Portuguese Business Icon Américo Amorim Dies at 82

Portuguese Business Icon Américo Amorim Dies at 82

Americo Amorim, the man who had a profound role in growing Amorim Cork into the world’s largest cork products producer passed away on Thursday 13 July at the age of 82. Amorim was an heir to the cork business set up by his grandfather in 1870, expanded it and became a major diversified investor. He remained chairman of the board of the Grupo Amorim holding company, which owns Corticeira Amorim, among other interests.
According to news agency Reuters, Amorim was Portugal’s richest man with business interests ranging from energy and finance to the world’s largest cork producer, Corticeira Amorim.
Forbes states Amorim’s net worth was $4.8 billion and his biggest single asset an indirect 18 percent stake in Portuguese oil company Galp Energia.
Amorim controlled holding company Amorim Energia, which in its turn is the largest shareholder in Galp.
Last October, Amorim resigned from the post of chairman of the board of directors of Galp for personal reasons and was replaced by his daughter, Paula Amorim.
His nephew Antonio Rios de Amorim took over as chief executive at Corticeira in 2001. The company is the global leader in wine bottle stoppers and other cork products, accounting for more than a third of the global stopper market.
According to Antonio Amorim, Américo Ferreira de Amorim’s contribution and unparalleled persona, as a businessman and human, will forever be remembered by all at Amorim and throughout Portugal’s business community. “To his wife, daughters and other family members we convey our most profound condolences,” he said.