Alberto Baillères González, the fourth richest businessman in Mexico, died

February 4, 2022

In 2021, Baillères’ fortune amounted to 10.48 billion pesos (Photo: Twitter/LideresMexicano)

On the night of this Thursday, February 3, it was reported that at the age of 90 Alberto Baillères González died, the fourth richest businessman in Mexico. The tycoon was president of BAL group, a conglomerate of Mexican companies formed by Grupo Nacional Provincial (GNP Insurance), Medical Móvil, Grupo Profuturo and the stores iron palace, among other.

Furthermore, he was known as the Mexican King Midas, because he also owned Frenillo, one of the mines producing the payment largest in the world, which belongs to the company Penoles Industries, founded by his father Raul Bailleres Chavez in March 1887.

According to the portal Forbes, in 2021 his fortune amounted to 10,480 million pesos, only surpassed in Mexico by businessmen Carlos Slim, Germán Larrea and Ricardo Salinas Pliego.

The companies that make up the Grupo BAL conglomerate (Photo: Grupo Bal)
The companies that make up the Grupo BAL conglomerate (Photo: Grupo Bal)

In 2015, he was awarded the Medal of Honor Belisario Dominguez, the highest recognition that a Mexican citizen can receive, and that it was granted for the first time to a businessman. “Don Alberto” was considered for this distinction for his philanthropic work in favor of education and health, the generation of jobs and for his business work with which he has contributed wealth to the country.

“You have to be romantic about your work. Being an entrepreneur is an art more than a science, an art that few people fully understand”, was one of his phrases.

This important businessman was born on August 22, 1921 and studied for a degree in Economy of Autonomous Technological Institute of Mexico (ITAM), where he was chairman of its board of directors.

He began working in 1957 in the family business promoted by his father Raúl. entered the Montezuma Brewery as a beer vendor in Mexico City. He held various positions in the company, until reaching the general management in 1964. Three years later, his father died suddenly in a domestic accident.

Alberto Baillères talks with his counterpart Carlos Slim and his son (Photo: Cuartoscuro)
Alberto Baillères talks with his counterpart Carlos Slim and his son (Photo: Cuartoscuro)

Years later, when he was 32, he took over the business of the Guanajuato-born family, which included Cervecería Moctezuma, Peñafiel Springs and Mexican Metallurgical Company Peñoles.

Alberto Baillères moved his chips and decided to merge Credito Hipotecario, Credito Hipotecario del Sur, Banco Minero y Mercantil and Credito Minero y Mercantil into Banca Cremi. It also brought together the insurers Nacional Compañía de Seguros and La Provincial in Grupo Nacional Provincial. In 1985, he sold Cervecera Moctezuma and its more than 40 subsidiaries to FEMSA to focus on the silver business.

The results speak for themselves: it managed to make Grupo Peñoles the largest silver producer in the world, Provincial National Group (GNP) today participates in all segments within the insurance business, and iron palace It went from being one of many department stores to become one of the most important in the medium-high segment of its category, and an emblematic firm in the country for its marketing campaigns.

“Don Alberto” shows off his Belisario Domínguez medal (Photo: ITAM)

It is worth mentioning that he was also a member of the Board of Directors of several leading companies in Mexico, including BBVA-Bancomer Financial Group, Mexican Economic Development, Desc Industrial Development Society, Televisa Group y J.P. Morgan International Council.

In 2004, in an interview for the portal Expansion, revealed that he was very clear that his seven children would inherit his estate, without this meaning giving them control of the group.

“The survival of the organization requires cold objectivity to decide a succession case, which is not always easy, pleasant or understandable,” he said at the time.

Last year his son, Alexander, took the reins of the empire, while he took the position of honorary president for life.

KEEP READING:

Who was Alberto Bailléres, the Mexican tycoon known as the “king of silver”
With what business did Alberto Baillères become a millionaire



Reference-www.infobae.com