Dive Brief:
- Beer and chocolate have helped create the highest ranked food and beverage industry billionaires, according to Forbes' annual The World's Billionaires. This includes Warren Buffett (No. 3 — $60.8 billion), owner of stakes in Coca-Cola and Kraft Heinz through his company Berkshire Hathaway.
- Jorge Lemann (No. 19 — $27.8 billion), Marcel Telles (No. 68 - $13 billion), and Carlos Sicupira (No. 87 — $11.3 billion), all founding partners in 3G Capital, credit their fortunes in part to their shares in Anheuser-Busch InBev.
- Forrest Mars, Jr., Jacqueline Mars, and John Mars (tied at No. 27 — $23.4 billion) split their share of the Mars, Inc. fortune, which was founded by their grandfather more than a century ago. Maria Franca Fissolo (No. 30 — $22.1 billion) is the widow of Michele Ferrero, best known for creating the company that produces his namesake chocolates and Nutella.
Dive Insight:
The dominance of 3G executives on the list can be explained by the waves it has made in the food and beverage industry, particularly since acquiring Heinz in 2013. The company combined Heinz with Kraft last year. 3G is known for acquiring underperforming companies and employing zero-based budgeting and other aggressive cost-cutting measures to turn companies into profit powerhouses.
Considering recent speculation that Mondelez is a potential target, 3G could combine Mondelez with Kraft Heinz to deliver more cost-cutting for Mondelez that investors have demanded. If such a deal comes to fruition and impresses investors, it could further secure more years atop Forbes' list for these industry players.