Hugo Salinas Price
Hugo Salinas Price | |
|---|---|
| Born | March 11, 1932 Bryn Athyn, Pennsylvania, United States |
| Occupation(s) | Entrepreneur, investor, philanthropist |
| Known for | Founder of Elektra retail chain |
Hugo Salinas Price (born March 11, 1932) is a prominent Mexican entrepreneur, investor, and philanthropist. He is the founder of the Elektra retail chain in Mexico and holds significant ownership in gold and silver mining operations located in Durango.
Biography
Salinas Price was born in Bryn Athyn, Pennsylvania, the hometown of his mother. His uncle, Benjamin Salinas Westrup, along with his stepbrother Joel Rocha, established the furniture business Salinas y Rocha, which experienced rapid growth by utilizing credit-based sales.
He completed his secondary education at the Academy of the New Church Secondary Schools in 1949 and pursued further studies at the Wharton School of the University of Pennsylvania, the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), and later studied law at Universidad Nacional Autónoma de México (UNAM).
Elektra originated as a manufacturing facility producing electronics for Salinas y Rocha. In 1952, Salinas Price assumed the role of director and launched the inaugural Elektra retail outlet in 1959, introducing appliance sales on installment plans. By 1968, Elektra had expanded to 12 stores across the country. He stepped down in 1987, passing control of the 59-store chain to his son, Ricardo Salinas Pliego.
Other roles
- Founder and president of Mexican Civic Association Pro Silver, A.C., since 1997
- Honorary president of Grupo Elektra since 1993
Books
- La plata: El camino para México (1996)
- Mis años con Elektra (2000)