The 80-year-old billionaire investor behind AB InBev and Burger King calls it 'a horror' that the Swiss retire at 60, and it's a mindset shared by some of the other biggest names in business
- Brazilian financier Jorge Paulo Lemann called the fact that the citizens of his adopted home of Switzerland retire at 60 "a horror," according to Bloomberg.
- Lemann is the founder of investment firm 3M Capital, and is a major shareholder in Anheuser-Busch InBev, Kraft Heinz, as well as Burger King and Tim Horton parent Restaurant Brands International.
- Lemann's investments have earned him a fortune of $25.5 billion and made him the 35th-richest person on earth, according to Forbes.
- Visit Business Insider's homepage for more stories.
Brazilian billionaire Jorge Paulo Lemann, 80, isn't planning on retiring anytime soon.
"It's a horror that everybody in Switzerland retires at 60 and thinks it's all right," the financier said while speaking at a panel for his foundation, according to Bloomberg.
Lemann is the founder of investment firm 3M Capital, and is a major shareholder in Anheuser-Busch InBev, Kraft Heinz, and Burger King and Tim Horton parent Restaurant Brands International. Lemann's investments have earned him a fortune of $25.5 billion and made him the thirty-fifth richest person on earth, according to Forbes.
The financier was born in Brazil, holds dual Brazilian and Swiss citizenship, and resides in Switzerland, according to Bloomberg. Switzerland, notably, is the third-best retirement destination in the world based on its affordability, health-care, climate, and happiness, Business Insider previously reported.
Lemann also runs the Lemann Foundation, which supports educational initiatives in Brazil, according to its website.
In addition to working, Lemann also has a daily exercise routine that he called "sacred," according to Bloomberg. A former professional tennis player, Lemann still plays and even showed off his skills at an investment event in Sao Paulo in July 2019, Bloomberg reported.
Delaying or even forgoing retirement has become increasingly common in the United States, as advances in health care have made workers over 65 healthier than ever before, Business Insider's Tanza Loudenback previously reported. In fact, 75% percent of retirement-age workers say there are no limitations in the kind of work they can do, according to investment and financial-planning firm United Income.
And Lemann's continued work ethic at age 80 puts him in good company amongst people who continued to work well past the age of retirement. The late Karl Lagerfeld, for one, refused to retire right up until his death at age 85. And then there's Warren Buffett, who, at age 88, still goes to work every day and said in an interview with the Financial Times that he has no plans to retire.
- Best gaming mouse for battle royale games in India
- Best tablets for professional use in India
- Ethereum may offer the best returns, but investors have been pulling away over the last two weeks
- Google starts starts testing new safety section for apps, feature to go live in February 2022
- Horlicks and Boost maker HUL sees slowdown in food segment in the last three months