested in banking.

Luis Carlos Sarmiento Net Worth $13 Billion

Luis Carlos Sarmiento was graduated in 1955 from the National University of Columbia with a degree in civil engineering. His working career began during the 1950s, building residential and commercial developments. After making his name in the construction business, Sarmiento founded Grupo Aval as a holding company, and set about accumulating banking, telecommunications, and real estate interests. Beginning in 1980, Sarmiento bought shares of Bank of Bogota, a process which ended in 1988 when he controlled more than half of the bank. In 1996, he acquired the Popular Bank, and in 1998-99 Sarmiento acquired several Colombian corporations. Sarmiento then integrated the businesses into Corficolombiana, and taking advantage of the semi-privatization of the social security system in Colombia, he founded Porvenir, the largest pension fund in Colombia, which controls 22% of shares.

In 2010 Luis Carlos acquired Bac – Credomatic, the largest Central American financial Group, and today the Samiento’s Aval Group controls four major banks, as well as other financial service corporations, which form the backbone of the organization: Bogota, Occidente, Popular and AV Villas, Corficolombiana.

Luis Carlos Sarmiento is considered one of Colombia’s most prudent entrepreneurs, known for his conservative management techniques. This cautious approach helped his financial empire ride the storm generated by the worst recession in Colombia’s history. For example, in 2000, plans to list Grupo Aval on the New York Stock Exchange were postponed due to Wall Street’s unfavorable climate for emerging market funds. Sarmiento’s net worth increased significantly between 2005 and 2006, thanks largely to Colombia’s bull stock market, Bolsa de Valores de Colombia, the world’s second best performing in 2005. Since 2006, he has run Grupo Aval with help from son Luis Carlos Jr., whom he is grooming to eventually take over the family empire.

Luis Carlos’ latest acquisition is the media company Casa EditoriL Tempo, which controls Portafolio newspapers, including Clombian El Tiempo, in 2012, and has announced a deal to build a Grand Hyatt Hotel in Bogota. Now nearly 47,000 people work in Colombia in some company of Aval, and 15,000 in other countries. It is estimated that the group has built about 40,000 houses.

It is very easy to see where Luis Carlos Sarmiento has accumulated his net worth over the last 50 years, all self-made.

In his personal life, Luis Carlos Sarmiento married Fanny Gutiérrez de las Casas in 1955, and they have five children.

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications. At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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Businesspersons

Charles Saatchi Net Worth

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Charles Saatchi is one of the richest and best known businessmen in the world and one of many millionaires. Saatchi’s overall net worth has been stated to be $100 million for 2014. Charles Saatchi was born in Baghdad, Iraq, but later had to move together with his family to London, UK to avoid the persecution of Jews in his home country. He was the second son in the family of four kids. As a teenager Charles was really interested in American pop culture and studied at the London College of Communication. After graduation he began his professional career as a copywriter working for “Benton & Bowles” and later started to work in tandem with an art director, Ross Cramer, and together they formed their own company called “CramerSaatchi”.

Charles Saatchi Net Worth $100 Million

They were successful and took-on employees John Hegarty and Heremy Sinclair, but true success came to Charles later. In 1970 Charles Saatchi started his business together with brother Maurice: they established “Saatchi & Saatchi” agency which had become the largest advertising agency in the world by the mid-80’s with just a huge number of high-profile clients like UK Prime Minister Margaret Thatcher and British Airways. However, Charles and Maurice left the agency and together founded another one called “M&C Saatchi”. They took many of their important clients with them, and one of these was British Airways. Nowadays, thanks to his prosperous business, Charles Saatchi has a net worth of $100 million dollars.

To the rest of the world Saatchi is also known as one of the most famous modern art collectors. He purchased his first art work in 1969 –  by Sol LeWitt,  a minimalist from New York. His passion for paintings only grew, and in 2009 he even published the book “My Name Is Charles Saatchi And I Am An Artoholic” wherein the author answered many questions and even gave some advice about collectibles. But the book didn’t become as popular as Saatchi expected, so the author asked his personal assistant to buy a huge number of books to help his work hit some positions in bestseller charts. Later in 2009 Saatchi appeared on the BBC program “School of Saatchi” and gave many young artists a perfect opportunity to show their talent and showcase artworks: some artists even painted portraits of Saatchi himself. In July 2010 Charles Saatchi donated his Saatchi Gallery to the British public together with 200 works of art.

Saatchi’s personal life has never been very public, but he married his first wife in 1973. He had met Doris Lockhart Dibley in 1965 while working for “Benton & Bowes”. The couple lived together for the six years before marrying, but divorced in 1990.  Saatchi’s second wife was Kay Hartenstein to whom he was married from 1990-2001, and they even had a daughter together. Then Saatchi married for the third time in 2003, to English journalist, food writer, gourmet and television personality Nigella Lawson, but after public disagreements, were divorced 2013.

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Businesspersons

Mikey Teutul Net Worth

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Michael Joseph was born 26 November 1978, in Montgomery, New York State USA, and widely known as Mikey Teutul, is a reality television personality, the youngest son of Orange County Choppers founder Paul Teutul, Sr. Mikey began his working life at 14, in the family business.

So just how rich is Mikey Teutul, as of late 2017? Authoritative sources estimate that Mikey has a net worth of over $3 million dollars, largely earned  by working at his father’s and older brother Paul Jr,’s company Orange County Choppers (OCC), and Orange County Iron Works, and through his TV appearances.

Mikey Teutul Net Worth $3 Million

Little is known of Mikey’s early life or education – it seems to have always revolved around the family business. Helping out his family in his teens, theoretically he worked as Assistant General Manager. but his main duties were to answer ‘phones, and clear-up and take out the trash. He was on rare occasions given the chance to build bikes, until he was competent to build his own. He also attended events for promoting OCC.

In 2002, the family was invited to take part in a reality show, Discovery Channel’s “American Chopper”, and subsequently “American Chopper: Senior vs. Junior”, in the course of which the youngest son was thrown out of the business – the middle son is Daniel, and younger sister Cristin. The reason for Mikey’s exclusion was  that Mikey tried to be a mediator between his father and his brother, but his father seemed to be offended that his younger son did not take his side, and so threw him out of the business. During the filming of the show, Mikey was somethoing of a comedy relief to his father’s workers, and that comedy streak helped gain him popularity in TV shows. Mikey then joined his brother’s post-OCC venture, -Paul Jr  Designs – along with most of their father’s employees; obviously the work atmosphere with Paul Teutul, Sr. was not a particularly happy one. Mikey’s eldest brother Paul  Jr. was the former chief fabricator of OCC.

So actually the main source of Mikey Teutul’s wealth is not his father’s business, but the shows he eventually took part in. These have included ‘The Late Show with David Letterman”, “Late Night with Conan O’Brien”, and also “The Tonight Show” with Jay Leno. The shows became very popular and Mikey’s appearances earned him a significant amount of money. To say the least, the family drama did not go without consequences – according to rumours, Mikey Teutul was suffering from an addiction problem, and consequently admitted himself to rehab, and managed to overcome the bad habits which were apparently hindering his progress in life, obviously including business.

In his life away from the businesses already referred to and the limelight of TV, Michael loves to paint, and is apparently respected for his productions, as he opened “The Wolfgang Gallery” gallery in Montgomery, New York, where he has sold or auctioned his paintings, adding somewhat to is net worth, although rumours suggest that the gallery may now be closed. Most recently, Mikey is now trying to enter the market under the moniker LLC FarQueue Products with his line of gourmet pasta sauces. Good luck, Mikey!

In his less-than-private personal life, Mikey is apparently still single – there aren’t even any rumours of romantic liaisons.

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