Ricardo Salinas Pliego

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Ricardo Salinas Pliego

Ricardo Benjamín Salinas Pliego (born October 19, 1955 in Mexico City ) is a Mexican businessman, founder and chairman of Grupo Salinas , a group of companies with interests in the telecommunications, media, financial services and retail sectors. Pliego manages various subsidiaries through Grupo Salinas and Grupo Elektra , including the Mexican companies TV Azteca , Elektra , Iusacell , Unefon and Banco Azteca . In March 2015 Salinas was the fourth richest person in Mexico and 168 of the richest people in the world with an estimated net worth of 8 billion US dollars .

Life

Pliego's parents are Hugo Salinas Price and Esther Pliego de Salinas. Pliego is married and has six children. According to the US Forbes Magazine , Pliego is one of the richest Mexicans.

Entrepreneurship

Ricardo Salinas Pliego is an ITESM graduate . After completing his Master of Business Administration (MBA) from Tulane University in New Orleans , he became an import manager at Grupo Elektra in 1981. He witnessed the financial transactions when the company found itself in a difficult financial position during the ongoing currency crisis of the 1980s. Between 1981 and 1986, Salinas experimented with other business models, such as a restaurant in Monterrey , satellite antennas , and selling communications systems.

In 1987 Ricardo succeeded his father Hugo Salinas Price as CEO of Grupo Elektra . The company started out as a family furniture making company called Salinas & Rocha, founded in 1906 by Salinas great-grandfather Benjamin Salinas. In 1950 Hugo Salinas Rocha founded the Grupo Elektra. When Ricardo Salinas became CEO in 1987, the company specialized in household appliances, electronics and furniture. Salinas, he developed a new consumer market for Mexico's lower to middle income group by offering credit purchases and other financing options.

Grupo Elektra continued to expand and became Mexico's largest consumer finance company. In 2002 the company received a banking license , the first in nearly a decade, granted for a Mexican company. The company's strategy was to enter new markets by creating purchasing power among groups of people ignored by other large Mexican companies. So the Banco Azteca was born, which currently has branches in Mexico, Panama , Guatemala , Honduras , Brazil , Peru and El Salvador . As a result, Grupo Elektra received two financial licenses from the government to set up Seguros Azteca and Afore Azteca.

Salinas is also chairman of TV Azteca , one of the two largest producers of Spanish language television programs. It is one of only two national broadcasters in Mexico and one of the most profitable broadcasters in the world. Under Salinas, TV Azteca broke the country's TV monopoly with the successful privatization of a media package from the Mexican government .

TV Azteca founded its subsidiary Azteca America in 2001, a Spanish-speaking broadcasting network targeting the 50 million Hispanic people in the United States . Azteca America has partners in 70 cities including Los Angeles , New York City , Chicago , Miami and Houston . The network thus reaches 89% of the Hispanic population in the US .

In 2003, Salinas bought Iusacell, Mexico's first cell phone company . Four years later, he merged it with Unefon, another cell phone company that Salinas founded in 1999. In early 2015 he sold Iusacell to AT&T .

On November 18, 2008, it was announced that Salinas had bought 28% of the bankrupt American retailer Circuit City . Ultimately, Salinas lost $ 41 million on his stake in Circuit City after his efforts to restructure debt with suppliers failed and he abandoned plans to buy the company.

In 2012, Grupo Elektra acquired Advance America, an American short-term loan company. In addition, Punto Casa de Bolsa was founded. Grupo operates more than 6,000 sales outlets in Mexico, the USA, Guatemala, Honduras, Peru, Panama, El Salvador and Brazil.

Salinas has participated in the World Economic Forum , The Economist Roundtable on Mexico , Young Presidents' Organization , UCLA , The Institute of the Americas , Harvard Business School and TED . He writes for the Spanish Newsweek , La Opinión , the Huffington Post and the Mexican press. Salinas was the first Mexican to be appointed to the Aspen Institute's Board of Trustees .

As a philanthropist

In 1997, Salinas established the Fundación Azteca , a non-profit social foundation that campaigns in the fields of health, education and environmental protection. Fundación Azteca finances and supports other foundations. In 2005, Salinas established Fundación Azteca America with the goal of improving the quality of life for the Hispanic community in the United States by connecting donors to Hispanic foundations nationwide.

Controversy

Salinas has been implicated in several political and financial scandals. The American Securities and Exchange Commission (SEC) and the Mexican Comisión Nacional Bancaria y de Valores are investigating him . He has been associated with former President Carlos Salinas de Gortari . In January 2005, Salinas was charged by the US Securities and Exchange Commission . Salinas has been accused of using bogus companies to hide his involvement in a series of transactions in which he personally profited $ 109 million. The SEC's allegations also alleged that he and Pedro Padilla Longoria were selling multi-million dollar shares in TV Azteca while Salinas' self-dealings were kept secret from the market. That controversy was resolved in September 2006 when Salinas paid $ 7.5 million without pleading guilty. As part of the deal, Salinas was banned from serving as an officer or director of any company in the United States for a period of 5 years.

See also

Web links

Individual evidence

  1. ↑ a b c d Founder and chairman of the board of Grupo Salinas. In: gruposalinas.com.mx. Retrieved August 28, 2018 .
  2. ^ Profile Description. In: gruposalinas.com.mx. Retrieved August 28, 2018 .
  3. ↑ welt.de: When three billionaires argue ...
  4. ↑ a b Why Are the Four Richest Men in Mexico Getting Crushed? In: wolfstreet.com. August 30, 2015, accessed August 28, 2018 .
  5. ↑ a b c d Ricardo Salinas Pliego Chairman / President. In: bloomberg.com. Retrieved September 10, 2018 .
  6. ↑ Timeline. In: ricardosalinas.com. Retrieved September 10, 2018 .
  7. ^ A b c Ricardo B. Salinas, Founder and Chairman, Grupo Salinas. In: huffingtonpost.com. Retrieved September 10, 2018 .
  8. ^ Profile History. In: gruposalinas.com.mx. Retrieved September 10, 2018 .
  9. ↑ Our Companies. In: gruposalinas.com.mx. Retrieved September 10, 2018 .
  10. ^ Mexican tycoon Salinas sets eyes on Circuit City. In: reuters.com. November 18, 2008, accessed September 10, 2018 .
  11. ^ Mexican Mogul Speaks About Circuit City Losses. In: dealbook.nytimes.com. February 4, 2009, accessed September 10, 2018 .
  12. ^ Six Leaders Elected to Aspen Institute Board of Trustees. In: aspeninstitute.org. April 16, 2012, accessed September 10, 2018 .
  13. ^ A Mexican Media Billionaire Now Faces Investigation in US In: wsj.com. February 27, 2004, accessed September 10, 2018 .
  14. ↑ SEC accuses Mexican firm of fraud. In: http://news.bbc.co.uk . January 5, 2005, accessed September 10, 2018 .
  15. ^ SEC Charges TV Azteca And Its Chairman — Ricardo Salinas Pliego — with Fraudulent Scheme to Conceal Salinas' $ 109 Million Windfall Through Related Party Transactions. In: sec.gov. January 4, 2005, accessed September 10, 2018 .
  16. ↑ US Securities and Exchange Commission. In: sec.gov. September 14, 2006, accessed September 10, 2018 .
personal data
SURNAME Salinas Pliego, Ricardo
ALTERNATIVE NAMES Salinas Pliego, Ricardo Benjamin
BRIEF DESCRIPTION Mexican entrepreneur
DATE OF BIRTH October 19, 1955
PLACE OF BIRTH Mexico