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. today Mexico has 13 billionaires, in this video, we share with you the list of the top richest people in Mexico ?. David Penaloza Alanis, CEO of toll road company Promotora y Operadora de Infraestructura, known as Pinfra, returns to the ranks after falling off in 2020. The Maldives, a remote, untouched island country in the Indian Ocean, has so much to offer that it is difficult to imagine how it could be exploited. Most frequently, the authors make the case that the lack of good credit markets, distortion of the supply of non-traded inputs, and perverse incentives for informality all contribute to a decline in productivity. The median home value in California is $449,100, making it difficult for those with an average income to afford a home. Telvista has five centers in Mexico (three in Tijuana, one center in Mexicali, and one in Mxico City). It went public in 2017. It is pretty fair to assume that they deserve it. 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. Forbes has released its list of wealthiest people in the world. ], In 1911, Julin established a dry goods retail store, La Estrella de Oriente (The Star of the Orient). Currently in the world there are more than 100 different horse breeds, here are the top 10 best and highly appreciated breeds. That's essentially the situation in Mexico, where one of the world's richest people, Carlos Slim Hel, resides. Mexicos richest citizens have lost billions after an already-tumultuous year for Latin America's second-largest economy turned worse. He acquired large blocks of Denny's and Firestone Tires. Amrica Mvil once commanded an 80% share of the landline market and a 70% share of the mobile market in Mexico. Germn Larrea Mota Velasco is the Chairman and CEO of Grupo Mxico S.A.B. 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. 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. Choose the best day to do big work. He was worth $9.9 billion in 2012, but that wealth since plummeted to $7.8 billion. He is notable because he is someone in his 20s who has nonetheless managed to become a billionaire. [19], Slim earned windfall profits in the early 1990s when Mexican government began privatizing its telecom industry. The article said, "While the market value of his stake in publicly traded companies could decline at any time, at the moment he is probably wealthier than Bill Gates". Slim's investment company, Inmobiliaria Carso, announced it will buy a stake in the Spanish bank, Bankia, which couples with Slim's other purchase of Realia, a Spanish real estate company, where Slim is the second largest shareholder holding a 25% equity stake, behind Fomento de Construcciones y Contratas, a Spanish construction company where Slim is also an active minor shareholder. In the rise of his wealth, the Business magnate has engaged in the formation of several companies. Top 20 Richest Countries In the World 2023 - By GNI Per Capita. The Mexican steel barons fortune is up $500 million from a year ago after a rebound in the share price of two steel listed companies in which he owns shares: Industrias CH and Grupo Simec. Among those no longer in the ranking are Emilio Azcrrago Jean, who inherited control of Mexicos largest television company, Televisa, after his father passed in 1997, and David Penaloza Alanis, the CEO of listed infrastructure firm Pinfra, which his father founded in 1969. He owns majority shares of Grupo Mexico and has made the final decisions for it since 1994. With 19 billionaires, Malaysia's richest people have power in sectors of strength. [45], In September 2012, Slim bought 30% stakes in Pachuca and Len, two Mexican soccer teams through his telecommunications company America Movil. How does . [17] By the age of 15, Slim had become a shareholder in Mexico's largest bank. Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. He owns Grupo Salinas and Grupo Elektra. The engineer ventured into banking, tourism, energy, infrastructure, and auto dealerships. [7], In March 2011, Forbes stated that Slim had maintained his position as the wealthiest person in the world, with his fortune estimated at US$74billion. The Beckmann family still owns more than 85% of Becle, which has a market capitalization of $8.65 billion as of April 1, 2022, and a commanding share in the adult beverages market. He has said he has no interest in becoming the world's richest person. "GDP (current US$) - Mexico. ", "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. Karen Virginia Beckmann Legoretta ($2.7 billion) occupied the 9th position among the top 10 wealthiest people in Mexico. Based on MasterCMS Ultimate Edition v2.9 2020, Top 10 Most Beautiful Mexican Actresses - Updated, Top 8 Most Handsome Men in Mexico - Updated. In late February, while Mexico's reported coronavirus cases were still hovering in the single digits, the nation's billionaires were faring well, despite two quarters of economic contraction; the overwhelming majority were enjoying lofty gains thanks mostly to soaring share prices, and combined, they were worth $125 billion. Since 2012, most of the Mexican dollar billionaires have suffered a significant reduction in their net worth. Furthermore, all of these countries have low levels of corruption, making them some of the most stable and prosperous places in Latin America to live. 3, $10.9 billion); and Alejandro Bailleres Gual (No. When people think of the countries with billionaires, they often forget to mention Mexico. Guadalajara is one of the bigger cities in Mexico, population-wise, and one of the richest cities in the country. 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. Ecuadorean President O.P.B.Cenca is in Cuenca. The Mexican peso had strengthened to about 21 pesos per dollar, and stock prices of many companies founded and run by Mexican billionaires rebounded significantly. Japans capital, Tokyo, is the richest city in the world. Maria Asuncion Aramburuzabala is the fifth-richest person in Mexico, with a whopping $6.3 billion. Today his holdings span industries that include hospitality, athletic wear and flooring. Apartments in this city typically cost at least $1,000 per month, with food and entertainment accounting for another $300. Karen Virginia Beckmann Legoretta ($3.2 billion) occupied the 9th position among the top 10wealthiest people in Mexico. Slim's wealth is the equivalent of roughly 5% of Mexico's annual economic output. What are the most popular & largest US Colleges and Universitiestoday? Sanborn's, the Mexican retail department store chain owned by Slim controls a majority stake in Mixup, Mexico's most successful retail music store that comprises a chain 117-store Mexican retailers Mixup also generated more than US$320million in revenue in 2014. Ricardo Salinas Pliego owns financing company Grupo Elektra and conglomerate Grupo Salinas, which boasts holdings in television, telecommunications, retail, and banking. The diversity of this tourist destination is breathtaking. The Polanco area, also known as the Beverly Hills of Mexico, is home to one of the countrys largest concentrations of luxury shopping. [3] He was the first Mexican to top the list. Reuters. 9. Dubai has become one of the worlds wealthiest cities, owing in part to its status as a free market state. The Mexican steel baron's net worth, which is mostly composed of his holdings in two steel companies, fell slightly from $1.3 billion due to continuing headwinds for the Mexican steel industry. [19] Slim has six children: Carlos, Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna. [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. (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. "Federal Telecommunications and Broadcasting Law," Page 57. A two-liter bottle of Coca-Cola costs an average of 14 pesos, or about 1.42 dollars, in Mexico City. [1][7][15][58] Slim underwent heart surgery in 1999. Though it remains Mexico's fourth-largest fortune, the $6.4 billion amassed by Bailleres Gonzalez marks a $1 billion drop from last year, as shares of Industrias Peoles, Mexicos second-largest mining company, tanked nearly 50%. The point is you have to recognize and grasp. Now the sole Mexican woman on the billionaire rankings, Asuncin Aramburuzabala inherited a stake in beer giant Grupo Model from her father before its $20 billion sale to Anheuser-Busch InBev in 2013. The mansion is 20,000 square feet and has 12 bedrooms, 14 bathrooms, and a doctor's office in the basement. Most visitors arrive via its airport, so the beaches of Baja California are well known for their sand and sea. In addition to the coastal areas, the city of Mexico City is also a popular destination for the rich and famous. Juan Francisco Beckmann Vidal,. She, with her mother and sister, inherited a stake in beer giant Grupo Modelo by her father. Chile is known for its cultural and historical diversity, as well as its economic wealth. The wealthiest person in Mexico is Carlos Slim, who made his $62 billion fortune in telecommunications. This 80-year old Mexican is a self-made billionaire. [33][30], In 1991, he acquired Hoteles Calinda (now OSTAR Grupo Hotelero), a hotel chain and in 1993, he increased his stakes in General Tire, an American tiremaker and a distributor of aluminum profiles and aluminum concern Grupo Aluminio to the point where he had a majority interest in the company. His father, David Penaloza Sandoval, founded a predecessor company. Others made their fortunes in mining, finance, and retail. Lisa is also an editor on the Breaking News desk and oversees stories of national significance. Slim had acquired a 27.51% stake in the company in June 2008, which represented 6.6% of Sinca's investment portfolio. [95], Established in 1986, Fundacin Carlos Slim[es] sponsors the Museo Soumaya in Mexico City, named after Slim's late wife, Soumaya Domit, opened 2011. In terms of price, it is one of the most expensive cities in Latin America. 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. The 10 Richest People in Mexico in 2022. Most of these billionaires inherited large fortunes that they were able to reinvest and grow. The following are ten of Mexico's richest men in 2019. Larrea's net worth, which is mostly made up of his controlling stake in Grupo Mxico, fell 17%. ", Market Screener. However, falling consumption and higher taxes on soft drinks hampered FEMSA's sales. Investopedia requires writers to use primary sources to support their work. However, Slim's losses were relatively minor compared to the losses other Mexican billionaires suffered over the same time frame. Mexico has produced its fair share of billionaires. [9] In 1990, Grupo Carso was floated as a public company initially in Mexico and then worldwide. Amrica Mvil, Latin Americas largest telecommunications company, is owned by the Helu family. The unemployment rate tries to capture the prospects for more people to become rich. With its strong economy, modern infrastructure and vibrant culture, Monterrey is one of the most attractive cities in Mexico. [3] On 16 May 2013, Bloomberg L.P. ranked Slim the second-richest person in the world, after Bill Gates. Pliegos fortunes suffered due to depressed consumer spending, but a stronger Mexican peso, nonetheless, increased his net worth by $1.2 billion in 2020. [18] He went on to study civil engineering at the National Autonomous University of Mexico, where he also concurrently taught algebra and linear programming. [83] Telmex, of which 49.1% is owned by Slim and his family, charges among the highest usage fees in the world, according to the Organisation for Economic Co-operation and Development. [19][unreliable source? [11][12][13] He decided at a young age that he wanted to be a businessman,[4][14] He got close to $500 million in October 2017 when he sold his Grupo Financiero Interacciones to Grupo Banorte, the Monterrey-based bank founded by his wifes father. Check out full list of Mexico's billionaires 2023. Unemployment rates in the United States are ranked twenty-fourth highest, with a 5.2 percent rate. [66], On 8 August 2007, Fortune magazine reported that Slim had overtaken Gates as the world's richest person. [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. 3 last year, as shares of his mining firm Grupo Mexico more than doubled in value. 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. Its not only a drop in equities that caused broad decreases among Mexican fortunes. According to the Bloomberg Billionaires Index, Slims wealth increased by $7.2 billion to $78.2 billion as of June 2022, making him the richest man in Latin America. I'm an editor overseeing Forbes' coverage of the world's wealthiest. All of Mexico Citys billionaires live in the city. And that is true in Mexico as well. 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. At the time, he owned 80% share of the landline and controlled 70% share of the mobile market. 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. [5] Slim owns the Duke Seamans mansion, a 1901 beaux arts house on 5th Avenue in New York City, which he bought for $44 million in 2010. Aramburuzabala has led the company to make investments in construction, telecommunications, and the internet. The Worlds Best Universities For Doctor of Business Administration (DBA), 2022. Large businesses and wealthy individuals exist in Mexico, particularly in larger cities. For some weird reason, Mexicos elite hasnt been performing as well financially as its middle class. If you want to travel to South America, you should definitely take a trip here. The legitimate billionaires are seemingly coming back to financial growth. These include white papers, government data, original reporting, and interviews with industry experts. Also excluded -- but noted in the accompanying story -- are carpetbaggers like media baron Ted Turner, the state's largest individual landowner. He got nearly $500 million in 2017 when he sold his Grupo Financiero Interacciones to Grupo Banorte, the Monterrey-based bank founded by his wifes father, the late billionaire Roberto Gonzalez Barrera (d. 2012). [92], Later in 2017, Trump and Slim met in person. Maria Asuncion is the first woman in the list of the wealthiest people in Mexico with the net worth of $5.6 Billion. Concurrently, Slim established Carso Infraestructura y Construccin, S. A. 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. [19][4], In 1982, the Mexican economy contracted rapidly. There are many wealthiest cities around the world, each with its own unique character and atmosphere. 4, $6.2 billion). [5] As of February 2023, Bloomberg Billionaires Index ranked him as the 10th-richest person in the world with a net worth of $86 billion,[6] making him the richest person in Latin America.[6]. [68] It was the first time in 16 years that the person on top of the list was not from the United States. Maria Asuncion is currently the second richest woman in Mexico. Carlos holds a Bachelors degree in Science and Arts. 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. 1. It's unclear, however, how long the good fortune will last. Astrologers predicted that things will improve after the second week. Reluctant Mexican consumers in his banking and retail ventures resulted in fewer sales and loans. The Full List of Indian Billionaires In 2023 - Who Are Top 10 Richest People In India? The supermarket chain, Aurrera, changed the brothers lives entirely. [16] At the age of 12, he made his first stock purchase, by buying shares of a Mexican bank. As of the end of 2021, there are 13 billionaires in Mexico. She, with her mother and sister, inherited a stake in beer . [64], On 29 March 2007, Slim surpassed American investor Warren Buffett as the world's second richest person with an estimated net worth of US$53.1billion compared with Buffett's US$52.4billion. America Movil partnered with the company to aid its growth into advertising and television and help the audio recognition service expand in Latin America.[49][50]. In November 2013, Slim invested US$60 million in the Israeli startup Mobli, a company that deals with connections between people and communities corralled according to different interests. He derived his fortune from his extensive holdings in a considerable number of Mexican companies through his conglomerate, Grupo Carso. With his conglomerate Grupo Carso, he acquired Telmex, a landline telephone operator from the Mexican government. This changed in the wake of new Mexican laws forbidding companies from monopolizing more than 50% of either subsector. 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. Shares of his airport management firm Grupo Aeroportuario del Sureste plunged dramatically in early March 2020 but nearly doubled in value since then. The richest state in Mexico is Baja California, or Baja California Norte, the country's 12th largest state. On 11 March 2009, Forbes ranked Slim as the world's third-richest person, behind Gates and Buffett and ahead of Larry Ellison. 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. She successfully pursued a Bachelors degree in Arts and Science. Mexico: richest people 2022, by net worth Published by Teresa Romero , Jul 27, 2022 In 2022, the Mexican business magnate Carlos Slim Helu and his family had a fortune worth of 81.2 billion. Dubai is also the worlds busiest international airport, with over 22 million passengers per year. Some of their well-performing brands include El Porton, VIPs, Suburbia, Superama. The Most Successful Mexican Entrepreneurs. He started a successful supermarket chain with his younger brothers at the age of 33 years. Have you read? [36], In 2005 Slim invested in Volaris, a Mexican airline[19] and established Impulsora del Desarrollo y el Empleo en Amrica Latina SAB de CV (using the acronym "IDEAL"roughly translated as "Promoter of Development and Employment in Latin America"), a Mexican construction and civil engineering company primarily engaged in not-for-profit infrastructure development. [33], Amrica Telecom, the holding company for Amrica Mvil, was incorporated in 2000. Looking for online courses during the pandemic? After Argentina and Brazil, it is the third largest country in Latin America, the nation has extreme poverty and wealth levels. 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. Rent in Buenos Aires, according to Rentista, is around $900 per month, which is quite steep in Latin America.