Ricardo Salinas Pliego runs the number two Mexican TV broadcaster, TV Azteca, and retailer Grupo Elektra. His Grupo Elektra targets lower middle class consumers who borrow money from his banking arm, Banco Azteca, to buy items at Elektra stores. Elektra, which is publicly traded, was founded in the 1950s by Ricardo's grandfather, Hugo Salinas Rocha. Salinas appointed a new CEO to TV Azteca in January 2021, replacing his son, Benjamin Salinas Sada, who he'd appointed in 2015.