Alberto Benavides and his family have seen their 28 percent voting stake in Cia. de Minas Buenaventura SA, Peru’s biggest producer of precious metals, jump five-fold in a decade to $2.7 billion. Today Benavides, 91, owns $1.2 billion of the company’s stock after giving the rest in equal parts to his five children last year.
Based on an analysis of dividends, local taxes and market performance, the Benavides family probably has an investment portfolio worth at least $250 million. “We’re people who have no interest in ostentation or luxury,” Roque Benavides, who has led the company since his father retired, said in an e-mail.“We’re working people whose goal is to contribute to the social development of Peru.”
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