Why Emilio Azcárraga Jean is no longer one of the richest men in Mexico

Emilio Azcárraga Jean is the owner of Televisa and one of the richest businessmen in Mexico. According to the American magazine Forbes, the tycoon currently has an estimated fortune of USD 770 million. This 2021, the Mexican occupied the last steps of the famous ranking of the wealthiest men in Mexico.

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Although Emilio Azcárraga Jean remains on the list of the richest businessmen in Mexico, his fortune has suffered constant losses in the last 10 years. According to the latest update of the Forbes annual ranking, a Mexican businessman lost a fifth of his fortune in 2021.

Compared to 2020, Emilio Azcárraga Jean fell seven positions in the ranking of the greatest fortunes in Mexico, since a year ago his net worth was valued at USD 990 million.

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Emilio Azcárraga Jean is a Mexican businessman, currently Chairman of the Board of Directors of Televisa (Photo: Getty Images)

WHY IS EMILIO AZCÁRRAGA JEAN NO LONGER ONE OF THE RICHEST MEN IN MEXICO?

On October 22, 2017, Televisa reported that Emilio Azcárraga Jean would cease to be the company’s CEO. However, in a statement the company specified that Azcárraga would continue as Chairman of the Board of Directors and “will continue to lead the development of the company’s long-term strategy, occupying the position of Executive Chairman of the Board of Directors.”

Likewise, Azcárraga continues to have direct responsibility for the soccer division of Grupo Televisa, including the América team, as well as the Televisa Foundation.

The name of Emilio Azcárraga Jean has given rise to talk after the publication of the ranking of the richest businessmen in Mexico by Forbes magazine. The 54-year-old businessman’s fortune has seen steady losses over the past decade.

This caused Emilio Azcárraga Jean to leave the top ten of the richest businessmen in Mexico, in which he ranked tenth for the last time in 2013. On that occasion, his fortune reached USD 2.5 billion.

In this way, the businessman left the ranking in 2014 because entrepreneurs Daniel Servitje Montull and Juan Antonio González Moreno entered the ranking, with fortunes of USD 4.8 billion and USD 4.7 billion, respectively.

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By 2020 Azcárraga Jean dropped 20 places in the famous list of Mexican businessmen and also left the annual Billonaires ranking. Last year its assets were valued at USD 990 million.

This 2021, he registered losses again and Emilio Azcárraga Jean has an estimated fortune of USD 770 million.

According to some analysts in the media, according to Infobae, the businessman’s losses are related to the new consumption habits of the Mexican audience and to the costs of telecommunications and internet services, which have decreased and allowed access to the public to streaming platforms or social networks.

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