MIGUEL RINCON • Net Worth $3 billion • House • Yacht • Private Jet • Bio Pappel

Miguel Rinco?n Arredondo

Miguel Rincón Arredondo

Name:Miguel Rincon Arredondo
Net Worth:$600 million
Source of Wealth:Bio Pappel
Wife:Sandy Rincon
Residence:Mexico City
Private Jet:(XA-RIN) Gulfstream G550
Yacht:Lumiere II

Miguel Rincon: The Man Behind Mexico’s Largest Paper Company

Miguel Rincon is a highly influential figure in Mexico’s paper and packaging industry. As the founder of Bio Pappel, the most substantial integrated paper and packaging company in the country, his influence is significant. Born in 1949, Rincon is happily married to Sandy Rincon.

Key Takeaways:

  • Miguel Rincon, born in 1949, is the founder of Bio Pappel, the largest integrated paper and packaging company in Mexico.
  • Bio Pappel, founded in 1982, operates 31 industrial plants, employs nearly 8,000 people, and generates annual sales of $3 billion.
  • Despite being listed on the Mexican Stock Exchange, the Rincon family retains a controlling interest in Bio Pappel, owning 85% of the company’s shares.
  • The Rincon family’s combined net worth, primarily stemming from their stake in Bio Pappel, is estimated at around $3 billion.
  • He is the owner of the Sorrento Yacht.

Unfolding the Success Story: Bio Pappel

Established in 1982, Bio Pappel has grown exponentially over the decades to become a leader in the paper industry. The company operates 31 state-of-the-art industrial plants and provides employment to 7,938 dedicated professionals. With a staggering annual turnover of $3 billion, it has carved out a niche for itself as one of Mexico’s most prosperous private businesses and the unrivaled leader in the paper sector.
Bio Pappel’s shares are listed on the Mexican Stock Exchange, a testament to the company’s robust financial health and positive market sentiment. Despite this, the Rincon family maintains a strong hold on the business, owning 85% of the company’s shares. Several family members actively contribute to the company’s management and strategic decision-making processes.

Unveiling the Rincon Family’s Wealth: A Look at their Net Worth

With Bio Pappel’s market capitalization standing at an impressive $3.2 billion, it’s evident that the Rincon family holds substantial wealth. Given their 85% stake in the company, the family’s combined net worth is estimated at around $3 billion.

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Yacht Lumiere Owner

Miguel Rincón Arredondo

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Miguel Rincon House

Miguel Rincon Arredondo Yacht

He is the owner of the Benetti motor yacht Lumiere II. She was built as Mine Games for Chris Cline.

The Sorrento yacht was originally constructed in 2010 by the Benetti shipyard.

The interior, designed by Studio Massari, can accommodate 12 guests and a crew of 14.

With MTU engines, the yacht’s top speed is 16 knots, with a cruising speed of 15 knots and a range of 8,000 nautical miles.

Previous owner Chris Cline, the founder of the Cline Group and Foresight Energy, tragically died in a helicopter crash in 2019.

The yacht was purchased by Miguel Rincon and is currently valued at around $30 million, with annual running costs of about $3 million.