Alberto Baillères Died: What Was His Cause Of Death?

Alberto Baillères, one of the most influential businessmen and economists in Mexico, died on Wednesday, confirmed sources close to Grupo Formula on Thursday.

“With a deeply intense pain that I did not know, I share with you that Mr. Alberto Baillères, our Chairman and Counselor of Grupo Bal and my adored and admired father, passed away yesterday, February 2, in Mexico City,” his son reported. Alejandro Baillères through a statement.

Baillères was president of Grupo Bal, a conglomerate that includes businesses in the trade, mining, metallurgy, insurance, and finance sectors, among others.

Among the best-known companies of which he was the main shareholder is El Palacio de Hierro, the insurance company Grupo Nacional Provincial (GNP), and Grupo Peñoles. The businessman also owned the Proaño Mine, which is one of the largest silver producers in the world.

“The Mexican King Midas”, as the businessman was known, had just retired last April 2021 at 89 years of age.

Alberto Baillères was the fourth richest person in Mexico with a fortune of 8.48 billion dollars, according to the Bloomberg millionaires ranking. All his money is equivalent to 4.66 million ounces of gold, 93.2 million barrels of oil, 1.03 billion minimum wages in Mexico, and 3.7 times the UNAM budget for 2022.

The cause of death of Alberto Baillères has not come out yet, but considering his age, it is suspected to be old age-related causes.

Who was Alberto Baillères?

The famous Mexican businessman graduated from high school at the Culver Military Academy in Indiana in 1950 and obtained a Bachelor’s degree in Economics, Magna Cum Laude, in 1957 from the Autonomous Technological Institute of Mexico (ITAM), a university from which he would spend time later as president of the Governing Board.

In 1963 he was appointed CEO of El Palacio de Hierro, where he implemented a major restructuring of the company, and later, in 1967, he was appointed Executive Chairman and Chairman of the Board of Directors of all Grupo Bal companies.

In 2015, the Senate of the Republic awarded Alberto Baillères the highest distinction granted by the Mexican State to a citizen: the Belisario Domínguez Medal.

Amelia Warner writes all the Latest Articles. She mostly covers Entertainment topics, but at times loves to write about movie reviews as well.

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