Page 24 - OCEAN BLUE - SPRING 2014

FROM THE CHAIRMAN

“Mexico’s middle class is becoming the new

majority.¨ This is a bold statement that begs further explanation.
Before I expand on this subject, I would like to explain where
the money that is causing such a dramatic shift comes from.
Included in this article, you will find the latest Forbes list of
the ten wealthiest families in Mexico. You will notice that
approximately half of the fortunes have been self-made; the
rest inherited. Irrespective of which category you look at, the
common denominator is that money is being actively invested
in the growing Mexican economy. In the following paragraphs,
I will highlight the industries in which these families are active.
First on the list, Carlos Slim, Mexico’s richest man, owns America
Movil, the largest mobile-phone operator in the Americas. He
also maintains holdings in banking, mining and construction.
Ranked in second place, Alberto Bailleres, who owns a
diversified empire ranging from mining to insurance, pensions
and retail.
The Larrea Mota-Velasco family controls 51% of the world’s
largest copper mining corporation.
Ricardo Salinas-Pliego operates a banking and retail
conglomerate, owns TV Azteca and half of mobile-phone
carrier Iusacell.
Eva Gonda Rivera’s family controls 50% of the biggest
independent Coca-Cola distributor in the region.
After selling Grupo Modelo, the largest Mexican corporation
sale ever, María Asunción Aramburuzabala’s family invested
in technology infrastructures, telecommunications, real estate
development and land reserves.
The Arango family profits from Wal-Mart Mexico’s growth.
Emilio Azcárraga, owns TV broadcaster Televisa and 50% of
mobile-phone company Iusacell.

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