Bloomberg Billionaires Index

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#119 Sara Mota de Larrea $11.5B

Random fact: The group's Cananea mine has been plagued by strikes since 1906.

Overview

Mexico's richest woman is the biggest shareholder in Grupo Mexico, a publicly traded conglomerate. The company operates zinc, molybdenum, silver and gold mines in Mexico, Chile and Peru, and had revenue of $8.2 billion in 2016. Its other businesses include a Mexican railroad operator and an oil-drilling company.

As of July 23, 2017:
Last change -$68.4M (-0.6%)
YTD change +$1.69B (+17.2%)
Industry Commodities
Biggest asset GMEXICOB MM Equity
Citizenship Mexico
Age 0
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sara Mota de Larrea's net worth of $11.5B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
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 Mota's fortune is derived from her 39 percent stake in publicly traded Grupo Mexico. The Mexico City-based company was founded by her late husband Jorge Larrea. Her son German Larrea has a 15 percent stake credited to him separately because he serves as chairman of the business.

Mota controls her stake in Grupo Mexico through holding company Empresarios Industriales de Mexico, which is registered in Tucson, Arizona. Since her husband's death in 1999, documents filed with Arizona's company registry show Mota as the only person with at least 20 percent of the investment vehicle's shares and she is attributed full ownership in the net worth analysis.

The value of her cash investments is based on an analysis of dividends from the company, reinvestments, stock sales and market performance.

Grupo Mexico's investor-relations department declined to comment on the fortunes of Sara Mota de Larrea and German Larrea in an e-mail response in September 2016.

Biography

Birthdate:
Family: Widowed, 2 children

Sara Mota is the widow of Jorge Larrea, known as Mexico's copper king until his death in 1999. The Grupo Mexico empire began with a construction business that Larrea founded in 1942. He expanded into mining over the decades that followed, snapping up copper-mining assets from the Mexican government during a privatization drive that began in the late 1980s. Larrea first listed his holding company on the Mexico City exchange in 1978.

Jorge Larrea's son German took the reins of a newly reorganized Grupo Mexico in 1994. Under his watch, the company's shares have increased 25-fold. His $2.2 billion acquisition of Tucson, Arizona-based Asarco in 1999 gave him a stake in Southern Copper Corp., 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.

Milestones
  • 1942 Jorge Larrea founds a Mexican construction business.
  • 1965 With partners, he buys 51 percent of Asarco's Mexico unit.
  • 1978 Lists shares of Grupo Mexico's predecessor in Mexico City.
  • 1990 Purchases the Cananea mine, also privatized by the government.
  • 1994 Son German takes the reins of what is now called Grupo Mexico.
  • 1999 Jorge Larrea dies; his Grupo Mexico shares pass to Sara Mota.
  • 2005 Company boosts stake in Southern Copper; Asarco goes bankrupt.
  • 2009 Asarco emerges from bankruptcy; Grupo Mexico regains control.
  • 2011 Grupo Mexico begins takeover of Aeroportuario del Pacifico.
  • 2012 Company withdraws offer for regional airport operator.