Jeronimo Arango Net Worth
Below is a table containing information about Jeronimo Arango’s Net Worth, Salary, Birthdate, Birthplace, Gender, Height, Profession, and Nationality:
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $4.4 billion | N/A | N/A | Mexico | Male | N/A | Businessman | Mexican |
Highlights
– Jeronimo Arango has a net worth of $4.4 billion.
– He is a Mexican businessman and co-founder of the Aurrerá chain of supermarkets.
– Arango’s business eventually turned into Grupo CIFRA, which included the largest supermarket chain in Mexico.
– He made a partnership with Sam Walton’s Wal-Mart empire, bringing Wal-Mart retail stores to Mexico.
– Jeronimo and his brothers sold their stake in retailer Cifra to Wal-Mart’s Mexican arm for over $2 billion.
– He is the brother of Manuel Arango, who is involved in philanthropy.
– Jeronimo and his wife live a quiet life in Los Angeles.
– He is an Academy Awards’ winner for producing a documentary about pre-Hispanic life in the 1970s.
Early Life
Jeronimo Arango was born in Mexico but detailed information about his birthdate is unavailable. He grew up alongside his two younger brothers, Manuel and Placido.
Career
In 1958, Jeronimo Arango and his brothers founded the Aurrerá chain of supermarkets in Mexico after being inspired by the discount shopping culture they witnessed during a trip to New York. The business started with just one discount store but flourished over time. It eventually became Grupo CIFRA, which encompassed the largest supermarket chain in Mexico, as well as restaurants and fashion stores.
Arango made a significant move in 1991 when he partnered with Sam Walton’s Wal-Mart empire. This partnership brought Wal-Mart retail stores to Mexico and greatly expanded the business empire of the Arango brothers.
In 1997, Jeronimo and his brothers sold their stake in retailer Cifra to Wal-Mart’s Mexican arm in a deal worth over $2 billion. This successful transaction further contributed to Jeronimo’s net worth.
Personal Life
Jeronimo Arango is said to lead a quiet life in Los Angeles alongside his wife, who is the president of the Mexican Folk Art Museum. He has a passion for documentary filmmaking and won an Academy Award for producing a well-known documentary about pre-Hispanic life in the 1970s.
Net Worth Over Time
Jeronimo Arango’s net worth has significantly grown over the years. Starting with the founding of the Aurrerá chain of supermarkets, the Arango’s business empire expanded, leading to the formation of Grupo CIFRA. The partnership with Sam Walton’s Wal-Mart empire further propelled their success. Eventually, the sale of their stake in retailer Cifra to Wal-Mart’s Mexican arm cemented their financial success.
Components of Net Worth
Jeronimo Arango’s net worth of $4.4 billion primarily comes from his business ventures, particularly the success of the supermarkets under the Grupo CIFRA umbrella. Additionally, the sale of their stake in Cifra to Wal-Mart’s Mexican arm greatly contributed to his net worth.
Note: All net worths mentioned in this article are calculated using data drawn from public sources. While efforts have been made to ensure accuracy, the figures provided are estimates. Corrections and feedback are welcome.