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#393 German Mota-Velasco $4.68B

Random fact: Bought Southern Copper's parent Asarco in 1999 for $2.2 billion.


German Larrea is the chairman of Grupo Mexico, a publicly traded conglomerate, which had revenue of $8.2 billion in 2016. It controls Phoenix-based Southern Copper, and also mines for zinc, molybdenum, silver and gold in Mexico, Chile and Peru. He controls closely held Grupo Cinemex, a Mexican chain of movie theaters.

As of July 23, 2017:
Last change -$32.9M (-0.7%)
YTD change +$1.52B (+48.3%)
Industry Commodities
Biggest asset GMEXICOB MM Equity
Citizenship Mexico
Age 63
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

German Mota-Velasco's net worth of $4.68B 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:

The majority of German Larrea's fortune is derived from his stake in publicly traded Grupo Mexico, which was founded by his father, Jorge. The billionaire owns 15 percent of the company directly, while his mother, Sara Mota, controls 39 percent, according to the company's 2016 annual report. Larrea also holds less than 1 percent stake of Southern Copper Corp., according to a Schedule 14A filed on March 30, 2017 with the U.S. Securities and Exchange Commission.

Larrea spent $315 million in 2008 to acquire Grupo Cinemex, and the value of his cash investments is based on an analysis of dividends, reinvestments, stock sales and market performance.

Cinemex controlled 42 percent of Mexico's movie theater market in 2015, giving it revenue of about 6.4 billion pesos ($343 million), according to data from Canacine, a Mexican industry association. Revenue is calculated using national ticket sales and Cinemex market share data from trade organization Canacine and is valued using the average enterprise value-to-sales, enterprise value-to-Ebitda and price-to-earnings multiples of Cinemark, Regal Entertainment, and Cineplex. 

The valuation was updated on May 10, 2017 to reflect latest dividend receipts, financials and share counts.

Yamel Cotero, Grupo Mexico's investor-relations director, declined to comment on the net worth valuation of German Larrea and Sara Mota de Larrea in a September 2016 e-mail.


Birthdate: 10/26/1953
Family: Unmarried, No children

German Larrea is the only surviving son of Jorge Larrea, who was known as Mexico's copper king until his death in 1999. The patriarch's Grupo Mexico empire began with a construction business that he founded in 1942. He expanded into mining in the decades that followed, buying copper-mining assets from the Mexican government during a privatization sale that began in the late 1980s. He first listed his holding company on the Mexico City exchange in 1978.

German Larrea took the reins of a newly reorganized Grupo Mexico in 1994. The company's shares have increased 25-fold under his watch. His $2.2 billion acquisition of Tucson, Arizona-based Asarco in 1999 gave him a stake in Southern Copper, which is now Grupo Mexico's largest asset. In recent years, the press-shy Larrea family has been embroiled in a series of legal battles with minority shareholders, other companies and striking labor unions.

  • 1906 Company's Cananea mine has endured labour strikes since 1906.
  • 1988 Buys Mexicana de Cobre copper interest from the government.
  • 1990 Purchases the Cananea mine, also privatized by the government.
  • 1994 German takes the reins of what is now called Grupo Mexico.
  • 1999 Buys Asarco for $2.2 billion, taking a stake in Southern Copper.
  • 1999 Jorge Larrea dies; his widow Sara Mota inherits his stake.
  • 2005 Asarco goes bankrupt.
  • 2009 Asarco emerges from bankruptcy and Grupo Mexico regains control.