Jeronimo Arango

About Jeronimo Arango

Birth Year: 1925
Birth Place: Los Angeles, California, Mexico
Residence: Los Angeles, US
Occupation: Co-founder, Aurrerá
Relatives: Manuel Arango and Placido Arango (brothers)

Jeronimo Arango Net Worth

Jeronimo Arango was bornon 1925 in Los Angeles, California, Mexico. Jeronimo Arango and his two brothers, Manuel and Placido, sold a majority stake in discount retailer Cifra to Wal-Mart's Mexican arm in 1997 for a reported $1.2 billion in cash. Jeronimo founded the predecessor to Cifra with his brothers in 1958. The brothers stay out of the spotlight. Jeronimo is said to live a quiet life in Los Angeles. Manuel, a real estate developer, founded the Mexican Center For Philanthropy and is an advocate of philanthropy targeted at social issues and the environment. Placido has owned a chain of restaurants and collects art.
Jeronimo Arango is a member of Fashion and Retail

💰 Net worth: $4.4 Billion (Updated at 22 June 2018)

2009 $3.4 Billion
2010 $4 Billion
2011 $4 Billion
2012 $4 Billion
2013 $4 Billion
2014 $4.2 Billion
2015 $4.3 Billion
2016 $4.4 Billion
2017 $4.2 Billion
2018 $4.38 Billion

Some Jeronimo Arango images

Biography/Timeline

1958

Arango founded his Aurrerá discount stores in 1958 after a trip to New York where he witnessed people standing in long lines to obtain discounts at stores; he decided to open one that sold at discount, emphasizing cost over other niceties. The stores flourished and eventually his family's company, Grupo CIFRA, encompassed the largest supermarket chain in Mexico (including Aurrerá and Superama stores) as well as restaurants (VIPs and El Portón) and fashion stores (Suburbia).

1970

Manuel, Jerónimo's brother is the President of the Mexican Center for Philanthropy as well for more than ten different non-profit organizations. He won two Academy Awards in the 1970s for the production of a well-known documentary about pre-Hispanic life.

1991

By 1991 Arango partnered with Sam Walton's Wal-Mart empire, a move which eventually brought the Wal-Mart Retail stores to Mexico. The Mexican chain was later renamed Walmex and became the starting point for Wal-Mart's expansion in Mexico. By 1997 the Arango family decided to sell majority shareholding of CIFRA to Wal-Mart in a transaction worth over $2 billion.