Lorenzo Mendoza is a Venezuelan engineer and businessman born on October 5, 1965, in Caracas. He is one of the key figures behind Empresas Polar, a major company in the food and beverage sector. His investments and business ventures have positioned him as one of the wealthiest individuals in Venezuela.
Mendoza is the father of six children, and his background is deeply rooted in family entrepreneurship, with both his grandfather and parents playing central roles in building the business. He studied in the United States and eventually became the CEO of Empresas Polar.
Early life: education, graduation, and first steps in business
After completing high school in Caracas, Mendoza moved to the United States, specifically New York, to pursue higher education and later specialize in business administration.
By the age of 27, he had completed his studies, but that same year marked a turning point in his life. Following the death of his father, Lorenzo immediately stepped into the role of CEO of the family business.
The Venezuelan entrepreneur had earned a degree in industrial engineering and later completed a Master’s in Business Administration. With this foundation, he took over the business started by his grandfather decades earlier.
How Empresas Polar was founded
Although now widely known as Empresas Polar, the company originally began as Cervecería Polar. The Mendoza family business was founded by Lorenzo’s grandfather, Alejandro, who first entered the soap industry before shifting to beer production.
By the late 1940s, Alejandro’s son Juan—Lorenzo’s father—joined the company. During that time, sales were strong, and the company expanded across various regions of the country.
Juan and his father introduced additional services and added food products to the company’s offerings. At the time, Lorenzo was still in school while the family business continued to grow. After Alejandro’s death, Juan’s brother, a medical doctor, temporarily took over the business.
By 1990, shortly before Lorenzo’s unexpected promotion, the company officially changed its name to Empresas Polar, beginning a new era.
Lorenzo Mendoza as CEO of Empresas Polar
From the moment Mendoza became CEO, the company evolved significantly while retaining its core identity. He focused the company’s growth on soft drinks and acquired several major beverage brands in Venezuela.
By the late 1990s, Empresas Polar had formed a partnership with PepsiCo, launching a Venezuelan beverage under the global brand. The company also expanded operations into neighboring countries such as Colombia.
This strategic alliance—a common business and marketing concept—allowed Empresas Polar to merge with or acquire smaller companies previously absorbed by PepsiCo.
One of the most telling metrics of Mendoza’s leadership is the increase in company revenue, which rose from 2,000,000 to 6,000,000 units during his tenure, along with innovations across multiple sectors.
The food sector became a central pillar of expansion, allowing the company to scale its brand across Venezuela and internationally. During this period, Mendoza also founded a Sports Center under the Polar umbrella to promote youth athletics.
He became a prominent figure in Venezuelan sports, securing sponsorship deals for the national baseball league and several of its teams, as well as becoming involved in the local football scene.
In summary, Empresas Polar is a large business conglomerate that now includes several subdivisions. Cervecería Polar continues to operate, serving as a tribute to Mendoza’s grandfather.
Alimentos Polar is another key division—perhaps the most significant—responsible for products like rice, flour, and oils.
PepsiCo Venezuela emerged as the company’s beverage arm following the strategic alliance with one of the world’s largest corporations.
Lorenzo Mendoza and politics?
Outside the scope of Empresas Polar—but still connected—is the topic of Mendoza’s potential political future. Although he has received widespread public support, he has consistently denied any interest in running for public office.
Despite the public’s encouragement, the engineer has made it clear that he prefers to focus on his business ventures and family life.
As of today, Lorenzo Mendoza is considered the third richest person in Venezuela. Since becoming CEO of Empresas Polar, he has modernized the company’s image and opened new pathways into emerging sectors.
He has been featured in Forbes magazine, which tracks global wealth and influence, ranking around the 600th position among the world’s richest individuals and appearing on other lists of the most influential figures in South America.