Ricardo Salinas Pliego

About Ricardo Salinas Pliego

Birth Day: October 19, 1955
Birth Place: Mexico City, Mexico, Mexico
Birth Sign: Scorpio
Residence: Mexico City, Mexico
Citizenship: Mexican
Education: Tecnológico de Monterrey Tulane University (MBA)
Occupation: Chairman/founder of Grupo Salinas
Spouse(s): Ninfa Sada Garza María Laura Medina
Children: Ninfa, Benjamín, Hugo, Ricardo, Cristóbal and Mariano
Parent(s): Hugo Salinas Price Esther Pliego
Website: http://www.ricardosalinas.com

Ricardo Salinas Pliego Net Worth

Ricardo Salinas Pliego was bornon October 19, 1955 in Mexico City, Mexico, Mexico. Ricardo Salinas Pliego runs two large Mexican companies: the number two TV broadcaster, TV Azteca, and retailer Grupo Elektra. Both are publicly traded. In an attempt to give TV Azteca a jolt, in October 2015 he named his son, Benjamin Salinas Sada, 32, the CEO. The largest part of his fortune still lies in appliance retailer and banking company Grupo Elektra, which targets less prosperous consumers who borrow money from his banking arm, Banco Azteca, to buy items like TVs and refrigerators at his Elektra stores. Elektra was founded in the 1950's by Ricardo's grandfather, Hugo Salinas Rocha.
Ricardo Salinas Pliego is a member of Fashion and Retail

💰 Net worth: $5.6 Billion (Updated at 22 June 2018)

2009 $4.2 Billion
2010 $10.1 Billion
2011 $8.2 Billion
2012 $17.4 Billion
2013 $9.9 Billion
2014 $8.3 Billion
2015 $8 Billion
2016 $4.3 Billion
2017 $3.6 Billion
2018 $6.18 Billion

Famous Quotes:

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.

Biography/Timeline

1906

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.

1955

Ricardo Benjamín Salinas Pliego was born on 19 October 1955 in Mexico City, Mexico.

1981

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.

1987

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.

1997

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.

2001

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.

2003

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.

2005

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.

2008

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.

2012

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.

2015

He is the fourth richest person in Mexico and 168th richest person in the world with an estimated net worth of US $8 billion in March 2015.

2019

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.

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