What are Emilio Azcárraga Jean's other businesses besides Televisa?

11/06/2021

Emilio Azcárraga Jean is one of the richest businessmen in Mexico and occupies the thirty-second position in the Mexican Millionaires ranking, published and updated annually by Forbes, the magazine specialized in business and finance. The fortune of the magnate and owner of Grupo Televisa, one of the most important media companies in Mexico and Latin America, amounts to 770 million dollars.

Although much of Azcárraga Jean's wealth goes back to the time of his grandfather Emilio Azcárraga Vidaurreta, founder of the first radio station with national coverage in Mexico, which later became a telesystem and was under the charge of "El Tigre"; the 53-year-old businessman has participated in other businesses that go beyond presiding over the television station.

One of them is perhaps the Club Deportivo América (" America "), owned by Azcárraga Jean for the last 10 years. This soccer team is one of the most recognized nationally and, in it, the businessman serves as Chairman of the Board of Directors after a restructuring of the team in 2011 in order to determine the strategies to be applied in the management of the institution.

The team also belonged to his father, Emilio Azcárraga Milmo, since on June 22, 1959, the businessman bought the team from Isaac Bessudo, owner of the Mexican soft drink company Jarritos, with the purpose of turning it into a "well-managed and profitable" business, according to information published by the newspaper Esto.

From that moment on, the history of the Águilas changed with the main objective of turning the club, a team from the capital, into a protagonist of the company, and for that purpose he signed the two most important figures in Mexican soccer at that time: Guillermo Cañedo de la Bárcena.

Furthermore, on March 24, 2000, the current owner of Televisa was appointed president of the Ibero-American Television Organization (OTI) and is also a member of the board of Univision, a terrestrial television network from the United States that broadcasts Spanish-language content.

Besides his businesses related to the transmission of content through broadcast television and the management of one of the most influential sports clubs in the country, Azcárraga owns the telecommunications brand Izzi, which was formerly known as Cablevisión and changed its corporate name in 2014. The move made by the businessman consisted of buying all the shares of the company.

In 2006, Azcárraga Jean debuted in the lottery and sweepstakes business through PlayCity Casinos, which until 2020 registered a total of 21 establishments. He also created the so-called "Sorteos del Trébol" ("Trebol Sweepstakes"), whose dynamics are based on a "scratch-off" mechanism. Likewise, in that same year, the entrepreneur bought 25% of the airline Volaris, which he sold in 2010 for 80.6 million dollars, according to information from Proceso, a Mexican weekly investigative journalism magazine.

Although Azcárraga Jean has been ranked for several years as one of the most important entrepreneurs in Mexico, data reported by Forbes stated that his fortune has been considerably reduced in the last year, which places him in the bottom rungs of the ranking of Mexican Millionaires. However, the businessman came to appear in the top 10 of the richest businessmen in the country until 2017, when he ranked tenth thanks to a net worth valued at 2.1 billion dollars.

Source: Infobae