Rich list: These are the wealthiest individuals in Mexico
Even though the global economy seems like it's heading for a recession, four Mexicans are still among the world's 500 richest people.
Four Mexicans remain on the list of the 500 richest individuals in the world, even though the global economy appears to be headed for a recession due to the contraction caused by the COVID-19 pandemic and the war in Ukraine.
Surprisingly, according to the Bloomberg Billionaires Index, Carlos Slim, a Mexican billionaire, ranks higher than Mark Zuckerberg, the inventor of Facebook (position 23).
The second person on the list is the president of Grupo Mexico, German Larrea (number 55), who has a net worth of $21.6 billion. Ricardo Salinas, the CEO of TV Azteca, ranks third (spot 163) with an annual income of $10.4 billion. Last on the list is Juan Beckmann Vidal (number 330), president of Becle and leader of Jose Cuervo tequila, with a net worth of $6.31 billion.
In addition to these businessmen, the list includes billionaire scientists, artists, and heirs. Elon Musk, CEO of Tesla and SpaceX, is the richest man in the world with a net worth of 210 billion dollars, 74 billion dollars more than Jeff Bezos, owner of Amazon.
Mexicans on the list of the 500 richest people in the world
These are the businesses of the four Mexicans on Bloomberg's list.
Carlos Slim
Worth: 68.2 billion dollars (rank 12)
Carlos Slim's wealth is primarily derived from a small number of publicly traded businesses. His full ownership in América Móvil is his most valuable asset, followed by his stakes in Grupo Carso, a holding business, and Grupo Financiero Inbursa, a banking and insurance company.
Slim is the owner of América Móvil, which is the biggest mobile provider in the region. In 2021, the corporation alone had revenues of USD 42.1 billion.
The businessman is a shareholder in both the New York Times and big banks. He holds stakes in the Mexican building sector through his family's investment entity, Grupo Carso.
Carlos Slim also owns stock in several other publicly traded businesses, several of which generate dividends. His six children, Carlos, Patrick, Marco Antonio Slim Domit, and daughters Soumaya, Vanessa, and Johanna, now possess the majority of his holdings.
According to statistics gathered by Bloomberg, Carlos Slim has received dividend payments from his investments totaling more than $9 billion. His cash holdings' worth is determined by real estate acquisitions, market performance, investments, charitable contributions, and taxes.
German Larrea
Worth: 21.6 billion dollars (rank 55)
Germán Larrea's family owns a 60% share in Grupo México, a publicly traded mining corporation that his father, Jorge, created. This is where the majority of Germán Larrea's wealth comes from. The business, which has operations in the United States, Mexico, Peru, and Spain, claimed $10.9 billion in revenues in 2020.
Another 40.5 percent is owned by his family's holding business, Empresarios Industriales de México, which grew its earnings by 18 billion. Additionally, the billionaire owns a tiny direct investment in Southern Copper—less than 1%.
To acquire Grupo Cinemex, which in 2015 had 42% of the Mexican movie theater market, Larrea paid 315 million in 2008. In 2020, the company's earnings are anticipated to be close to 1.3 billion pesos.
Ricardo Salinas
Worth: 10.4 billion dollars (rank 163)
The majority of Ricardo Salinas' wealth comes from his investments in TV Azteca, a Spanish-language broadcaster, and Grupo Elektra, a retail and banking conglomerate. 74 percent of Grupo Elektra and 66 percent of TV Azteca are owned by Salinas and his kin.
Elektra, which owns Banco Azteca, reported revenues of 119 billion Mexican pesos in 2019. Additionally, in January 2015, the billionaire sold AT&T his stake in Iusacell, the third-largest mobile carrier in Mexico, for 1.7 billion. The cash value of Ricardo Salinas' investments is based on internal transactions, taxes, and market performance.
Juan Beckmann Vidal
Worth: 6.31 billion dollars (rank 330)
The holding company Becle, which governs Jose Cuervo, the biggest tequila producer in the world, is where the majority of Beckmann's wealth comes from. On February 9, 2017, Cuervo started trading publicly as Becle SAB and reported 2021 sales of 39 billion pesos.
Becle is owned by Beckmann and his family to the tune of 85%. The billionaire gave his daughter a 35 percent share in the business in May 2019, but he still has authority over voting and is still the chairman of the board. The Mexican alcohol wholesaler Proximo Spirits is likewise owned by the Beckmann family.
