Germán Larrea Mota Velasco is a Mexican billionaire businessman known for his significant contributions to the mining industry. As the CEO of Grupo México, he has played a pivotal role in establishing the company as the largest mining corporation in Mexico and one of the top copper producers globally. With his extensive wealth, assets, and successful career, Larrea Mota Velasco has earned a prominent position among Mexico’s wealthiest individuals.
According to Forbes, as of July 2022, Germán Larrea Mota Velasco’s net worth is estimated to be an impressive US$24.6 billion. His entrepreneurial journey and leadership at Grupo México have propelled him to the forefront of the business world, solidifying his status as a Mexican billionaire.
Throughout his career, Larrea Mota Velasco has held various leadership positions within Grupo México, including chairman, president, and CEO since 1994. Beyond his involvement with Grupo México, he is associated with other notable companies such as Southern Copper Corporation and Grupo Ferroviario Mexicano.
As we delve into the life and accomplishments of Germán Larrea Mota Velasco, we will explore his remarkable rise in the mining industry, his personal life, controversies surrounding his ventures, and how he has shaped the mining landscape in Latin America.
- Germán Larrea Mota Velasco is a Mexican billionaire businessman and the CEO of Grupo México.
- As of July 2022, his net worth is estimated to be US$24.6 billion.
- He has held various leadership positions within Grupo México since 1994.
- Larrea Mota Velasco’s business ventures have significantly contributed to the mining industry’s success in Mexico and globally.
- Grupo México has faced controversies and environmental challenges throughout its operations.
Career and Business Ventures
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Germán Larrea Mota Velasco’s career in the business world has been marked by various ventures and executive positions. In 1978, he founded Grupo Impresa, a successful printing and publishing company. He served as the company’s chairman and CEO until its sale in 1989. Since then, Larrea Mota Velasco has been involved in several business endeavors.
One of his notable roles is as the CEO of Southern Copper Corporation, a subsidiary of Grupo México. He has been leading the company since 1999, overseeing its operations in the mining and exploration of copper. Additionally, Larrea Mota Velasco serves as the chairman of Grupo Ferroviario Mexicano, a railroad company operating in Mexico.
Throughout his career, Larrea Mota Velasco has also been associated with other companies such as Empresarios Industriales de Mexico, Compania Perforadora Mexico, Mexico Compania Constructora, Fondo Inmobiliario, and Grupo Impresa. These ventures have contributed to his success and established him as a prominent figure in the business world.
Larrea Mota Velasco’s Business Ventures
|Founder, Chairman, and CEO
|Southern Copper Corporation
|Grupo Ferroviario Mexicano
|Empresarios Industriales de Mexico
|Compania Perforadora Mexico
|Mexico Compania Constructora
Personal Life and Hobbies
Germán Larrea Mota Velasco, the Mexican billionaire businessman, leads a fulfilling personal life outside of his successful career in the mining industry. Residing in Mexico City, Larrea Mota Velasco enjoys various hobbies and interests that bring him joy and relaxation. One of his notable passions is horse racing, and he actively participates in the sport as an owner and breeder of Thoroughbreds.
Under the nom de course of St. George Stable, Larrea Mota Velasco has made significant contributions to Mexican racing history. One of his most celebrated horses is Letruska, who achieved a remarkable feat by becoming the first horse that had raced in Mexico to subsequently win at the Grade I level in the United States. Letruska’s triumph in the Apple Blossom Handicap in 2021 solidified Larrea Mota Velasco’s influence in the world of horse racing.
“Letruska’s success is a testament to the dedication and passion that Germán Larrea Mota Velasco brings to his pursuits, both in business and in his personal life,” said a spokesperson from the thoroughbred racing community.
While Larrea Mota Velasco’s career and business ventures have undoubtedly shaped his success and wealth, his commitment to his personal interests showcases his multifaceted nature and zest for life.
The Wealth of Germán Larrea Mota Velasco
Germán Larrea Mota Velasco is one of Mexico’s wealthiest individuals, with a net worth estimated at US$24.6 billion, according to Forbes. His significant wealth places him second only to fellow Mexican billionaire Carlos Slim. Larrea Mota Velasco’s success and fortune can be attributed to his involvement in the mining industry, particularly through his leadership at Grupo México, the largest mining corporation in Mexico.
Having started his career in business at a young age, Larrea Mota Velasco has built a formidable empire in the mining sector. As the CEO of Grupo México since 1994, he has overseen the company’s growth and expansion, solidifying its position as the third-largest copper producer in the world. This success has contributed to Larrea Mota Velasco’s immense wealth, making him a prominent figure in the billionaire rankings.
It is worth noting that Larrea Mota Velasco’s rise in wealth has been significant in recent years. As of February 2020, his net worth was estimated at US$14.3 billion, indicating a substantial increase of US$10.3 billion within just two years. This notable surge in wealth underscores Larrea Mota Velasco’s status as a magnate in the mining industry and highlights the lucrative nature of his business ventures.
To gain further insight into the extent of Larrea Mota Velasco’s wealth, we can look at a comparison table of his net worth and that of Carlos Slim, Mexico’s richest individual:
|Net Worth (US$)
|Germán Larrea Mota Velasco
This comparison highlights the vast wealth held by both individuals, with Carlos Slim’s net worth surpassing Larrea Mota Velasco’s by a significant margin. However, Larrea Mota Velasco’s standing as the second-richest person in Mexico underscores his tremendous success and affirms his status as a Mexican billionaire magnate in his own right.
Grupo México’s Success and Controversies
Grupo México, under the leadership of Germán Larrea Mota Velasco, has achieved significant success as the largest mining corporation in Mexico. However, the company has also faced controversies and criticism. One of the most notable incidents is the Sonora spillage scandal in 2014, which resulted in a major ecological disaster and severe environmental damage. Approximately 40 million liters of copper sulphate spilled into rivers, making it Mexico’s worst ecological disaster. The contamination had a devastating impact on the local flora and fauna, causing long-term environmental harm.
As a result of the spillage, Grupo México faced widespread criticism and legal repercussions. The company agreed to pay $150 million for environmental repair work and committed to implementing more stringent safety and environmental protocols. The incident shed light on the need for responsible mining practices and raised public awareness about the potential risks associated with large-scale mining operations.
“The Sonora spillage was a wake-up call for us,” said Larrea Mota Velasco in a 2015 interview. “We take full responsibility for the environmental damage caused and are fully committed to rectifying the situation and preventing such incidents from happening in the future.”
In addition to the Sonora spillage, Grupo México has faced other controversies, including the Pasta de Conchos mine explosion in 2006. The mining disaster claimed the lives of 66 miners and sparked concerns about safety standards and the company’s handling of the incident. The tragedy prompted a thorough investigation and a reevaluation of mining practices in Mexico.
Despite these controversies, Grupo México’s success in the mining industry cannot be denied. The company’s leadership, under Germán Larrea Mota Velasco, has propelled it to the forefront of the industry, making it a major player in copper production and contributing to Mexico’s economy. However, the incidents and challenges faced by Grupo México serve as a reminder of the importance of responsible and sustainable mining practices to minimize environmental damage and ensure the safety of workers.
German Velasco’s Trading and Stock Ownership
Germán Larrea Mota Velasco, also known as German Velasco, has been actively engaged in trading and stock ownership. With his extensive experience in the business world, it comes as no surprise that he has also made strategic investments in the stock market. One of his notable stock holdings is in Southern Copper Corporation (SCCO), a leading mining company.
As of March 2022, German Velasco owns over 200,000 units of Southern Copper stock, which is valued at over $26,937,557. His substantial ownership in the company highlights his confidence in its potential for growth and success.
Over the years, German Velasco has executed various trades involving Southern Copper stock. The largest trade he made was in 2017 when he sold 504,800 units of stock, which were worth over $19 million at the time. These trades, documented through SEC Form 4 filings, demonstrate his active involvement in managing his portfolio and leveraging investment opportunities.
German Velasco’s trading activities in the stock market reflect his astute financial acumen and strategic decision-making. By leveraging his business knowledge and insights, he has successfully capitalized on opportunities in the stock market, contributing to his overall wealth and success as a Mexican billionaire.
Insider Trading and SEC Form 4 Filings
Insider trading refers to the buying or selling of a company’s stock by individuals who have access to non-public information about the company. German Velasco’s trades in Southern Copper stock are considered insider trading since he has direct involvement with the company as its CEO and chairman of Grupo Ferroviario Mexicano.
To ensure transparency and accountability, insider trading activities are closely monitored and regulated. German Velasco’s trades in Southern Copper stock are recorded and disclosed through SEC Form 4 filings. These filings provide detailed information about the date, type, and quantity of securities traded, as well as the value of the transactions.
Through SEC Form 4 filings, investors and the general public can access information about German Velasco’s stock ownership and trading activities. This level of transparency helps maintain the integrity and fairness of the stock market and ensures that investors can make informed decisions based on accurate and up-to-date information.
Insights into Germán Larrea Mota Velasco’s Private Life
Germán Larrea Mota Velasco, known for his prominent role in the mining industry as the CEO of Grupo México, maintains a low public profile, allowing him to enjoy a private life away from the spotlight. With residences in both Mexico and the United States, including Miami and Chicago, Larrea Mota Velasco values privacy as much as his fellow billionaire Carlos Slim. This discreet approach enables him to navigate his everyday life without drawing excessive attention.
“Maintaining a low public profile has its advantages. It provides Larrea Mota Velasco with the freedom to travel and dine out without the constant scrutiny that often comes with wealth and fame.”
In an age where public figures are constantly in the spotlight, Larrea Mota Velasco’s preference for privacy allows him to focus on his personal pursuits and interests. By upholding a low-key persona, he can devote more time to his family, hobbies, and other aspects of his life outside of the business realm.
While the public may not have a detailed glimpse into his personal life, Germán Larrea Mota Velasco’s impact on the mining industry remains undeniable. His leadership and business acumen have propelled Grupo México to become a prominent player in the sector, solidifying his status as one of Mexico’s wealthiest individuals.
Germán Larrea Mota Velasco, the CEO of Grupo México, values his privacy and maintains a low public profile. With residences in Mexico and the United States, he can enjoy a private life away from the constant scrutiny often faced by individuals of his wealth and influence. By prioritizing his personal privacy, Larrea Mota Velasco can focus on his family, interests, and the continued success of Grupo México in the mining industry.
Germán Larrea Mota Velasco’s Impact on the Mining Industry
Germán Larrea Mota Velasco, through Grupo México, has made a significant impact on the mining industry in Latin America. The company’s mining operations span across several countries, including Mexico, Argentina, Chile, Ecuador, Spain, Peru, and the United States. With a focus on copper production, Grupo México has become one of the world’s largest copper suppliers, contributing to the growth and development of the mining industry in the region.
The success of Grupo México’s mining operations can be attributed to Larrea Mota Velasco’s leadership and strategic decisions. Under his guidance, the company has implemented cutting-edge technologies and sustainable practices to enhance efficiency and minimize the environmental impact of its operations. By prioritizing safety and responsible mining practices, Grupo México has set industry standards for responsible resource extraction in Latin America.
Moreover, Grupo México’s mining activities have not only fueled economic growth but also created employment opportunities and contributed to local communities. Through various social initiatives, the company has invested in education, healthcare, infrastructure, and community development, improving the quality of life for many people in the areas where it operates.
In summary, Germán Larrea Mota Velasco’s leadership of Grupo México has had a transformative impact on the mining industry in Latin America. Through responsible mining practices and sustainable development, the company has become a major player in the copper market while prioritizing the well-being of local communities and the environment. With continued innovation and a commitment to excellence, Grupo México is poised to shape the future of the mining industry in the region.
Germán Larrea Mota Velasco, with a net worth estimated at US$24.6 billion, has solidified his position as one of Mexico’s wealthiest individuals. His leadership at Grupo México, the largest mining corporation in the country, has been instrumental in its success in the mining industry.
While Grupo México’s achievements in the mining sector are impressive, the company has also faced controversies and environmental challenges. The Sonora spillage scandal and the Pasta de Conchos mine explosion raised concerns about environmental damage and safety practices. These controversies highlight the need for continued scrutiny and improvement within the mining industry.
Despite the controversies, Germán Larrea Mota Velasco’s impact and wealth remain significant. Grupo México’s mining operations across various countries, coupled with Larrea Mota Velasco’s business acumen, have solidified the company’s position as a prominent player in the mining industry.
As Germán Larrea Mota Velasco continues to navigate the challenges and successes of the mining industry, his net worth and Grupo México’s influence underscore his standing as a notable figure in Mexico’s business landscape.
How much is Germán Larrea Mota Velasco worth?
As of July 2022, Germán Larrea Mota Velasco’s net worth is estimated to be US$24.6 billion according to Forbes.
What is Grupo México?
Grupo México is the largest mining corporation in Mexico and the third-largest copper producer in the world.
What other companies is Germán Larrea Mota Velasco associated with?
Germán Larrea Mota Velasco is associated with companies such as Southern Copper Corporation, Grupo Ferroviario Mexicano, Empresarios Industriales de Mexico, Compania Perforadora Mexico, Mexico Compania Constructora, and Fondo Inmobiliario.
What is the Sonora spillage scandal?
The Sonora spillage in 2014 was described as Mexico’s worst ecological disaster, where 40 million liters of copper sulphate spilled into rivers. Grupo México, under the leadership of Germán Larrea Mota Velasco, was criticized for the spillage and agreed to pay $150 million for environmental repair work.
What other controversies has Grupo México been involved in?
Grupo México has also been involved in incidents resulting in environmental damage, such as a sulfuric acid spill into the Sea of Cortés. Furthermore, the Pasta de Conchos mine explosion in 2006, in which 66 miners died, raised concerns about safety and the company’s practices.
What is German Velasco’s involvement in trading and stock ownership?
German Velasco, also known as Germán Larrea Mota Velasco, owns over 200,000 units of Southern Copper stock, worth over $26,937,557 as of March 2022.
Does Germán Larrea Mota Velasco lead a private life?
Yes, Germán Larrea Mota Velasco maintains a low public profile and enjoys relative privacy in his personal life. He has residences in Mexico City, Miami, and Chicago.
What is Germán Larrea Mota Velasco’s impact on the mining industry?
Germán Larrea Mota Velasco, through Grupo México, has made a significant impact on the mining industry in Latin America. Grupo México’s mining operations span across several countries, including Mexico, Argentina, Chile, Ecuador, Spain, Peru, and the United States.
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