Age, Biography and Wiki

David Martínez (businessman) was born on 1957 in Monterrey, Nuevo León, Mexico, is a businessman. Discover David Martínez (businessman)'s Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 66 years old?

Popular As N/A
Occupation businessman
Age 66 years old
Zodiac Sign
Born 1957
Birthday 1957
Birthplace Monterrey, Nuevo León, Mexico
Nationality Mexico

We recommend you to check the complete list of Famous People born on 1957. He is a member of famous businessman with the age 66 years old group.

David Martínez (businessman) Height, Weight & Measurements

At 66 years old, David Martínez (businessman) height not available right now. We will update David Martínez (businessman)'s Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
Parents Not Available
Wife Not Available
Sibling Not Available
Children Not Available

David Martínez (businessman) Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is David Martínez (businessman) worth at the age of 66 years old? David Martínez (businessman)’s income source is mostly from being a successful businessman. He is from Mexico. We have estimated David Martínez (businessman)'s net worth , money, salary, income, and assets.

Net Worth in 2023 $1 Million - $5 Million
Salary in 2023 Under Review
Net Worth in 2022 Pending
Salary in 2022 Under Review
House Not Available
Cars Not Available
Source of Income businessman

David Martínez (businessman) Social Network

Instagram
Linkedin
Twitter
Facebook
Wikipedia
Imdb

Timeline

2014

In September 2013 it was reported that he had "bought 5 percent of Banco Sabadell"." He was appointed member of the Board of Directors on 27 March 2014 (re-elected on 19 April 2018).

In March 2014 Martínez called together several representatives of funds with holdings in Argentine bonds, with the intention of beginning to negotiate a joint exit for the bondholders. José Luis Manzano, a media entrepreneur and former member of the Menem government, was also involved in the negotiations, and both he and Martínez "assured their partners that they had the approval of the Government" to negotiate a deal. Reportedly, Martínez had asked JP Morgan to come up with an attractive offer for the bonds.

2013

Described as "the most influential Mexican on Wall Street," Martínez played a major role in the restructuring of Argentina's sovereign debt and described himself in 2013 as having participated in nearly every restructuring of sovereign debt during the previous 25 years. His investments have been characterized as extending "from New York to Patagonia." He is a major holder of assets in Argentina, with Fintech Media LLC, a subsidiary of Fintech Advisory, owning "more than a billion dollars in financial assets" in Argentina alone.

The Financial Times published an article by Martínez on March 7, 2013, in which he argued that Judge Griesa's "interference" might "make future sovereign restructurings impossible, setting a dangerous precedent for the world's financial system." Succumbing to "the demands of holdout creditors," wrote Martínez, Griesa had ordered the Argentinian government to pay them $1.3 billion. Noting that the "all sovereign restructurings" had been successful "partly because nations have most of their assets protected by law," Martínez characterized "holdout creditors" as "free riders" whom most nations pay off to avoid harassment; however, "Argentina's leadership, which knows how to fight, opted to defend itself against the world's most litigious funds, which now want to collect in full. These funds are seeking to reap the benefits of Buenos Aires' improved payment capacity – a result of the losses accepted by the vast majority during the restructuring." Martínez called it a "scandal" that Griesa was forcing this majority "to share the interest payments they accepted on their restructured bonds with the minority that litigated," an arrangement which would doubly punish "those who contributed in favour of those who did not." Martínez concluded: "Not only is Mr Griesa's decision unfair – it will also lead to society paying a price in the form of more protracted debt restructurings with less certain outcomes."

Bloomberg News reported on November 14, 2013, that Fintech Group had agreed to pay $860 million for Telecom Italia SpA's 68 percent holding in Sofora Telecomunicaciones, the controlling holding company of Telecom Argentina through Nortel Inversora, plus a direct minority stake, plus $100 million for related assets, for a total of $960 million. This deal pitted him "against the mobile-phone business of Carlos Slim in South America's second-biggest economy" and "expand[ed] Martínez's bets beyond holdings such as cable assets and Argentina's sovereign debt as he seeks to benefit from increasing Web and video use on mobile devices."

A The Wall Street Journal article, published on November 10, 2013, described Martínez's decision to invest in Argentina "an unusual call," given that "Argentina has been a cautionary tale for many investors since its 2001 default on $100 billion in sovereign debt" and that its last two presidents, Néstor Kirchner and Cristina Kirchner, had "repeatedly gone mano a mano with big business," nationalizing an oil company and seeking to force the Clarin media group to break up its business. The Journal described Martínez as "part of a small group of investors who are willing to overlook Argentina's status as a financial pariah and bet long term," in the expectation that "the next government to be more pragmatic and less hostile to business."

2012

The New York Times reported on October 11, 2012, on Martínez's involvement in the bankruptcy of Vitro, a 103-year-old Mexican glassmaking firm run by the Sada family, an event that was surrounded by "Allegations…of covert meetings, fraudulent debts and crooked courts" and that ended up with "the company in the hands of its shareholders, while costing bondholders as much as 60 percent of their investment."

In response, American investor Paul Singer's firm, Elliott Associates, and other hedge funds, which together owned about $700 million of Vitro's old debt, claimed that Martínez had helped Vitro "muscle investors out of hundreds of millions of dollars through financial sleight of hand," and accused Vitro of "audacity, brazen manipulation and greed." Singer and the hedge funds sued Vitro and Fintech in the U.S., where a Dallas court ruled in their favor in summer 2012. An appellate court trial began in October.

Martínez was included in the 2012 ARTnews list of the world's 200 Top Collectors. In 2014, he sold Francis Bacon's Portrait of George Dyer Talking (1966), for $70 million to an American collector at Christie's London.

2009

The Times traced the story to 2009, when Martínez loaned Vitro $75 million in exchange for the title to several of its properties and an option to return them to Vitro later in exchange for a 24 percent stake in the firm. In 2010, Martínez "went to the different banks that Vitro owed money to and bought the claims," thus becoming the firm's "biggest individual outside creditor, owning about $600 million worth of claims." Vitro "began taking big loans from its subsidiaries, in effect creating a fresh class of creditors outside of the hedge funds — a group under its control, with the rights to approve any bankruptcy plan. Subsidiaries went from owing the parent company about $1.2 billion to being owed $1.5 billion." With Martínez's help, Vitro "outvoted many other bondholders to approve a reorganization plan" that paid creditors about 40 to 60 percent of what they were owed and kept the Sada family in control.

2007

Martínez bought Cablevisión "without any concern for antitrust legislation," and did so at a time when Nestor Kirchner "decided to put his electoral campaign in the hands of Grupo Clarin" and allowed the purchase by Martínez of 50% of Cablevisión. In 2005, Kirchner signed a decree extending broadcast licenses by 10 years; on December 7, 2007, three days before leaving office, he signed a decree permitting the merger of Clarin and Martínez's Cablevisión. After Martínez's purchase of Telecom Argentina, it was noted that his ownership of major stakes in both this firm and Cablevisión is illegal under Argentinian law. "Martínez could be forced to sell Cablevisión," reported Corriere della Sera. "But Christina Kirchner will decide." As of 2014, he held 40 percent of Cablevisión.

2006

Specializing in modern and contemporary works, David Martínez has been reported as also owning pieces by Mark Rothko, Pablo Picasso and Damien Hirst. In 2006 he reportedly set a record for the highest price paid for a piece of art with the purchase of a Jackson Pollock painting from David Geffen. Pollock's painting "No. 5, 1948" sold for US$140 million (£73m), on 1 November 2006. However, the auction expert Josh Baer stated that Martinez was not the buyer of the painting. In addition, Shearman & Sterling issued a press release on behalf of its client, David Martinez, to announce that contrary to articles in the press, Martinez does not own the painting or any rights to acquire it. In October 2012, however, The New York Times reported that despite these and other denials, "several people with knowledge of" Martínez's collection have said that the Pollock work hangs in his New York apartment.

2004

The New York Times has noted that Martínez's hometown, Monterrey, "is home to some of Mexico's largest industrial companies," with power being "heavily concentrated among businessmen in the so-called Group of 10, a club that includes the Sada family." Although Martínez "was not a part of that circle, he has cultivated deep connections to it," helping the Sadas in 2004, for example, when one of their firms went bankrupt, and, later, becoming involved in the bankruptcy of the Sada-owned firm Vitro. According to one source, Martínez's "paternal great great grandmother was the sister of the paternal grandfather of Adrian Sada."

2003

It is known that Guillermo Nielsen, then Secretary of Finance under Nestor Kirchner, met Martínez in Dubai in September 2003 to discuss the restructuring of Argentina's debt, and that the two men met six to 10 more times in New York, London, and elsewhere to continue the conversation. Over time, the "relationship between Martínez and the Kirchner government became stronger." In 2006, Martínez met Kirchner himself at the Argentine Consulate in New York. Five days later, "Martínez purchased 40 % shares of Cablevisión , the cable television system of Grupo Clarin, the largest media company in Argentina. Martínez can be seen sitting in the front row of the audience in a video of the 2007 inauguration of Cristina Fernández de Kirchner.

It described Martínez's residence in the Time Warner Center (80 Columbus Circle) as "one of the most expensive apartments in Manhattan," purchased in 2003 for "about $42 million." His New York apartment "over 15,000SF combo apartment that spans on the 76th & 77th floors. Has a two-story living room and a reflecting pool," and a "special system has been rigged to support one exceptionally heavy piece of art."

2001

Martínez has been described as being "closely linked" to the late Argentinian president Nestor Kirchner and as having been a "friend" of Kirchner's. According to one source, "whenever the former president traveled to the United States, he made a place in his schedule" for a meeting with Martínez. Describing Martínez as "Kirchner's Mexican friend," Italy's leading newspaper, Corriere della Sera, has noted that the rise in Martínez's economic fortunes "coincided with the exceptional political cavalcade of the Kirchners after the collapse of the South American country in December 2001."

On March 11, the Financial Times ran a reply by Robert Shapiro of American Task Force Argentina, calling Martínez's article "a disservice to the FT's readers" and saying that Argentina's actions "pose the real threat to global finance." Shapiro explained that since Argentina's 2001 debt default, "the regimes of Néstor Kirchner and Christina Kirchner Fernandez have rejected every tenet of global finance. They refused to negotiate with bondholders, took four years to issue a 'take-it-or-leave-it' offer of 27 cents on the dollar or barely half the international norm, repudiated the debt of 25 per cent of bondholders who rejected that low-ball offer, and ignored more than 100 directives from US courts to honour their obligations." Rejecting Martínez's claim that Griesa had ordered "those who accepted the last restructuring…to 'share' what is owed to them," Shapiro stated that Griesa had "simply upheld Argentina's own original contract…and noted that under US law the Argentine government cannot choose to pay some creditors and not others." Shapiro commented that "The real victims of the Kirchners' long campaign to ignore their nation's obligations are the Argentine people," and quoted the recent statement by the Argentinian daily La Nación that "The main impediment for ending the conflict with the holdouts is that the government is prioritising the media battle with the creditors over channelling its energy towards seeking a technical solution."

1997

Martínez reportedly "travels to Monterrey every Christmas to be with his mother, Juliana Guzman Sepulveda, and his sister, Beatriz Martínez Guzmán." In 1997 he "bought a plot of 874 square meters in the municipality of San Pedro Garza Garcia," on which his mother now lives.

1994

Martínez has been heavily involved in the Argentinian economy for many years. In 1994, he "invested in the wrecked Argentinean economy by buying government bonds with a maturity of 37 years for $834 million." "Fintech was one of the major participants in the exchange of 2005," wrote William Dahill, a lawyer for Martínez. "He realized that the only way" that Argentina could recover from its economic crisis "would be through a reduction of its liabilities, which would allow the economy to grow and the country regain a minimum level of creditworthiness." Between 2004 and 2006, according to Daniel Marx, a former Finance Secretary of Argentina, Martínez paid $100 million on the secondary market for Argentine bonds with a nominal value of $700 million.

1987

When he turned 30 in 1987, Martínez started Fintech, reportedly with the help of a US$300,000 loan from his grandmother, which he was able to repay with interest within a year.

1985

After receiving his MBA, Martínez went to work for Citigroup, taking a position on the emerging-markets desk in New York. At Citigroup he began to work "with distressed debt in far-flung places." In 1985, he left Citigroup.

1961

Martínez was identified as the seller of a Mark Rothko's Untitled (1961) at Sotheby's in a 2010 lawsuit against him by Dallas art collector Marguerite Hoffman, who claimed breach of contract. Hoffman sold him the work privately in 2007 for a net $17.6 million, forgoing the $30 million to $40 million she said the painting could have fetched at public auction. She later said the deal's privacy agreement was broken when Studio Capital Inc., a Belize-registered company she claimed is controlled by Martínez "for the purpose of maintaining the secrecy of his purchases and sales of art," entered the Rothko in Sotheby's May 2010 auction in New York and marketing materials revealed her prior ownership. She claimed she could have sold the painting at auction herself and received far more, had she not wanted secrecy. The painting was auctioned for $31.4 million.

1957

David Martínez Guzmán (born in Monterrey, Nuevo León, Mexico 1957) is a Mexican investor who is the founder and managing partner of Fintech Advisory, a firm that specializes in corporate and sovereign debt. Fintech has offices in London and New York City, and he currently divides his time between those two cities.