Emilio Azcárraga Jean, the billionaire owner of Televisa who has already lost a fifth of his fortune in 2021

According to information from Forbes, Emilio Azcárraga Jean lost a fifth of his fortune in 2021. The wealth of the chairman of the board of directors of Televisa, a Mexican media company, stands at $ 770 million, a figure that places it 32nd on the 2021 Millionaires list, currently led by the telecommunications mogul, Carlos Slim Helú.

Compared to 2020, the businessman has lost seven positions in the ranking of Mexico’s greatest fortunes, as a year ago his net worth was valued at $ 990 million.. In this sense, the businessman was ousted by the family Jorba Servitje, which currently occupies 25th place in the ranking, due to the fact that in the last year the company Bimbo has achieved record figures in its sales.

The business and finance magazine said net sales of Televisa decreased by 4.3% in 2020, which corresponds to the figure of 97 thousand 361 million pesos, while in 2019 the company’s net profit was 101 thousand 757 million pesos.

The losses of businessman Emilio Azcárraga Jean began to register from the first quarter of 2020. According to the agency EFE, in this period Group Televisa he suffered a net loss of 8,900 million pesos. In view of this, the company explained that the decline in the values ​​of the company was caused by the impact on the depreciation of the Mexican peso and the adjustment of the book value after its participation in Univision, an American television network that broadcasts content in the Spanish language.

Especially the television channel founded by Emilio Azcárraga Milmo and TV Azteca, created in 1993 by businessman Ricardo Salinas Pliego, has been among the most affected by the economic crisis resulting from the health emergency caused by COVID-19, despite the fact that they received a capital injection of 450 million pesos from the federal government, because their channels were intended for the transmission of educational content as part of the distance learning model promoted by the Public Education Secretariat (SEP).

In an interview with the magazine Expansion, Carlos Alberto González, director of analysis and stock market strategy of Monex Grupo Financiero, argued that the cancellation of sporting and entertainment events was one of the causes of the company’s revenue declineTherefore, the agreement reached with government authorities to broadcast courses on open television was “good news”.

Since 2018, Azcárraga Jean stopped appearing in the top 10 richest people in Mexico, but he continued to be considered by Forbes as one of the richest men in the country. For that same year, also owner of Club de Fútbol América, recorded a fortune of 1.7 billion dollars and occupied the thirteenth position on the list, but his fortune fell year after year and currently occupies the last places of the list, remaining only above the Fernández family, dedicated to the beverage business, and the Hernández-Pons family, majority owners of Grupo Herdez.

Recently, Televisa announced that it will establish a strategic alliance with Univision to merge its media, content and production assets to create the largest Spanish-language media company in the world. The deal, published in a statement, establishes that the US television station will pay Televisa $ 4.8 billion for the operation, providing for disbursement in cash, stocks and other business considerations.

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