Education
Klein graduated with a degree in Business Administration from Paes de Barros University, and completed his post-graduate studies at the Getulio Vargas Foundation.
Klein graduated with a degree in Business Administration from Paes de Barros University, and completed his post-graduate studies at the Getulio Vargas Foundation.
Michael"s father, Samuel Klein, founded Casas Bahia in 1952. In 2015, Forbes ranked him 1,415th richest person in the world and 41st richest in Brazil with a personal Netto worth of $1.3 billion. Klein and his family reside in Alphaville, a gated community situated in São Paulo Paulo.
Casas Bahia and Via Varejo
In 1969, he joined Casas Bahia as a Financial Manager.
In 2009, Klein became Chief Executive Officer of the company after his father retired in Brazil. In 2010, he was elected Chairman of the Board of Directors of Via Varejo.
In May 2013, it was announced that the Klein family, which owned 47% of Via Varejo, was planning to sell 16% of their stake in the company. 53.7 million common shares of the family"s stake began trading on December 16, 2013.
Via Varejo raised R$ 2.845 billion through a public offering of shares.
Three quarters of the amount raised went to the Klein family, while the rest went to Grade Point Average. Ownership of the company has changed to Grade Point Average with 43.3%, the Klein family with 27.3%, and minority shareholders with 29.3%. In August 2014, it was announced that Klein may sell an amount of shares valued at R$3 billion of his stake in Via Varejo. Grupo Central Bank
In May 2014, BR Properties, a Brazilian real estate investment firm, confirmed it was negotiating a sale of its assets with Klein.
In July 2014, Grupo Central Bank, the Klein family"s holding company chaired by Michael Klein, purchased a real estate fund from BR Properties for R$606.65 million.
The fund includes 26 C&A stores, a Brooksfield store, a Sendas store, a call centre, and offices on Paulista Avenue in downtown São Paulo, totaling 118,000 square meters of commercial space. CBAir, an air taxi company founded by Klein in 2012, has received operational authorization from ANAC in January 2015.
The company"s fleet includes 3 business jets and 4 helicopters, and 2 hangars in Campo de Marte Airport and Sorocaba Airport. In March 2015, Grupo Central Bank acquired five office properties occupied by Wells Fargo, totaling 1.6 million square feet across four Southern United States. states.
Grupo Central Bank currently holds a real estate portfolio of 430 properties worth R$4.6 billion in total, including stores, industrial warehouses, administrative complexes, offices and distribution centers, totaling over 2 million square meters of commercial space.
He is the Chief Executive Officer of the Brazilian chain of department stores, Casas Bahia, and a Member of the Board of Directors of Via Varejo, the parent company of Casas Bahia, Ponto Frio and Nova Pontocom.
