Patronage of the Rooster, Menin loses fortune and leaves Forbes’ list of billionaires

One of Atlético’s patrons and the club’s meritorious advisor, businessman Rubens Menin left the list of billionaires of the traditional Forbes Magazine, as the company announced last Wednesday (15).

Menin saw his fortune reach its highest level in July 2021, when he reached $3.9 billion in wealth. In the period, MRV’s shares were also going through a good moment, quoted at R$ 16.50.

The financial loss is the result of the fall in the shares of MRV and Banco Inter, companies owned by Menin. They faced the pandemic and the monetary tightening that the country is going through in an attempt to curb rising inflation in different ways.

In the last 11 months, the company’s assets lost more than 50% of their value, which yesterday (15) were quoted at R$ 8.14. Thus, in December, the CEO had already lost 66.6% of his equity, which reached US$ 1.3 billion (R$ 6.5 billion). In March 2022, the situation showed a slight improvement, with the valuation of his fortune to US$ 1.6 billion (R$ 8 billion), but it did not prevent the fall to less than US$ 1 billion this month.

The company’s margins were strongly affected by inflation, which currently stands at 11.73% for the year. In the balance of the 1st quarter of the year, the company profited R$ 78.2 million and had net sales of R$ 1.7 billion.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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