AbÃlio Diniz dies at age 87

AbÃlio Diniz, one of the most influential names on the Brazilian business scene, passed away this Sunday, aged 87, after facing complications arising from respiratory failure caused by pneumonitis. The businessman, who had been hospitalized for a few weeks, saw his health deteriorate since he began to feel unwell during a stay in Aspen, making it necessary to urgently return to Brazil in a plane equipped with an Intensive Care Unit (ICU).

“The businessman leaves behind five children, a wife, grandchildren and great-grandchildren, and will meet his son João Paulo, who passed away in 2022. The family is grateful for all the messages of support and affection,†says the note sent by the family.

Despite not having followed the traditional paths of showbiz, Abílio Diniz gained recognition and admiration by intertwining his own life journey with the evolution of retail in the country. From the beginning, with the first Pão de Açúcar store, to the founding of Península Investimentos, he remained immersed in the sector he helped shape, building one of the largest fortunes in Brazil, estimated at US$ 4.2 billion by Forbes. His legacy placed him as the 17th richest man in Brazil and 1223rd in the world ranking.

Abílio Diniz, the biggest retail businessman

Born on December 28, 1936, Abílio was the firstborn of Floripes Pires and Valentim Diniz. After graduating in Administration from FGV's School of Business Administration in 1956, he joined the family business, Supermercado Pão de Açúcar, at the suggestion of his father.

Despite resisting the title of founder of the network, recognizing his father's contribution, Abílio was a visionary from an early age. The expansion of the group was its mission, giving rise to the first store on Av. Brigadeiro Luiz Antônio, in São Paulo, in the late 1950s.

His career was marked by thoughtful decisions and audacious ambitions. Initially inclined to pursue an academic career after graduating, the fascination with the country's first supermarkets, Peg-Pag and Sirva-se, introduced by his father, changed his direction. “That turned my head. I realized that it would be possible to create a big company that way,” he revealed.

AbÃlio Diniz leaves a legacy that goes beyond family boundaries, impacting the market and inspiring future generations. His departure leaves a void that will be felt by his wife, five children, grandchildren, great-grandchildren and all those whose lives were touched by his vision and determination. The family is grateful for the expressions of support and solidarity at this difficult time.

Featured photo: Abílio dies at the age of 87 due to kidney failure (Source: Reproduction/Leandro Fonseca/Exame)