Billionaire Factory: WEG, a global giant manufacturer of turbines and electric motors, has 29 shareholders with individual fortunes totaling R$60 billion!

The incredible story of WEG, one of the largest manufacturers of turbines and electric motors in the world, begins with three determined mens in a small town in the interior of Santa Catarina. Werner Egon, Geraldo and Egon da Silva, united by their skills and passion for electricity, decided to join forces to meet a growing demand for electric motors in the region.

In 1961, they founded the Jaraguá Electromotors, a small factory that would soon become known by the name WEG – the initials of its founders. Starting from an initial production of just five engines per week, these entrepreneurs overcame challenges such as the lack of qualified labor and competition from imported products to make their company prosper.

The incredible story of the Brazilian giant WEG that conquered the world

In addition to electric motors, WEG diversified its businesses:

WEG didn't take long to grow. In 1964, the company built its first headquarters and, in the following years, expanded its product line and markets. In addition to electric motors, WEG diversified its business, opening divisions for electronic equipment, power generation and transmission, paints and much more.

The verticalization strategy, in which the company began to produce most of the necessary components internally, was fundamental to its success. This allowed WEG to have greater control over its production chain and offer complete solutions to its customers.

In the 1990s, WEG began its international expansion, opening branches in the United States, Europe and other key markets. This internationalization, combined with the diversification of products and services, drove the company's exponential growth in the following decades.

A Factory of Billionaires: the company ended 2022 with a net profit of R$4,2 billion, an increase of 17,3% compared to the previous year.

WEG’s financial success is so impressive that the company became known as Brazil’s “billionaire factory”. According to lForbes survey, WEG has 29 shareholders with individual fortunes ranging from R$1,2 billion to R$4 billion, totaling R$60 billion.

This wealth is generated by WEG's different business fronts, which include industrial electronic equipment, power generation and transmission, commercial engines and paints. The company ended 2022 with a net profit of R$4,2 billion, an increase of 17,3% compared to the previous year.

WEG has invested heavily in renewable energy, artificial intelligence and electric mobility.

Throughout its history, WEG has maintained its focus on bringing innovations to the market. In recent years, the company has invested heavily in sectors such as renewable energy, artificial intelligence and electric mobility. Recently, WEG signed contracts to supply chargers for electric cars from brands such as Volvo and Renault.

Furthermore, the global manufacturer of turbines and electric motors, WEG, has sought increasingly sustainable solutions, aligned with market trends and the needs of the planet. Its commitment to innovation and sustainability is one of the pillars that support its growth and leadership in the electrical and electronic equipment sector.

An Inspiring Success Story: from a small electric motor factory to a multinational giant

WEG's trajectory, from a small electric motor factory to a multinational giant, is a story of determination, innovation and overcoming. The three founders, Werner Egon, Geraldo and Egon da Silva, transformed a market opportunity into a source of wealth and inspiration for thousands of Brazilians.

Today, WEG is one of the largest and most successful manufacturers of electric turbines and motors in the world and in the country, with a global presence and a diverse line of products and services. Its ability to reinvent itself, invest in new technologies and meet market demands keeps it constantly evolving, confirming its status as a true Brazilian industrial powerhouse.

I'd love to know if you already knew this incredible Brazilian multinational. Tell us in the comments section what you think of WEG. Don't forget to turn on CPG notifications to keep up with all the latest industry news. To the next!