According to a report by Bloomberg, Mexican billionaire Ricardo Salinas plans to take his company Grupo Elektra SAB private as early as May, in order to escape the constraints of the public market and operate his business independently. Salinas is currently involved in a legal dispute with the Mexican government over a 6.3 billion peso (approximately $3 billion) tax issue, while also attempting to recover funds lost due to a loan fraud.
In November 2023, Elektra applied for a trading suspension to prevent the sale of shares pledged as collateral for a loan, which subsequently led to a 70% drop in the stock price and a reduction of approximately $5 billion in Salinas' net worth. Salinas stated that after going private, Elektra will restructure its various business units and may seek partners, rather than relying on debt or equity financing. He also revealed that 70% of his investment portfolio is composed of Bitcoin-related assets, with the remaining 30% in gold and gold mining company stocks.
