Jeronimo Arango’s profile picture

Jeronimo Arango

Jeronimo Arango’s profile picture
Net worth 2018: $4.38 Billion
Residence: Los Angeles, California
Country: Mexico
BirthDay: 1925
BIOGRAPHY

Jeronimo Arango was bornon 1925 in Los Angeles, California, Mexico. Jeronimo Arango is #500 in List Billionaires People In The World. Jeronimo Arango and his two brothers, Manuel and Placido, sold a majority stake in discount retailer Cifra to Wal-Mart's Mexican arm in 1997 for a reported $1.2 billion in cash. Jeronimo founded the predecessor to Cifra with his brothers in 1958. The brothers stay out of the spotlight. Jeronimo is said to live a quiet life in Los Angeles. Manuel, a real estate developer, founded the Mexican Center For Philanthropy and is an advocate of philanthropy targeted at social issues and the environment. Placido has owned a chain of restaurants and collects art.

NET WORTH STATISTIC
2009

$3.4 Billion

2010

$4 Billion

2011

$4 Billion

2012

$4 Billion

2013

$4 Billion

2014

$4.2 Billion

2015

$4.3 Billion

2016

$4.4 Billion

2017

$4.2 Billion

2018

$4.38 Billion

TIMELINE
2007

In the 2007 Billionaires issue Forbes new estimate is 4

2006

6 billion United States dollars in 2006 by Forbes magazine

1997

By 1997 the Arango family decided to sell majority shareholding of CIFRA to Wal-Mart in a transaction worth over $2 billion

1991

By 1991 Arango partnered with Sam Walton's Wal-Mart empire, a move which eventually brought the Wal-Mart retail stores to Mexico

1970

He won two Academy Awards in the 1970s for the production of a well-known documentary about pre-Hispanic life

1958

Arango founded his Aurrerá discount stores in 1958 after a trip to New York where he witnessed people standing in long lines to obtain discounts at stores; he decided to open one that sold at discount, emphasizing cost over other niceties

1925

Jerónimo Arango (born 1925) is a Mexican businessman, co-founder of the Aurrerá chain of supermarkets along with his 2 younger brothers, Manuel and Placido, known for a long time as three of Mexico's wealthiest men

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