German Larrea Motta-Velasco Net Worth

What is Germán Larrea Mota-Velasco’s Net Worth?

net worth:	$10 billion
age:	83
Date of Birth:	July 8, 1941
gender:	male
high:	unknown
country of origin:	Mexico
Source of wealth:	entrepreneur
Last updated:	August 9, 2024

introduce

German Larrea Moto-Velasco is the CEO and shareholder of one of Mexico’s largest mining companies. He owns 51% of the group, which operates 13 mines in Mexico and is exploring another 10.

Larrea has been embroiled in several scandals with environmentalists over his company’s mining practices, and many projects have been cancelled in the past due to anti-mining protests.

This is understandable, as the 2014 oil spill caused huge losses and the company’s reputation was severely damaged.

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

Quick Facts

Larrea inherited the family business from his father and is ranked as the second richest person in Mexico.
Grupo Mexico has operations in Mexico, the United States and Peru.
Larrea currently serves as a director of Banco Nacional de México, Consejo Mexicano de Hombres de Negocios, Grup Financiero Banamex and Grup Televisa.
He founded the printing and publishing company Grupo Impresa in 1978 and served as CEO until the company was sold in 1989.
He loves horse racing, owns and breeds thoroughbred horses, and has a mare named Letruske who has won an impressive number of championships 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 family secrecy and the lack of records from that period in Mexican history.

It is known that his father, Jorge Larrea Ortega, and his mother, Sara Mota de Larrea, raised him in a religious family.

Larrea attended Jenners University, where she earned a bachelor’s degree in business administration and also received a certificate from Thunderbird School of Global Management’s Global Leadership Program.

Profession

Larrea is Grupo Mexico’s chief executive, having been a director since 1981 and was appointed to the top job in 1994. He became chairman, president and CEO in 1994 when his father finally handed over the reins of the company to him.

He keeps the business firmly in family hands, while the rest of the family business is owned by his mother, Sara Mota de Larrea.

In 1991, he became Chairman of Southern Copper Corporation and was promoted to CEO and Director in 1999. He subsequently served as CEO of several companies, including Grupo Ferroviario Mexicano in 1997, Empresarios Industriales de Mexico and Fondo Inmobillario in 1992, Compania Perforadora and Mexico Companie Constructora.

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

Larrea served as Chairman, CEO and President of Grupo Mexico for more than 25 years, and his leadership and business skills led to the company’s expansion into the infrastructure and rail transportation sectors.

Under Larrea’s leadership, Grupo Mexico has become one of the most successful mining and logistics companies in the Western Hemisphere, expanding into the United States and Peru during this period.

Larrea inherited his father’s business and successfully created an empire in the mining industry.

Germán Larrea Mota-Velasco’s Career Income

It is difficult to know the exact amount of money the Larrea family makes, as they are very secretive about it, but we can estimate it based on the available data.

Here is the estimated annual income of Germán Larrea Mota-Velasco:

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

Germán Larrea Mota-Velasco’s Annual Net Worth

As the business grew, so did Germán Larrea Mota-Velasco’s wealth, as he owned a majority stake in the company.

Here is a breakdown of Germán Larrea Mota-Velasco’s net worth over the years:

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 metal prices soaring in recent years and demand for industrial raw materials such as copper increasing, German Larrea’s wealth will continue to increase in the coming decades.

Personal life

Larrea was married, but due to his famous reclusiveness, little is known about his wife.

There are no records of his children and he led a private life, with only occasional visits to racetracks. His investment in a stud farm, where he bred champion horses, was one of the few public insights into his private life.

Awards and Achievements

Germán Larrea Mota-Velasco does not seek the spotlight and avoids media attention as much as possible.

However, given the size of his company and the impact of his business in Mexico, it is not surprising that he has attracted considerable media interest.

Here are some of the memorable moments from Germán Larrea Mota-Velasco’s career:

In 2020, he was ranked the second richest person in Mexico by Forbes.
In 1999, German became Chairman and CEO of Compania Constructora, SA in Mexico
German was named Chairman of the Board of Empresarios Industriales de Mexico Societe Anonima de CV in 1997.

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

How does German Larrea Mota-Velasco spend his money?

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

He travels between Mexico City and Italy for business and family reasons, but he is reluctant to spend money lavishly.

Since most of his investments were in the mining industry, not much information is available about his other interests, except that he owned St. George Stables, where he bred champion racehorses.

He cannot drive the world’s most expensive cars due to the threat of kidnapping in Mexico, but is content to simply own them and be driven around.

Highlights

Here are some highlights from Germán Larrea Mota-Velasco’s career:

With Larrea, Grupo Mexico was able to expand into rail transport and infrastructure.
In 2017, Grupo Mexico’s transportation division was spun off into GMexico Transportes.
Even after the oil spill disaster near Sonora, the company took the initiative to deposit $150 million into a trust account to compensate residents who were harmed by the oil spill.
In 2020, Larrea sold 100,000 shares of Southern Copper for $6 million, meaning his remaining stake in the company is worth more than $121 million.
Larrea owns more than 3,100 miles (5,000 km) of railroad in Mexico, an estimated 71 percent of the country’s available track.

Summary

Larrea currently lives between Mexico City and Italy, where he travels with his family and lives a lavish lifestyle but avoids media attention due to his desire to maintain privacy.

His business acumen was legendary, and as long as he was at the helm of his business empire, his wealth continued to grow.