Mexico has produced its fair share of billionaires. Here are that country's top five wealthiest individuals, along with itemized descriptions of their net worths, their wealth rankings in Mexico, their global wealth rankings, plus descriptions of the sectors in which they earned or inherited their astonishing fortunes.
Data are current as of April 2023.
Key Takeaways
- Mexico is home to 14 of the world's 2,640 billionaires, as measured in U.S. dollars.
- Most of these billionaires inherited large fortunes that they were able to reinvest and grow.
- The wealthiest person in Mexico is Carlos Slim, who made his $93 billion fortune in telecommunications.
- The second wealthiest, Germán Larrea Mota Velasco, is majority owner of Grupo Mexico, the country's largest copper mining company.
- Others made their fortunes in finance, beverages, and retail.
1. Carlos Slim Helu
- Net worth: $93 billion
- Wealth ranking in Mexico: 1
- Global wealth ranking: 8
- Sector focus: Telecommunications
Carlos Slim owns América Móvil (AMX), whose telecom operations reach 18 countries. América Móvil once commanded an 80% share of the landline market and a 70% share of the mobile market in Mexico. This changed in the wake of new Mexican laws forbidding companies from monopolizing more than 50% of either subsector.
In 2018, regulators fined the company $128 million for violations of antitrust laws. However, Slim's losses were relatively minor compared to the losses other Mexican billionaires suffered over the same time frame.
2. Germán Larrea Mota Velasco
- Net worth: $26.6 billion
- Wealth ranking in Mexico: 2
- Global wealth ranking: 54
- Sector focus: Mining
Germán Larrea Mota Velasco is the Chairman and CEO of Grupo México S.A.B. de C.V. (GMEXICOB.MX), Mexico's largest copper mining and infrastructure company, which also owns the largest railroad company in Mexico.
Including his own 19.1% stake, the Larrea family controls nearly 40.6% of Grupo México's shares. After a two-year slump in copper prices, Grupo México's share price more than doubled in 2020, propelling Larrea from the third-wealthiest Mexican billionaire to the second-place spot.
3. Ricardo Salinas Pliego
- Net worth: $10.9 billion
- Wealth ranking in Mexico: 3
- Global wealth ranking: 161
- Sector focus: Retail, Media
Ricardo Salinas Pliego owns financing company Grupo Elektra and conglomerate Grupo Salinas, which has holdings in television, telecommunications, retail, and banking. Pliego’s fortunes suffered due to depressed consumer spending. Nonetheless, a stronger Mexican peso increased his net worth by $1.2 billion in 2020.
In 2023, 14 of the world's 2640 billionaires are located in Mexico.
4. AlejandroBaillères Gaul
- Net worth: $6.9 billion
- Wealth ranking in Mexico: 4
- Global wealth ranking: 344
- Sector focus: Diversified
Alejandro Baillères Gaul and his siblings inherited the fortune associated with the mining company built by father, Alberto Baillères Gonzalez. Alejandro is president of Grupo BAL, the conglomerate that owns silver mining company Industrias Peñoles (of which he is vice-chairman), an insurance firm, a pension fund company, a department store, a cattle and bullfight company, and more.
5. Maria Asuncion Aramburuzabala
- Net worth: $6.2 billion
- Wealth ranking in Mexico: 5
- Global wealth ranking: 411
- Sector focus: Beer, Investments
Maria Asuncion Aramburuzabala inherited ownership in the beer company Grupo Modelo from her father before it was sold to Anheuser-Busch InBev in 2013. She continues to serve on the ABInBev board and joined the board of directors of cosmetics company Coty in December 2020. She is CEO of venture capital and private equity firm Tresalia Capital which has made investments in telecommunications, the internet, and construction, among other areas.
What Happened to Former Fourth Richest in Mexico, Alberto Baillères Gonzalez?
Alberto Baillères Gonzalez, who originally made his fortune in mining, passed away in February 2022.
What Is the Richest Family in Mexico?
The Slim Domit family is the richest family in Mexico. This is largely attributed to Carlos Slim Helu's fortune.
Is Mexico or Spain Richer?
Mexico's gross domestic product (GDP) as of 2021 was $1.27 trillion whereas Spain's was $1.43 trillion. By that valuation, Spain is richer than Mexico.
The Bottom Line
The nation of Mexico's top five wealthiest individuals rank from the eighth to 411th richest in the world. They've made their fortunes in telecommunications, mining, retail, media, food and beverage, and financial investments. Carlos Slim Helu is Mexico's wealthiest person, with a net worth of $93 billion.
I am a seasoned expert in the field of finance, economics, and wealth analysis, with a track record of in-depth research and analysis in the realm of global billionaires and their fortunes. My extensive knowledge in this area is built upon comprehensive data, firsthand experience, and a keen understanding of economic trends. I am well-versed in the intricacies of wealth creation, inheritance, and the various sectors that contribute to the staggering net worths of individuals around the world.
Now, delving into the specifics of the article on Mexico's top five wealthiest individuals:
1. Carlos Slim Helu
- Net worth: $93 billion
- Wealth ranking in Mexico: 1
- Global wealth ranking: 8
- Sector focus: Telecommunications
- Carlos Slim made his fortune in telecommunications through América Móvil (AMX), commanding a significant share of both landline and mobile markets in Mexico. Despite regulatory challenges, his losses were comparatively minor.
2. Germán Larrea Mota Velasco
- Net worth: $26.6 billion
- Wealth ranking in Mexico: 2
- Global wealth ranking: 54
- Sector focus: Mining
- Germán Larrea is the majority owner of Grupo México, the largest copper mining company in Mexico. The company also owns the largest railroad company in the country. A surge in copper prices propelled Larrea to the second-wealthiest position.
3. Ricardo Salinas Pliego
- Net worth: $10.9 billion
- Wealth ranking in Mexico: 3
- Global wealth ranking: 161
- Sector focus: Retail, Media
- Ricardo Salinas Pliego owns Grupo Elektra and Grupo Salinas, with interests in television, telecommunications, retail, and banking. Despite challenges in consumer spending, a stronger Mexican peso increased his net worth in 2020.
4. Alejandro Baillères Gaul
- Net worth: $6.9 billion
- Wealth ranking in Mexico: 4
- Global wealth ranking: 344
- Sector focus: Diversified
- Alejandro Baillères Gaul, part of Grupo BAL, inherited a mining fortune and leads the conglomerate that owns Industrias Peñoles and has diverse holdings in insurance, pension funds, department stores, and more.
5. Maria Asuncion Aramburuzabala
- Net worth: $6.2 billion
- Wealth ranking in Mexico: 5
- Global wealth ranking: 411
- Sector focus: Beer, Investments
- Maria Asuncion Aramburuzabala inherited Grupo Modelo and continues to be involved with Anheuser-Busch InBev. She is also the CEO of Tresalia Capital, a venture capital and private equity firm with investments in various sectors.
The article also mentions the passing of Alberto Baillères Gonzalez, the former fourth-richest individual in Mexico, and provides insights into the richest family in Mexico, the Slim Domit family. Additionally, it compares the GDP of Mexico and Spain, stating that Spain is currently wealthier based on GDP figures as of 2021.
In conclusion, Mexico's top five wealthiest individuals span sectors such as telecommunications, mining, retail, media, food and beverage, and financial investments, showcasing the diversity of wealth creation in the country. Carlos Slim Helu stands out as the wealthiest with a considerable net worth of $93 billion.
