Hugo Salinas Price (born March 11, 1932) is a Mexican business magnate, investor, and philanthropist. He is the founder of Mexico's Elektra retail chain. He also owns the second largest gold mine and silver mines in the state of

Durango Durango (), officially named Estado Libre y Soberano de Durango ( en, Free and Sovereign State of Durango; Tepehuán: ''Korian''; Nahuatl: ''Tepēhuahcān''), is one of the 31 states which make up the 32 Federal Entities of Mexico, situated in ...

Biography

Salinas was born on March 11, 1932 in

Bryn Athyn, Pennsylvania Bryn Athyn is a home rule municipality in Montgomery County, Pennsylvania. It was formerly a borough, and its official name remains "Borough of Bryn Athyn". The population was 1,375 at the 2010 census. It was formed for religious reasons fro ...

, his mother's home town. His uncle Benjamin Salinas Westrup, along with his step-brother Joel Rocha, founded the furniture company Salinas y Rocha, which grew rapidly thanks to the possibility to pay with credit. He graduated from the

Academy of the New Church Secondary Schools The Academy of the New Church, Secondary Schools is an accredited, private, day and boarding, 9th through 12th-grade Girls School and Boys School, located in Bryn Athyn, Pennsylvania, United States. The school is affiliated with the General Chu ...

in 1949.''New Church Life'' 1949, p. 380 He studied at the

Wharton School The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in P ...

from

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universitie ...

, at the

Instituto Tecnológico y de Estudios Superiores de Monterrey Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) ( en, Monterrey Institute of Technology and Higher Education), also known as Tecnológico de Monterrey or just Tec, is a secular and coeducational private university based in ...

(ITESM) and

law Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior,Robertson, ''Crimes against humanity'', 90. with its precise definition a matter of longstanding debate. It has been vario ...

from the

Universidad Nacional Autónoma de México The National Autonomous University of Mexico ( es, Universidad Nacional Autónoma de México, UNAM) is a public research university in Mexico. It is consistently ranked as one of the best universities in Latin America, where it's also the bigges ...

(UNAM). Elektra began as a factory assembling electronic appliances for the Salinas y Rocha chain, a national retailer of appliances. Hugo Salinas Price became director of the company in 1952, and opened its first store Elektra in 1959. Elektra then set up a direct sales operation offering appliances on installments. By 1968, Elektra had opened 12 stores nationwide. Hugo Salinas Price retired from the company in 1987, leaving the 59-store retail network to his son

Ricardo Salinas Pliego Ricardo Benjamín Salinas Pliego (born 19 October 1955) is a Mexican businessman, founder and chairman of Grupo Salinas, a corporate conglomerate with interests in telecommunications, media, financial services, and retail. He is the third rich ...

Other roles

* Since 1997: founder and president of Mexican Civic Association Pro Silver, A.C. * Since 1993: Honorary president of Grupo Elektra

Books

* *

References

# A speech by Hugo Salinas Price August 25, 2016 http://www.plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=293

External links

Plata.com.mx (in English) (New)Hugo Salinas interviewed by GoldMoney Foundation
1934 births Living people Mexican billionaires Mexican chief executives Mexican people of American descent Monterrey Institute of Technology and Higher Education alumni Wharton School of the University of Pennsylvania alumni {{Mexico-business-bio-stub