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Billionaire Profile
Luis Carlos Sarmiento
Global Rank
#283

Image: Yonatan Lds | CC BY-SA 3.0 | via Wikimedia Commons

Luis Carlos Sarmiento

CEO, Banking
Bogota, Colombia
Real-Time Net Worth
$11.9B
Estimated based on Banking stock value as of September 10, 2026
+0.09% (24h)
Age
93
Source
Banking
Industry
Finance Investments
Citizenship
Colombia

Biography

Luis Carlos Sarmiento Angulo, born in 1933, is a Colombian billionaire businessman primarily known for his banking empire. He is the majority shareholder and chairman of Grupo Aval, Colombia's largest financial conglomerate. Sarmiento's career began in construction before transitioning to finance, where he strategically acquired banks, eventually controlling a significant portion of Colombia's banking assets. His net worth is estimated at $9.6 billion as of March 2024, making him one of the wealthiest individuals in Latin America. He is known for his conservative management style and his philanthropic endeavors. He is married and has 5 children.

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Data Updated
Sep 10, 2026
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Wealth Over Time

Net Worth History

YearNet Worth
2026$11.9B
2025$10.0B
2024$9.60B

Portfolio Holdings

Banco Popular

Banco Popular

Not Available•Banking
Ownership
93.7%
Bogotá, Colombia
Not Available employees
Founded 1950
Banco AV Villas

Banco AV Villas

Not Available•Banking
Ownership
79.9%
Bogotá, Colombia
Not Available employees
Banco de Bogotá

Banco de Bogotá

Not Available•Banking
Ownership
68.9%
Bogotá, Colombia
Not Available employees
Founded 1870
Banco de Occidente

Banco de Occidente

Not Available•Banking
Ownership
72.3%
Cali, Colombia
Not Available employees
Founded 1965

In-Depth Profile

Early Life

Luis Carlos Sarmiento Angulo was born on January 27, 1933, in Bogotá, Colombia. He was born into a middle-class family. He demonstrated an aptitude for academics and graduated from the Colegio Mayor de San Bartolomé. He then pursued civil engineering at the National University of Colombia, graduating in 1954.

Rise to Success

Sarmiento started his career in construction in the 1950s, building residential and commercial developments. Recognizing opportunities in the financial sector, he transitioned into banking. He began acquiring stakes in financial institutions, including Banco de Bogotá in 1988. He founded Grupo Aval in 1994 as a holding company to consolidate his banking, telecommunications, and real estate interests.

Key Business Strategies

Sarmiento is known for his shrewd investments and conservative management style. He focused on strategic acquisitions to expand his financial empire. By 2000, he held an estimated 22% of local banking assets. His approach allowed him to navigate economic challenges, including the recession of the late 1990s. Grupo Aval's listing on the Colombian Stock Exchange in 1999 was a significant milestone.

Philanthropy

Sarmiento has been involved in philanthropy. He has donated to various causes, including supporting families affected by natural disasters and extending credit to micro-entrepreneurs. He also founded the Centro de Tratamiento e Investigación sobre Cáncer Luis Carlos Sarmiento Angulo, a non-profit dedicated to cancer care, research, and treatment.

Career Milestones

1950s

Began career in construction

Started building residential and commercial developments.

1970s

Acquisitions in banking

Initiated an acquisitions campaign focused on banks and financial service companies.

1994

Founded Grupo Aval

Founded Grupo Aval as a holding company for banking, telecommunications, and real estate interests.

2000

Grupo Aval CEO

Appointed Luis Carlos Sarmiento Gutierrez as CEO of Grupo Aval.

2024

Stepped down as CEO

Luis Carlos Sarmiento Gutierrez stepped down as CEO and became Chairman.

Philanthropy & Social Impact

Social Welfare

Donations for families

$XB

Donated apartments to families affected by natural disasters.

Microfinance

Grameen Bank Credit

$XB

Grupo Aval is extending credit to micro-entrepreneurs.

Healthcare

Centro de Tratamiento e Investigación sobre Cáncer

$XB

Founded a non-profit dedicated to comprehensive cancer care, research, and treatment.

Business Philosophy & Leadership

Notable Quotes

"Businesses themselves call for innovation, just like kites that start pulling on the string. You have to get them off the ground first, but then you need to loosen your grip so they can soar."

Leadership Principles

Conservative Management

Known for a cautious and prudent approach to business.

Strategic Acquisitions

Focused on acquiring financial institutions to expand the business empire.

Long-term vision

Maintained a long-term perspective to navigate economic fluctuations.

Controversies & Challenges

2023

FCPA Settlement

A U.S. settlement was made for $80 million over Foreign Corrupt Practices Act violations related to bribery in Colombia.

Billionaires Connected to Luis Carlos Sarmiento

Peers in Finance Investments

All Finance Investments billionaires →

Richest in Colombia

All billionaires from Colombia →

Adjacent Global Ranks

Full global ranking →

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Frequently Asked Questions

What is Luis Carlos Sarmiento's net worth in 2026?
As of 2026, Luis Carlos Sarmiento's estimated net worth is $11.886 billion, ranking #283 among the world's billionaires. The estimate is based on publicly available shareholding data and market prices, updated daily.
How did Luis Carlos Sarmiento make their money?
Luis Carlos Sarmiento's wealth primarily comes from Banking, most notably through Banking.
Where is Luis Carlos Sarmiento from?
Luis Carlos Sarmiento is from Colombia.
How old is Luis Carlos Sarmiento?
Luis Carlos Sarmiento is 93 years old.

Sources & References

  1. Luis Carlos Sarmiento — Forbes profile — Forbes