Venezuela Magnate Ruperti Cruises to Fortune

Venezuela Magnate Ruperti Cruises to Fortune

Europe

by Andy Webb-Vidal Venezuelan businesses have suffered upheaval over the past decade as President Hugo Chávez’s blueprint for revolutionizing Latin America’s biggest oil-exporter clashes with the private sector. But some have made fortunes. In just five years, Wilmer Ruperti has used sophisticated financial engineering to deftly expand his shipping fleet from one small vessel to 19 ships with a total deadweight tonnage of about a million tons, including two super-tankers. But if his fleet has grown impressively to become worth about $1.4 billion today, that is not enough for Ruperti, who is preparing to raise $1 billion in private equity in the next few months through a rever

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