Alberto Baillères, the “Silver King”, one of the richest men in Mexico, dies

RIO DE JANEIRO, BRAZIL – Businessman Alberto Baillères González, Chairman and CEO of Grupo BAL and Honorary Chairman of GNP, Profuturo, Grupo Palacio de Hierro, Industrias Peñoles and Fresnillo, who was considered the third richest man in Mexico and Latin America, died at the age of 90 last Wednesday night, February 2.

Through a press release, Grupo BAL confirmed the event to the Mexican Stock Exchange (BMV) on Thursday and said he will be remembered “as a visionary businessman, an exemplary Mexican, a romantic dreamer who triumphed and surpassed his goals, and the wonderful human being he was”.

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Alberto Baillères González was a member of the Management Group of Bancomer, Femsa, Grupo KUO and was a lover of bullfighting, whose fortune was valued at US$10.4 billion.

After 55 years as Chairman of Grupo BAL, in April 2021, Alberto Baillères appointed Alejandro Baillères, his son, as the new head of the holding company, retaining the role of Chairman Director and Honorary Chairman of the companies of GNP, Profuturo, Grupo Palacio de Hierro, Industrias Peñoles and Fresnillo plc.

Through various tweets, business people, officials, and former presidents such as Felipe Calderón, expressed their condolences.

One of the last major investments he made was in the Palacios Polanco department stores, to which he allocated US$300 million for remodeling, and which now has 22 luxury branches in Mexico.

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