Alex Meruelo net worth
Alex Meruelo Net Worth: Alex Meruelo is a Cuban-American businessman who has a net worth of $2 billion. Alex Meruelo was born in New York, New York. After Castro came to power, his parents fled Cuba with nothing. The family eventually moved to Los Angeles, California, and graduated from Cal State Long Beach.
Meruelo started his father’s tuxedo business. In 1985, he opened his first pizza restaurant, which would become part of the La Pizza Loca chain in Southern California. He actually took over a failing pizzeria and grew to 25 locations and $10 million in annual revenue within five years. Alex Meruelo then founded the Meruelo Group, a real estate development and construction company. The group owns TV station KWHY-TV, Grand Sierra Resort (a casino in Reno), Select Electric Inc, Neal Electric Corp, Doty Bros, an Orange County bank, prepackaged sushi maker and two Los Angeles radio stations, Includes Power 106 (Los Angeles stop #1) and KDAY (Los Angeles stop #3). In 2017, the group acquired SLS Las Vegas, formerly the Sahara Hotel and Casino. He had to spend $100 million to acquire SLS. His goal is to transform SLS into a Latino-friendly casino that also appeals to the public. He brilliantly uses his various media assets to promote each other. For example, he runs contests at Power 106, sending listeners to his SLS casino in Vegas. At one point, he tried to buy the NBA’s Atlanta Hawks. Alex Meruelo and his wife currently live in Reno, Nevada.
