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Grizzly Bulls’ Billionaires Index

⬅ # 57 Vagit Alekperov|# 59 Shiv Nadar ➡

# 58 Iris Fontbona 

$29.0B

Real Time Net Worth
as of 5/13/2024
-$130.9M (-0.45%)

# 58 Iris Fontbona 

$29.0B

Real Time Net Worth
as of 5/13/2024
-$130.9M (-0.45%)
Source of WealthMining
Age81
ResidenceSantiago, Chile
Marital StatusWidowed
Children3
Age-Adjusted Net Worth$6.99B
Iris Fontbona
Iris Fontbona
Chile
Net worth: $29.0B

Self-Made Score 

Wealth History

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Biography

Career

Iris Balbina Fontbona González, born in 1942/1943, is a Chilean mining magnate, media proprietor, and billionaire businesswoman.
She became the widow of Andrónico Luksic Abaroa, a successful entrepreneur in mining and beverages, who passed away in 2005 from cancer.
Fontbona and Andrónico Luksic had three sons: Jean-Paul, Andrónico, and Guillermo Luksic, the latter sadly succumbing to lung cancer in 2013 at age 57.
Upon Andrónico Luksic's death, Fontbona inherited his businesses, and together with their three sons, they control Antofagasta Plc, a Santiago-based mining company with copper mines in Chile, listed on the London Stock Exchange.
Jean-Paul Luksic serves as the chairman of Antofagasta, while Andrónico Luksic heads Quiñenco, a publicly-traded Chilean conglomerate involved in banking, beer, and manufacturing.
Through Quiñenco, Fontbona and her family manage Banco de Chile, Madeco, CCU (Chile's largest brewer), and CSAV, the world's 16th largest shipping company.
Following Andrónico Luksic's death, Fontbona played a key role in expanding the family business, turning it into the second-largest bank in Chile, the world's largest brewer, and a major player in copper mining and shipping.
She acquired a 70% stake in Chilean television station, Canal 13, and diversified into luxury hotel chains and a resort in Croatia.
Fontbona's influence is notable, with major business decisions requiring her approval, particularly those managed by her son, Andrónico Luksic Craig.

Personal Life

Born in 1942, Fontbona met Andrónico Luksic Abaroa at 17, marrying him by the age of 20.
She became the stepmother of Andrónico Luksic Craig and Guillermo Luksic, who tragically passed away from lung cancer in 2013.
Fontbona, a devout Roman Catholic, maintains a low profile, residing in Vitacura, Santiago, Belgravia in London, and Liechtenstein.
She is known for her annual media attention during the Chilean Telethon but generally avoids interviews.

How long would it take you to become as rich as Iris Fontbona?

If you started with $10,000 and invested an additional $500 each month at a 44.01% CAGR, it would take you 5 years to reach Iris Fontbona's net worth of $29.0B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 40.45% compared to 10.08% for the S&P 500 benchmark.

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Iris Fontbona is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Iris Fontbona, Mining is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey