Ricardo Salinas Pliego Reveals $400 Million Loss in Elektra Shares Due to Fraud

Mexican business magnate Ricardo Salinas Pliego has disclosed a substantial financial setback, revealing he lost $400 million in Elektra shares. The revelation came during a recent podcast appearance, where Salinas Pliego stated the loss was incurred due to a 'fraudulent individual.' During the discussion, Salinas Pliego clarified that these shares were part of his personal investment portfolio, not inherited assets. He explained, 'I bought them from my uncles when my grandfather died. They wanted to exit the business, so I bought them, paying them later.' He emphasized that such financial fluctuations are an inherent part of doing business, likening it to a game. 'Making business is like a game. You sit at the table, and you're playing, and sometimes you lose, and sometimes you win,' he stated. He added that the $400 million loss was a 'terrible setback' from this fraudulent incident. The specific details of the alleged fraud and the identity of the individual were not fully elaborated upon in the clip.