Jorge Vergara
CEO
Business Management
Grupo Omnilife
Mexico
Biography
Jorge Carlos Vergara Madrigal (born 3 March 1955) is a Mexican businessman and film producer. Vergara is a billionaire with a net worth of approximately $1.5 billion. He is the founder of Grupo Omnilife, one of the top 200 corporations in Mexico. In addition to its health products business, Grupo Omnilife owns the football clubs Club Deportivo Guadalajara and Chivas Hefei, including a fleet of private jets and real estate. Born in Guadalajara, Jalisco, Vergara once sold tacos on Mexican streets. Back in the 1980s Vergara sold condominiums and timeshares in Manzanillo, Mexico, where he met and began working with John Peterson. When Peterson became a Herbalife salesperson, he recruited Vergara and together they began selling Herbalife products in Mexico. Since Herbalife had not received Mexican government approval to sell their products, Peterson and Vergara had to smuggle the products into the country. After six months of smuggling the products into Mexico, Herbalife took notice and began the process of getting government approval. Vergara was asked to help get the Herbalife products approved by the Mexican government and was instrumental in helping Herbalife's founder, Mark Hughes deal with the Mexican Government. This gave Vergara insight into how a multi-level company profits and expands into other countries.[citation needed] Vergara was partners with Roger Daley, Jim Fobair and Charlie Ragus. With already the 51% of the company, Vergara acquired the rest of Omnitrition at the end of the deal with his U.S. partners and took the whole control of Omnitrition de Mexico.[citation needed] Since its foundation in 1991, the privately owned corporation has grown from one company, Omnilife de Mexico, to comprise nineteen companies. Today, approximately 5.2 million people distribute Omnilife products in 22 countries, while the company has reached annual sales of nearly $4.2 billion.[citation needed] Vergara has been the director of Omnilife de Mexico since 1991.
Research Interest
Business Management
