Ricardo Salinas Pliego

Ricardo Salinas Pliego is a CPA graduate of the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM). After earning an MBA at Tulane University, he joined Elektra in 1981 as import manager. He learned the business moves when the company faced dire financial straits at the continuing devaluation of the eighties. Between 1981 and 1986, Salinas experimented with other businesses such as a restaurant in Monterrey, satellite dishes and the sale of systems multi communication.{{cite web|author=Ricardo Salinas|url=https://www.ricardosalinas.com/en/Biography|title= Profile Ricardo Benjamín Salinas Pliego|date=|access-date=3 February 2021|publisher=}}

In 1987 Ricardo succeeded his father Hugo Salinas Price as CEO of Grupo Elektra. The company began as a family-owned furniture manufacturing company called Salinas & Rocha founded in 1906 by Salinas' great-grandfather, Benjamin Salinas. In 1950, Hugo Salinas Rocha created Grupo Elektra and when Ricardo Salinas became CEO of the company in 1987 he refocused Elektra on basic products: appliances, electronics, and furniture. Significantly, he developed at Elektra a vast new consumer market among Mexico's lower middle income consumers by providing credit sales and diverse financial products and services.{{cite web|author=Grupo Salinas|url=https://www.gruposalinas.com/en/historia|title=Our history|date=2019|access-date=3 February 2021|publisher=}}

Grupo Elektra expanded further and became Mexico's biggest consumer-finance company when, in 2002, it won the first banking license granted to any Mexican institution in nearly a decade. The strategy was to build new markets by creating new buying power among classes of people largely ignored by most other major Mexican businesses. Thus was born Banco Azteca, which currently has operations in Mexico, Panama, Guatemala and Honduras. Subsequently, Grupo Elektra obtained two financial licenses from the federal government to create Seguros Azteca and Afore Azteca.

Salinas is also chairman of TV Azteca, one of the world's two largest producers of Spanish-language television programming. Under his leadership, TV Azteca broke Mexico's long-standing television monopoly through the successful privatization of a media package offered by the government.

In 2001, TV Azteca launched Azteca America, a wholly owned Spanish-language broadcasting network aimed at the 50 million-strong Hispanic population of the United States. Azteca America had affiliates in 70 markets, including Los Angeles, New York City, Chicago, Miami and Houston, reaching 89 percent of the Hispanic population in the U.S. Azteca America was sold to HC2 Holdings in 2017.{{cite web|author=TV Azteca|url=http://www.irtvazteca.com/News/PDF.aspx?idPdf=1825&lang=es&tp_doc=4&sit=15|title= TV Azteca announces the sale of Azteca America to HC2 Network Inc.|date=29 November 2017|access-date=3 February 2021|publisher=}}

In 2003, Salinas bought Iusacell (the first cell phone company in Mexico) and four years later, merged it with Unefon, another cell phone company, founded by him in 1999. However, in early 2015, Grupo Salinas announced the sale of Iusacell to AT&T{{cite web|author=Grupo Salinas|url=http://www.gruposalinas.com.mx/ComunicadosVisor.aspx?r=15032|title=Sale of Grupo Iusacell to AT&T for US$2,500 million is completed|date=2015|access-date=10 February 2015|publisher=Grupo Salinas}} Today, with Totalplay, offers the most innovative internet and television services and telephony via fiber optics to home. Also, Totalplay Empresarial provides broadband internet access video surveillance, broadband interfaces, videoconferencing, among other services to institutions and companies throughout Mexico.{{cite web|author=Totalplay Empresarial|url=https://totalplayempresarial.com.mx/|title= Totalplay Empresarial (Spanish)|date=|access-date=3 February 2021|publisher=}}

In 2012, Grupo Elektra acquired Advance America, —currently Purpose Financial{{cite web|author= Purpose Financial|url=https://havepurpose.com/|title=Purpose Financial|date=|access-date=3 February 2021|publisher=}}—, a company that provides short-term non- bank loans in the United States. Also put into operation Punto Casa de Bolsa. The Group operates more than six thousand points of contact in Mexico, United States, Guatemala, Honduras, Peru and Panama.

Salinas has participated and addressed The World Economic Forum, The Economist Roundtable on Mexico, the Young Presidents' Organization, UCLA, the Institute of the Americas, Harvard Business School and TED, where he discussed issues related to globalization, education, entrepreneurship, freedom and opportunity in the BOP. He also has a blog where he publishes his business, political, economic and cultural ideas. His articles have been published in The New York Times, The Boston Globe, The Hill, Newsweek in Spanish, La Opinión, and regularly writes in the Mexican press. Mr. Salinas was the first Mexican to elect the board of trustees of the Aspen Institute.{{cite web|author=The Aspen Institute|url=https://www.aspeninstitute.org/news/press-release/six-leaders-elected-aspen-institute-board-trustees-2014/|title=Six Leaders Elected to Aspen Institute Board of Trustees|date=16 April 2014|access-date=3 March 2015|publisher=Aspen Institute}}

It was announced in 2020 that Salinas had 10% of his liquid portfolio invested in Bitcoin.{{Cite news|date=2020-11-18|title=Billionaire Salinas Has 10% of 'Liquid Portfolio' in Bitcoin|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-11-18/billionaire-salinas-has-10-of-liquid-portfolio-in-bitcoin|access-date=2021-03-29}}

Salinas formed the nonprofit Fundación Azteca in 1997 to address a broad range of social problems with ongoing campaigns in healthcare and nutrition, education, and the protection of the environment. It is a foundation that finances and supports other foundations. Fundación Azteca has raised millions of dollars, benefiting hundreds of thousands of lives.

In April 2021, the Ricardo B. Salinas Pliego Center was inaugurated,{{cite web|author=Yanin Alfaro|url=https://www.milenio.com/negocios/ricardo-salinas-pliego-inaugura-centro-innovacion-pensamiento|title=Ricardo Salinas Pliego inaugura centro de innovación y pensamiento crítico (Spanish)|date=15 April 2021|accessdate=16 June 2021|publisher=Milenio}}{{cite web|author=Centro Ricardo B. Salinas Pliego|url=https://centroricardobsalinaspliego.org/|title=Home Centro Ricardo B. Salinas Pliego (Spanish)|date=April 2021|accessdate=16 June 2021|publisher=}} a space that seeks to promote the development of ideas that contribute to the transformation of Mexico, based on six lines of action: Freedom, Rule of Law, Education, Leadership, Art and Culture, and Innovation and Entrepreneurship. The initiative is made up of the following programs: Arte & Cultura,{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/Arte-y-Cultura-Grupo-Salinas|title=Arte y Cultura Grupo Salinas|date=2019|access-date=15 February 2021|publisher=}} through which artistic and cultural activities are promoted to raise the quality of life of society; Caminos de la Libertad,{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/caminos-de-la-libertad|title=Caminos de la Libertad|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Caminos de la Libertad|url=https://www.caminosdelalibertad.com/|title=Caminos de la Libertad|date=|access-date=2 February 2021|publisher=}} a space for reflection on different aspects of freedom that seeks to raise awareness of its value and Kybernus,{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/Kybernus-Liderazgo|title=Kybernus|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Kybernus|url=https://www.kybernus.org/|title=Kybernus|date=|access-date=2 February 2021|publisher=}} which promotes the formation of young leaders from the local level.

Salinas has been involved in a series of political and financial scandals (which include investigations by the American Securities and Exchange Commission and the Mexican Comisión Nacional Bancaria y de Valores), and has been linked to ex-President Carlos Salinas de Gortari.[http://www.jornada.unam.mx/2005/04/29/028n1eco.php Salinas Pliego, culpable de violar la Ley del Mercado de Valores: CNBV] Salinas was charged by the American Securities and Exchange Commission in January 2005 with being engaged in an elaborate scheme to conceal Salinas's role in a series of transactions through which he personally profited by $109 million.{{cite news|url=http://news.bbc.co.uk/2/hi/business/4147975.stm|title=SEC accuses Mexican firm of fraud|date=5 January 2005|publisher=|accessdate=10 September 2016|via=bbc.co.uk}} The SEC complaint also alleged that Salinas and Padilla sold millions of dollars of TV Azteca stock while Salinas's self-dealing remained undisclosed to the market place.{{cite web|url=https://www.sec.gov/news/press/2005-1.htm|title=Press Release: SEC Charges TV Azteca And Its Chairman - Ricardo Salinas Pliego - with Fraudulent Scheme to Conceal Salinas' $109 Million Windfall Through Related Party Transactions; 2005-1; January 4, 2005|publisher=|accessdate=10 September 2016}} This was settled in September 2006 with Salinas required to pay $7.5M while not admitting guilt. Esteban Moctezuma (ex-Secretary of Interior of PRI President Ernesto Zedillo), was appointed as chief executive officer of Fundación Azteca in 2002 by Salinas Pliego. His daughter, Ninfa, entered to the PVEM party (linked to the PRI party, some old but now of recent political endeavor) in 2009.

{{Main|2012 Mexican general election|2011–12 Mexican Primera División season}}

Salinas decided to air the 2011–12 quarter final game between Tigres de la UANL and Monarcas Morelia, two professional football teams from the Mexican Primera División, during the same time as the presidential debate of the 2012 Mexican general elections. The day of these two events were set for 6 May 2012.{{cite news|title=Salinas Pliego prioriza futbol sobre debate presidencial|url=http://deportes.terra.com.mx/futbol/clausura/2012/salinas-pliego-prioriza-futbol-sobre-debate-presidencial,5d11e2875d507310VgnVCM5000009ccceb0aRCRD.html|accessdate=1 May 2012|newspaper=Terra Networks|date=30 April 2012|language=es}}

He posted on Twitter the following message on 30 April 2012:

{{Quotation|If you want to see the debate, watch it on Televisa; if not, watch the game on TV Azteca. I'll give you the ratings the following day.{{cite news|title=Si quieren debate, véanlo por Televisa: Salinas Pliego|url=http://www.informador.com.mx/economia/2012/373127/6/si-quieren-debate-veanlo-por-televisa-salinas-pliego.htm|accessdate=1 May 2012|newspaper=El Informador|date=30 April 2012|language=es}}}}

Emilio Azcárraga Jean, the CEO of Televisa, posted a message on Twitter to "clarify the doubts" by stating that it was not Televisa who was planning to air the game between Tigres and Morelia, but rather TV Azteca, the closest television competitor to his company.{{cite news|title=Si quieren debate, véanlo por Televisa: Salinas Pliego|url=http://www.eluniversal.com.mx/notas/844610.html|accessdate=1 May 2012|newspaper=El Universal|date=1 May 2012|language=es}}

The Federal Electoral Institute (IFE) and its president, Leonardo Valdés Zurita, asked for TV Azteca to not air the game at the same time as the presidential debate. According to Zurita, the IFE has already set up the permissions and invitations to carry out the debate, but also recognized that other media companies can air programs they consider relevant.{{cite news|title=IFE pide a la TV no 'empalmar' juego de fut con debate|url=http://www.eluniversal.com.mx/notas/844600.html|accessdate=1 May 2012|newspaper=El Universal|date=30 April 2012|language=es}} In addition, the electoral councils in Mexico recognized that this incident will leave the Mexican people with two difficult dilemmas: "watch football or the presidential debate between Josefina Vázquez Mota (PAN), Enrique Peña Nieto (PRI), Andrés Manuel López Obrador (PRD) and Gabriel Quadri de la Torre (PANAL)."{{cite news|title=Se transmite fútbol y no debate presidencial: Salinas|url=http://redpolitica.mx/ruta-electoral/se-transmite-futbol-y-no-el-debate-presidencial-salinas-pliego|accessdate=1 May 2012|newspaper=El Universal|date=30 April 2012|language=es}} Nonetheless, the majority of the messages posted on Twitter criticized Salinas Pliego for this incident.{{cite news|title=Salinas Pliego ofrece: si no quieren debate, vean el futbol|url=http://www.adnpolitico.com/2012/2012/04/30/salinas-pliego-ofrece-si-no-quieren-debate-vean-el-futbol|archive-url=https://web.archive.org/web/20120504202057/http://www.adnpolitico.com/2012/2012/04/30/salinas-pliego-ofrece-si-no-quieren-debate-vean-el-futbol|url-status=usurped|archive-date=May 4, 2012|accessdate=1 May 2012|newspaper=ADN Politico|date=30 April 2012|language=es}}

Following the decision of Salinas, the internet group Anonymous "attacked" the official website of Grupo Salinas on 1 May 2012, posting on Twitter that they wanted the presidential debate and not the football game.{{cite news|title=Anonymous ataca web de Grupo Salinas|url=http://www.eluniversal.com.mx/notas/844785.html|accessdate=3 May 2012|newspaper=El Universal|date=1 May 2012|language=es}} The official webpage—www.gruposalinas.com—was not available for some time.{{cite news|title=Anonymous ataca web de Grupo Salinas|url=http://www.informador.com.mx/tecnologia/2012/373344/6/anonymous-ataca-web-de-grupo-salinas.htm|accessdate=3 May 2012|newspaper=El Informador|date=1 May 2012|language=es}}

On 3 May 2012, the IFE acknowledged that TV Azteca decided to air the presidential debate on XHTVM-TV, commonly referred to as Proyecto 40.{{cite news|title=Confirma TV Azteca que trasmitirá debate por Canal 40|url=http://www.milenio.com/cdb/doc/noticias2011/1472005d2d93788edef2f9d906af8ec0|archive-url=https://archive.today/20121228211500/http://www.milenio.com/cdb/doc/noticias2011/1472005d2d93788edef2f9d906af8ec0|url-status=dead|archive-date=28 December 2012|accessdate=4 May 2012|newspaper=Milenio|date=3 May 2012|language=es}} On his defense, Salinas said on 4 May 2012 that the "majority of the population is not interested in the presidential debate."{{cite news|title=A la mayoría de la población no le interesa el debate: Salinas Pliego|url=http://mexico.cnn.com/nacional/2012/05/04/a-la-mayoria-de-la-poblacion-no-le-interesa-el-debate-salinas-pliego|accessdate=5 May 2012|newspaper=CNNMéxico|date=4 May 2012|language=es}} He claimed that only 15% of the population is interested in the debate, while 54% of them claim they are not interested at all. If the statistics were different, he said, then he would have adjusted his strategy. Salinas then said that his business "understands well" the preferences of the population and takes decisions accordingly.

During the COVID-19 pandemic, Salinas Pliego (previously an economic ally of President López Obrador) repeatedly called the public to ignore official social distancing and quarantine measures, expressing concerns that the economy and freedom should not be tampered with. He ordered his tens of thousands of employees at his several companies to remain working normally, the private schools he owns remained open, and via his TV channel, TV Azteca, the businessman disseminated opposition to government health measures to the population at large.{{Cite web |last=Beauregard |first=David Marcial Pérez, Luis Pablo |date=2020-04-18 |title=Ricardo Salinas Pliego, el millonario mexicano que niega la pandemia |url=https://elpais.com/internacional/2020-04-18/ricardo-salinas-pliego-el-millonario-mexicano-que-niega-la-pandemia.html |access-date=2023-09-05 |website=El País |language=es}}{{Cite web |last=Zabludovsky |first=Karla |date=2021-03-03 |title=This Billionaire Has Been Partying Through the Pandemic While His Company's Workers Died |url=https://www.buzzfeednews.com/article/karlazabludovsky/ricardo-salinas-pliego-billionaire-mexico-workers-covid |access-date=2023-09-05 |website=BuzzFeed News |language=en}}

• Grupo Salinas.
• Retail and Financial Services:
• Grupo Elektra.
• Purpose Financial.{{cite web|author= Grupo Elektra|url=https://www.grupoelektra.com.mx/es/purpose-financial|title=Purpose Financial|date=|access-date=2 February 2021|publisher=}}
• Punto Casa de Bolsa.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/punto-casa-de-bolsa|title=Punto Casa de Bolsa|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Punto Casa de Bolsa|url=https://www.puntocasadebolsa.mx/Portal/publicoNuevo/index.jsp|title=Punto Casa de Bolsa|date=|access-date=2 February 2021|publisher=}}
• Banco Azteca.
• Seguros Azteca.
• Afore Azteca.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/afore-azteca|title=Afore Azteca|date=2019|access-date=15 February 2021|publisher=}}
• Tiendas Neto.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/tiendas-neto|title=Tiendas Neto|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Tiendas Neto|url=https://www.tiendasneto.com/|title=Tiendas Neto|date=2017|access-date=2 February 2021|publisher=}}
• Media:
• TV Azteca.
• Azteca Guatemala.
• Azteca Honduras.
• Telecommunications:
• Totalplay.
• Totalplay Empresarial.
• Motorcycles: Italika.
• Other companies:
• Upax.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/upax|title=Upax|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Upax|url=https://upax.com.mx/|title=Upax|date=2019|access-date=2 February 2021|publisher=}}
• Agencia i.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/agenciai|title=Agencia i|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Agencia i|url=https://www.agenciai.mx/|title=Agencia i|date=2020|access-date=2 February 2021|publisher=}}
• Promo Espacio.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/Promo-Espacio|title=Promo Espacio|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Promo Espacio|url=http://promoespacio.com.mx/PE/index.html|title=Promo Espacio|date=|access-date=2 February 2021|publisher=}}
• Grupo Dragón.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/grupo-dragon|title=Grupo Dragón|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Grupo Dragón|url=http://www.gdragon.com.mx/|title=Grupo Dragón|date=|access-date=2 February 2021|publisher=}}
• Totalsec.{{cite web|author= Grupo Salinas|url=https://www.gruposalinas.com/en/totalsec|title=Totalsec|date=2019|access-date=15 February 2021|publisher=}}{{cite web|author= Totalsec|url=https://www.totalsec.com.mx/|title=Totalsec|date=2020|access-date=2 February 2021|publisher=}}
• Social Value
• Fundación Azteca.
• Centro Ricardo B. Salinas Pliego.
• Kybernus.
• Arte y Cultura Grupo Salinas.
• Soccer
• Mazatlán F.C.

• List of Mexican billionaires
• List of people named in the Panama Papers

{{Reflist}}

{{Commons category|Ricardo Salinas Pliego}}

• [http://www.ricardosalinas.com Official website]
• [https://www.forbes.com/profile/ricardo-salinas-pliego/?list=rtb/&sh=2760fcbe1346 Forbes: Salinas Pliego & Family]
• [http://www.revistapoder.com/NR/exeres/E1563410-927C-4EC8-9D26-F621A53724AC.htm Revista Poder: Ricardo Salinas Pliego] (in Spanish)

{{Grupo Salinas}}

{{DEFAULTSORT:Salinas Pliego, Ricardo}}

Category:1955 births

Category:Mexican football chairmen and investors

Category:Businesspeople from Mexico City

Category:Mexican billionaires

Category:Mexican company founders

Category:Mexican mass media owners

Category:Mexican people of American descent

Category:Monterrey Institute of Technology and Higher Education alumni

Category:Tulane University alumni

Category:Freeman School of Business alumni

Category:Living people

Category:People named in the Panama Papers

Category:Mexican television executives

Category:TV Azteca people

Category:People named in the Paradise Papers