How Mexico’s Ricardo Salinas Lost Half of His Wealth This Year

Mexico’s Ricardo Salinas, whose deals propelled him to a net worth of $10.2 billion at the close of last year, is now watching his finances go into free fall. And that was before Monday’s global market turmoil.

Prior to the selloff, Salinas’ two biggest holdings -- broadcaster TV Azteca SAB, and retail and banking conglomerate Grupo Elektra SAB -- had lost a combined $5.9 billion since the start of the year. And to date, he’s seen his fortune plummet 49 percent to $5.2 billion. He now ranks as the world’s 260th richest person on Bloomberg’s Billionaire Index -- down from 113th at the end of 2014.