David Penaloza Sandoval was born in Mexico. David Peñaloza Sandoval joins the Forbes billionaires list this year as a result of the soaring stock price of construction firm Pinfra. Shares rose more than 70% in the past year. Penaloza is Chairman of the company and his son David Penaloza Alanis is the CEO. Pinfra owns 16 toll-road concessions in some of the most densely populated areas of Mexico. Penaloza started the precursor to Pinfra, called Grupo Tribasa, in 1969. The peso devaluation of 1994 forced Tribasa to declare bankruptcy when it couldn't pay back dollar-denominated debt from international lenders. He was able renegotiate the debt and took on new partners to reshape Tribasa Into Promotora y Operadora de Infraestructura ("Infrastructure Promotions & Operation), or Pinfra. He studied accounting at the Universidad Nacional Autonoma de Mexico.