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The Top 20 Billionaires of America
Carlos Slim of Mexico heads this list with $69 billion
Carlos Slim Helu
GLOBAL RANK: 1
$69 BILLION
MEXICO, Telecom, Diversified
Slim retains the title of world’s richest man for the third year in a row despite a fortune that’s $5 billion smaller than a year ago—primarily because of a lower share price for telecom giant América Móvil, which accounts for more than half his net worth. In April the company was fined $1 billion by Mexican regulators for monopolistic practices but is appealing the decision.
GLOBAL RANK: 7
$30 BILLION
BRAZIL, Mining, Oil
Brazil’s richest man is riding high on oil fever. His oil and gas driller, OGX Petróleo e Gás, produced its first oil in a test well offshore in late January; his 61% stake in the company is worth $19.8 billion—two-thirds of his net worth. The bombastic entrepreneur is also betting on his former passion, gold: In March 2011 he spent $1.5 billion to take private Canadian-listed Ventana Gold, which owns what he says is an incredibly promising mine in Colombia.
Iris Fontbona & family
GLOBAL RANK: 32
$17.8 BILLION
CHILE, Mining
Fontbona is the widow of mining and banking magnate Andrónico Luksic, who died in 2005. Her family controls Antofagasta, one of the world’s largest copper miners. A decline in the miner’s share price shaved nearly $1.4 billion off her net worth since March 2011. The clan also holds shares in Quiñenco, a consumer packaging and beverage maker. During a December 2011 telethon, Fontbona publicly donated $3 million to help Chileans with disabilities.
David Thomson & family
GLOBAL RANK: 35
$17.5 BILLION
CANADA, Media
Thomson, a camera-shy media magnate and chairman of Thomson Reuters, stepped into the spotlight this past year with a deal in which he helped buy the National Hockey League’s Atlanta Thrashers, relocate them to Canada and rename them the Winnipeg Jets. Thomson’s net worth fell $5.5 billion due to a near 30% drop since March 2011 in Thomson Reuters’ share price.
GLOBAL RANK: 37
$17.4 BILLION
MEXICO, Retail, Media
Salinas Pliego is the world’s biggest gainer in dollar terms. His net worth is $9.2 billion higher than a year ago thanks to a more than doubling of the share price of Mexico-listed home appliance and electronics retailer Grupo Elektra. Analysts point to a small float as one reason for the price spike; an equity swap with UBS and a new placement on the Mexican stock index further reduced supply and drove share prices higher. He also controls Mexico’s second-largest broadcaster, TV Azteca, and wireless phone company Iusacell.
GLOBAL RANK: 38
$16.5 BILLION
MEXICO, Mining
Bailleres chairs Mexico’s second-largest mining company, Industrias Peñoles, one of the world’s largest silver miners. Thanks to higher prices for precious metals and the opening of his El Saucito mine in Zacatecas, his fortune is up $4.6 billion since 2011 on a steep rise in Industrias Peñoles’ share price; his 69% stake is worth $13.4 billion. He is reportedly a patron of bullfighting
German Larrea Mota Velasco & family
GLOBAL RANK: 48
$14.2 BILLION
MEXICO, Mining
The media-shy Larrea reigns as Mexico’s copper king. His copper producer, Grupo México, had another stellar year, revenue-wise. But with stock prices slightly down, Larrea and his family, who control 51% of the mining conglomerate, saw their fortune drop by $1.8 billion since last year. Larrea remains elusive, avoiding journalists and photographers.
GLOBAL RANK: 52
$13.8 BILLION
BRAZIL, Banking
Brazil’s wealthiest banker is expanding his turf. His Grupo Safra announced in November it would spend roughly $1.1 billion to acquire control of Bank Sarasin, a private bank in Switzerland, from Rabobank of the Netherlands. Safra paid $285 million early last year for the office space of the 660 Madison Avenue building in Manhattan, home to Barneys New York.
GLOBAL RANK: 7
$30 BILLION
BRAZIL, Mining, Oil
Brazil’s richest man is riding high on oil fever. His oil and gas driller, OGX Petróleo e Gás, produced its first oil in a test well offshore in late January; his 61% stake in the company is worth $19.8 billion—two-thirds of his net worth. The bombastic entrepreneur is also betting on his former passion, gold: In March 2011 he spent $1.5 billion to take private Canadian-listed Ventana Gold, which owns what he says is an incredibly promising mine in Colombia.
Iris Fontbona & family
GLOBAL RANK: 32
$17.8 BILLION
CHILE, Mining
Fontbona is the widow of mining and banking magnate Andrónico Luksic, who died in 2005. Her family controls Antofagasta, one of the world’s largest copper miners. A decline in the miner’s share price shaved nearly $1.4 billion off her net worth since March 2011. The clan also holds shares in Quiñenco, a consumer packaging and beverage maker. During a December 2011 telethon, Fontbona publicly donated $3 million to help Chileans with disabilities.
David Thomson & family
GLOBAL RANK: 35
$17.5 BILLION
CANADA, Media
Thomson, a camera-shy media magnate and chairman of Thomson Reuters, stepped into the spotlight this past year with a deal in which he helped buy the National Hockey League’s Atlanta Thrashers, relocate them to Canada and rename them the Winnipeg Jets. Thomson’s net worth fell $5.5 billion due to a near 30% drop since March 2011 in Thomson Reuters’ share price.
GLOBAL RANK: 37
$17.4 BILLION
MEXICO, Retail, Media
Salinas Pliego is the world’s biggest gainer in dollar terms. His net worth is $9.2 billion higher than a year ago thanks to a more than doubling of the share price of Mexico-listed home appliance and electronics retailer Grupo Elektra. Analysts point to a small float as one reason for the price spike; an equity swap with UBS and a new placement on the Mexican stock index further reduced supply and drove share prices higher. He also controls Mexico’s second-largest broadcaster, TV Azteca, and wireless phone company Iusacell.
GLOBAL RANK: 38
$16.5 BILLION
MEXICO, Mining
Bailleres chairs Mexico’s second-largest mining company, Industrias Peñoles, one of the world’s largest silver miners. Thanks to higher prices for precious metals and the opening of his El Saucito mine in Zacatecas, his fortune is up $4.6 billion since 2011 on a steep rise in Industrias Peñoles’ share price; his 69% stake is worth $13.4 billion. He is reportedly a patron of bullfighting
German Larrea Mota Velasco & family
GLOBAL RANK: 48
$14.2 BILLION
MEXICO, Mining
The media-shy Larrea reigns as Mexico’s copper king. His copper producer, Grupo México, had another stellar year, revenue-wise. But with stock prices slightly down, Larrea and his family, who control 51% of the mining conglomerate, saw their fortune drop by $1.8 billion since last year. Larrea remains elusive, avoiding journalists and photographers.
GLOBAL RANK: 52
$13.8 BILLION
BRAZIL, Banking
Brazil’s wealthiest banker is expanding his turf. His Grupo Safra announced in November it would spend roughly $1.1 billion to acquire control of Bank Sarasin, a private bank in Switzerland, from Rabobank of the Netherlands. Safra paid $285 million early last year for the office space of the 660 Madison Avenue building in Manhattan, home to Barneys New York.
GLOBAL RANK: 64
$12.4 BILLION
COLOMBIA, Banking
Sarmiento, once Colombia’s top builder, parlayed his construction fortune into a financial services empire, Grupo Aval Acciones y Valores, with stakes in 4 Colombian banks, a leasing company and a pension fund. His son, Luis Carlos Sarmiento Gutiérrez, is the chief executive officer of Grupo Aval.
GLOBAL RANK: 67
$12.2 BILLION
BRAZIL, Diversified
Revered businessman is the former chairman of family-owned conglomerate Grupo Votorantim, whose activities span steel, metals and cement. His net worth has jumped $6.9 billion since last year due to new information that Antonio and his family own all of Grupo Votorantim, not 25% of it, as previously estimated.
Jorge Paulo Lemann
GLOBAL RANK: 69
$12 BILLION
BRAZIL, Beer, Investments
One-time investment banker built a fortune in beer with a controlling stake in Anheuser-Busch InBev. Now he and his longtime partners, Marcel Telles and Carlos Alberto Sicupira (see), are trying to turn around hamburger chain Burger King.
Eliodoro, Bernardo
& Patricia Matte
GLOBAL RANK: 86
$10.2 BILLION
CHILE, Diversified
Siblings Eliodoro, Bernardo and Patricia share a fortune based on forestry and paper products as well as stakes in telecom, banking and shipping firms. Last May, Eliodoro stepped down as president of 5 of Grupo CMPC’s holdings. Bernardo oversees the family’s stake in Banco Bice.
GLOBAL RANK: 97
$9.5 BILLION
COLOMBIA, Beer
Santo Domingo Dávila became the face of the Santo Domingo Group after his father, 87-year-old Julio Mario Santo Domingo, died in October 2011. A Harvard history grad, Alejandro is the eldest son from the jet-setting beer magnate’s second marriage. In 2005 Julio Mario swapped control of his Bavaria brewery for 15% of SABMiller. The Santo Domingo Group holds a 14% stake now worth $9 billion.
GLOBAL RANK: 98
$9.3 BILLION
CHILE, Retail
Paulmann and his family own 63% of Cencosud, one of Latin America’s largest retailers, with malls, supermarkets, department stores, an insurance brokerage, entertainment centres and a travel agency. Last year, Cencosud stores were raided when the government accused the retailer of sending goods from Argentina and passing them off as relief for the 2010 earthquake to avoid taxes. Paulmann vehemently denied all accusations.
GLOBAL RANK: 121
$7.6 BILLION
CANADA, Retail
Weston stepped down from the board of retailer Associated British Foods late last year. He still serves as executive chairman of George Weston, the Canadian food and retail giant founded by his grandfather in 1882. In July, his Selfridges unit purchased Ogilvy’s, a Montreal department store chain, for an undisclosed amount.
Carlos & Alejandro
Bulgheroni
GLOBAL RANK: 199
$5.1 BILLION
ARGENTINA, Oil
The brothers turned Bridas, an oil services company founded by their father, into Argentina’s second-largest oil and gas company. In 2010, China National Offshore Oil Co. (CNOOC) paid $3.1 billion for a 50% stake. Last year, Bridas agreed to buy 60% of Pan American Energy from British oil giant BP for $7.1 billion, but Bridas terminated the deal in November.
Carlos Alberto Sicupira
GLOBAL RANK: 196
$5.2 BILLION
BRAZIL, Bee r, Investments
GLOBAL RANK: 178
$5.7 BILLION
BRAZIL, Beer, Investments
Partners of billionaire Jorge Paulo Lemann (see), Marcel Telles and Carlos Sicupira share control with him of Anheuser-Busch InBev, the world’s largest beer company, and hamburger chain Burger King. The trio also control Brazilian retailer Lojas Americanas.
James & Arthur Irving
GLOBAL RANK: 205
$5 BILLION
CANADA, Diversified
Brothers James and Arthur head the family’s New Brunswick business conglomerate, which includes oil, natural gas, gas stations, timber, shipbuilding and more. Its Irving Shipbuilding’s Halifax Yard won a monstrous contract in October 2011 to build $25 billion worth of frigates, destroyers and patrol ships for the Canadian military.
Dorothea Steinbruch & family
GLOBAL RANK: 232
$4.5 BILLION
BRAZIL, Steel
Steinbruch and her children control one of Brazil’s largest steelmakers, Companhia Siderúrgica Nacional (CSN), with $9 billion in revenues and a $15 billion market capitalisation. Their net worth dropped by $1.3 billion since last year as CSN share prices fell. Dorothea’s son Benjamin serves as chairman and chief executive of CSN.
(This story appears in the 30 March, 2012 issue of Forbes India. To visit our Archives, click here.)
