Are you curious about Germán Larrea Mota Velasco net worth? As one of Mexico’s wealthiest individuals, his financial achievements are quite remarkable.
This overview by World of CEOs dives into the details of his vast empire and assets.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Germán Larrea Mota-Velasco |
| Popular Name | Germán Larrea |
| Gender | Male |
| Birth Date | October 26, 1953 |
| Age | 70 |
| Parents | Sara Mota de Larrea |
| Siblings | Genaro Larrea Mota Velasco |
| Birthplace | Mexico City, Mexico |
| Nationality | Mexican |
| Ethnicity | N/A |
| Education | N/A |
| Marital Status | Married |
| Sexual Orientation | Straight |
| Wife/Spouse | N/A |
| Children | 3 |
| Dating | N/A |
| Net Worth | $28.6 billion |
| Source of Wealth | Mining, Railroads, Investments |
| Height | N/A |
What is the Net Worth Of Germán Larrea Mota Velasco in 2024?
As of 2024, Germán Larrea Mota Velasco has an estimated net worth of $28.6 billion. This impressive figure places him among the wealthiest individuals in Mexico and globally.
To put this into perspective, Carlos Slim, another prominent Mexican billionaire, has a net worth of around $93.6 billion, while Ricardo Salinas Pliego stands at approximately $11.5 billion.
These comparisons highlight Larrea’s significant financial standing within the top echelons of the business world.
Germán Larrea Mota Velasco Finance Overview
Key Business Ventures Contributing to His Wealth
Grupo México
Germán Larrea is the CEO of Grupo México, a behemoth in the mining industry. This corporation is not only Mexico’s largest mining company but also one of the top copper producers globally.
Grupo México’s mining operations span several countries, including Mexico, Chile, and Peru. These extensive operations significantly contribute to Larrea’s wealth.
The company has 13 active mines and 10 more under exploration, ensuring continuous revenue streams.
In addition to its mining ventures, Grupo México also owns significant railroad assets. The company controls over 5,000 kilometers of railroads, covering 71% of Mexico.
This transportation network plays a crucial role in the logistics of mining operations and adds to the company’s profitability.
Southern Copper Corporation
Another cornerstone of Larrea’s financial empire is the Southern Copper Corporation. As a key player in this corporation, Larrea has seen substantial financial benefits.
His involvement includes being the chairman since December 1999 and serving as CEO from December 1999 to October 2004.
The company’s performance in the copper market directly impacts Larrea’s wealth. With his stake in Southern Copper Corporation valued at approximately $121 million, it’s a vital part of his financial portfolio.
Railroads and Transportation Investments
Larrea’s investments are not limited to mining. His ownership of Grupo Ferroviario Mexicano highlights his strategic diversification.
Since 1997, he has served as chairman and CEO, overseeing the company’s operations. The extensive railroad network owned by Grupo México plays a vital role in transporting mined materials and contributes significantly to the company’s revenue.
Other Significant Investments
Thoroughbred Breeding
Outside of his corporate responsibilities, Larrea is an avid investor in thoroughbred breeding. Under the name St. George Stable, he owns and breeds top-quality horses.
His mare, Letruska, became a notable success story by winning the Apple Blossom Handicap in 2021. This venture not only reflects Larrea’s diverse interests but also adds another dimension to his wealth generation.
Banco Nacional de México and Grupo Financiero Banamex
Larrea has also held prominent positions in financial institutions like Banco Nacional de México.
His roles within this bank and Grupo Financiero Banamex have provided him with valuable insights and influence in the financial sector.
These positions have further solidified his financial standing and contributed to his overall wealth.
Historical and Strategic Business Moves
Larrea’s entrepreneurial journey began with the founding of Grupo Impresa in 1978. He served as chairman and CEO until 1989, when he sold the company.
This early venture laid the foundation for his future successes and provided him with the initial capital to invest in larger projects like Grupo México.
Key Financial Metrics and Figures
Net Worth Evolution
Germán Larrea‘s net worth has seen substantial growth over the years. From early investments to strategic acquisitions, his financial journey is marked by continuous expansion.
Key financial milestones include the significant increase in the value of his stakes in Grupo México and Southern Copper Corporation.
Asset Distribution
The distribution of Germán Larrea‘s assets is diverse. Major assets include his holdings in Grupo México, extensive railroad networks, stakes in financial institutions, and investments in thoroughbred breeding.
This diversified portfolio ensures a steady flow of income and reduces financial risk.
Influence in the Mexican Economy
Germán Larrea is a prominent figure in various business organizations, including the Consejo Mexicano de Hombres de Negocios.
His influence extends beyond his companies, impacting the broader Mexican business landscape. His leadership and financial acumen have made significant contributions to the national economy.
FAQs about Germán Larrea Mota Velasco
Who is Germán Larrea Mota Velasco?
Germán Larrea Mota Velasco is a Mexican billionaire businessman. He is the CEO of Grupo México, the largest mining company in Mexico and a major global copper producer.
Born in 1953, Larrea has expanded his family business into a global enterprise.
How did Germán Larreabuild his wealth?
Larrea inherited his mining empire from his father, Jorge Larrea Ortega. He expanded the company, making smart investments in mining, transportation, and real estate.
His business skills and strategic vision boosted his wealth, making him one of Mexico’s richest individuals.
What companies does Germán Larrea own or lead?
Germán Larrea leads Grupo México and several other companies, including Grupo Ferroviario Mexicano and Southern Copper Corporation.
He also owns significant stakes in Grupo Aeroportuario del Pacifico and ventures in the energy, real estate, and financial sectors.
What are some controversies associated with Germán Larrea ?
Larrea has faced criticism for environmental issues. In 2006, a toxic spill from a Grupo México mine in Sonora caused major environmental damage.
The company was fined and set up a remediation fund, but it still faces scrutiny over its environmental practices.
What philanthropic efforts is Germán Larrea Mota Velasco known for?
He is active in philanthropy, focusing on education, healthcare, and social development, especially in communities near his company’s operations.
Despite controversies, he has donated millions through Grupo México to build schools, hospitals, and housing.
How does Germán Larrea maintain his privacy?
Larrea is famously private, often avoiding the public eye and media. He rarely makes public appearances or statements, keeping his focus on business matters.
What are some of Germán Larrea’s personal interests?
He is an art collector and horse breeder. He owns St. George Stable, which has produced winning thoroughbreds, including Letruska, a mare that won Grade I races in the United States.
What are Germán Larrea Mota Velasco’s contributions to the business community?
Larrea is respected for his strategic vision and commitment to corporate responsibility. His efforts in expanding Grupo México and advocating for responsible business practices have earned him numerous accolades.
Conclusion
Germán Larrea Mota Velasco remains a pivotal figure on the richest CEOs list, with a net worth that reflects his significant impact on the mining sector.
Explore more about his financial journey and other influential CEOs at worldofceos.com.
