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Thursday, April 18, 2024

Top 5 Richest Mexicans

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Magzica have always strived to cover billionaires all around the globe and Mexico is no far from it. In this article, we will discover about top 5 richest Mexicans in America.

Mexico has produced its fair share of billionaires. We will be going through one-by-one about their net worth, business they are in, and their wealth rankings in Mexico along with their global ranking. However, Covid-19 pandamic has taken tolls on Mexican billionaires likewise it has impacted other billionaires in the world.

Key Takeaways

  • Mexico is on number 14th of the world’s billionaires, as estimated in U.S. dollars.
  • Most of the billionaires reinvested their wealth in several verticals which helped them grow.
  • Talking about the richest Mexican, its Carlos Slim who made a net worth of $62 billion through his telecommunication business.
  • Other were able to dig their wealth through mining, technology or through real estate.

Mexico has produced its fair share of billionaires. Here are that country’s top five wealthiest individuals, along with itemized descriptions of their net worth, their wealth rankings in Mexico, their global wealth rankings, plus descriptions of the sectors in which they have built their amazing fortune.

Carlos Slim Helu

Net Worth: $62.7 billion

Wealth ranking in Mexico: 11

Global Wealth ranking: 16

Vertical focused: Telecommunications

Carlos is the owner of America Movil (AMX), which has its footprints in 25 countries and is expanding month by month.

The company once ruled 81% share of landline market and 72% share of the mobile market in Mexico. This urge the Mexican law to forbid companies from creating a straight monopoly in the market and was not allowed to monopolize more than 50% of wither subsector.

The company was also fined for $127 million for violating the anti-trust laws. However, his Carlos’ losses were considerably minor than the other richest Mexicans suffered from different governmental issues at the same time. However, despite that much of wealth, Slim lives a relatively thrifty lifestyle; he’s lived in the same five-bedroom house for more than 40 years now.

2. German Larrea Mota Velasco

Net Worth: $25.4 billion

Wealth ranking in Mexico: 22

Globa wealth ranking: 61

Sector focus: Mining

German Velasco is the Chairman and CEO of group Mexico S.A.B. de C.V. (GMEXICO.MX), it is Mexico’s largest mining and infrastructure company, and is also known for being the largest railroad company of Mexico. Larrea family owns nearly 61% of Group Mexico shares, including his own 18.7% of stake.

After a two-year decrease in copper prices, the company’s share prices got more than doubled by the end of 2020, dragging Larrea from being on the third spot of richest Mexicans to be on the second spot.

3. Ricardo Salinas Pliego

Net worth: $12.8 billion

Wealth ranking in Mexico: 30

Global wealth ranking: 167

Sector focus: Retail

This billionaire owns a financing company by name Grupo Elektra and conglomerate Grupo Salinas, which claim holdings in television, retail, telecommunication, banking and financial sectors. His net worth suffered due to fragile consumer spending, but a strong Mexican like him was able to increase his net worth by $1.23 billion in 2020.

4. Alberto Baillères Gonzalez

Net worth: $9.1 billion

Wealth ranking in Mexico: 40

Global wealth ranking: 265

Sector focus: Mining

This business magnate owns Grupo BAL, a wide-scale corporation that includes Penoles, a major mining company in Mexico and El Palacio de Hierro, a chain of department store. Bailleres also serves on the board of Fomento Economuco Mexicano, S.A.B. de C.V (FEMSA) (FMX), a soft drink production company, along with having distribution channels, and a marketing firm.

However, falling consumption of soft-drinks and increasing taxes have hampered FEMSA’s sales lately. Nonetheless, Alberto has managed to maintain his net worth for $9.12 billion.

5. Juan Francisco Beckmann Vidal

Net worth: $7.89 billion

Wealth ranking in Mexico: 5

Global wealth ranking: 36913

Focused vertical: Alcoholic beverages

This man is famous for running an alcoholic brand by name Jose Cuervo of tequila, which has been a family legacy for 10 generations. Becle S.A.B. de C.V., it is the parent company of the tequila brand and other liquor brands owned by the company, went public in 2017 IPO and raised $900 million.

The Beckmann family still owns more than 85% of Becle, which still has a marketing value of $8.8 billion and most of the shares are from adult beverage market.

Lindsay Born
Lindsay Born
I am Lindsay Born. My passion is to write about new businesses, leadership and capture interesting stories. I am quick in research and craft better stories.

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