Native to Chili, Piero Solari Donaggio received his net worth from his family. His ancestor, Salvatore Falabella, first began a tailor shop in 1889. By the 1930s, descendants in the family had started to expand from a simple tailor shop to a nationwide department store. Currently, SACI Falabella is the largest retail store in Chile.
It also has operations in Argentina, Peru and Colombia. With over 80,000 employees, SACI Falabella employs an impressive number of people in Latin America. As a part of the Solari family, Piero Solari Donaggio earned his net worth through inheritance. He possesses an accumulated net worth around $3.1 billion and his holdings continue to grow with the company.
SACI Falabella recently announced that it would invest an additional $3.92 billion into the company between 2013 to 2017. these investments will likely pay off well for the Solari family and help Piero Solari Donaggio to increase his personal wealth. Piero Solari Donaggio is related to the family through his parents.
His uncle, Alberto Solari, was the leader of the of SACI Falabella during the 1930s. Under his guidance, the family business transformed from a basic operation to an international corporation. Piero Solari Donaggio carries on this work with the help of his family.