Billionaire Salinas Reaches Tax Deal With Mexican Government (1)

Mexican billionaire Ricardo Salinas Pliego’s companies on Thursday promised to pay 32 billion pesos ($1.87 billion) to the government, capping a decade-long dispute over tax claims.

In a separate statement, Mexico’s tax authority said a business group agreed to pay an upfront payment of 10.4 billion pesos and will pay the rest in 18 installments.

Ricardo Salinas, founder and chairman of Grupo Salinas SA de CV, during an interview at the company headquarters in Mexico City, Mexico, on Friday, Feb. 26, 2025.

Photographer: Luis Antonio Rojas/Bloomberg

The move lifts a weight that had been hanging over Salinas, whose net worth took a big hit after the stock of his flagship appliance dealer and bank Grupo Elektra collapsed in 2024 after a trading suspension. He has been planning to soon ...