richest people in mexico richest people in mexico

Lisa Brown is the opinion editor for News and Initiatives at the CEOWORLD magazine, supervising coverage that includes consumer issues, technology, travel, life, and money news. The GDP of a city determines its wealth. Fernando Chico Pardo, whose largest asset is airport operator Grupo Aeroportuario del Sureste, and brothers Jose and Francisco Jose Calderon Rojas, shareholders of Coca-Cola bottler and convenience store company FEMSA, also fell out of the rankings. 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. Alejandro Bailleres Gual is the fifth-richest person in Mexico, with a whopping $5.7 billion. Carlos Slim Hel keeps his long-held spot as Mexicos richest person. 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. [44], In March 2012, Slim, along with American television host Larry King, established Ora TV, an on-demand digital television network that produces and distributes television shows including Larry King Now, Politicking with Larry King, Recessionista, and Jesse Ventura Uncensored. There are so many safe, leafy, and cool neighborhoods in Guadalajara, unlike other areas where ex-pats congregate, that expats are dispersed throughout the city in clusters of eight or nine more affluent areas, such as Providencia, Chapalita, Zapopan, and Chapepec. Mexico: richest people by net worth in 2022, by value of fortune Carlos Slim Helu and his family had a fortune of 81.2 billion U.S. dollars and were the richest people in the country as of 2022, according to Forbes. Upon immigrating to Mexico, her parents founded one of the first Arabic-language magazines for the Lebanese-Mexican community, using a printing press they had brought with them. [34] Much of the rationale behind Slim's international commercial expansion beyond Mexico was due to a running joke in Mexican business circles where "there was nothing left to acquire in Mexico. Lisa is also an editor on the Breaking News desk and oversees stories of national significance. If more people are employed, the richer the future looks. "The 10 richest families in Mexico. [77], Slim is an active real estate investor. His real estate holding company, Inmobiliaria Carso has developed, invested, owned and operated many residential and commercial real estate properties across Mexico since the 1960s. Cuenca is a stunning city in Ecuador that is well-known for its Spanish-style architecture from the late sixteenth century. They are not only beautiful but also confidently complete all tasks. [9] He later expanded his business operations and commercial activities by venturing into numerous industries across the Mexican economy including auto parts, aluminum, airlines, chemicals, tobacco, cable and wire manufacturing, paper and packaging, copper and mineral extraction, tires, cement, retail, hotels, beverage distributors, telecommunications and financial services (Slim's Grupo Financiero Inbursa sells insurance and manages mutual funds and pension plans for millions of ordinary Mexicans). The private equity fund's investments are mainly concentrated in the transportation and infrastructure sectors and the fund garnered a total market cap of 5.152 billion pesos at the end of 2012. [84][5][7], According to Celso Garrido, economist at the Universidad Nacional Autnoma de Mxico, Slim's domination of Mexico's conglomerates prevents the growth of smaller companies, resulting in a shortage of paying jobs, forcing many Mexicans to seek better lives in the U.S.[85], Slim was criticized by the Dutch minister of economic affairs, Henk Kamp, in 2013 for attempting to expand his telecommunications empire beyond the Americas by Amrica Mvil's buy-out offer to KPN, a Dutch landline and mobile telecommunications operator. Shares of the company have risen more than 50% in the past year, lifting his fortune from $4.3 billion a year ago. Despite a broader market rout, Grupo Elektra posted strong earnings growth for its fourth quarter 2019, helping its stock bounce back after initial losses in early March. Though his fortune has grown, hes fallen to 16th richest person in the world, from No. California, New York, and Texas are typically considered to be the richest states in the nation due to the size and scope of their economies. According to 24/7 Wall St., which used five-year estimates of median household income from the U.S. Census Bureaus 2019 survey, Southlake, Texas, a city known for its exemplary public schools (one of which has won eight football state championships), is the richest city in. The state of Sonora is considered one of Mexico's wealthiest states with a GDP per capita higher than average by about 15%. [11] It was not uncommon for Lebanese children to be sent abroad before they reached the age of 15 to avoid being conscripted into the Ottoman Army, and four of Haddad's older brothers were already living in Mexico at the time of his arrival. This 80-year old Mexican is a self-made billionaire. As a result, it has the second lowest poverty rate of any state, with a rate of just 9.7 percent. A mere 26.2 percent of Wyoming adults have a bachelors degree. [66][67], On 5 March 2008, Forbes ranked Slim as the world's second-richest person, behind Warren Buffett and ahead of Bill Gates. This billionaire was recently richer than everyone else on earth, and he is now the third richest person globally. [87][88][89][90][91][2][29], In response to the criticism, Slim has stated, "When you live for others' opinions, you are dead. [45], In September 2012, Slim bought 30% stakes in Pachuca and Len, two Mexican soccer teams through his telecommunications company America Movil. The Hamptons are a group of East End communities in Long Island, New York, located to the east of you. [3], In 2017, his net worth was reported to be $54.5 billion. After a two-year slump in copper prices, Grupo Mxico's share price more than doubled in 2020, propelling Larrea from the third-wealthiest Mexican billionaire to the second-place spot. Among her interests were various philanthropic projects. Larrea owns the majority of copper mining company Grupo Mxico, whose shares more than doubled in value in the past year, helping to boost his fortune from $11 billion last year. If youre looking for a place to live a life of luxury and privilege, one of these wealthiest cities is sure to be the perfect fit for you. The legitimate billionaires are seemingly coming back to financial growth. His father died early, and he took over the company at only 28 years of age. Check out the full list of Malaysian billionaires 2023. "Forbes World's Billionaires List - The Richest in 2021. You could buy just about anything and never have to enrich any competitors. [81], Slim's growing wealth has been a subject of controversy, because it has been amassed in a developing country where average per capita income does not surpass US$14,500 a year, and nearly 17% of the population lives in poverty. When asked to explain his sudden increase in wealth at a press conference soon after Forbes annual rankings were published, he said, "The stock market goes up and down", and noted that his fortune could quickly drop. Including his own 18.9% stake, the Larrea family controls nearly 60% of Grupo Mxico's shares. [20], In February 2011, Julian, the oldest brother of Carlos, died aged 74. Mexico City offers a wide variety of cultural attractions, as well as a bustling nightlife scene. Full List of Mexico Billionaires 2023 When people think of the countries with billionaires, they often forget to mention Mexico. Mexico's GDP as of 2020 was $1.07 trillion; whereas Spain's was $1.28 trillion, making Spain, in that sense, richer than Mexico. 3 last year, as shares of his mining firm Grupo Mexico more than doubled in value. Concurrently, Telmex also spun off its international cellular phone division for a $15 billion listing of America Movil SA on the New York Stock Exchange. He also licensed the Saks name and opened the Mexican arm of Saks Fifth Avenue retailer in Santa Fe, Mexico. He made a fortune as a shareholder of Mexican bank Banamex, which Citigroup acquired in 2001 for some $12 billion in cash and stock. Antonio Del Valle Ruizis placed 8th with a net worth of $3.2 billion. Most of his fortune lies in his stake in Grupo Elektra, a publicly-traded home appliances retailer that targets lower middle class consumers who borrow money from his banking arm, Banco Azteca, to buy items like refrigerators and TVs. America Movil will spend as much as US$2billion to buy out minority shareholders in a mandatory public offer and invest up to 1billion euros (US$1.38billion) into the company, which it sees as "platform for expansion into central and eastern Europe". (adsbygoogle = window.adsbygoogle || []).push({}); As of February 12, 2023, Carlos Slim Helu was thewealthiest man in Mexico, with an estimated net worth of 88.6 billion U.S. dollars, followed byGerman Larrea Mota Velasco (No. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Here are Mexicos 13 billionaires; net worths are as of March 5, 2021: Slim, whose largest asset is a majority stake in pan-Latin American wireless telecom firm Amrica Mvil, was the worlds richest person for four years from 2010 to 2013. The study found that the three states had the highest GDP per capita in 2013, at $17,209, $16,532 and $15,532 respectively. Let's find out who is the richest person in India. Pliegos fortunes suffered due to depressed consumer spending, but a stronger Mexican peso, nonetheless, increased his net worth by $1.2 billion in 2020. Check it out! Celebrity jet-setters, championship golfers, US party boys and girls, families, and anyone interested in living luxuriously along the Pacific Ocean are just a few of the celebrities who call Cabo San Lucas home. The Richest People In New Mexico. She's a California native who grew up in the Central Valley. The son of Lebanese immigrants and a cousin of Carlos Slim Hel, Alfredo Harp Hel diversified his fortune after receiving a hefty payout from Citigroup's 2001 acquisition of the Mexican bank he formerly owned, Banamex. And that is true in Mexico as well. Where do the rich and famous vacation in Mexico? America Movil is the telecom subsidiary of Mexican billionaire Carlos Slim. In New York City, there are 3 trillion dollars in private wealth. After a two-year slump in copper prices, Grupo Mxico's share price more than doubled in 2020, propelling Larrea from the third-wealthiest Mexican billionaire to the second-place spot. Alberto Baillres owns Grupo BAL, an enormous conglomerate that includes Peoles, a major mining company, and El Palacio de Hierro, an upscale chain of department stores. [40] Slim's stake in the Times increased again to 16.8% of the company's Class A shares on 20 January 2015 when he exercised stock options to purchase 15.9 million shares, making him the largest shareholder in the company. Julin senior died in 1953, when Carlos was 13 years old. This 50-year old billionaire successfully pursued a Bachelors degree in Industrial Relations from Iberoamericana University. The median home value in California is $449,100, making it difficult for those with an average income to afford a home. Germn Larrea Mota Velasco is the Chairman and CEO of Grupo Mxico S.A.B. Since 2006, IDEAL won three infrastructure contracts yet it faces stiff competition from a number of other Mexican and Spanish construction companies.[7][37]. Shares of Grupo Mxico, the nations largest mining corporation, ended a turbulent year down nearly 30% after one of the worst quarters since the Great Recession for copper miners around the globe. In the following year, Slim bought the Mexican arm of Sears Roebuck.[19][17]. [14] Graduating as a civil engineering major, Slim has stated that his mathematical ability and his background of linear programming was a key factor in helping him gain an edge in the business world, especially when analyzing the financial statements of prospective companies when making business decisions and potential investment acquisitions.[15][22][23]. [41] According to the company's 2016 annual filings, Slim owned 17.4% of the company's Class A shares, and none of the company's Class B shares. [70] Between 2008 and 2010, Slim more than doubled his net worth from $35 to $75billion. For that he can thank his familys nearly 75% stake in appliance retailer and lender Grupo Elektra. A two-liter bottle of Coca-Cola costs an average of 14 pesos, or about 1.42 dollars, in Mexico City. Horses are one of the fastest animals in the world. 4, $7.1 billion). I don't want to live thinking about how I'll be remembered [by Mexican people]," claiming indifference about his position on Forbes list of the world's richest people. He is now the proud owner of America Movil and 17 percent of the New York Times. His three older sons serve in key positions in the companies controlled by Slim where most are involved in the day-to-day running of Slim's business empire. Now the nation's second-richest person, after surpassing mining tycoon Germn Larrea Mota Velasco, Salinas Pliego was the only Mexican billionaire whose fortune went up over the past year. Though there were no billionaire newcomers from Mexico this year, the shifting market did give rise to a new richest woman in the country. The only Mexican woman on the billionaire rankings, Aramburuzabala inherited a stake in beer giant Grupo Modelo from her father before its $20 billion sale to Anheuser-Busch InBev in 2013. "Alberto Bailleres Gonzalez & Family. Somewhere, at some point, luck will suddenly come to you. Today his holdings span industries that include hospitality, athletic wear and flooring. With over 10 years of professional writing experience, his ultimate goal is to simply and effectively communicate useful information using the most technologically relevant methods. [94] Though Slim has not gone as far as Gates and Buffett in pledging more than half of his fortune, Slim has expressed firm support for philanthropy and has advised budding entrepreneurs that businessmen must do more than givethey "should participate in solving problems". Limited partners pay US$30,000 per subscription while hedge fund managers pay half the price and also sign up for a free version of the products the company offers. [19][94] The foundation has organized Copa Telmex, an amateur sports tournament, recognized in 2007 and 2008 by Guinness World Records as having the most participants of any such tournament in the world. In 2007, after having amassed a 50.1% stake in the Cigatam tobacco manufacturer, Slim sold a large portion of his equity to Philip Morris for US$1.1billion. Areas such as the wealthy neighborhoods of Polanco and Lomas de Chapultepec are some of the most expensive real estate in the country. de C.V. (GMEXICOB.MX), Mexico's largest mining and infrastructure company, which also owns the largest railroad company in Mexico. The wealthiest person in Mexico is Carlos Slim, who made his $62 billion fortune in telecommunications. In addition, they also have a high standard of living. [69] It was also the first time the person at the top of the list was from an emerging economy. [15] Slim and his wife had a very happy marriage, and he indicated that he does not intend to remarry. Unemployment rates in Virginia are estimated to be at 4% while poverty rates are estimated to be at 11.1%. The Slim Domit family is the richest family in Mexico, which is largely attributed to Carlos Slim Helu's fortune. [59], In his office, Slim does not have a computer, and instead keeps all his financial data in hand-written notebooks. 2023 March Monthly Horoscope of 12 Zodiac Signs - Best Astrological Prediction for Love, Money, Career and Health: Top Luckiest Zodiac Signs, Unluckiest Zodiac Signs, Lucky Number, Lucky Color. "Share of population living n poverty in Mexico in 2020, by state.". He then started founding different companies in different verticals and served as their president. Also in 2007, the estimated value of all of Slim's companies totaled US$150billion. Bogotas cuisine, culture, architecture, and history are just a few of the reasons why tourists come to the city. [3], In December 2012, according to the Bloomberg Billionaires Index, Carlos Slim Hel remained the world's richest person with an estimated net worth of US$75.5billion. He is now worth 3.1 billion dollars. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. He came out of the richest man alive slot in 2013, after 3 years, because of Mexican regulation revisions. As many banks were struggling and foreign investors were cutting back on investing and scurrying, Slim began investing heavily and acquired many Mexican flagship businesses at depressed valuations. At the age of 32 years, Arango did not know he could be Mexicos seventh-richest person. Though he diversified his holdings after the sale, his fortune ticked down amid the broader market rout, falling from $1.8 billion last year. In a syndicate holding structure the Austrian state holding company OIAG's 28% are combined with Slim's 27% ownership. He was worth $9.9 billion in 2012, but that wealth since plummeted to $7.8 billion. How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. ", "Shazam Raises A Huge Round to the Tune of $32 Million", "Shazam Gets $40 Million Investment from Carlos Slim's America Movil", "UPDATE 1-Carlos Slim private equity fund sells stake in pharma company", "Slim seeks to build Telekom Austria into European player", "Carlos Slim dives into ailing Spanish economy, takes over troubled companies", "One of the richest men in the world is backing a startup that ranks Wall Street's hedge funds", "Fallece el empresario Julin Slim Hel, hermano de Carlos Slim", "La trgica historia de amor de Carlos Slim, el hombre ms rico de Mxico", "Mexican Billionaire Carlos Slim Is Quietly Transferring Assets To His Children", "A Priest's Legacy Survives, and Divides, in Mexico", "Francis heads to Mexico amid Legionaries of Christ disclosures", "Carlos Slim Hel tiene covid-19, confirma su hijo", "Carlos Slim Helu Now World's Second-Richest Man", "Carlos Slim, the richest man in the world", "Mexican overtakes Bill Gates as world's wealthiest man", "Year's richest man, first from emerging economy, bumps Gates", "Bill Gates Retakes World's Richest Title From Carlos Slim", "Mexico's Carlos Slim Reclaims World's Richest Man Title From Bill Gates", "Forbes 2017: World's top 20 billionaires", "Carlos Slim, owner of Sears Mexico, lives a surprisingly frugal life for a billionaire. Carlos Slim owns Amrica Mvil (AMX), whose telecom operations reach 25 countries. . "Grupo Mxico SAB de CV. Karen Virginia Beckmann Legoretta ($3.1 billion) occupied the 9th position among the top 10wealthiest people in Mexico. When a city has a high GDP, it is more prosperous. The reason why these places are considered to be wealthy is because they have a high concentration of millionaires and billionaires. The Worlds Best Universities For Doctor of Business Administration (DBA), 2022. [9] As of 2016, he is the largest single shareholder of The New York Times Company. Apartments in this city typically cost at least $1,000 per month, with food and entertainment accounting for another $300. You can learn more about the standards we follow in producing accurate, unbiased content in our. [94] Education and health care projects have included $100 million to perform 50,000 cataract surgeries in Peru. As of March 4, 2023, Bernard Arnault had a net worth valued at $189 billion, making him the wealthiest person As of March 3, 2023, Gina Rinehart was the wealthiest person in Australia, with an estimated net worth of 29.2 As of March 3, 2023, Georg Stumpf was thewealthiest man in Austria, with an estimated net worth of 7.9 billion As of March 3, 2023, Jorge Paulo Lemann was thewealthiest man in Brazil, with an estimated net worth of 15.9 As of March 3, 2023, David Thomson was thewealthiest man in Canada, with an estimated net worth of 54.9 billion Wealthiest People in Japan (February 20, 2023), Why Academic Freedom Should Be Encouraged in Universities, Best Universities For Doctor of Business Administration (DBA), 2022, Worlds Best Hospitality & Hotel Management Schools, 2022, The Worlds Richest People (Top Billionaires, 2023), Wealthiest People in Australia (March 3, 2023), Wealthiest People in Austria (March 3, 2023), Wealthiest People in Brazil (March 3, 2023), Wealthiest People in Canada (March 3, 2023), Inclusion and Diversity at CEOWORLD magazine, German Larrea Mota Velasco & family: $27.0 billion, Ricardo Salinas Pliego & family: $11.0 billion, Alejandro Bailleres Gual & Siblings: $7.1 billion, Maria Asuncion Aramburuzabala & family: $6.3 billion, Juan Domingo Beckmann Legorreta & family: $4.4 billion, Antonio Del Valle Ruiz & family: $3.2 billion, Karen Virginia Beckmann Legoretta: $3.1 billion. Thats nearly 25% less than the $133 billion that Mexicos billionaires were worth last year. "Mexico's Richest Billionaires 2021. There are a lot of celebrities and wealthy individuals living in this area. [76], In 2021 Forbes stated his net worth as $73.3 billion. [46] Slim has also completed business deals for the television rights to games of the Leon soccer team. In 2018, regulators fined the company $128 million for violations of antitrust laws. Check out full list of Mexico's billionaires 2023. [92], Later in 2017, Trump and Slim met in person. [41][42] The New York Times Company's Class A shares are available for purchase by the public and offer less control over the company than Class B shares, which are privately held. On this Wikipedia the language links are at the top of the page across from the article title. In March 2012, Amrica Mvil acquired the broadcast rights for the Olympic Games in Sochi 2014 and the Brazil 2016 for Latin America. [51], On 23 April 2014, Slim took control of Telekom Austria, Austria's largest telecommunications company, which operates telcos in countries such as Bulgaria, Croatia and Belarus, under a 10-year agreement. Stock prices had tumbled as well. She is one of the famous businesswomen in Mexico. It's unclear, however, how long the good fortune will last. Reach her at info@ceoworld.biz. Back then, she was worth $6.5 billion, but she is now worth $6.8 billion. This resort is not only one of the most luxurious places in the world to go on vacation, but it also hosts world-famous celebrities such as Brad Pitt and Angelina Jolie. 2. [30] In addition, Grupo Carso's corporate conglomerate structure allows Slim to purchase numerous stakes across a wide range of industries, thereby making the overall conglomerate nearly recession-proof in the event that one or more industry sectors of the Mexican economy do not fare well. Streams of knowledge everyone should know, Copyright@2020 KnowInsiders. [56][57], Carlos Slim was married to Soumaya Domit from 1967 until her death in 1999. [20], In August 1926, Julin Slim married Linda Hel Atta. The states of Mexico, Jalisco and Guanajuato were also found to be among the wealthiest in the country, with GDP per capita of $14,532, $13,209 and $12,532 respectively. Bill Vix writes blogs, articles, and website content for clients who want the facts presented in a way that is digestible to their target audience. Surprisingly, according to the Bloomberg Billionaires Index, Carlos Slim, a Mexican billionaire, ranks higher than Mark Zuckerberg, the inventor of Facebook (position 23). For some weird reason, Mexicos elite hasnt been performing as well financially as its middle class. For him, anything retail goes, and his 4.3 billion dollars is from different industries, including fashion, supermarkets, and restaurants. When Forbes calculated fortunes for the list on March 18, 2020, the Mexican peso was at its weakest point ever compared to the U.S. dollar, with $1 trading for close to 24 pesos.