Jeronimo Arango Net Worth is$4 Billion
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Date of Birth: 1927
Nicknames: Jeronimo Arango
Country: Spain, Mexico
Jeronimo Arango net worth: Jeronimo Arango is a Mexican businessman who has a net worth of $4 billion. Jeronimo Arango, along with his two younger brothers, Manuel and Placido, founded Aurrera chain of supermarkets in 1958 after a trip to New York, where he witnessed people standing in long lines to obtain discounts at stores. Starting with only one discount store, the Arango's business flourished, eventually turning into Grupo CIFRA that not only encompassed the largest supermarket chain in Mexico (including Aurrera and Superama stores), but also restaurants (VIPs and El Porton) and fashion stores (Suburbia). By 1991 Arango made a partnership with Sam Walton's Wal-Mart empire, a game-changing move which eventually brought the Wal-Mart retail stores to Mexico. Six years later, the trio made their fortune after they sold their stake in retailer Cifra to Wal-Mart's Mexican arm, a deal worth over 2 billion dollars. Nowadays, Jeronimo's brother Manuel is the president of the Mexican Center for Philanthropy, in addition to other 10 different non-profit organizations. While Jeronimo is said to live a quiet life in Los Angeles with his wife, who is the president of the Mexican Folk Art Museum. Apart from his business, he is also an Academy Awards' winner for the production of a well-known documentary about pre-Hispanic life in the 1970s.
JerA?nimo Arango is a Mexican businessman, co-founder of the AurrerA? chain of supermarkets along with his 2 younger brothers, Manuel and Placido, known for a long time as three of Mexico's wealthiest men. His fortune was estimated at 4.6 billion United States dollars in 2006 by Forbes magazine. In the 2007 Billionaires issue Forbes new estimate is 4.3 Billion.
Born in 1927. Arango founded his AurrerA? discount stores in 1958 after a trip to New York where he witnessed people standing in long lines to obtain discounts at stores; he decided to open one that sold at discount, emphasizing cost over other niceties. The stores flourished and eventually his family's company, Grupo CIFRA, encompassed the largest supermarket chain in Mexico (including AurrerA? and Superama stores) as well as restaurants (VIPs and El PortA?n) and fashion stores (Suburbia).
By 1991 Arango partnered with Sam Walton's Wal-Mart empire, a move which eventually brought the Wal-Mart retail stores to Mexico. The Mexican chain was later renamed Walmex and became the starting point for Wal-Mart's expansion in Mexico. By 1997 the Arango family decided to sell majority shareholding of CIFRA to Wal-Mart in a transaction worth over 2 billion dollars.
Manuel, JerA?nimo's brother is the president of the Mexican Center for Philanthropy as well for more than 10 different non-profit organizations. He won two Academy Awards in the 1970s for the production of a well-known documentary about pre-Hispanic life. His wife, MarieTherese is the president of the Mexican Folk Art Museum.

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Jeronimo Arango Latest News

WAL-MART DE MEXICO S A B DE C V (WALMEX V)

and it is engaged in operating self-service stores.The company was founded by Jerónimo Arango in 1958 and is headquartered in Mexico City, Mexico. 11/27 WAL-MART DE MEXICO S A B DE C V: ex-dividend day for special dividend 11/27 WAL-MART DE MEXICO S A B ...
Posted: February 17, 2015, 3:28 pm

Mexico's 10 Billionaires

In Mexico, a country in which about half the population lives under the poverty line, where the per capita income is less than U.S. $7,000, Forbes lists 10 billionaires ... Elektra also sells Chinese cars. Jeronimo Arango is the fifth-richest Mexican ...
Posted: March 12, 2008, 12:46 am

Slim a maverick tycoon in Mexico's business elite

Other Mexican billionaires include German Larrea Mota, owner of copper miner Grupo Mexico, Televisa broadcasting tycoon Emilio Azcarraga, supermarket operator Jeronimo Arango and banker Roberto Hernandez. To the ire of Mexico's government, the country's No ...
Posted: March 16, 2010, 3:12 am
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