Marcel Herrmann Telles, the Brazilian billionaire investor and co-founder of private equity firm 3G Capital, has taken a significant step in succession planning by donating his stake in Anheuser-Busch InBev SA (AB InBev), the world's largest beer maker, to his son, Max Van Hoegaerden Herrmann Telles. Telles, along with partners Jorge Paulo Lemann and Carlos Sicupira, own approximately one-third of AB InBev through the entity BRC.
The transfer of Telles's stake, valued at $6.1 billion according to the Bloomberg Billionaires Index, was completed on December 15, 2023. In addition to the substantial financial inheritance, Max Telles has inherited his father's voting powers within the company, making him a key player in the future of AB InBev.
The move comes as AB InBev faces challenges, including a culture war in 2022 related to a sponsorship with transgender influencer Dylan Mulvaney. The company disavowed a campaign after a backlash from conservatives, leading to criticism from the LGBTQ+ community and a decline in beer sales.
Marcel Telles, at 73 years old, is the youngest of the investment trio, which includes 84-year-old Lemann and 75-year-old Sicupira. The trio also holds stakes in Kraft Heinz and Restaurant Brands International, with a total of 11 heirs to their empire. However, no specific dates for the succession handover have been established.
Marcel Telles has previously transferred some of his holdings to his children, including a 2017 donation of shares in Brazilian real estate firm Sao Carlos Empreendimentos e Participacoes SA to Max and his older brother Christian. Christian and Max are the only known children of Marcel Telles.
Marcel Telles, with a net worth of around $11.2 billion, has a rich history in the beer-making industry, having played a crucial role in the merger of Belgian InterBrew with Anheuser-Busch in 2008. In contrast, Max Telles, with limited industry experience, interned at Credit Suisse and Falcone in Brazil before working as a financial analyst at BTG Pactual Asset Management in New York. Max had previously served as a global management trainee at AB InBev in 2018.
The succession plan sets the stage for Max Telles to carry on the family legacy in the brewing and investment sectors, representing a significant shift in leadership within the AB InBev conglomerate.
