What is David Penaloza Sandoval's Net Worth?
David Penaloza Sandoval is a Mexican businessman who has a net worth of $2.4 billion. He joined the billionaire circles this year on the back of the rising price of his construction firm Pinfra. Precisely speaking, the shares of the company increased over 70% in the last year. Penaloza, who started the precursor to Pinfra (Grupo Tribasa) in 1969, is the current chairman of the company, while his son David Penaloza Alanis serves as CEO.
Today, Pinfra holds 16 toll-road concessions in some of the most densely populated areas of Mexico. Hard times came in 1994 when Tribasa was forced to declare bankruptcy as he couldn't pay back dollar-denominated debt from international lenders because of peso devaluation. However, he managed to renegotiate the debt and took on new partners to reshape Pinfra.
