Economy June 29, 2020 | 4:05 pm

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Who are the Richest Entrepreneurs in Central America and the Dominican Republic?

The role of millionaires will be crucial to reverse poverty

Santo Domingo, DR

 

In its June issue of 2020, Forbes magazine publishes a list of the richest entrepreneurs in Central America and the Dominican Republic (CARD). The select group is made up of 25 men and eight of them are Dominicans.

Both the article, prepared by Manuel Ramírez, and the editorial of the magazine speak of the need to better redistribute wealth, especially to face the great economic crisis that the Covid-19 pandemic has caused in the region.

“The role of millionaires will be crucial to reverse poverty,” say the authors.

The editor, Hugo Salvatierra, states in the editorial that there will need to be a fairer economic balance between company profits and employee wages so that they achieve a better quality of life and have more tools to survive in the midst of an emergency like the one we are experiencing.

“To this, we will have to add better insurance for major medical expenses and life, as well as more possibilities to scale within organizations, remote work that allows less movement to the factory or office, more spacious and healthier work centers, or the implementation of business mobility systems to prevent employees from taking the subway or some other form of mass transportation as far as possible,” he proposes.

Salvatierra exposes that a fundamental point will be the responsibility of the entrepreneurs in front of the tax systems because when a company pays all the taxes the Government in turn has the possibility of doing more for society: roads, hospitals, schools, cultural spaces, and other infrastructure.

“Absolutely we are all going towards new normality, which is making us see abruptly and emphatically that wealth, jobs, education, health, and opportunities must be distributed in a balanced way among the population so that we have citizens and businessmen aware of the existence of others …,” the author reasons.

In conclusion, he points out that governments, people, and cities that are resilient and capable of making accurate decisions and in favor of the majority in a situation like this are needed in the region. To achieve this, he believes, it will be vital that great riches do their part because, in the end, the rich also suffer the ravages of an imbalanced world.

Here is the list of the richest in the region:

  1. 1) STANLEY MOTTA: Panama. His total assets are estimated at US $ 4,347 million. He is a shareholder in the companies Motta Internacional, Copa Holdings, Grupo Assa, Inversiones Bahía, TVM Media, and Banco Intercontinental de Panamá.
  2. 2) ROBERTO KRIETE: El Salvador. Shareholder in Grupo Kriete, Avianca Holdings (Chairman of the Board of Directors and owns 22% of the shares), Volaris (majority shareholder) and Aeroman (Chairman of the Board of Directors). Its total income is estimated at US $ 7,273 million.
  3. 3) CARLOS PELLAS. Nicaragua. It owns shares in Grupo Pellas (Flor de Caña, Corporación del Sur, Costa Esmeralda Airport, Corporación GBM, Hospital Metropolitano Vivian Pellas, Grupo Avanz, Pellas Development Group and Ingenio San Antonio). Total assets: US $ 237 million.
  4. 4) MARIO LÓPEZ ESTRADA. Guatemala. Shareholder in Tigo Guatemala and Honduras. Total income US $ 2,028 million.
  5. 5) RICARDO POMA AND FAMILY. The Savior. Shareholder in Grupo Poma (Excel Automotriz, Grupo Roble, Real Hotel & Resorts, Grupo Solaire and Autofácil).
  6. 6) FRANK RAINIERI MARRANZINI. Dominican Republic . Shareholder in Grupo Puntacana (Punta Cana International Airport, Puntacana Resort and Club, Puntacana International School, Puntacana Village, Punta Cana Laundry Services, Guardianes del Este, Servicios Puntacana). Estimated assets US $ 1,200 million.
  7. 7) SANDRO SALSANO. Panama. Shareholder in Grupo Salsano. Total assets: US $ 1,200 million.
  8. 8) CARLOS ENRIQUE MATA AND LUIS MIGUEL CASTILLO. Guatemala. He owns shares in The Central America Bottling Corporation (CBC). Estimated income: US $ 1,704 million.
  9. 9) MIGUEL BARLETTA. Dominican Republic. Ambar Group. Total revenue: $ 750 million.
  10. 10) FELIPE VICINI LLUBERES AND FAMILY. Dominican Republic. Accionista at INICIA, Lantica Media, Putney Capital Management, Gerdau Metaldom, Gerdau Diaco, EGE Haina. Total assets US $ 931.3 million.
  11. 11) ROBERTO MURRAY AND FAMILY. The Savior. Agrisal Group (Agrisal Inmobiliario, Agrisal Hoteles and Agrisal Automotores).
  12. 12) JOSÉ LUIS CORRIPIO ESTRADA. Dominican Republic. Corripio Group.
  13. 13) RAMIRO ORTIZ MAYORGA. Nicaragua. Grupo Promerica (Banco Promerica, Provalores, Almexsa). Total assets: US $ 1,931 million.
  14. 14) MOSES COHEN. Panama. Holds shares in Capital Assets, Capital Bank. Total assets: US $ 1,567 million.
  15. 15) ALFREDO ALEMÁN. Panama. Los Pueblos Group, Metro Libre newspaper.
  16. 16) LUIS VON AHN. Guatemala. Accionista at Duolingo. Total income US $ 90 million.
  17. 17) CARLOS CERDAS ARAYA. Costa Rica. Constructora Meco. Total income US $ 720 million.
  18. 18) JOSÉ ANTONIO BALTODANO. Nicaragua . It owns shares in Grupo Mercon (Mercon, Mercapital, The Coffe Cherry, Cisa Exportadora, Transplanta). Its income is estimated at US $ 668.8 million.
  19. 19) MANUEL ESTRELLA. Dominican Republic. Shareholder in Grupo Estrella (Star Engineering, Star Steels, Star Laminates, Real Estate Projects); The group also includes the Dominican Mining Consortium, which brings together Cementos Panam and Concretos Panam. Its total income is $ 142 million.
  20. 20) CARLOS JOSÉ MARTÍ. Dominican Republic. Shareholder in Grupo Martí (Tropigas, Sunix, Metrogas, Tropinsa and Enso), newspaper El Dinero, Coastal Petroleum Dominicana, AFP Crecer and Seguros Crecer, representative of Volvo. Income US $ 500 million.
  21. 21) ROLANDO GONZÁLEZ BUNSTER. Dominican Republic. Shareholder in InterEnergy and Consorcio Energético Punta Cana-Macao. Total assets US $ 407 million.
  22. 22) ARTURO DONALDO MELO SARASQUETA. Panama. Shareholder in Grupo Melo (Melo, Comasa, Copama, Pío, Distribuidora Melo, Multiláminas, Panizzi, Altos de Cerro Azul). Total revenue: US $ 434.8 million.
  23. 23) JULIO HERRERA. Guatemala. Shareholder in Grupo Pantaleón (Pantaleón and Spectrum). Estimated income: US $ 386 million.
  24. 24) HÉCTOR JOSÉ RIZEK LLABALY AND FAMILY. Dominican Republic. Shareholder in Rizek Cacao, Parval brokerage, Comercializadora Rizek, SAS, investments in the Giants of Cibao baseball team, and the Indian basketball team of San Francisco. Total assets: US $ 217 million. Total equity: US $ 37.8 million.
  25. 25) RICHARD TOLEDANO AND FAMILY. Panama. Shareholders in Productos Toledano. Total assets US $ 170.8 million.

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