Mexican businessman Ricardo Salinas Pliego has an estimated net worth of $11 billion as of April 2019. According to Forbes.com, he is #111 on the World Billionaires List (#37 in 2012). Born Ricardo Benjamin Salinas Pliego, he graduated from the Tecnologico de Monterrey. He then earned his MBA from Tulane University. He succeeded his father as the CEO of Grupo Elektra in 1987. The company was founded in 1906 and was called Salinas and Rocha. It began as a furniture manufacturing firm which later expanded into consumer appliances. Upon his chairmanship, he refocused the company to manufacturing basic products; appliances, electronics and furniture while targeting Mexico’s lower middle income consumers. He has provided credit sales as well as diverse financial products and services by adding a consumer finance arm.

Mr. Pliego has also been the chairman of TV Azteca, one of the world’s two largest producers of Spanish-language TV programs, since 1993. The network launched Azteca America 2001. It became a popular Spanish-language channel in the U.S. with affiliate in 62 markets that included Los Angeles, New York, Chicago, Miami and Houston. It also reaches 89 percent of the Hispanic population in the U.S.

Ricardo Salinas Pliego also takes charge on Unefon, a telecommunications company, as well as Grupo Iusacell, a wireless communications firm. In April 2012, he also purchased Advance America, the largest cash advance company in the U.S. He is a philanthropist whose Azteca Foundation promotes youth orchestra across Mexico.