For some weird reason, Mexico’s elite hasn’t been performing as well financially as its middle class. Since 2012, most of the Mexican dollar billionaires have suffered a significant reduction in their net worth. Mexico’s economy has suffered some setbacks due to the general global economic slowdown. The funny thing is how illegitimate Mexican dollars billionaires have racked up plenty of wealth since 2012 through violent drug trafficking. However, just like El Chapo finally lost his freedom, most of the drugs dealing tycoons are losing everything. The legitimate billionaires are seemingly coming back to financial growth. It is pretty fair to assume that they deserve it. They’ve held up Mexico’s economy during its bad times, and they deserve some more financial reward. The following are ten of Mexico’s richest men in 2019.
10. Carlos Hank Rhon - $2.1 billion
This tycoon is 71, and he has done his share of good work. He successfully pursued an engineering degree from the Universidad National Autonoma de Mexico. He had a good foundation that was deeply anchored in his father’s successful political career. Carlos Hank Gonzalez was mayor, cabinet secretary and governor at the highlights of his career. He set up his son, Carlos Hank Rhon, with an excellent education, powerful connections, and a generous capital base. Now, Carlos Hank Rhon is worth 2.1 billion dollars. The engineer ventured into banking, tourism, energy, infrastructure, and auto dealerships. He manages that entire portfolio under Grupo Hermes. Carlos even got himself another billionaire’s daughter for a wife.
9. Emilio Azcarraga Jean - $3.1 billion
This 50-year old billionaire successfully pursued a Bachelor’s degree in Industrial Relations from Iberoamericana University. His excellent managerial and administrative skills were further sharpened at Business Institute of Madrid where he earned a Master’s degree. He is fortunate enough to be the son of a rich man, Emilio Acarraga Vidaurrieta, who founded Televisa. The television company was already the biggest in Mexico before Jean took it over, and he’s had plenty of time to rack up his net worth over the years. He is now worth 3.1 billion dollars.
8. Antonio Del Valle Ruiz - $3.7 billion
This 80-year old Mexican is a self-made billionaire. He was not the son of a rich man, and he hustled hard to reach his status. He had to spend years climbing the corporate ladder of employees in the financial services sector. He served as CEO of several banks for more than three and a half decades. He then started founding different companies in different verticals and served as their president. Some of his most profitable companies include:
- Grupo Emresazial Kaluz.
- Grupo Financiero Bital.
Antonio’s most profitable financial move was selling his stakes at different banks to buy controlling shares at Mexichem. The chemical industrial power is now under the able control of his children as Antonio enjoys his retirement blissfully. He is worth 3.7 billion dollars.
7. Jeronimo Arango - $4.3 billion
At the age of 32 years, Arango did not know he could be Mexico’s seventh-richest person. However, he had acquired enough prerequisite learning and attitude adjustment. He started a successful supermarket chain with his younger brothers at the age of 33 years. The supermarket chain, Aurrera, changed the brothers’ lives entirely. They didn’t stop there; they started acquiring other retailing franchises under the family company banner: CIFRA. Some of their well-performing brands include El Porton, VIPs, Suburbia, Superama. Arango even bought into Walmart. For him, anything retail goes, and his 4.3 billion dollars is from different industries, including fashion, supermarkets, and restaurants.
6. Maria Asuncion Aramburuzabala - $5.5 billion
Maria was born in 1963, is extremely rich, and she is gorgeous even at her age. She successfully pursued a Bachelor’s degree in Arts and Science. She was fortunate enough to inherit a generous net worth from her rich father, who left her ownership in the flourishing beer industry. She, her mother and sister sold beer giant Grupo Modelo for 20 billion dollars. After that, Maria got a lucrative job serving as Anheuser-Busch InBev’s board member. They relied on her to take her formerly family business to greater heights, and she did. She also provided leadership to giant investment firm Tresalia Capital.
5. Eva Gonda de Rivera - $6.8 billion
Eva is one of the few Mexican billionaires who’ve increased their net worths since 2012. Back then, she was worth $6.5 billion, but she is now worth $6.8 billion. However, she is not self-made; she inherited stakes in FEMSA. Her husband is the one who owned a 27 percent stake in FEMSA, and Eva now manages the beverage company with the help of her son-in-law, who acts as the company CEO. Eva was priceless to the late Eugenio Gara LAguera because of her insights and counsel. She successfully pursued a Bachelor’s degree in Arts and Science, just like the second richest woman in Mexico, Maria Aramburuzabala.
4. Ricardo Salinas Pliego - $7.8 billion
Ricardo is popularly known as the billionaire who trumped Trump by moving a massive golfing tournament from Trump’s real estate and into Mexico. He was worth $9.9 billion in 2012, but that wealth since plummeted to $7.8 billion. He owns Grupo Salinas and Grupo Elektra. Just like the two richest women in Mexico, he holds a Bachelor’s degree in Arts and Science. His business acumen is exemplary, but an underperforming Mexican economy has hindered his financial growth. Reluctant Mexican consumers in his banking and retail ventures resulted in fewer sales and loans. His media and telecommunications business is doing great though.
3. Alberto Bailleres - $9.9 billion
This billionaire, and his father, is responsible for some of Mexico’s biggest economic gains. His father started the family mining empire, and Alberto steered it into mega profitability and growth. Peñoles is now the second biggest mining venture in Mexico. He studied economics at the Instituto Tecnologico Autonoma de Mexico. His father died early, and he took over the company at only 28 years of age. Fortunately, he was already familiar with the business. He also steers insurance covers and pension funds. His networth dropped from $16.5 billion in 2012 to $9.9 billion due to the decline of metal prices in a slowed down global economy.
2. German Larrea Mota Velasco - $12.8 billion
This is another Mexican billionaire who’s made his fortune in the mining industry. He owns majority shares of Grupo Mexico and has made the final decisions for it since 1994. He was worth $16.7 billion in 2012, but is now worth $12.8 billion because copper prices went down for the past few years.
1. Carlos Slim Helu - $56.9 billion
This billionaire was recently richer than everyone else on earth, and he is now the third richest person globally. He is richer than all the other Mexicans by a long shot. He came out of the richest man alive slot in 2013, after 3 years, because of Mexican regulation revisions. At the time, he owned 80% share of the landline and controlled 70% share of the mobile market. He was forced to sell assets in both markets after the government made it illegal for any company to own more than 50 percent of the share market in any of those two markets. Carlos holds a Bachelor’s degree in Science and Arts. He taught algebra in a Mexican University before going into the telecom business. When he started his entrepreneurial drive, he benefited from his father’s lessons in accounting, finance and management. He is now the proud owner of America Movil and 17 percent of the New York Times.
Written by Bill Vix
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