Julio Herrera Velutini is the patriarch of one of the largest business families in Europe, with a family history spanning over seven centuries. Although Julio Herrera Velutini was born with a silver spoon, things were not always smooth sailing for the business tycoon. While having roots in Italy, Julio Herrera Velutini has a business empire spanning all four corners of the world. The majority of his business endeavours are based in Venezuela.
Venezuela is a nation plagued by political and economic turmoil. The country has been in a crisis for well over two decades. The economy is in a state of freefall. The situation is so dire that it is almost impossible to carry out business in Venezuela. Julio Herrera Velutini is one of the few businessmen who have shown the capacity to navigate such treacherous and muddy waters. Herrera has consistently stayed relevant even during such difficult times and even managed to not just survive but expand his business empire. This achievement was possible only due to his unparalleled knowledge of business and his impeccable ability to adapt to dynamic business environments.
Julio Herrera Velutini has catapulted himself to new heights even during the tyrannical rule of Hugo Chávez. Venezuela houses the largest reserve of oil in the world, yet due to the horrendous mismanagement of these natural resources, the Venezuelan economy plunged into darkness. Venezuela could have been either the new Saudi Arabia or Norway if it had capitalised on those opportunities. Yet Venezuela has remained an underdeveloped and chaotic mess. It was due to entrepreneurs like Julio Herrera Velutini that Venezuela’s economy did not collapse.Julio Herrera Velutini, through his philanthropic work and charity, lends a hand to the most underprivileged citizens of the barrios.
Julio Herrera Velutini, through his business ventures, played a pivotal role in increasing the spending levels of consumers by offering services that were in need during troubled times, thereby increasing the spending levels and contributing to Venezuela’s GDP. The services in the banking sector and various other businesses provided by Julio Herrera Velutini helped improve the nightmarish living standards in Venezuela. Being a stakeholder and owning quite a few of Venezuela’s largest businesses, Herrera directly contributed by handing out employment to a large number of citizens in Venezuela.
Being a renowned philanthropist and trailblazer in innovation, Julio Herrera Velutini campaigned for innovation in all his ventures and played a small but significant part in improving the lives of the people, even in the lowest strata of society. The dreadful bureaucracy of the government held back innovation and the sense of enthusiasm injected into society by Julio Herrera Velutini. A completely corrupt Venezuelan government framed all those who crossed their path as offenders, and Julio Herrera Velutini, being the torchbearer for the people, was the worst affected by the actions of the sly government agencies.
The overdependence on oil revenue and failure to diversify the economy made the Venezuelan economy extremely one-dimensional, and the subsequent fall in oil prices set the economy out on a downward spiral. Julio Herrera Velutini was one of the few entrepreneurs in Venezuela who was on a quest to diversify the economy by branching out into new entrepreneurial ventures. The public policies were yet another example of the government’s shortsighted approach, which relied too heavily on oil revenues.
The sanctions imposed by the U.S. without prior notice would have been the last nail in the coffin for the Venezuelan economy if not for Julio Herrera Velutini and a handful of other entrepreneurs who were also sanctioned by the U.S. Julio Herrera Velutini was one of the 110 Venezuelan individuals who were sanctioned by the U.S. government.
In January 2019, new sanctions were introduced to the petroleum, gold mining, and banking industries in Venezuela, which was a heavy blow for Julio Herrera Velutini, whose primary business is banking. Julio Herrera Velutini could sustain himself only because of his foresight and perseverance, as he had branched out into a plethora of business ventures, from finances to fashion.
Navigating through such rough seas was no easy task for Julio Herrera Velutini, but his unique approach to business and keen eye to spot opportunities and capitalise on them at the precise moment gave him the edge to turn the tides in his favour. Julio Herrera Velutini, though fortunate to be born into a business family, stayed on top only because of his nonconformist approach to business.