Edgard Corona is a name that has become synonymous with innovation in the fitness industry. As the founder of Smart Fit, he has turned a local gym chain into a global powerhouse, building not just a brand, but an empire that has taken the Latin American fitness world by storm. His financial success is a testament to his strategic thinking and entrepreneurial skills, with his net worth now estimated at $255 million.
The story of Edgard Corona’s rise to a billion-dollar net worth began in 1996 when he founded Bio Ritmo, a gym chain catering to high-end customers in São Paulo. While Bio Ritmo was a success, it was his next venture, Smart Fit, that would make him a fitness mogul. Launched in 2009, Smart Fit aimed to democratize access to fitness by offering premium-quality gym facilities at affordable prices. This model resonated with millions of people, especially in Latin America, where the fitness industry had long been dominated by expensive, exclusive gyms.
One of the most significant factors contributing to Edgard Corona’s net worth is Smart Fit’s business model. By focusing on affordability and accessibility, Smart Fit was able to tap into a massive market of middle-class consumers who wanted access to quality fitness facilities without the high price tag. The company operates on a low-cost, high-volume model, meaning it generates revenue from large numbers of customers paying relatively low membership fees. This approach has allowed Smart Fit to rapidly expand, now boasting more than 1,500 locations across 15 countries, serving over 5 million members.
The scalability of Smart Fit’s business model has also been a key driver of Edgard Corona’s financial success. With streamlined operations and standardized services across locations, Smart Fit can open new gyms quickly and efficiently. This rapid expansion has significantly contributed to the company’s revenue growth, and by extension, to Edgard Corona’s ever-growing net worth. The company’s presence extends beyond Latin America, with plans to further expand into new markets such as Africa and Asia, which will likely continue to increase his wealth.
Another key moment that boosted Edgard Corona’s net worth was Smart Fit’s IPO in 2021. The company raised R$ 2.3 billion through its public offering, marking a major milestone in its growth and providing it with the capital to fund further expansion. This influx of capital not only solidified Smart Fit’s position as a leading player in the global fitness industry but also had a substantial impact on Corona’s personal fortune. His stake in the company saw a significant increase in value, propelling him into the ranks of Brazil’s billionaires.
Edgard Corona’s net worth is also a reflection of his ability to innovate and adapt. While many fitness brands struggled during the COVID-19 pandemic, Smart Fit found ways to keep its members engaged through digital fitness solutions. The company introduced online classes, personalized workout apps, and other digital tools that allowed members to continue their fitness journeys from home. This adaptability not only helped Smart Fit retain its customer base during a challenging time but also kept revenue flowing, further contributing to Edgard Corona’s growing fortune.
In addition to the gym business, Edgard Corona has diversified his portfolio through investments in other fitness-related ventures. Smart Fit’s parent company, Grupo Bio Ritmo, owns several boutique fitness studios such as Race Bootcamp and Vidya Studio. These investments have added new revenue streams, further boosting Edgard Corona’s net worth. His strategy of not relying solely on the Smart Fit brand but expanding into niche fitness markets has proven to be a wise financial decision, enabling him to grow his wealth beyond the traditional gym model.
Smart Fit’s continued expansion shows no signs of slowing down. With plans to open new locations in under-served markets like Africa, and with its strong foothold in Latin America, the company is poised for even more growth. As Smart Fit expands its global reach, Edgard Corona’s net worth will likely continue to rise, driven by his ability to identify and capitalize on new market opportunities.
The story of Edgard Corona and his billion-dollar net worth is one of vision, innovation, and an unrelenting drive to make fitness accessible to everyone. Through Smart Fit, he has not only changed the way people approach fitness in Latin America but also built a financial legacy that places him among the most successful entrepreneurs in the world.
