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Luisa Trajano lost more than R$1 billion after shares of Luisa Magazine (MGLU3) plunged 22% in one day, erasing last year’s gains.

Luisa Trajano He has barely warmed up to his newly won place on the Forbes list of billionaires and he could already be on his way out again after the actions of Louisa’s Journal (MGLU3) I landed on B3 and in one day erased all the gains they had been making for the past year.

The businesswoman, who is the chairman of the retailer’s board of directors, officially returned to the Forbes ranking a week ago. Trajano owns just over 17% of the company and its returns followed the good performance of MGLU3 shares, which as of yesterday were up just over 20% in 12 months.

But that all changed with the disclosure of the company’s first-quarter balance sheet, which showed a surprisingly deteriorating net loss. The gap reached R$ 391.2 million, which is a larger number than the negative figure of R$ 161.3 million calculated in the same period last year.

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As a result, Magazine Luiza shares fell by 22.83% on Tuesday (16), to R$3.38, and caused a decline of US$226 million (about R$1.1 billion, at current prices.) in the assets of Luisa Trajano.

According to Forbes calculations, now the businesswoman has a fortune of 936 million US dollars (4.59 billion Brazilian reals) and is almost at the bottom of the ranking, taking 2623rd place.

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Luisa Trajano net worth and Luisa Magazine (MGLU3)

Despite being considered one of the most influential women by Financial timesthe CEO had a sort of “coat on, coat off” sort of thing regarding staying on the magazine’s billionaires list. Forbes.

This is because as Magazine Luiza shares plunged last year, Trajano left the wealthy group in June 2022, only to return in February of this year.

Since then, Dona Luisa’s fortune has fluctuated along with the ups and downs of shares in Ibovespa, making the president “ineligible” for the billionaires ranking until the beginning of May.

It is also worth noting that Trajan is still far from the pinnacle of his wealth. according to Forbesthe business woman’s financial summit was recorded in July 2021. At that time, her wealth was 5.6 billion US dollars.