German Larrea Mota Velasco: is there a family office?

German is the majority owner of Mexico’s mining company, Grupo Mexico, which is the largest mining company in Mexico and the third largest in the world.  Grupo Mexico has numerous operations in the US as well as Peru. German has been chairman, president and CEO of Grupo Mexico, he has been a director since 1997.  German has an estimated net worth of over $28bn and according to Forbes, he is ranked among the 70 richest people in the world. In this article, we will investigate whether German manages his wealth through a family office.

Larrea family office manages wealth through Grupo Mexico and subsidiary companies

 German Larrea Mota Velasco owns over 50% of the mining, which he inherited from his father, Jorge Larrea. Jorge amassed his fortune through the foundation of several mining and infrastructure companies located across Mexico, acquiring the title of the Copper King of Mexico. The remaining share of the family’s fortune is owned by German’s mother, Sara Mota de Larrea. German has used his platform to establish additional companies, such as Grupo Impresa, which has since been sold. Grupo Mexico also owns the subsidiary company, Southern Copper Corporation, which is responsible for the efficient extraction of mineral resources. German has also held positions at Empresarios Industriales de Mexico, Compañía Perforadora Mexico, Mexixo Compania Constructora and Fondo Inmobiliario. German maintains a low profile whilst Grupo Mexico continues to thrive. In 2023 the group published a record $14.3bn turnover.

Picture source: Vladimir Patkachakov