Born into a family of entrepreneurs, Ricardo Salinas Pliego was immersed in the world of business from an early age.

His grandfather, Benjamin Salinas Westrup, began the family business in 1906, importing European beds and later producing brass beds. In 1917, he joined forces with his brother-in-law and founded Salinas & Rochas, introducing an innovative system of single sales to private individuals. 1933 saw the arrival of Hugo Salinas Rocha, who modernized the company and founded Radiotecnica S.a., a small radio factory which became a supplier to Salinas y Rocha. In 1950, he launched Elektra, which, in addition to radios, also assembled television sets. This creation shook the alliance between Salinas and Rochas. Hugo Salinas left the management of the group and devoted himself to Elektra. Subsequently, the Salinas y Rochas group is sold to Liverpool’s El Puerto group, before returning to Grupo Elektra.

Part of Grupo Salinas and the 86 Salinas y Rochas stores were largely integrated into the Elektra chain. 

Despite this impressive entrepreneurial lineage, Ricardo Salinas did not forget about academics, obtaining a degree in accounting from the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) and an MBA from Tulane University. His entrepreneurial career began in 1987 with restructuring of the family group and creation of Grupo Salinas. Under his leadership, Elektra refocused on core products: household appliances, electronics and furniture. Salinas expands its activities by also becoming a platform offering financial services to low-income consumers.

In 2002, the group became the world’s largest consumer credit company, obtaining 1^st banking license granted to a Mexican institution in almost a decade.

Their strategy: to create new markets by creating purchasing power among categories of people previously ignored. Thus was born Banco Azteca, which currently operates in Mexico, Panama, Guatemala and Honduras. The group subsequently obtained two financial licenses from the federal government to create Seguros Azteca and Afore Azteca.
Under the aegis of Ricardo Salinas Pliego, Grupo Salinas has blossomed into a diversified empire, with interests in telecommunications (TV Azteca), finance (Banco Azteca), and retail (Elektra), among others. TV Azteca, in particular, has become 2^nd largest producer of Spanish-language television content, transforming the media landscape in Latin America. Here, Ricardo Salinas broke the government’s long-standing monopoly by privatizing a number of media outlets. Banco Azteca, meanwhile, has established itself as an innovative force in the banking sector, extending financial access to millions of Mexicans for the first time. With Totalplay, they offer the most innovative Internet and television services, as well as fiber-optic home telephony.

Several Group entities are listed on the stock exchange.

Grupo Elektra has been listed on the Mexican Stock Exchange since 1993. TV Azteca is listed in Mexico and New York.
Ricardo Salinas Pliego’s impact goes beyond the commercial success of his companies. He is a fervent advocate of entrepreneurship as a driver of social change, promoting education, culture and corporate social responsibility through the Azteca Foundation. His philanthropic initiatives aim to combat poverty, support education and promote sustainable development, thereby helping to improve living conditions in Mexico and beyond. Its philanthropic initiatives, in particular the annual “Juguetón” or “Toy Marathon”, have brought smiles to faces of millions of children, with over 13 million toys distributed to date.
The entrepreneur’s assets are the stuff of dreams. He owns a 104m-long, 36-cabin yacht worth $125M. The businessman also owns a private jet. He lives with his wife Maria Laura Medina in a large residence in Mexico City. The couple have 6 children, who are gradually making their mark on the family empire. The couple’s daughter, Ninfa Salinas Sasa, has even been a senator in Mexico.