Some four decades later, he succeeded his father as the company’s CEO. In a late 2013 public offering, Via Varejo raised $1.2 billion. Actually, it was named the second-largest IPO in Brazil last year as the company was valued at $12.9 billion and offered the Klein family a way to cash out amidst a dispute with their partners. Thus, Michael became the biggest sole shareholder with a 10% stake. Married with four children, Klein’s older daughter, Natalie Klein, serves as the owner of NK Store, one of the most exclusive department stores in Brazil.