Number of Mexico's billionaires on Forbes list increases to seven while wealth expands by 63 percent

El Semanario
and Forbes

While the number of billionaires in the world shrunk last year to the smallest number and the richest got a lot poorer, the number of Mexican billionaires increased and their fortunes expanded by 63 percent.

With mogul Carlos Slim at the top as the world's richest man with $53.5 billion, seven other Mexicans made the 2010 list of the world's richest that was published by Forbes magazine on Wednesday.

Among the more notable new billionaires is Mexican Joaquín "Chapo" Guzmán Loera, one of the biggest suppliers of cocaine to the United States with holdings of $1 billion.

Of the Mexican businessmen, Germain Larrea, owner of Grupo Mexico, recorded the highest growth in personal wealth with an increase of 273 percent, going from $2.6 billion in 2009 to $9.7 billion in 2010.

The collective net worth of all Forbes billionaires is $2.4 trillion, down $2 trillion from a year ago. Their average net worth fell 23 percent to $3 billion.

Mexicans on the list have a total fortune of $90.3 billion, representing a growth of 63.8 percent compared with the $55.1 billion reported in the ranking of 2009.

The other Mexican billionaires are Ricardo Salinas Pliego, president and CEO of Grupo Salinas and Grupo Elektra ($10.1 billion); Alberto Bailleres, owner of Grupo Bal holding company, which includes silver mining company Industrias Peñoles, department store El Palacio de Hierro, and insurance company Grupo Nacional Provincial ($8.3 billion); Jeronimo Arango, co-founder of the Aurrerá chain of supermarkets ($4 billion); Emilio Azcarraga, CEO of Grupo Televisa ($1.5 billion), and Roberto Hernandez, former Banamex CEO and a member of the administration board of Citigroup ($1.2 billion).
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