Ownership of the company has changed to GPA with 43.3%, the Klein family with 27.3%, and minority shareholders with 29.3%. Three quarters of the amount raised went to the Klein family, while the rest went to GPA. Via Varejo raised R$ 2.845 billion through a public offering of shares. 53.7 million common shares of the family's stake began trading on December 16, 2013. In September 2013, Klein transferred 17.6 million of his shares of Via Varejo to his children, and as a result, his stake in the company has been reduced from 21.9% to 18%. In May 2013, it was announced that the Klein family, which owned 47% of Via Varejo, was planning to sell 16% of their stake in the company.
His son, Raphael Oscar Klein, has served as a Member of the Board of Directors of Via Varejo. In 2010, he was elected Chairman of the Board of Directors of Via Varejo. In 2009, Klein became CEO of the company after his father retired in Brazil. In 1969, he joined Casas Bahia as a Financial Manager. Klein graduated with a degree in Business Administration from Paes de Barros University, and completed his post-graduate studies at the Getulio Vargas Foundation. Career ventures Casas Bahia and Via Varejo In 2015, in its annual ranking of the wealthiest people in the world, Forbes listed Klein with a personal net worth of $1.3 billion. Since June 2019, the Klein family own a controlling stake in Via Varejo. Michael's father, Samuel Klein, founded Casas Bahia in 1952. He is the CEO of the Brazilian chain of department stores, Casas Bahia, and former Chairman of Via Varejo, the parent company of Casas Bahia, Cnova Brazil and Ponto Frio. Michael Klein (born 1951) is a Brazilian business executive.
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