The billionaire mining mogul died on February 2 in Mexico City.
The younger Bailleres went on to chair Industrias Penoles, one of the world's largest silver miners. He also controlled department store chain Palacio de Hierro, insurance company Grupo Nacional Provincial and pension fund manager Grupo Profuturo.
When he wasn’t working, Bailleres bred horses and cattle. He also gave his time and money to the arts and educational causes, serving as chairman of both the Mexican Cultural Association and his alma mater, Instituto Tecnológico Autónomo de México . During his more than 35 years leading the school, it became one of the most prestigious universities in Latin America.
In 2015, the Mexican senate awarded Bailleres the Belisario Domínguez Medal, the highest distinction bestowed to a citizen. Asked by Forbes Mexico in 2013 how he dealt with difficult times, Bailleres responded that “there are no tranquil times, only changes in the intensity of the difficulties we face; therefore, we must accept and attend to them with serenity.”
Bailleres is survived by his wife and seven children, including son Alejandro, who recently took over as president of the main companies controlled by his father. He leaves them a fortune estimated by Forbes to be $8.6 billion.
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