Founder of Corona beer leaves $281m for the well-being of his village

Company - Pavan Pandey - Nov 30,2016

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founder of corona beer leaves 281m for the well being of his village

The founder of Corona beer, Mr. Antonino Fernandez, has bequeathed $281 million for his village where he grew up.

The billionaire founder of Corona beer who died aged 98 in August this year, left a total $281 million to the tiny village of Cerezales del Condado situated in northwestern Spain.

This week a news went viral on the internet that, the billionaire businessman and founder of Corona brewery, Mr. Antonino Fernandez had left $3 million to every person in his village in Spain. This news was reported by many top UK media houses, including the BBC, the Independent and Fox news. But the report wasn’t true. According to the people of the village, they haven’t received any money directly from Mr. Farnandez.

According to Lucia Alajos spokeswomen for the Fundación Cerezales Antonino y Cinia, (a cultural and contemporary art center set up by Antonino Fernández) Mr. Fernandez did leave a huge amount of money with his hometown, and he has paid for everything from cultural institutions to churches in his village. She also said that, he left his entire money to his family members in Spain, who do visit the village every year and help to keep the village’s economy going. Ms. Alaejos further added, “It seems someone got the wrong end of the stick and the story has just grown and grown.”

The billionaire Antonino Fernandez was born in Cerezales in 1917 and after the civil war in the 1930s he left Spain. He later immigrated to Mexico City with his wife in 1949 at the age of 32 to work at the Cerveceria Modelo brewery, now owned by Grupo Modelo. He became the Chief Executive Officer of Grupo Modelo in 1971 by making the investment in machinery developments widely attributed to the success achievement of Corona beer. For his charity work, Mr. Fernandez was awarded with the prestigious Oder of Isabella the Catholic by The King of Spain Juan Carlos I.