Billionaire Lorenzo Zambrano: A Beneficiary of Salinas de Gortari's Administration

The Man Behind Cemex's Rise

Lorenzo Zambrano, the late CEO who transformed Cemex SA from a regional company into a global cement giant, has been identified as one of the many beneficiaries of the extensive privatization program implemented during the presidency of Carlos Salinas de Gortari in the 1990s. Through this program, private companies acquired large stakes in state-owned industries, leading to significant wealth creation for a select group of individuals.

Cemex's Acquisition of State-Owned Cement Companies

During Salinas de Gortari's presidency, Cemex acquired several state-owned cement companies at highly favorable prices. These acquisitions provided Cemex with a dominant position in the Mexican cement market and laid the foundation for its subsequent global expansion.

Zambrano's Role and Influence

As CEO of Cemex, Lorenzo Zambrano played a pivotal role in shaping the company's strategy and benefiting from the privatization process. His close ties to the Salinas de Gortari administration allowed him to secure favorable terms for Cemex's acquisitions and gain access toprivileged information.

Wider Implications

The privatization program under Salinas de Gortari had a profound impact on the Mexican economy. While it led to the modernization of many industries and increased foreign investment, it also created disparities in wealth and raised concerns about corruption. The case of Lorenzo Zambrano and Cemex highlights the complex dynamics of privatization and its potential consequences.