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#509 David Martinez $3.95B

Random fact: Once spent $140 million on a Jackson Pollock painting.


Martinez is the chief executive officer and founder of Fintech Advisory, a New York-based hedge fund that focuses on distressed debt. Closely held Fintech invests in companies including Buenos Aires-based Telecom Argentina, the country's largest telecommunications business, and Mexico City-based glass maker Vitro.

As of Nov. 18, 2017:
Last change -$48.0M (-1.2%)
YTD change +$1.46B (+58.4%)
Industry Finance
Biggest asset TECO2 AR Equity
Citizenship Mexico
Age 60
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

David Martinez's net worth of $3.95B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Martinez's fortune is mostly derived from stakes in a handful of publicly traded and closely held companies held through Delaware-based hedge fund Fintech Advisory. He's the sole shareholder of Fintech, according to a July 3, 2017 filing with Argentina regulators related to the company's controlling interest in Telecom Argentina, the country's biggest telecommunications company. Fintech bought Telecom Italia Group's stake in the company in March 2016. The valuation was updated in June 2017 to reflect the ownership disclosure.

A representative for the billionaire disputed the valuation in a July 2017 email because it assumes "100 percent of the investment in the fund" came from Martinez, that "the value of Fintech has the market value of the merged companies" and doesn't consider all debt. He declined to provide details and further information about Fintech's ownership and debt isn't publicly available.

Martinez has a 40 percent stake in Buenos Aires-based Cablevision. The closely held cable company had revenue of $2.1 billion in the 2016 fiscal year ended March 31, 2016, according to Moody's Investor Service and is valued using the enterprise value-to-sales and enterprise value-to-Ebitda multiples of two publicly traded peer companies: Megacable and Comcast.

Through Fintech, and in addition to Telecom Argentina, Martinez controls stakes in Mexican glassmaker Vitro and Spanish bank Banco de Sabadell. Martinez is also an art collector who's been named as the buyer of Mark Rothko's No. 17 for $32.6 million, William de Kooning's Woman III for $159.8 million and Jackson Pollock's No. 5 for $162.7 million. Because current ownership details couldn't be confirmed, the art isn't included as an asset or an expense.

A liability of $2.1 billion is included to reflect the cost of acquiring equity stakes and debt positions. The Martinez representative said in July 2017 that the billionaire's fortune is less than calculated and declined to provide further details.


Birthdate: 5/8/1957
Family: Unmarried, No children

Martinez was born in 1957. He grew up in Monterrey, which is home to some of Mexico’s largest industrial companies. Power there is heavily concentrated among businessmen in the so-called Group of 10, a club that includes the Sada family, which controls Vitro, according to an article by the New York Times in October of 2012.

The Sadas relied on Martinez to help them maintain control of another of their companies that went bankrupt in 2004.

As a young man, Martinez was a member of Regnum Christi, an evangelical group related to the Legionaries of Christ, an influential Roman Catholic order in Mexico. After earning an engineering degree from the Tecnológico de Monterrey, Martinez moved to Rome to study philosophy at the Pontifical Gregorian University and considered becoming a priest.

But he was drawn to Wall Street instead, and earned a third degree from Harvard Business School before taking a job at Citigroup on the emerging-markets desk in New York. There, he began his long affair with distressed debt in far-flung places. He left the bank in 1985 and eventually founded Fintech using a $300,000 loan from his grandmother, according to CNN Expansion.

  • 1957 Martinez is born.
  • 1985 Leaves Citigroup emerging markets desk in New York.
  • 1987 Founded Fintech with a $300,000 loan from his grandmother.
  • 2003 Paid about $42 million for duplex in Time Warner Center.
  • 2006 Bought Jackson Pollock for $140 million.
  • 2013 Writes Financial Times op-ed opposing Argentina holdouts like Paul Singer.
  • 2014 Buys a minority stake in Italian bank Monte dei Paschi di Siena.
  • 2016 Signs a $215 million convertible loan deal with Empresas ICA.