— The Mexican government says its most powerful man is leaving a family business after taking a $10 million stake in a New York real estate investment trust.
Mexican President Enrique Pena Nieto said Monday he has decided to sell the firm to a group of Mexican investors led by the family of former president Felipe Calderon, whose death last year prompted an exodus of senior politicians from the country.
He has retained his father, former president Vicente Fox, and his brother, the current president, to oversee the sale.
They will be paid a base salary of $1 million, according to a statement from the president’s office.
Fox has been overseeing the business for years.
Calderon is one of the country’s richest men and was Mexico’s first president since a 1989 coup.
The move is a surprise as the real estate market in the U.S. has boomed in recent years.
In 2016, real estate sales were up 14.5 percent, according the National Association of Realtors, the biggest gain since 2005.
But the Trump administration has come under fire for a spate of recent firings, including the firings of two top administration officials who were seen as critics of the president and a number of senior officials.
Pena Pena said the firters were “irresponsible” and “disrespectful” to the country, and he promised to investigate.
The Trump administration says the firments are a result of political vendettas and were linked to the rise of the right-wing populist party of former President Felipe Vidal, who has made the economy the focus of his anti-immigration policies.
The Mexican government said the government’s economic plan will include investments that will increase the number of foreign workers, as well as investments to boost exports.