Mario López Estrada
Mario López Estrada | |
|---|---|
| Born | 1938-03-21 Guatemala City, Guatemala |
| Died | 2023-03-20 |
| Occupation(s) | Entrepreneur, businessman |
| Known for | President and principal shareholder of Tigo Guatemala |
Mario López Estrada (21 March 1938 – 20 March 2023) was a prominent Guatemalan entrepreneur in the telecommunications sector and a billionaire. He held the positions of president and principal shareholder of Tigo Guatemala.
Biography
López Estrada pursued a degree in Civil Engineering at Guatemala’s San Carlos University. His professional journey commenced within public administration, working at both the Municipalidad de Guatemala and the Central Government. Subsequently, he transitioned into entrepreneurship, focusing on road construction and residential development. In 1972, he established Constructora Maya, an independent firm specializing in construction.
Between 1986 and 1991, López Estrada was appointed Minister of Communications, Infrastructure, and Housing during President Vinicio Cerezo’s administration. In 1993, he invested in Comunicaciones Celulares, the government-owned telecommunications company undergoing privatization. Through multiple acquisitions, his ownership eventually reached 45%. The company evolved into Guatemala’s leading mobile network provider and was renamed Tigo Guatemala. In 2021, Millicom purchased López Estrada’s 45% share in Tigo for US$2.2 billion.
According to Forbes, López Estrada attained billionaire status in 2015. He also founded and led the Tigo Foundation, dedicated to enhancing healthcare, education, and sports opportunities for children across Guatemala. From 2009 to 2017, this foundation was responsible for constructing 250 schools in rural communities.
Moreover, López Estrada maintained a minority ownership in the Guatemalan newspaper Prensa Libre.
Distinctions
- May 2017: Honored with the "Excellence in Business Recognition" award by Forbes during the Genius Disruption forum held in Guatemala City.