Grande Businesses: Highest Earning Hispanic Companies
Latino buying power has become the thing to talk about, as it has increased six fold since the 1990s: the $212 billion collective purchasing ability has matured to an estimated $1.2 trillion in 2013 as the Hispanic population increased 43 percent within the last 13 years, rising from 35.3 million to 52 million+. However, Latino companies (big business and startups) are still few and far between.
Despite the magnitude of Latinos' contribution to the American economy, and the number of Latinos functioning at every level of the workforce, Hispanic-owned and Hispanic-run business often don't make impressions on the American public and mainstream corporations. But there are a few large Latino companies that have been able to access extensive returns, becoming true competitors in their respective industries. The top revenue-earning Latino companies were recently established by HispanicBusiness.com, showing that Latinos head in a varied range of industries, offering a number of services.
Related Group ($1.02 billion) is a real estate companies created by Argentine native Jorge M. Pérez, a Miami-based real estate mogul. Peréz founded his highly lucrative company in 1979, building more than 80,000 condominiums and apartment units in the South Florida region. The company, which has won 18 best Award from Builders Association of South Florida (BASF), was also hit hard by the collapse of the Florida real estate market in 2011. Debt restructuring with lenders and Latin American investors helped to recover the booming business.
Greenway Ford ($1.2 billion) is an automotive group that is comprised of 26 Orlando-based car dealerships. Frank Rodriguez started the new and pre-owned franchise retailer Greenway Ford in 2000. The company now employs 200 team members, each with extensive knowledge of every aspect of the retail automotive industry, from collision services to finances. Rodriguez's automotive empire performs at #13 on the list of 2013 Automotive News ranking.
Molina Healthcare ($3.0 billion) is a company dedicated to providing quality healthcare to low-income families under coverage provided by the government, dating back to 1980. Dr. C. David Molina, M.D. launched Molina Healthcare in Long Beach, Calif., though it has spread, reaching 5 million families in 15 states. Emergency room services, medical clinics, Medicaid and State Children's Insurance programs are made available through the facilities. Molina now stands at #423 on the Fortune 500 list.
MacTec ($4.25 billion) is a multinational infrastructure engineering company based in Coral Gables, Fla., and it was fostered by Cuban immigrant Jorge Mas Canosa in 1971. Mas transformed Church & Tower, merging it with Burnup & Sims, and growing it until the conglomerate became MasTec Inc. The network and the services have expanded, and the company now provides renewable energy, gas and oil, electric power, water and sewer, and installation-fulfillment services.
Brightstar Corp. ($6.3 billion) is the world's largest specialized wireless distributor and leading global service company, founded in 1997 by the Bolivian entrepreneur and CEO Marcelo Claure. Brightstar reaches 50 countries on five continents, and services customers through manufacturing, insurance and protection. The Miami-based operation, which targets Latin America, made it to #58 on the Forbes 2012 List of America's Largest Private Companies.
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