Grupo Mexico is Mexico’s largest copper mining corporation and the most significant contributor to billionaire Germán Larrea Mota Velasco’s net worth. Germán Larrea Mota Velasco has earned public admiration as one of the world’s wealthiest men, making many curious about his net worth.
Germán Larrea Mota Velasco’s net worth is $28.5 billion, mostly from his 19% stake in Grupo Mexico. Although this billionaire’s primary source of wealth is mining, other investments, like Grupo Cinemex and his Southern Copper Corporation stake, contribute to it.
Germán Larrea is a 69-year-old Mexican citizen, a married man, and a graduate of engineering from Anahuac University. Read on to learn more about Germán Larrea Mota Velasco, his assets, and his origins.
Before peering into Germán Larrea Mota Velasco’s net worth, understanding who he is is necessary. Germán Larrea Mota Velasco is a bearer of the Larrea family name, the only surviving son of Jorge Larrea. He is also a graduate of engineering from Anahuac University.
Germán Larrea’s father, Jorge Larrea, was famous as Mexico’s copper king before he died in 1999. Jorge started this family empire when he founded a construction empire in 1942. Later on, he expanded into mining, and in 1978, he listed his company (Grupo Mexico) on the Mexico City Exchange.
The company continued to grow until Germán Larrea Mota Velasco took the reins of Grupo Mexico in 1994. Under his leadership, the company flourished, and its assets increased 25-fold. By 1999, he had also acquired a stake in Southern Copper by purchasing the Arizona-based Asarco.
Knowing your net worth is good, as it keeps you aware of your financial status and helps you plan for the future. This way, you’ll learn how likely it is to achieve your long-term or short-term goals. The knowledge of an individual’s net worth can also make an inspiring story for others who wish to copy that success.
Net worth is the calculated difference between what you “own” and that which you “owe.” You get your net worth by combining the worth of your cash, investment and other assets and subtracting it from your debts. If you want to make things easy, use the Comparewise net worth calculator.
Germán Larrea Mota Velasco’s net worth is $28.5 billion. This comes from his Grupo Mexico, where he has a 19% stake, and his Southern Copper Corporation stake, which is less than 1%. Other assets contributing to this number are Grupo Cinemex, which he bought in 2008 for $315 million.
Germán Larrea Mota Velasco’s net worth is $28.5 billion, from his personal assets, not his family assets. Although the Velasco family’s net worth should have made them famous, this family is press-shy and avoids the limelight.
Grupo Mexico caused a copper spill in Sonora, Mexico, which contaminated two nearby rivers. It had to compensate nearby residents with $150 million.
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Grupo Mexico is controlled by the Velasco family, and Germán Larrea Mota Velasco is its chairman.
Yes, Grupo Mexico is a publicly traded company, and it’s listed on the Mexican Stock Exchange.
The Germán Larrea Mota Velasco family's net worth mostly comes from their 60% stake in Grupo Mexico.