Discount Magazine People

Jerónimo Arango is a Mexican businessman, co-founder of the Aurrerá chain of supermarkets along with his 2 younger brothers, Manuel and Placido, known for a long time as three of Mexico's wealthiest men. His fortune was estimated at 4.6 billion United States dollars in 2006 by Forbes magazine . In the 2007 Billionaires issue Forbes new estimate is 4.3 Billion.

Born in 1927. Arango founded his Aurrerá discount stores in 1958 after a trip to New York where he witnessed people standing in long lines to obtain discounts at stores; he decided to open one that sold at discount, emphasizing cost over other niceties. The stores flourished and eventually his family's company, Grupo CIFRA, encompassed the largest supermarket chain in Mexico (including Aurrerá and Superama stores) as well as restaurants (VIPs and El Portón) and fashion stores (Suburbia).

By 1991 Arango partnered with Sam Walton's Wal-Mart empire, a move which eventually brought the Wal-Mart retail stores to Mexico. The Mexican chain was later renamed Walmex and became the starting point for Wal-Mart's expansion in Mexico. By 1997 the Arango family decided to sell majority shareholding of CIFRA to Wal-Mart in a transaction worth over 2 billion dollars.

Manuel, Jerónimo's brother is the president of the Mexican Center for Philanthropy as well for more than 10 different non-profit organizations. He won two Academy Awards in the 1970s for the production of a well-known documentary about pre-Hispanic life. His wife, MarieTherese is the president of the Mexican Folk Art Museum.

See also

  • List of Mexican billionaires
  • Latin America's most important businessmen

Footnotes

    Magazines.com Magazine Subscriptions

    #3 People #4 Entertainment Weekly #5 Cooking Light #6 Food Network Magazine #7 Cosmopolitan ... Magazines.com is the leading independent publishing agent of discount magazine subscriptions ...

    ...

    People | People Magazine

    People magazine is a great source for the latest celebrity gossip, news and trends in its weekly coverage of Hollywood's famous and infamous stars. People magazine also covers pop ...

    ...

    MagMyPic.com - Browse the magazines you can choose from

    Perfect for posting on MySpace, Facebook, Friendster, Hi5 and other social networks & blogs

    ...

    Discount Magazine Subscriptions Online: Maxim, People ...

    More than 1500 popular magazines, like Maxim, People, Time, Cosmopolitan, FHM, Stuff, and GQ Magazine, at guaranteed LOWEST prices! NO credit card required, subscribe or renew now ...

    ...

    People Magazine Subscription | People Magazine

    Get People Magazine at Magazine Discount Center for only 117.00. 53 issues per year Order or renew a subscription, or give a gift. People magazine is noted as one of the ...

    ...

    People Magazine subscription - Discount prices ...

    People magazine is a weekly published magazine with cover price of $3.49. We offer you to take out a People magazine subscription for the amazing price of $2.19 per issue and save ...

    ...

    Magazine Price Comparison - Compare Magazine ...

    Top Selling Discount Magazines & Publications; People Magazine Subscription 2 Reviews from $56.94 Compare Prices. Muscle Fitness Magazine Subscription

    ...

    Magazines – Order Time, People and Other Popular ...

    Magazines make great gifts. Find popular titles such as Time Magazine, People Magazine, Parents Magazine, PC Magazine ... Order Magazines and Gift Discount Magazine Subscriptions at ...

    ...

    magazine subscriptions 5.95 by Discount magazine

    Discount Magazines is your one stop magazine subscription source - featuring hundreds of ... People always wants to stay on top of trends. Whether the trend is latest in ...

    ...

    Discount Magazine Subscription | Cheap Magazines ...

    Save up to 93% off of the cover price on Discount Magazine subscriptions and cheap magazines subscriptions 1800 Titles with FREE Shipping and NO Sales Tax!

    ...