Germán Larrea Mota-Velasco
Germán Larrea Mota-Velasco | |
|---|---|
| Born | October 26, 1953 Mexico City, Mexico |
| Occupation(s) | Entrepreneur, Business executive |
| Years active | 1978–present |
| Known for | CEO of Grupo México, Chairman of Southern Copper Corporation |
Germán Larrea Mota-Velasco (born October 26, 1953) is a prominent Mexican billionaire entrepreneur and the chief executive officer of Grupo México, the largest mining corporation in Mexico and the third-largest copper producer worldwide. As of June 2025, his fortune was valued at approximately US$31.3 billion.
Career
Since 1994, Larrea Mota-Velasco has held the positions of chairman, president, and CEO at Grupo México, following his tenure as executive vice chairman and board member beginning in 1981. He has served as chairman of Southern Copper Corporation since 1999, where he was also CEO from 1999 until 2004 and has maintained a director role since then. Additionally, he has been chairman and CEO of Grupo Ferroviario Mexicano since 1997. Beyond these roles, he oversees several other companies including Empresarios Industriales de Mexico, Compania Perforadora Mexico, Mexico Compania Constructora, and Fondo Inmobiliario, acting as both chairman and CEO.
In 1978, he established Grupo Impresa, a publishing and printing enterprise which he led until its sale in 1989. His board memberships extend to Banco Nacional de Mexico (a division of Grupo Financiero Banamex), Consejo Mexicano de Hombres de Negocios, and Grupo Televisa.
Forbes has consistently ranked him as Mexico's second wealthiest individual behind Carlos Slim, including in the years 2015, 2016, and 2021. Larrea Mota-Velasco continues to be an influential figure within Mexico’s mining industry and broader business community.
In November 2020, he divested 100,000 shares of Southern Copper Corporation for $6 million while maintaining ownership stakes valued at roughly $121 million.
Personal life
Residing in Mexico City, Larrea Mota-Velasco is married and has one daughter. He is also involved in Thoroughbred horse breeding through St. George Stable. His mare Letruska achieved a historic milestone by becoming the first horse to compete in Mexico before securing a Grade I victory in the United States with a win at the Apple Blossom Handicap in 2021.