Pedro Moreira Salles is chairman of the board of Itaú Unibanco, Brazil’s largest private bank. With a fortune of US$5.5 billion, according to the Bloomberg Billionaires Index, Salles is heir to one of the country’s most traditional families: his grandfather João founded Unibanco in 1924. In 2022, he bought, together with his brother Fernando, the stake of his other two brothers in Itaú Unibanco. The transaction was valued at 59 billion reais (US$11.915 billion), giving him an 11% stake. In 2022, Itaú Unibanco’s profit grew by 14.5% to 30.8 billion reais (US$6.22 billion).
