Corticeira Amorim, the global leader in cork production, functioned as the primary vehicle for Américo Amorim to accumulate a fortune estimated at $4.8 billion. Serving as the richest person in Portugal at the time of his death in 2017, he managed a diverse portfolio that extended far beyond traditional manufacturing into finance and energy sectors.
Foundations in Cork
Born in 1934 in Mozelos, Américo Ferreira Amorim was the fifth of eight children born to Américo Alves Amorim. He maintained a 50% ownership stake in Corticeira Amorim, an entity established by his grandfather in 1870. Under his stewardship, the firm solidified its status as the world's largest producer of cork, eventually reporting annual sales of $650 million.
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Diversification defined his later career. He held an 18% stake in Galp Energia, serving as chairman of the company until October 2016, at which point he transferred control to his eldest daughter, Paula. Within the financial sector, he partnered with Isabel dos Santos in 2005 to establish Banco Internacional de Credito in Angola. By 2008, he helped launch Banco BIC Portugal in Lisbon. He eventually divested his holdings in the BIC banking operations to Isabel dos Santos in 2014.
Recognition and Legacy
Américo Amorim received multiple honors throughout his professional life, including the Commander of the Order of Entrepreneurial Merit in 1983, the Grand Cross of the Order of Prince Henry in 2006, and the Grand Officer of the Order of Bernando O'Higgins. Married to Maria Fernanda de Oliveira Ramos, he lived in Freguesia de Grijó, where he died on 13 July 2017. He was buried in Mozelos.
Fast facts
- Born: 1934, Mozelos
- Died: 13 July 2017, Freguesia de Grijó
- Primary Business: Corticeira Amorim
- Wealth: $4.8 billion (at time of death)
- Key Energy Asset: 18% stake in Galp Energia
- Awards: Grand Cross of the Order of Prince Henry (2006)
Questions readers ask
What was Américo Amorim's main business interest?
He owned a 50% interest in Corticeira Amorim, the world's largest producer of cork.
Did he have involvement in the banking sector?
Yes, he co-founded Banco Internacional de Credito in Angola and Banco BIC Portugal.
Achievements
- Grand Cross of the Order of Prince Henry — 2006
- Commander of the Order of Entrepreneurial Merit — 1983
- Grand Officer of the Order of Bernando O'Higgins
