Germán Larrea Mota-Velasco

Germán Larrea Mota-Velasco (born October 26, 1953) is a Mexican business magnate.[1] He is the CEO of Grupo México, Mexico's largest mining corporation.[2] As of June 2025, his net worth was estimated at US$31.3 billion.[3] 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.[2] He was previously executive vice chairman of Grupo Mexico and has been a director since 1981.[2]

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.[2] He has been chairman and CEO of Grupo Ferroviario Mexicano since 1997.[2] He has been chairman and CEO of Empresarios Industriales de Mexico, Compania Perforadora Mexico, Mexico Compania Constructora, and Fondo Inmobiliario since 1992.[2]

He founded Grupo Impresa, a printing and publishing company in 1978, remaining as the chairman and CEO until 1989, when the company was sold.[2] 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.[2]

According to Forbes, he was the second richest man in Mexico, after Carlos Slim, in 2015, 2016, and 2021.[3][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][3] 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]