German Larrea Mota Velasco: is there a family office?

This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.

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. As of December 2022, German has an estimated net worth of $25.1bn and according to Forbes he is ranked 56^th richest person in the world. In this article, we will investigate if 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 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, Compania Perforadora Mexico, Mexixo Compania Cpnstructora and Fondo Inmobiliario. German maintains a low profile whilst Grupo Mexico continues to thrive, in 2021 the group published a record $3.4bn turnover in the first quarter in 2021.

Picture source: Vladimir Patkachakov