Forbes unveils ‘Portugal’s 50 Richest’ list 2025, with Américo Amorim’s widow and daughters retaining top spot

The 2025 list of Portugal’s richest remains led by the Amorim family, which continues to hold a firm grip on the top of the country’s wealth rankings. Within Portugal’s Top 3, the Amorim matriarch and her daughters retain first place, with a fortune exceeding 5 billion euros, derived from Corticeira Amorim’s assets and their stake in Galp Energia. They are followed by the Soares dos Santos family, owners of the Jerónimo Martins group (Pingo Doce), in second, their wealth buoyed by the success of food retail in Portugal and Poland (Biedronka). In third, Vítor da Silva Ribeiro and his family, of the Alves Ribeiro group, have consolidated their position through substantial investments in construction, real estate, and Banco Invest. Even so, new names linked to technology and luxury property have emerged, though they continue to find it difficult to surpass the historic industrial dynasties in the Top 10.

Also according to Forbes, in 2025, Portugal’s 50 richest families collectively hold assets of around 47.7 billion euros, corresponding to about 16.5% of national GDP, which, in 2024, totalled 289.4 billion euros. The combined fortune increased by 2.7 billion euros, but the share of GDP remains the same as in 2024, since the economy also grew during this period.

The podium’s three places once again go to the same families, albeit with second and third having swapped. The 2025 ranking of the ’50 Richest in Portugal’ is led by the four Amorim women, Maria Fernanda, widow of Américo Amorim, and daughters Paula, Marta and Luísa, who are, moreover, the only Portuguese family present on the Forbes International list, in 562nd place worldwide, with a net worth of 5.84 billion euros.

Back in second place is the Soares dos Santos family, descendants of Alexandre Soares do Santos, the driving force behind the growth of Jerónimo Martins, a company founded by his grandfather Francisco Manuel dos Santos, which was worth around 12.89 billion euros on the stock exchange as of December 2 last year, with shares trading at 20.48 euros.

In third place is the Guimarães de Mello family, heirs to the businesses of José de Mello, grandson of industrialist Alfredo da Silva, founder of the CUF industrial complex. The group has also distinguished itself in areas such as infrastructure (Brisa) and the chemical industry. It owns 44 private healthcare units, including 12 hospitals and 18 clinics, and its industrial arm has been rebranded as Bondalti. The family holds a minority stake in the Rubicone consortium, owner of Brisa, and its fortune was valued at around 3.1 billion euros.

Paulo Azevedo and his family, linked to the Sonae group, continue to feature among the richest thanks to the group’s diversification across retail, telecommunications and real estate. Fernando Campos Oliveira, Visabeira’s main shareholder, has climbed up the list thanks to the group’s international expansion.

The fashion, beauty, and luxury sectors are represented by owners of global brands and by operators of premium retail and luxury shopping centres. Of the six leading names in this segment, economist José Neves, founder of the Farfetch platform, stands out; since 2024 he has devoted himself almost exclusively to the José Neves Foundation (FJN), where he became executive director to focus on education and the development of human potential in Portugal, overseeing investments of more than 3 million euros in scholarship and education programmes alone. Currently, the day-to-day management of Farfetch is handled by the executive team of the South Korean company Coupang, led by its founder, Bom Kim.

Despite the financial instability of recent years, José Neves remains Portugal’s central figure in luxury technology. However, the value of his personal assets and investments outside Farfetch no longer meets the threshold to be ranked among the top 50 richest people by Forbes Portugal in 2025.

The aforementioned Amorim family, which tops the ranking, is, in addition to its roles in cork and energy, a key player in Portugal’s luxury market through Amorim Luxury, managed by Paula Amorim, which owns the Fashion Clinic group and the Gucci franchise in Portugal, as well as JNcQUOI (Avenida and Club), which sets the benchmark for luxury dining and retail in Lisbon.

The Azevedo family, which, through Sonae Sierra, controls the physical spaces where luxury and beauty operate at scale, also owns Wells, which has become Portugal’s largest beauty and wellness operator, including selective cosmetics brands. The Azevedos manage centres such as Colombo and NorteShopping, which house leading international luxury maisons. The Azevedo family’s assets rose by around one billion euros over the past year and are currently estimated at more than 2.1 billion euros.

In turn, the Guimarães de Mello family, whose main focus is health and infrastructure, operates indirectly in the luxury sector through high-end property and lifestyle investments, maintaining partnerships that underpin Portugal’s premium consumer ecosystem.

The chairperson of Grupo Pestana, Dionísio Pestana, in the ‘experiential luxury’ segment, dominates high-end hospitality with the Pestana CR7 brand and the Pousadas de Portugal, which are instrumental in attracting luxury tourism that also drives spending on fashion and beauty. His assets are valued at approximately 965 million euros.

Finally, businessman and pilot Miguel Paes do Amaral, who, through various investments, has been linked to prestige and lifestyle brands, maintains a significant presence in high-end consumption. Paes do Amaral no longer features on Forbes Portugal’s list of the 50 richest Portuguese, which currently requires a minimum net worth of roughly 250-300 million euros to enter the ranking. His wealth is diversified across several areas through his holding, with an emphasis on luxury property, the publisher LeYa, where he is a shareholder, and investments in technology and lifestyle.