Sao Paulo, Brazil
#1057 Billionaires 2019
Luis Frias is chairman of PagSeguro Digital, a payments company that went public on the New York Stock Exchange in 2018, raising over $2 billion.Frias' late father acquired one of Brazil's most popular daily newspapers in the 1960s, today known as Folha de S. Paulo. Group Folha became one of Brazil's largest media conglomerates; Frias joined in 1981, was appointed CEO in 1989 and chairman in 1991.In 1996, Frias founded UOL, a pioneering Brazilian Internet company, and one of the most visited websites in the country. PagSeguro Digital is a subsidiary of UOL.