During a peculiar press conference, Real Madrid president Florentino Perez dropped a bombshell by mentioning “an entrepreneur from the energy sector with a South American accent who seems interested in running for the presidency.” While Perez later clarified that the individual is a “Mexican entrepreneur,” the hint left many wondering. The person in question is Enrique Riquelme Vivés, long considered a potential successor to Perez at Real Madrid.
Born in 1989 in Cox, Alicante, Spain, Riquelme is the founder and CEO of Cox Group, a company specializing in water and energy, particularly renewable energy, desalination, water reuse, and treatment. According to the company’s corporate profile, Cox went public on the Spanish stock market in November 2024. His entrepreneurial journey began outside Spain. In 2010, he settled in Panama and founded El Sol Group, which ventured into mining, cement, infrastructure, and energy. He later expanded into Latin America, launching renewable energy projects in Guatemala, Chile, Mexico, Panama, and Colombia. In 2014, he founded Cox Energy, which brought him public recognition in the solar energy sector.
One of his most notable business moves was acquiring assets from the bankrupt Abengoa. In 2023, a court awarded the assets of the former Andalusian multinational to Cox Energy, catapulting Riquelme into the national economic spotlight.
Riquelme first entered the Real Madrid spotlight in 2021 when speculation emerged about a potential presidential bid against Florentino Perez. At the time, he stated he had been a Real Madrid member for over 20 years and expressed willingness to propose an alternative, but ultimately did not take action. Media reports noted that Riquelme was among those indicating interest in running, and Perez ended up being elected unopposed.
The main obstacle for any candidate is the club’s statutes. To become Real Madrid president, one must be Spanish, of legal age, fulfill social obligations, not be under any disqualification, not hold positions at other clubs, be a continuous member for at least 20 years, and provide a bank guarantee of 15% of the club’s budget backed by personal assets. In 2021, this guarantee amounted to approximately €123.8 million. With the current budget significantly increased, various media calculations suggest the guarantee has surpassed €170-180 million, making candidacy a massive economic and administrative challenge even for the ultra-wealthy.
Riquelme has kept the door open for a potential presidential run. In 2024, sources close to him denied immediate plans to challenge Perez, citing focus on his business conglomerate. However, recent weeks have seen renewed reports of him building a team or exploring future candidacy, with notable figures like Rafael Nadal reportedly in his circle. Without an official announcement or a specific election call and candidate submission period, these should be considered unofficial moves.
His wealth has also been on the rise. Citing a list from El Mundo, media reports estimate his assets at around €460 million, a significant increase from the previous year. Other reports from 2023 showed assets of approximately €160 million, reflecting Cox’s recent business growth. Riquelme fits the profile of a potential candidate for three reasons: he is a long-time Real Madrid member, possesses corporate capabilities, and projects an image of a young, internationalist manager involved in large-scale operations. Yet, he faces the same monumental challenges as any alternative to Perez: strict statutory requirements, the guarantee barrier, lack of internal political structure at the club, and competition against a president with immense institutional control.
