Emanuele (Lino) Saputo – Billionaire

Emanuele (Lino) Saputo, who has chaired the eponymous family dairy company since 1969, announced that he will retire at age 80 in August 2017. His son, Lino Jr., who has served as president and CEO since 2004, will succeed him. The elder Saputo’s father, Giuseppe, started the business in 1954, using a bicycle for deliveries, after emigrating to Canada from Sicily. The company grew over the next decades, and Lino took it public in 1997. Saputo Inc. makes $8.4 billion in revenues annually selling cheese and other milk products in more than 40 countries. It has more than 12,500 employees and is continuing to grow through acquisitions. The Saputo family also has stakes in transportation and logistics firm TFI International, Major League Soccer’s Montreal Impact and several large real estate projects in Montreal. Lino maintains hundreds of antique cars and oversees an automobile enthusiasts’ club.