Germán Larrea Mota-Velasco Net Worth

What is German Larrea Mota-Velasco’s net worth?

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net worth:	$10 billion
age:	83
Birth:	July 8, 1941
gender:	Male
Height:	unknown
country of origin:	Mexico
Source of funds:	entrepreneur
Last Updated:	August 9, 2024

Introduction

German Larrea Moto-Velasco is the CEO and shareholder of one of the largest mining companies in all of Mexico. He owns 51% of the group, which operates 13 mines in Mexico and 10 more that are still being explored.

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Larrea has been involved in several disputes with environmentalists over his companies’ mining practices and has had several of his projects cancelled in the past due to anti-mining protests.

This is understandable, as the oil spill in 2014 caused extensive damage and hurt the company’s reputation.

German Larrea Mota-Velasco’s net worth is estimated at $10 billion.

quick Facts

Larrea has been declared the second richest man in Mexico after inheriting the family business from his father.
Grupo México has operations in Mexico as well as in the United States and Peru.
Larrea is currently a director of the Banco Nacional de Mexico, as well as the Consejo Mexicano de Hombres de Negosios, Group Financiero Banamex, and Group Televisa.
He founded Grupo Empresa, a printing and publishing company, in 1978 and remained its CEO until 1989, when he sold the company.
He has a passion for horse racing and owns and breeds thoroughbred horses. He has a mare named Letruske who has won an impressive number of titles in horse racing.

Early Life

German Larrea Mota-Velasco was born on July 8, 1941 in Mexico City, Mexico.

Not much is known about Larrea’s youth due to the family’s secrecy and the lack of records from that era in Mexico’s history.

It is known that he was raised in a religious home by his father, Jorge Larrea Ortega, and his mother, Sara Mota de Larrea.

Larrea studied at Janus University, where she earned a Bachelor’s Degree in Business Administration and a certification for the Global Leadership Program from the Thunderbird School of Global Management.

Livelihood

Larrea is the CEO of Grupo Mexico, having been a director since 1981 before being appointed to the top job in 1994. When his father finally handed the reins of the company over to him in 1994, he became the company’s chairman, president and CEO.

Keeping the business in family hands, the other part of the family business is owned by his mother, Sara Mota de Larrea.

In 1991, he served as president of Southern Copper Corporation and rose to the position of CEO and director in 1999. He became CEO of various companies, including Grupo Ferroviario Mexicano in 1997, Empresarios Industriales de México and Fondo Immobilario in 1992, as well as Compañía Perforadora and Mexico Company Constructora.

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He founded a printing and publishing company, Grupo Impresa, which he sold in 1989. Since then, he has become a director of the Banco Nacional de Mexico, which is a part of Grupo Financiero Banamex, Grupo Televisa, and Consejo Mexicano de Hambres de Negocios.

Larrea has held the positions of chairman, CEO, and president of Grupo México for over 25 years, and due to his leadership and business acumen, the company has expanded into the infrastructure and rail transportation sectors.

Under Larrea’s leadership, Grupo México became one of the most successful mining and logistics companies in the Western Hemisphere. During this time, the company also expanded its operations into the United States and Peru.

Larrea carried forward the business he inherited from his father and successfully established an empire in the mining industry.

German Larrea Mota-Velasco Career Earnings

It is hard to get the exact figures as the family is very secretive about their earnings. However, based on the available data, we can estimate how much Larrea earns.

Here is an estimated overview of German Larrea Mota-Velasco’s annual earnings:

2014 – $800 million
2015 – $810 million
2016 – $820 million
2017 – $825 million
2018 – $829 million
2019 – $834 million
2020 – $850 million
2021 – $900 million
2022 – $1 billion

Based on his annual income, German Larrea Mota-Velasco is one of the richest people in the world.

German Larrea Mota-Velasco annual net worth

As business grew, so did the wealth of Germán Larrea Mota-Velasco due to his majority shareholding in the company.

Here are the details of German Larrea Mota-Velasco’s annual net worth:

2014 – $14.8 billion
2015 – $13.95 billion
2016 – $9 billion
2017 – $13.9 billion
2018 – $17.1 billion
2019 – $13.3 billion
2020 – $11 billion
2021 – $26 billion
2022 – $30 billion

With the surge in metal prices in recent years and the growing demand for copper and other industrial raw materials, German Larrea will continue to grow his wealth in the decades to come.

personal life

Larrea is married, but not much is known about his wife as he has a reputation of being a reclusive person.

There is no record of any of his children and he lives his life in private, visiting the race track from time to time. His investment in a stud farm, where he breeds champion horses, is one of the very few public details about his private life.

Awards and achievements

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German Larrea Mota-Velasco does not want the spotlight and avoids media scrutiny as much as possible.

However, given the size of his companies and the impact his businesses have on Mexico, it is not surprising that there is enormous media interest in him.

Here are some memorable moments from German Laryea Mota-Velasco’s career:

In 2020, he was ranked by Forbes as the second richest man in all of Mexico.
In 1999, German became President and Chief Executive Officer of Mexico Compania Constructora, S.A.
German was made president of the Empresarios Industriales de Mexico Societat Anonima de CV in 1997.

While we’re sure he’ll continue to be the driving force behind the company’s success, it’s unlikely we’ll hear much about it in the media.

How does German Larrea Mota-Velasco spend his money?

Larrea owns properties around the world and listed his Ritz-Carlton condo in 2019 for $8 million.

He spends money on trips between Mexico City and Italy for business and family reasons, but shies away from spending money ostentatiously.

Since most of his investments are in mining, not much information is available about his other interests, except that he owns St. George Stables, where he breeds champion race horses.

Because of the danger of kidnapping in Mexico, he cannot drive the world’s most expensive cars and has to be content with simply owning them and driving around in them.

Highlights

Here are some of the best highlights from German Larrea Mota-Velasco’s career:

Larrea enabled Grupo México to expand into the rail transportation and infrastructure sectors.
Grupo México’s transportation branch was split off into GMexico Transportes in 2017.
Despite the disaster of the oil spill near Sonora, the company took the initiative and deposited $150 million into a trust account to compensate residents who suffered losses due to the spill.
In 2020, Larrea sold 100,000 shares in Southern Copper Corporation for $6 million, meaning his remaining stake in the company is worth over $121 million.
Larrea owns more than 3,100 miles (5,000 km) of railroad tracks in Mexico, estimated to represent approximately 71% of the country’s available railroad tracks.

Summary

Larrea currently spends his life between Mexico City and Italy, where he travels with his family and lives a luxurious lifestyle, while staying out of the media’s gaze due to his desire for privacy.

His business acumen is amazing and as long as he is at the top of his business empire, his wealth will keep on increasing.