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#388 Juan Roig $4.70B

Random fact: Mercadona's shops first in Spain to use bar code scanners.

Overview

Roig is president of Mercadona, Spain's largest food retailer. The Valencia-based company operates more than 1,500 supermarkets across the country and had revenue of 21.6 billion euros ($23 billion) in 2016. The closely held chain sells its own-branded products, including Hacendado grocery line and Deliplus cosmetics.

As of July 21, 2017:
Last change +$111M (+2.4%)
YTD change +$839M (+21.7%)
Industry Food & Beverage
Biggest asset Mercadona
Citizenship Spain
Age 67
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Juan Roig's net worth of $4.70B can buy ...

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troy ounces of gold
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barrels of crude oil

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

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Roig's fortune is derived from his 50.7 percent stake in Valencia, Spain-based Mercadona, the largest food retailer in Spain according to the company website in April 2017. He owns his stake through a Valencia-based holding company, Finop SL, according to Orbis, a database of company information published by Bureau van Dijk. His wife, Hortensia Herrero, owns another 27.7 percent through her own holding company. That stake isn't credited to Roig to reflect Herrero's status as co-founder.

Mercadona had revenue of 21.6 billion euros ($23 billion) and net profit of 636 million euros in 2016. The closely held company is valued using its published 2016 financials and the average enterprise value-to-sales and enterprise value-to-Ebitda multiples of four comparable publicly traded companies: Dia, Jeronimo Martins, Carrefour and Sainsburys.

Mercadona distributes 10 percent of its pre-tax profit to shareholders each year, according to its 2015 results. Roig's share of these dividends has been calculated using Mercadona's financial results for the year, as published on its website. The value of his cash investments is based on an analysis of these dividends, market performance, insider transactions, taxes and charitable contributions, as well as his funding for the Valencia Basket Club and his Angels Capital venture fund.

The Mercadona spokeswoman disputes this valuation, and said the owners valued the firm at 3.1 billion euros in July 2012, when Herrero's brother-in-law Fernando Roig sold shares back to the company.

Biography

Birthdate: 1949
Family: Married, 4 children
Education: Graduated, Economics, Universitat de Valencia

Juan Roig was born in 1949 in the city of Valencia, Spain, the son of Francisco Roig and Trinidad Alfonso. His parents ran Industrias Carnicas Roig, a small chain of butcher shops that they converted into a regional grocery chain in 1977.

After completing a degree in economics, Roig, along with his wife Hortensia Herrero and siblings Fernando, Trinidad and Amparo, bought control of the shops in 1981. A number of innovations were introduced as the company began expanding outside of Valencia, including bar code scanners at cash registers in 1982, and an automated distribution center in nearby Ribarroja, Spain that they opened six years later.

Roig and his wife became the majority owners in 1991 when they bought out his siblings. To combat market share gains by international competitors such as Boulogne Billancourt, France-based Carrefour, Mercadona began lowering prices and offering cheaper store-branded product lines. It also made all staffers full-time employees, an unusual practice for Spanish retail companies, according to David Bain, London-based head of research at Campden Wealth, an organization for the world's wealthiest family businesses. The formula proved successful. Since the end of 2007, amid a recession, austerity programs and rising unemployment, revenue rose 36 percent, making it the country's largest food retailer.

Outside of Mercadona, Roig's main passion is sport. He has helped fund and support Valencia Basket Club, the city's basketball team, and is a regular spectator at their games.

Milestones
  • 1949 Juan Roig is born in the Spanish city of Valencia.
  • 1977 Father converts family-run butcher shops into grocers.
  • 1981 With three siblings and his wife, buys control of Mercadona from father.
  • 1982 First company in Spain to use bar code scanners in its stores.
  • 1986 Supports the founding of Valencia's pro basketball club.
  • 1988 Opens the first automated distribution center in Spain.
  • 1990 Becomes majority shareholder after buying out siblings.
  • 1993 Introduces Mercadona's mantra, "Always Low Prices."
  • 1996 Private-label brands are introduced in stores.
  • 2011 Stores begin charging customers for plastic shopping bags.