Américo Amorim, owner of the Amorim Group, Has Died

Washington, DC, July 18, 2017-Américo Amorim, owner of Corticeira Amorim and Amorim Group, died July 13 at the age of 82, according to The Washington Post.

Amorim-believed to be Portugal’s wealthiest man with a worth of $4.4 billion-headed the cork empire started by his grandfather in 1870, which today processes about one quarter of all the cork in the world.

“With plastic stoppers for wine bottles encroaching on his market, Mr. Amorim diversified cork uses into areas such as insulation and furniture and created a conglomerate, the Amorim Group, that expanded his business into wine production and tourism,” the publication reports.