NEWSMAKER: The retail tycoon spent much of his life running—and expanding— supermarket chain Grupo Pão de Açúcar, which his father started with a single bakery. After French retailer Casino increased its stake in 2011, Diniz clashed with the French owners. He eventually sold his Pão de Açúcar shares and in 2014 invested in French superstore firm (and Casino competitor) Groupe Carrefour’s Brazil arm, joining the board. In July, Carrefour Brasil, also known as Atacadão, completed an IPO, raising nearly $1.6 billion. Diniz is one of the largest shareholders, with about 8%.