Germán Larrea Mota-Velasco (born 1953/1954) is a Mexican

billionaire A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busin ...

businessman. He is the CEO of

Grupo México Grupo México is a Mexican conglomerate that operates through the following divisions: Mining (Minera Mexico), Transportation ( GMxT), Infrastructure and Fundacion Grupo Mexico. Its mining Division is the leading Copper producer in Mexico and t ...

, Mexico's largest mining corporation, and the third largest

copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkis ...

producer in the world. As of July 2022, his net worth was estimated at US$24.6 billion.

Career

Larrea Mota-Velasco has been chairman, president and CEO of Grupo Mexico since 1994. He was previously executive vice chairman of Grupo Mexico and has been a director since 1981. He has served as chairman of the

Southern Copper Corporation Southern Copper Corporation is a mining company that was founded in 1952. The current incarnation of Southern Copper can be traced to the 2005 acquisition of Southern Peru Copper Corporation by the Mexican copper producer Minera México. 88.9 pe ...

since December 1999, CEO from December 1999 to October 2004, and as a director since November 1999. He has been chairman and CEO of Grupo Ferroviario Mexicano since 1997. He has been chairman and CEO of Empresarios Industriales de Mexico, Compania Perforadora Mexico, Mexico Compania Constructora, and Fondo Inmobiliario since 1992. He founded Grupo Impresa, a printing and publishing company in 1978, remaining as the chairman and CEO until 1989, when the company was sold. He is also a director of Banco Nacional de Mexico, which forms part of

Grupo Financiero Banamex Grupo Financiero Banamex S.A. de C.V. has its origins and is the owner of the Banco Nacional de México or Citibanamex (formerly Banamex). It is the second-largest bank in Mexico. The Banamex Financial Group was purchased by Citigroup in August ...

, Consejo Mexicano de Hombres de Negocios, and

Grupo Televisa Grupo Televisa is a Mexican multimedia mass media company. A major Latin American mass media corporation, it often presents itself as the largest producer of Spanish-language content. In April 2021, Televisa and Univision Communications announce ...

. According to ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

'', in February 2020 he is worth US$14.3 billion, and the second richest man in Mexico, after

Carlos Slim Carlos Slim Helú (; born 28 January 1940) is a Mexican business magnate, investor, and philanthropist. From 2010 to 2013, Slim was ranked as the richest person in the world by the ''Forbes'' business magazine. He derived his fortune from hi ...

. In November 2020, Larrea Mota-Velasco sold 100,000 shares in Southern Copper Corporation for a total price of $6 million, meaning he now owns a stake in the company worth almost $121 million.

Personal life

Larrea Mota-Velasco is married, and lives in Mexico City. He owns and breeds Thoroughbreds under the ''nom de course'' of St. George Stable. His mare

Letruska Letruska (foaled May 9, 2016) is an American-bred Thoroughbred racehorse who first made her reputation in Mexico, where she was named the champion three-year-old filly after winning the Clasico Esmeralda and Clasico Diamante in 2019. She then re ...

became the first horse that had raced in Mexico to subsequently win at the

Grade I In the United Kingdom, a listed building or listed structure is one that has been placed on one of the four statutory lists maintained by Historic England in England, Historic Environment Scotland in Scotland, in Wales, and the Northern Irel ...

level in the United States when she won the

Apple Blossom Handicap The Apple Blossom Handicap is a Grade I American Thoroughbred horse race for fillies and mares that are four years old or older, run under handicap conditions over a distance of one and one-sixteenth miles on the dirt track held annually in April ...

in 2021.

References

{{DEFAULTSORT:Larrea Mota-Velasco, German 1950s births Living people Mexican billionaires Mexican company founders Businesspeople from Mexico City Mexican transportation businesspeople Mexican mining businesspeople People named in the Pandora Papers