Hartford Business Journal

19 HARTFORDBUSINESS.COM | JUNE 28 2021 G reenwich resident Alexandre Behring has a healthy appetite for food and beverage companies. The Brazilian- born Behring is the co-founder, co-managing partner, and investment committee member at 3G Capital Partners Ltd., a private equity firm with reportedly $26.5 billion in assets under management. Under his leadership, 3G, through its interest in Restaurant Brands International Inc. (RBI), acquired Burger King in Oct. 2010 and, in Dec. 2014, Burger King bought Tim Hortons. Burger King ranks as one of the world's largest fast-food hamburger chains, while Tim Hortons is one of the largest restaurant chains in North America and claims to be the largest in Canada. RBI also owns Popeyes Louisiana Kitchen, said to be the world's largest quick-service restaurant chicken concept. In 2013, 3G and Berkshire Hathaway acquired Heinz, and in July 2015, 3G Capital and Berkshire completed the combination of H.J. Heinz Co. and Kraft Foods Group, forming the Kraft Heinz Co. Behring personally takes a long- term investment view. Cohen. The 64-year-old Greenwich resident is not only CEO and founder of Point72, a hedge fund with about $20 billion of assets under management, he also purchased the iconic New York Mets in 2020, and is "working on revamping the team's operations with aspirations of transforming the Mets into a perennial World Series contender." After steering his fund through the ups and downs of the COVID- sparked turmoil of 2020, Cohen — whose net worth is estimated at $16 billion, according to Forbes — is reportedly cautious about a rebound. "Markets don't come back in a straight line; after an earthquake there are tremors," he wrote in an internal memo obtained by the Reuters news service. "We need to continue to be disciplined. We are seeing plenty of opportunities to generate returns, but I don't want us taking undue risks." Fun fact: In addition to his 35,000-square-foot Greenwich estate, Cohen reportedly owns a vacation estate in tony East Hampton, N.Y., just down the street from comedian Jerry Seinfeld. 3. Alexandre Behring Co-founder and Managing Partner 3G Capital, New York Net Worth: $7.5 billion WEALTHIEST PEOPLE IN CT 1. Ray Dalio Founder Bridgewater Associates, Westport Net Worth: $20.3 billion R ay Dalio's doing something right. The founder, chairman and co-chief investment officer of Bridgewater Associates — which has been described as the world's largest hedge fund — reportedly has a personal net worth of about $20.3 billion, according to Forbes Magazine. But 71-year-old Dalio, a Greenwich resident, admits that even he gets some things wrong. Perhaps his biggest mistake "occurred in 1981–'82, when I became convinced that the U.S. economy was about to fall into a depression," Dalio told Institutional Investor in a 2015 interview. "My research had led me to believe that, with the Federal Reserve's tight money policy and lots of debt outstanding, there would be a global wave of debt defaults, and if the Fed tried to handle it by printing money, inflation would accelerate. Boy, was I wrong. What I'd considered improbable was exactly what happened: Fed Chairman Paul Volcker's move to lower interest rates and make money and credit available helped jump-start a bull market in stocks … ." But he was smart enough to walk away with an important lesson: to always fear "being wrong, no matter how confident I am that I'm right. As a result, I began seeking out the smartest people I could find who disagreed with me so that I could understand their reasoning." Almost 40 years later the prolific investor (he's the author of The New York Times No. 1 bestseller "Principles, and Principles for Navigating Big Debt Crises") is still at it. Besides his investment and philanthropic work, Dalio says he's currently working on his third book, which will outline his investment principles. 2. Steve Cohen Founder Point72 Asset Management, Stamford Net Worth: $16 billion W hen most people sing, "Take me out to the ballgame," it's a safe bet they're not thinking about hedge funds. Unless, that is, they're Steve Bill Schaeneman First Vice President - Investment Officer for being named Premier Advisor At Wells Fargo Advisors, we recognize the importance of excellent service and trusted investment advice. Contact us to learn more about our focus on helping clients achieve their financial goals. William F. Schaeneman, Jr., CRPS® Financial Advisor First Vice President - Investment Officer 180 Glastonbury Blvd, Floor 01 Glastonbury, CT 06033-4439 Direct: 860-368-6927 bill.schaenemanjr.@wellsfargoadvisors.com Premier advisor is a distinction held by a select group of Financial Advisors within Wells Fargo Advisors as measured by completion of educational components, business production based on either of the past two years, and professionalism. Additional criteria including length of service, may also be used to determine recipients. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. © 2020 Wells Fargo Clearing Services, LLC. All rights reserved.  CAR-0321-00866 5290982a NOT FDIC Insured NO Bank Guarantee MAY Lose Value Investment and Insurance Products: At Wells Fargo Advisors, we recognize the importance of excellent service and trusted investment advice. Contact us to learn more about our focus on helping clients achieve their financial goals. We are pleased to announce Bill Schaeneman First Vice President - Investment Officer for being named Premier Advisor William F. Schaeneman, Jr., CRPS® Financial Advisor First Vice President - Investment Officer 180 Glastonbury Blvd, Floor 01 Glastonbury, CT 06033-4439 Direct: 860-368-6927 bill.schaenemanjr@wellsfargoadvisors.com Premier Advisor is a distinction held by a select group of Financial Advisors within Wells Fargo Advisors as measured by completion of educational components, business production based on either of the past two years, and professionalism. Additional criteria, including length of service, may also be used to determine recipients. We are pleased to announce W hen Hartford Business Journal decided to profile the wealthiest Connecticut residents, one obvious question involved deciding a net worth cutoff. Perhaps it says something about the times that, to keep the list from becoming unwieldy, we had to set the lower limit at $1 billion. This feature is more than just a list, however. Just as each issue of HBJ offers information that business owners, leaders and others can use, the Wealthiest list also contains useful information. In capsule form, it presents a view of the American wealth creation system. A sizable percentage of Connecticut's billionaires didn't start out with a boatload of money, and many channeled an entrepreneurial drive to build their fortune. That mirrors a national report that the U.S. Trust Co. (which now operates as Bank of America Private Bank) previously issued, which found that, "Their advantage in life is not rare financial privilege but rather basic values, discipline and sense of potential shaped by family from an early age, which equipped them to make the most of every opportunity." In other words, they created and sustained wealth by innovating and adapting. That's a good strategy for any kind of business, regardless of size or wealth. Martin Daks Special to the Hartford Business Journal Why we've chronicled the state's wealthiest individuals

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