Germán Larrea Mota-Velasco

Germán Larrea Mota-Velasco
Born1953 or 1954 (age 71–72)[1]
Mexico City, Mexico
OccupationsCEO, Grupo México
Children1

Germán Larrea Mota-Velasco (born October 26, 1953) is a Mexican business magnate.[2] He is the CEO of Grupo México, Mexico's largest mining corporation.[3] As of June 2025, his net worth was estimated at US$31.3 billion.[1] He's ranked the second richest person in Latin America as of 2026.[4]

Career

Larrea Mota-Velasco has been chairman, president and CEO of Grupo Mexico since 1994.[3] He was previously executive vice chairman of Grupo Mexico and has been a director since 1981.[3]

He has served as chairman of the Southern Copper Corporation since December 1999, CEO from December 1999 to October 2004, and as a director since November 1999.[3] He has been chairman and CEO of Grupo Ferroviario Mexicano since 1997.[3] He has been chairman and CEO of Empresarios Industriales de Mexico, Compania Perforadora Mexico, Mexico Compania Constructora, and Fondo Inmobiliario since 1992.[3]

He founded Grupo Impresa, a printing and publishing company in 1978, remaining as the chairman and CEO until 1989, when the company was sold.[3] He is also a director of Banco Nacional de Mexico, which forms part of Grupo Financiero Banamex, Consejo Mexicano de Hombres de Negocios, and Grupo Televisa.[3]

According to Forbes, he was the second richest man in Mexico, after Carlos Slim, in 2015, 2016, and 2021.[1][5]

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.[6]

In October 2025, Germán Larrea made a proposal to buy Banamex from Citibank. However, Citibank rejected the proposal on October 9.[7]

As of January 2026, the businessman had an estimated net worth of US$68.4 billion, according to the Bloomberg Billionaires Index, ranking him eighth worldwide in terms of year-to-date gains in personal wealth. [8]

Personal life

Larrea Mota-Velasco is married with one daughter and lives in Mexico City.[9][1] He owns and breeds thoroughbred racehorses under the nom de course St. George Stable; his mare Letruska became the first horse that had raced in Mexico to win a Grade I race in the United States when she captured the 2021 Apple Blossom Handicap.[10]

References

  1. ^ a b c d "Forbes profile: German Larrea Mota Velasco & family". Forbes. Retrieved 5 June 2025.
  2. ^ Forbes biography
  3. ^ a b c d e f g h "Southern Copper Corporation Board biography". Archived from the original on 2020-07-26. Retrieved 2011-07-01.
  4. ^ "The 100 richest people in Latin America". Latin Business Daily. 2026-02-17. Retrieved 2026-02-18.
  5. ^ "México 'estrena' 5 multimillonarios". Expansión (in Spanish). 2013-03-04. Retrieved 2022-09-18.
  6. ^ "German Larrea Mota Velasco Sells 100,000 Shares of Southern Copper Co. (NYSE:SCCO) Stock". MarketBeat.com. Retrieved 2020-12-11.
  7. ^ Redacción, Por (2025-10-10). "Venta de Banamex: Estos fueron los pasos en falso de Germán Larrea por los que Citi lo mandó a volar". El Financiero (in Spanish). Retrieved 2025-11-17.
  8. ^ https://elceo.com/negocios/german-larrea-y-alejandro-bailleres-disparan-su-fortuna-con-el-auge-del-oro-y-la-plata/
  9. ^ Cancel, Daniel; O'Boyle, Michael (25 May 2023). "Meet the Reclusive $30 Billion Tycoon in the Mexican President's Crosshairs". Bloomberg News.
  10. ^ Mitchell, Frank (21 April 2021). "Letruska Made Mexican Racing History With Apple Blossom Win". Paulick Report. Retrieved 9 July 2021.
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