Jeronimo Arango, a Mexican entrepreneur, has a net worth of $4.4 billion.
After visiting New York in 1958, Jeronimo Arango founded the Aurrerá chain of supermarkets with his two younger brothers, Manuel and Placido, where he witnessed people lining up in long lines to get discounts at stores.
Grupo CIFRA was established by the Arango, which had a single discount store and expanded to include the largest supermarket chain in Mexico (Aurrerá and Superama stores), as well as restaurants (VIPs and El Portón) and fashion stores (Suburbia).
Arango entered into a partnership with Sam Walton’s Wal-Mart empire in 1991, which led to the expansion of Wal-Mart retail stores in Mexico. They then made a significant profit by selling their stake in Cifra to Wal-Mart’s Mexican division, which was worth over 2 billion dollars.
The Mexican Center for Philanthropy is headed by Jerónimo’s brother Manuel, who is also the president of 10 other non-profit organizations.
According to reports, Jeronimo and his wife, who is the president of the Mexican Folk Art Museum, lead a peaceful life in Los Angeles.
In addition to his business, he has been recognized by the Academy Awards for his contribution to a well-known documentary on pre-Hispanic life in the 1970s.