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# Antonio del Valle

Random fact: Received Mexichem shares in 2002 as payment for his stake in a bank.

Overview

Del Valle is honorary chairman of Mexichem, a Mexican chemicals manufacturer. The publicly traded company makes chemical and petrochemical products, has operations in more than 30 countries, and reported revenue of $5.3 billion in 2016. He also has stakes in chemicals distributor Pochteca and construction materials maker Elementia.

As of Jan. 21, 2018:
Last change ()
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Industry Industrial
Biggest asset N/A
Citizenship Mexico
Age 78
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Antonio del Valle's net worth of can buy ...

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Net Worth Summary

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Biography

Birthdate: 8/13/1938
Family: Unmarried, 5 children
Education: Instituto Panamericano de Alta Direccion de Empresa, Bachelor's Degree, Management

Antonio del Valle Ruiz was born in Mexico City in 1938. After studying accounting, he worked at his parents' textile business before starting a bank in 1974. He was forced to turn the venture over to the government as part of an industry-wide nationalization, eight years later. He invested some of the cash he received as compensation in three small chemicals companies. When the government re-privatized the country's banks in 1992, he leapt back into finance, investing $300 million for a 25 percent stake in a lender that came to be known as Bital.

HSBC bought this bank in 2002. As payment for his stake, del Valle received shares in a chemicals company known as Camesa. He combined the company with his investments from the 1980s and proceeded to cobble together Mexichem -- now Latin America's largest maker of plastic pipes -- through more than two dozen acquisitions. He's been building up Pochteca, a chemicals distributor, in a similar fashion.

With the backing of fellow-billionaire Carlos Slim, del Valle has been expanding Elementia, which makes and sells construction materials that include cement, copper and aluminum. He also has a bank, Ve Por Mas, which means Go For More.

All of these businesses form part of del Valle's holding company, Kaluz, where he is chairman. At Mexichem, he also holds the title of lifetime honorary chairman. Two brothers, three sons and two daughters sit on Mexichem's board, in addition to other positions throughout the group.

Milestones
  • 1938 Antonio del Valle Ruiz is born in Mexico City.
  • 1956 Receives accounting degree from Escuela Bancaria & Comercial.
  • 1974 One of the founders of Bancrecer lender through several mergers.
  • 1982 Forced to hand over Bancrecer in government nationalization.
  • 1992 Acquired Grupo Internacional for $300 million, later called Bital.
  • 2003 Del Valle boosts Camesa stake to 94 percent from 50 percent.
  • 2005 Grupo Industrial Camesa changes its name to Mexichem.
  • 2012 Mexichem buys Netherlands-based Wavin for $703 million.
  • 2012 A secondary stock offering allows Mexichem to raise $1.2 billion.