Upon taking office in 2018, Andrés Manuel López Obrador, the President of Mexico, delivered a speech on austerity. He emphasized the dangers of wealth, arguing that it could lead to corruption. He also pledged to redefine the government's relationship with business leaders, whom he accused of profiting from the neoliberal economic system that has been in place in Mexico since the 1980s.
However, as Obrador's term draws to a close, Mexican business magnates are wealthier than ever. In fact, the fortunes of five of these individuals have doubled compared to their counterparts in Latin America, according to the Bloomberg ranking. Among the most notable are Carlos Slim Helú, the wealthiest man in Mexico and Latin America, who owns Carso, América Móvil, and Inbursa, and Germán Larrea Mota-Velasco, owner of Grupo México.
Fernando Chico Pardo, the majority shareholder of Southeast Airport Group (Asur), has also seen a significant increase in his wealth during Obrador's administration. Asur manages Cancún airport, among other businesses. Chico Pardo, already one of the ten richest people in Mexico, has reportedly increased his fortune by 220 percent. In 2018, he was worth one billion dollars, and now his wealth stands at three billion dollars. Chico Pardo's influence in the aviation industry has earned him the nickname "the man who controls the sky", as his group manages airports in Cancún, Cozumel, Huatulco, Mérida, Minatitlán, Oaxaca, Tapachula, Veracruz, Villahermosa, and San Juan, Puerto Rico.
Furthermore, Asur reported that over 2.5 million passengers passed through the Cancún and Cozumel airports in June 2024 alone.
Discover more from Riviera Maya News & Events
Subscribe to get the latest posts sent to your email.