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# 124 Sara Mota de Larrea $11.5B

Random fact: Bought Southern Copper's parent Asarco in 1999 for $2.2 billion.

Overview

Mexico's richest woman is the biggest shareholder in Grupo Mexico, a publicly traded conglomerate. The company's mining division has operations in the U.S., Mexico, Peru and Spain, and reported revenue of $10.5 billion in 2018. Its other businesses include a Mexican railroad operator and an oil-drilling company.

As of :
Last change +$185M ( +1.6%)
YTD change +$2.87B ( +33.5%)
Industry Commodities
Biggest asset GMEXICOB MM Equity
Citizenship Mexico
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sara Mota de Larrea's net worth of $11.5B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Mota's fortune is derived from publicly traded Grupo Mexico, a Mexico City-based mining conglomerate founded by her late husband, Jorge Larrea.

She controls her stake in Grupo Mexico through holding company Empresarios Industriales de Mexico, which is registered in Tucson, Arizona and owns 40.5%, according to its 2018 report. 

Since her husband's death in 1999, documents filed with Arizona's company registry show Mota as the only person with at least 20% of the investment vehicle's shares. She's attributed full ownership of the asset. Her son German Larrea is Grupo Mexico's chairman and has a 19% stake, according to the 2018 report. That stake is excluded from this net worth calculation.

The value of her cash investments is based on an analysis of dividends, insider transactions, market performance and taxes.

Grupo Mexico's investor-relations department didn't respond to a request for comment on the net wealth calculation in June 2019.

Biography

Birthdate:
Family: Widowed, 2 children

Sara Mota is the widow of Jorge Larrea, known as Mexico's copper king until his death in 1999. The Grupo Mexico empire began with a construction business that Larrea founded in 1942. He expanded into mining over the decades that followed, snapping up copper-mining assets from the Mexican government during a privatization drive that began in the late 1980s. Larrea first listed his holding company on the Mexico City exchange in 1978.

Jorge Larrea's son German took the reins of a newly reorganized Grupo Mexico in 1994. Under his watch, the company's shares have increased 25-fold. His $2.2 billion acquisition of Tucson, Arizona-based Asarco in 1999 gave him a stake in Southern Copper Corp., which is now Grupo Mexico's largest asset. In recent years, the press-shy Larrea family has been embroiled in a series of legal battles with minority shareholders, other companies and striking labor unions.

Milestones
  • 1942 Jorge Larrea founds a Mexican construction business.
  • 1965 With partners, he buys 51 percent of Asarco's Mexico unit.
  • 1978 Lists shares of Grupo Mexico's predecessor in Mexico City.
  • 1990 Purchases the Cananea mine, also privatized by the government.
  • 1994 Son German takes the reins of what is now called Grupo Mexico.
  • 1999 Jorge Larrea dies; his Grupo Mexico shares pass to Sara Mota.
  • 2005 Company boosts stake in Southern Copper; Asarco goes bankrupt.
  • 2009 Asarco emerges from bankruptcy; Grupo Mexico regains control.
  • 2011 Grupo Mexico begins takeover of Aeroportuario del Pacifico.
  • 2012 Company withdraws offer for regional airport operator.