|October 19, 1955
|Mexico City, Mexico, Mexico
|Ricardo Salinas Pliego age
|68 YEARS OLD
|Mexico City, Mexico
|Tecnológico de Monterrey Tulane University (MBA)
|Chairman/founder of Grupo Salinas
|Ninfa Sada Garza María Laura Medina
|Ninfa, Benjamín, Hugo, Ricardo, Cristóbal and Mariano
|Hugo Salinas Price Esther Pliego
Ricardo Salinas Pliego's net worth is estimated to reach an astonishing $10.9 billion by 2024. Known as a prominent figure in the fashion and retail industry in Mexico, Salinas Pliego has built a vast empire through his entrepreneurial ventures. With a keen eye for market trends and consumer preferences, he has successfully established and grown numerous retail brands, becoming a leading force in Mexico's fashion scene. Salinas Pliego's net worth is a testament to his business acumen and unwavering dedication to his craft, solidifying his position as one of the wealthiest individuals in Mexico.
If you want to see the debate, watch it on Televisa; if not, watch the game on TV Azteca. I'll give you the ratings the following day.
The origins of Grupo Salinas are set in 1906, when Salinas’ great grandfather, Benjamín Salinas, created Salinas & Rocha, a modest family-owned furniture Manufacturing company. In 1950, Salinas’ grandfather, Hugo Salinas Rocha, created Grupo Elektra, and when Ricardo Salinas became CEO of the company in 1987, Elektra had fewer than 60 stores and averted financial distress following the devaluation of the peso. Salinas refocused Elektra on basic products: appliances, electronics, and furniture. Significantly, he developed a vast new consumer market among Mexico’s lower-middle income consumers by providing credit sales (guided by careful risk-management practices) and diverse financial products and services, including money transfers via an alliance with Western Union. In just a few years, through organic expansion and acquisitions, Salinas built Grupo Elektra into Latin America’s largest specialty retailer.
Ricardo Salinas Pliego is a CPA graduate of the ITESM. After earning his MBA at Tulane University, he joined Elektra in 1981 as import manager. He learned the Business moves when the company was in dire financial straits at the continuing devaluation of 80. Between 1981 and 1986, Salinas experimented with other businesses such as a restaurant in Monterrey, satellite dishes and the sale of systems multi communication.
In 1987 Ricardo succeeded his Father Hugo Salinas Price as CEO of Grupo Elektra. The company began as a family-owned furniture Manufacturing company called Salinas & Rocha founded in 1906 by Salinas’ great-grandfather, Benjamin Salinas. In 1950, Hugo Salinas Rocha created Grupo Elektra and when Ricardo Salinas became CEO of the company in 1987 he refocused Elektra on basic products: appliances, electronics, and furniture. Significantly, he developed at Elektra a vast new consumer market among Mexico’s lower middle income consumers by providing credit sales and diverse financial products and services.
Salinas also formed the nonprofit Fundación Azteca in 1997 to address a broad range of social problems with ongoing campaigns in Health care and nutrition, education, and the protection of the environment. It is a foundation that finances and supports other foundations.
In 2001, TV Azteca launched Azteca America, a wholly owned Spanish-language broadcasting network aimed at the 40 million-strong Hispanic population of the US. Azteca America has affiliates in 62 markets, including Los Angeles, New York, Chicago, Miami, and Houston, reaching 90 percent of the Hispanic population in the US.
In 2003, Salinas bought Iusacell (the first cell phone company in Mexico) and four years later, merged it with Unefon, another cell phone company, founded by him in 1999. However, in early 2015, Grupo Salinas announced the sale of Iusacell to AT&T Today, with Totalplay, offers the most innovative internet and television services and telephony via fiber optics to home. Also, Enlace provides internet access to institutions and companies with a higher speed at 10 Gbit/s, telephone and TV.
Salinas has been involved in a series of political and financial scandals (which include investigations by the American Securities and Exchange Commission and the Mexican Comisión Nacional Bancaria y de Valores), and has been linked to ex-President Carlos Salinas de Gortari. Salinas was charged by the American Securities and Exchange Commission in January 2005 with being engaged in an elaborate scheme to conceal Salinas’s role in a series of transactions through which he personally profited by $109 million. The SEC complaint also alleged that Salinas and Padilla sold millions of dollars of TV Azteca stock while Salinas’s self-dealing remained undisclosed to the market place. This was settled in September 2006 with Salinas required to pay $7.5M while not admitting guilt. As part of the settlement, Salinas was forbidden for five years to serve as officer or Director of any United States publicly listed company. Esteban Moctezuma (ex-Secretary of Interior of PRI President Ernesto Zedillo), was appointed as Chief Executive Officer of Fundación Azteca in 2002 by Salinas Pliego. His daughter, Ninfa, entered to the PVEM party (linked to the PRI party, some old but now of recent political endeavor) in 2009.
On November 18, 2008 it was announced that Salinas purchased 28 percent of the bankrupted American retailer Circuit City. Ultimately Salinas lost $41 million on his Circuit City stake after his attempts to restructure debt with store suppliers failed and he consequently abandoned plans to buy the company.
On 3 May 2012, the IFE acknowledged that TV Azteca decided to air the presidential debate on XHTVM-TV, commonly referred to as Proyecto 40. On his defense, Salinas said on 4 May 2012 that the "majority of the population is not interested in the presidential debate." He claimed that only 15% of the population is interested in the debate, while 54% of them claim they are not interested at all. If the statistics were different, he said, then he would have adjusted his strategy. Salinas then said that his Business "understands well" the preferences of the population and takes decisions accordingly.
Most recently, Salinas created the Empresario Azteca program and its parallel, Empresario Azteca Association (ASMAZ), as a broad program to support small businesses the core of Mexico’s economy. This initiative applies the breadth and depth of Grupo Salinas’ management expertise, financing capabilities, market strength, purchasing power, and its extensive distribution network to provide training, consulting, financing, equipment procurement, and other resources to small businesses throughout the country.