Hugo Salinas Price (born March 11, 1932) is a Mexican business magnate, investor, and philanthropist.

[1] Salinas was born on March 11, 1932[2] in Bryn Athyn, Pennsylvania, his mother's home town.

[3] His uncle Benjamin Salinas Westrup, along with his step-brother Joel Rocha, founded the furniture company Salinas y Rocha, which grew rapidly thanks to the possibility to pay with credit.

Hugo Salinas Price became director of the company in 1952, and opened its first store Elektra in 1959.

Elektra then set up a direct sales operation offering appliances on installments.