Archive for July, 2013

World Cup Billionaire Stirs Brazil Protests Over Stadiums

July 10, 2013

Cesar Mata Pires represents everything protesters in Brazil detest.

A file photo from 1990 shows OAS SA Chief Executive Officer Cesar Mata Pires. OAS’s construction arm accounts for three quarters of its business and Mata Pires’s 90 percent stake in the division is valued at $3.6 billion, according to data compiled by Bloomberg. Source: Artur Ikishima/Editora Abril via Bloomberg

When demonstrators across the country swarmed new World Cup soccer stadiums last month amid a haze of tear gas and rubber bullets, one placard punctuated their anger over the government’s decision to finance the arenas at the expense of taxpayers, which enriched a handful of well-connected tycoons while neglecting public services.

The sign, which said “The $ for Education Went to OAS,” took aim at the construction company owned by Mata Pires, which has emerged as one of the biggest winners in the building boom leading up to the World Cup and the 2016 Olympics. It also has made its 63-year-old chief executive a billionaire. (more…)