Luis Carlos Sarmiento
Bogota, Colombia
Bachelor of Arts/Science, National University of Colombia
Colombia
banking, Self Made
$11,300,000,000
129
#129 Billionaires 2019
Luis Carlos Sarmiento Angulo took a fortune amassed in the construction industry and invested it in banks.His Grupo Aval now controls one third of all banks in Colombia. The octogenarian still chairs the company.After graduating with a degree in engineering, he briefly worked at a construction company, but took a 10,000 pesos payout and started his own firm. He bought Colombia's largest newspaper El Tiempo in 2012 for an estimated $250 million. His construction firm is building a Grand Hyatt in Bogota, set to open in August 2018.
At age 14 he worked part time at Colombia's national radio network making programs for children.He is the second youngest in a family of 9 children.
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