National Hispanic Heritage Month celebrates the legacy of changemakers across the Latin American world. These stories, alongside those within the CU Denver Business School community, reveal determination, tenacity, service, authenticity, and grit.
The Business School’s own Yvonne Castellanos worked as the representative for the Hispanic community in Commerce City before opening a business with her husband, all while showcasing the transformative power of hard work and education. As National Hispanic Heritage Month begins on September 15th, this month is a time to explore how Hispanic-American entrepreneurs have shaped history.
Maria Gertrudis Barceló
Born in Sonora, Mexico, in the early 1800s, Barceló’s family moved to the territory of New Mexico shortly after Mexico won its independence from Spain. She married in 1823; however, she chose to retain her maiden name and kept the rights to her properties throughout her marriage. Two years later, she was fined for operating a gambling saloon for miners in Northern New Mexico, and so she relocated to Santa Fe and opened an even bigger saloon. The second saloon took up an entire block and was lavishly decorated. In order to stay close to the day-to-day operation of her business, she worked as a card dealer in her casino and became known as the best Monte dealer in the Southwest.
Always seeking new investments, Barceló expanded her real estate empire and gold ventures. During the Mexican-American War, she allied herself with the American civilian government after they established themselves in Santa Fe. Barceló was often the target of criticism from those who opposed gambling, who dubbed her “The Queen of Sin”, despite her frequent philanthropic donations to the Catholic Church and families in need. When she died in 1852, she left her several properties and a fortune of $10,000 (over $400,000 today) to her family, and the whole city of Santa Fe attended her funeral.
Desi Arnaz
Arnaz was born in Santiago de Cuba, Cuba, in 1917. A descendant of Cuban nobility, the family was forced to flee to Miami, where he went to school with Al Capone’s only child. Money was a constant worry for his family, but after high school, Arnaz started his own band, the Desi Arnaz Orchestra, which jump-started his stage acting career. He was cast in the Rodgers and Hart Broadway musical Too Many Girls, which was such a hit that a movie version began filming that year. While filming the movie version of Too Many Girls, Arnaz met Lucille Ball, his future wife.
After receiving his draft letter in 1943, Arnaz spent almost three years in the army, though he was classified for limited service due to a knee injury. After the war, Arnaz formed another orchestra, before he and Ball co-starred in I Love Lucy. Although Arnaz’s role initially faced some resistance, due to Arnaz’s accent and descent, he and Ball would become TV’s most successful entrepreneurs over the course of the show. With Ball, Arnaz founded Desilu Productions, which was the second-largest independent television production company for over a decade, and was responsible for shows like Mission: Impossible and Star Trek. Between inventing the concept of a rerun and syndicated TV shows, Arnaz executive-produced several other shows and series, while still remaining an active TV personality and actor.
Romana Acosta Bañuelos
Daughter of Mexican immigrants in 1925. Deported during the Great Depression, despite being a citizen. The family moved to a ranch in Sonora, and her mother became a role model for Acosta. At the age of 16, Acosta married Martin Torres and had two sons. At 18, she moved to Los Angeles with her children and $7. For a few years, she worked as a dishwasher during the day and a tortilla maker at night. At 21, she married her second husband, Alejandro Bañuelos, and shortly after, she took her $500 in savings and started a tortilla factory.
Constantly seeking opportunities to sell her tortillas to local businesses, Acosta quickly grew her business. They incorporated the company under the name “Ramona’s Mexican Food Products, Inc.” Some accounts say the name “Ramona” rather than her actual name, Romana, was due to a spelling error on behalf of the sign painters, while others believe it was in order to be more appealing to American audiences, who were unfamiliar with the name “Romana”. Either way, by the 1960s, Ramona’s Mexican Food Products was thriving, and Acosta named her and Alejandro’s daughter Ramona after the business.
The success of her business inspired Acosta to find ways to give back to her community; therefore, in 1963, she and some businessmen founded the Pan-American National Bank with the intention of helping Latinos start their own businesses. By 1969, Acosta was appointed chairperson of the bank’s board of directors. Later that year, she received the city of Los Angeles’s Outstanding Business Woman of the Year Award. Acosta also established the Ramona Mexican Food Products Scholarship for Mexican-American students.
The success of the bank also caught the attention of then-President Nixon, who anointed her for the role of United States Treasurer in 1970. She held office from 1971 until 1974, before returning to run her business. By 1979, Ramona’s Mexican Food Products saw sales in the realm of $12 million a year. She remained active in both her business and the Pan-American Bank until the late 1990s, when her three children took up her mantle.
Oscar Munoz
Growing up, Munoz was cared for by his maternal grandmother, and the pair moved from home to home as she worked. “I always remember two things, one, she was always loving, always supportive; and second, her grizzled hands, from the work that she did, holding me, which always felt so comforting,” said Munoz, at Celebration of Success 2025. Munoz’s grandmother continues to be a source of inspiration.
Munoz started his career in the soda business, holding various positions at PepsiCo and The Coca-Cola Company, before spending time in the telecommunications industry. In 2015, he was appointed the CEO of United Airlines. During his time at United, Munoz embarked on a “Listening Tour” and lent his ear to United board members, customers, and employees, ensuring his leadership decisions encompassed every stakeholder.
The listening tour was scheduled to last 30 months, but 37 days into his role at United, Munoz suffered a massive heart attack, and on January 5, 2016, he received a heart transplant. By March, he was back at work; however, it was with a reinforced understanding that success shouldn’t come at the expense of one’s mental and physical health.
As a first-generation student, Munoz has seen the tremendous impact that scholarship can have for students. In 2011, Munoz gave $100,000 to the University of North Florida to fund scholarships for first-gen students. In 2025, Munoz partnered with the CU Denver Business School and helped raise over $460,000 for scholarships, helping enable countless business school students to pursue their dreams.
From Barceló’s daring entrepreneurship to Munoz’s strong leadership, Hispanic Americans have shaped business and success for generations. Without the imagination ofArnaz, modern American TV wouldn’t hold the same spots in American hearts. Without Bañuelos’ contributions, Americans wouldn’t experience a now-tried-and-true household staple cuisine.
It takes the courage and innovation of diverse cultures to create success. As a Hispanic-Serving Institution, CU Denver is proud to celebrate and explore the stories of Hispanic innovators this National Hispanic Heritage Month.
