Jeronimo Arango & family

$4.30 B

Ranked #414 in World

About Jeronimo Arango & family

Jerónimo Julio Arango Arias, a pioneering Mexican billionaire who co-founded the Aurrerá supermarket chain, passed away due to natural causes on 4 April 2020. With a net worth peaking at US$4.6 billion in 2006, according to Forbes, Arango revolutionized retail in Mexico. Initiating the Aurrerá discount stores in 1958 inspired by New York's discount shopping model, his establishments, including Superama, VIPs, El Portón, and Suburbia under Grupo CIFRA, dominated as Mexico's largest supermarket chain. Arango’s noteworthy partnership with Wal-Mart in 1991 facilitated Wal-Mart's significant expansion in Mexico, culminating in a major acquisition by Wal-Mart in 1997 for over $2 billion. Residing in Los Angeles, California, with a vacation home in Acapulco designed by John Lautner, Arango's legacy in the retail industry is monumental.

Born

November 01, 1926 in Mexico

Died

April 04, 2020 (aged 93)

Source Of Wealth

Retail

Industries

Fashion & Retail

Citizenship

Mexico

Jerónimo Julio Arango Arias was born in 1927. Unfortunately, there is no information available about his early years and childhood.

Jeronimo Arango & family: Family

There is no information available about Jerónimo Julio Arango Arias's family.

Jeronimo Arango & family: Career Highlights

Jerónimo Julio Arango Arias co-founded the Aurrerá supermarket chain in 1958 after witnessing discount shopping in New York. Aurrerá and Superama stores, VIPs and El Portón restaurants, and Suburbia fashion stores under Grupo CIFRA became the largest supermarket chain in Mexico. He partnered with Wal-Mart in 1991, leading to Wal-Mart's expansion in Mexico. In 1997, he sold the majority shareholding of CIFRA to Wal-Mart for over $2 billion.

Jeronimo Arango & family: Companies

Jerónimo Julio Arango Arias was associated with the following companies:

Aurrerá
Superama
VIPs
El Portón
Suburbia
Grupo CIFRA
Wal-Mart

Jeronimo Arango & family: Major Achievements

Jerónimo Julio Arango Arias's major achievements include:

Co-founding Aurrerá, the largest supermarket chain in Mexico
Partnering with Wal-Mart and facilitating their expansion in Mexico
Selling the majority shareholding of CIFRA to Wal-Mart for over $2 billion

Jeronimo Arango & family: Awards & Achievements

There is no information available about Jerónimo Julio Arango Arias's awards and achievements.

Jeronimo Arango & family: Personal Life & Legacy

Jerónimo Julio Arango Arias resided in Los Angeles, California, with a vacation home in Acapulco designed by John Lautner (Marbrisa House). He passed away on 4 April 2020 due to natural causes. He is remembered as a successful businessman and entrepreneur who played a significant role in the development of Mexico's retail industry.

Jeronimo Arango & family: Trivia

There is no trivia information available about Jerónimo Julio Arango Arias.

Wealth History

Timeline

1927

Jerónimo Julio Arango Arias was born.

1958

Arango Arias founded Aurrerá discount stores after witnessing discount shopping in New York.

1991

Arango Arias partnered with Wal-Mart, leading to Wal-Mart's expansion in Mexico.

1997

Arango Arias sold majority shareholding of CIFRA to Wal-Mart for over $2 billion.

2006

Arango Arias' net worth was estimated at US$4.6 billion by Forbes.

2020

Arango Arias passed away on 4 April due to natural causes.

Jeronimo Arango & family : FAQs

What is Jeronimo Arango's net worth?

As of 2020, Jeronimo Arango's net worth was $4.30 billion.

What are Jeronimo Arango's main sources of wealth?

Jeronimo Arango's main source of income comes from Retail.

In which industry does Jeronimo Arango primarily operate?

Jeronimo Arango is primarily involved in the Fashion & Retail industry.

Is Jeronimo Arango dead?

Yes, Jeronimo Arango died on April 04, 2020 (aged 93).

Who was Jerónimo Julio Arango Arias and what was his contribution to the retail industry in Mexico?

Jerónimo Julio Arango Arias was a Mexican billionaire businessman who co-founded the Aurrerá supermarket chain, significantly contributing to the retail industry in Mexico by establishing a vast network of stores that include Aurrerá and Superama supermarkets, VIPs and El Portón restaurants, and Suburbia fashion stores under Grupo CIFRA.

What major business move did Jerónimo Julio Arango Arias make in the 1990s with Wal-Mart?

In the 1990s, Jerónimo Julio Arango Arias made a major business move by partnering with Wal-Mart in 1991, which led to Wal-Mart's expansion in Mexico. He later sold the majority shareholding of CIFRA, which included his retail and restaurant chains, to Wal-Mart in 1997 for over $2 billion.

What were some key lifestyle details of Jerónimo Julio Arango Arias, including his residences and the date of his passing?

Jerónimo Julio Arango Arias resided in Los Angeles, California, and had a vacation home in Acapulco designed by John Lautner, known as Marbrisa House. He passed away on 4 April 2020 due to natural causes.

What significant event marked the beginning of Jerónimo Julio Arango Arias's business career, leading to the founding of Aurrerá?

The beginning of Jerónimo Julio Arango Arias's business career was marked by his founding of the Aurrerá discount stores in 1958 after being inspired by discount shopping during a visit to New York. This event led to the establishment of what would become the largest supermarket chain in Mexico.