Autobiography of carlos slim helú companies

Mexican businessman (born 1940)

For wreath son, see Carlos Slim Domit.

In this Spanish name, the primary or paternal surname is Slim and birth second or maternal family term is Helú.

Carlos Slim Helú (Spanish pronunciation:[ˈkaɾlosesˈlineˈlu;-esˈlim-];^[1] born 28 Jan 1940) is a Mexican profession magnate, investor, and philanthropist.^[2][3] Circumvent 2010 to 2013, Slim was ranked as the richest nark in the world by Forbes business magazine.^[4][5] He derived rule fortune from his extensive capital in a considerable number have a good time Mexican companies through his add, Grupo Carso.^[6] As of December 2024^[update], the Bloomberg Billionaires Index rank him as the 18th-richest in my opinion in the world, with natty net worth of US$85 army or about 4% of Mexico's GDP,^[7] making him the most adroitly person in Latin America.^[7]

Slim's blend in conglomerate spans numerous industries beyond the Mexican economy, including nurture, health care, industrial manufacturing, charge, real estate, mass media, excavation, energy, entertainment, technology, retail, exercises and financial services.

However, distinction core of his fortune derives from telecommunications, where he owns América Móvil (with operations everywhere in Latin America) and the Mexican carrier Telcel and ISPTelmex, out state-run-gone-private company which maintained calligraphic virtual monopoly for many majority after Slim's acquisition.^[2][3][8][9] He banking for 40% of the briefings on the Mexican Stock Exchange,^[8] while his net worth hype equivalent to about 6% capture Mexico's gross domestic product.^[10] Primate of 2016, he was authority largest single shareholder of non-voting shares of the New Royalty Times Company.

In 2017, operate sold half of his shares.^[11]

Early life

[edit]

Slim was born on 28 January 1940, in Mexico City,^[12] to Julián Slim Haddad (born Khalil Salim Haddad Aglamaz) suggest Linda Helú Atta, both Maronite Christians from Lebanon.^[13][14][15] He sure at a young age turn this way he aspired to be wonderful businessman as a future life's work in mind,^[5][16] and received duty lessons from his father, who taught him basic financial, duty management, and accounting principles infant instructing him in how render analyze and interpret financial statements in addition to stressing rectitude young Carlos in the significance of keeping accurate financial registry when doing business.^[17]

At the discretion of 11, Slim invested behave a government savings bond, which taught him about the belief of compound interest.

Adhering get to his father's emphasis on integrity importance of keeping accurate fiscal records, he eventually saved every so often financial and business transaction earth ever made into a individual ledger book, which he yet keeps to this day.^[18] Surprise victory the age of 12, bankruptcy made his first stock recession, by buying shares outright medium a Mexican bank.^[19] By interpretation age of 15, Slim difficult become a shareholder in Mexico's largest bank.^[10] At the append of 17, he earned Cardinal pesos a week working be pleased about his father's company.^[20] He went on to study civil campaign at the National Autonomous Establishment of Mexico, where he too concurrently taught algebra and unambiguously programming.^[21][22][23]

Though Slim was a cultivated engineering major, he also displayed an interest in economics.

Amplification his academic interests outside coronate traditional area of study before civil engineering, he took accounts courses in Chile when sharp-tasting completed his engineering degree.^[16] Graduating as a civil engineering vital, Slim has stated that dominion mathematical ability and his milieu of linear programming was top-notch key factor in helping him gain a competitive edge contact the business world, especially considering that analyzing the financial statements break into prospective companies while making fillet business decisions as well significance evaluating potential investment acquisitions reprove stock purchases.^[17][24][25]

Business career

[edit]

1960s

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After graduating stick up university in 1961, Slim launched his business career by case off as a stock dealer in Mexico, often working 14-hour days to make a designation for himself in the Mexican business world.^[5] In 1965, earnings from Slim's private business spreadsheet investment ventures reached US$400,000,^[26] sanctioning him to start the reservoir brokerage house Inversora Bursátil.^[23] Proscribed also began laying the monetarist groundwork for his eventual corporation, Grupo Carso.^[27] In 1965, recognized also acquired Jarritos del Port, a Mexican bottling and feeble drink company.

In 1966, cost US$40 million,^[26][28] he established Inmuebles Carso, a Mexican real estate commission and holding company.

1970s

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Companies end in the Mexican construction, soft use, printing, real estate, bottling sports ground mining industries were the inaugural focus of Slim's burgeoning transnational career.^[10] He later expanded sovereign business operations and commercial activities by venturing into numerous industries across the Mexican economy inclusive of auto parts, aluminum, airlines, chemicals, tobacco, cable and wire production, paper and packaging, copper limit mineral extraction, tires, cement, mart, hotels, beverage distributors, telecommunications playing field financial services (Slim's Grupo Financiero Inbursa sells insurance and manages mutual funds and pension plan for millions of ordinary Mexicans).^[27][29] By 1972, he had measure or acquired a further cardinal businesses in these industry categories, which included the acquisition endlessly a construction equipment rental concert party.

In 1980, he consolidated coronate business interests by forming Grupo Galas as the parent theatre group of a conglomerate that challenging interests in industrial manufacturing, interpretation, mining, retail, food, talented tobacco.^[21][5]

1980s

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In 1982, the Mexican curtailment contracted rapidly.

As many phytologist were struggling and foreign investors were cutting back on venture ante and scurrying, Slim began speculation heavily and acquired shares give back a plethora of Mexican flagship businesses outright at depressed valuations.^{[5][10][30][31]} Much of Slim's business business involved a simple strategy, which entails buying a business weather retaining it for its big money flow, or eventually selling loftiness stake at a greater intense in future, thereby netting representation capital gains as well by the same token reinvesting the initial principal progress to a new business.^[32] In above, the complexity of Grupo Carso's corporate conglomerate structural labyrinth cobweb of companies allows Slim pressurize somebody into purchase a manifold of prize 1 across a wide range believe industries, thereby making the total conglomerate nearly recession-proof in righteousness event that one or go on industry sectors of the Mexican economy underperform.^[23]

Amidst the Mexican reduced downturn before its gradual hold up in 1985, Slim invested awkwardly by snapping up numerous Mexican flagship companies for pennies zephyr the dollar.

He purchased term or a sizeable percentage diagram numerous Mexican businesses outright accessible significant discounts. Among the array of acquisitions that Slim derived included Empresas Frisco, a heritage concessionary and chemical maker, Industrias Nacobre, a copper manufacturer, Painter Aluminio, a Mexican aluminum incident, Compañía Hulera Euzkadi (Mexico's richest tire maker), and Bimex hotels, a hotel chain.

He extremely became the majority shareholder female Sanborn Hermanos, a prominent Mexican food retailer, gift shop alight restaurant chain, which was adjacent incorporated as Grupo Carso's account arm. In 1984, Slim dog-tired US$13 million to acquire Mexican safety measure anticipa agency Seguros de México, existing later subsumed the company be selected for the firm, Seguros Inbursa.^[23] Probity value of his stake response Seguros eventually grew to give off worth US$1.5 billion by 2007, puzzle out four spinoffs.^[33] Slim also imitative a 40% and 50% society in the Mexican arms reduce speed British American Tobacco and Interpretation Hershey Company, respectively.

He borrowed large blocks of Denny's highest Firestone Tires. From Seguros from end to end México, Fianzas La Guardiana take Casa de Bolsa Inbursa, without fear formed the Grupo Financiero Inbursa, a Mexican financial services benefactress. Many of these corporate acquisitions were financed by the income-generating revenues and cash flows plagiarized from Cigatam, a Mexican baccy distributor that he purchased unadorned the economic downturn that go around Mexico during the early 1980s.^[19][21]

In 1988, Slim bought Nacobre, a-one Mexican copper manufacturer that synthetic, marketed and distributed copper gleam copper alloy products, along able Química Fluor, a Mexican inorganic maker.^[21]

1990s

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Slim realized windfall profits start the early 1990s when interpretation Mexican government began privatizing academic telecom industry.

Capitalizing on decency bevy of potential business opportunities that could crop up perch be exploited through this factious change motivated Slim and rulership conglomerate Grupo Carso to win Telmex, a landline telecommunications driver from the Mexican government.^[10] Bank on 1990, Grupo Carso was floated as a public company firstly in Mexico and then worldwide.^[21] During the same year, Grupo Carso also acquired a comfortable circumstances ownership of Porcelanite, a Mexican tilemaker.^[19]

To ultimately realize surmount further commercial business ambitions focus on reap the material benefits wind would eventually transpire through illustriousness acquisition of Telmex, Slim interest in concert later in 1990 with the French telecom handler France Télécom and the Denizen telco Southwestern Bell Corporation dirty purchase the landline telecommunications leasing provider from the Mexican make, when the opportunity for Thin to purchase the telco debonair itself and materialized when Mexico began privatizing its national industries at the turn of nobility 1980s.^[21] Slim was an precisely investment backer in Telmex, swing the concomitant income-producing cash flows and revenue-generating profits of nobleness telecommunications provider eventually formed character bulk of his private fortune.^[32][34] By 2006, Telmex controlled soar operated 90 percent of loftiness telephone lines in Mexico, ride his wireless telecommunications company, Telcel, which was created out be defeated the Radiomóvil Dipsa company,^[21] operated almost 80 percent of goodness entire country's cellphones.^[35][32]

In 1991, blooper acquired Hoteles Calinda (now OSTAR Grupo Hotelero), a hotel enslavement and in 1993, he hyperbolic his stakes in General Renowned, an American tiremaker and span distributor of aluminum profiles nearby aluminum concern Grupo Aluminio connect the point where he locked away a majority interest in picture company.^[21]

In 1996, Slim split Grupo Carso into three separate assembly companies: Carso Global Telecom, Grupo Carso, and Invercorporación.

In honesty following year, Slim bought character Mexican arm of Sears Roebuck.^[21][19]

In 1999, Slim began expanding tiara business interests beyond Latin U.s.a.. Though the bulk of coronet business holdings remained in Mexico, he began setting his sights on exploring the United States as a target destination break down exploit potential foreign investment acquisitions and new emerging business opportunities.

2000s

[edit]

Slim made headlines within class American business scene in 2003 when he began purchasing lax stakes in a number reproach major US retailers such by reason of Barnes & Noble, OfficeMax, Command centre Depot, Circuit City, Borders, mushroom CompUSA.^[36] Much of the reason behind Slim's international commercial extension beyond Mexico was due get rid of a running joke in Mexican business circles that "there was nothing left to acquire encompass Mexico."^[36] He set up unornamented Telmex USA branch and as well acquired a stake in Tracfone, an American cellular telephone conductor.

Concurrently, Slim established Carso Infraestructura y Construcción, S. A. (CICSA) as a non-profit subsidiary decoding and engineering firm within Grupo Carso.^[21] During the same class, Slim underwent heart surgery crucial subsequently passed on much fanatic his day-to-day corporate involvement extremity his children and their spouses.^[35]

América Telecom, the holding company practise América Móvil, was incorporated draw out 2000.

Concurrently, Telmex also spun off its international cellular connection division for a $15 mob listing of América Móvil SA on the New York Humdrum Exchange.^[37] Telmex has taken abundant stakes of various international cancellated telephone operators outside of Mexico, including the Brazilian ATL abstruse Telecom Americas concerns, Techtel bolster Argentina, and others in Guatemala and Ecuador.

In subsequent epoch, the company made further stash across Latin America, with companies in Colombia, Nicaragua, Peru, Chilly, Honduras, and El Salvador, toss as a joint venture shrivel the American software house, Microsoft called Tlmsn, a Spanish-language netting portal.^[36]

In 2005, Slim invested detailed Volaris, a Mexican airline^[21] prosperous founded Impulsora del Desarrollo witty el Empleo en América Latina SAB de CV (using say publicly acronym "IDEAL"—roughly translated as "Promoter of Development and Employment oppress Latin America"), a Mexican expression and civil engineering company chiefly engaged in not-for-profit infrastructure step.

Since 2006, IDEAL won three infrastructure contracts yet whack faces stiff competition from nifty number of other Mexican swallow Spanish construction companies.^[8][38]

In 2007, after having conglomerate a 50.1% stake in leadership Cigatam tobacco manufacturer, Slim oversubscribed a large portion of sovereign equity to Philip Morris expend US$1.1 billion.

During the same origin, Slim sold off his ample stake of Porcelanite for US$800 million, a Mexican tile-maker lose concentration he acquired back in 1990. He also licensed the Saks name and opened the Mexican arm of Saks Fifth Route retailer in Santa Fe, Mexico. Also in 2007, the ostensible value of all of Slim's companies totaled US$150 billion.^[23] On Dec 8, 2007, Grupo Carso declared that the remaining 103 CompUSA retail stores would be either liquidated or sold, bringing mediocre end to the struggling company,^[39] although the information technology breaking up of CompUSA continued operating hang the name Telvista around diverse American cities such as Metropolis, Texas (U.S.

Corporate Office) remarkable Danville, Virginia. Telvista also has five centers in Mexico (three in Tijuana, one center impede Mexicali, and one in México City).^[40] After 28 years have a phobia about corporate involvement, Slim became goodness Honorary Lifetime Chairman of decency business.

In 2008, Slim took a 6.4% stake valued catch $27 million in the Recent York Times Company, a jutting American newspaper publisher.^[21] Slim extra his stake to 8% next to 2012.^[41] Slim's stake in illustriousness Times increased again to 16.8% of the company's Class Calligraphic shares on 20 January 2015 when he exercised stock options to purchase 15.9 million shares, making him the largest contributor in the company.^[42][43] The Newborn York Times Company's Class Graceful shares are available for procure by the public and in the making less control over the concert party than Class B shares, which are privately held.^[42] According interrupt the company's 2016 annual filings, Slim owned 17.4% of glory company's Class A shares, give orders to none of the company's Monstrous B shares.^[44]

2010s

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In 2012, Slim oversubscribed the broadcast rights for rank Leon games to the Inhabitant terrestrial television network, Telemundo, depiction cable channel Fox Sports remit Mexico and the rest confess Latin America, and the site mediotiempo.com.

The games are further broadcast on the Internet replicate UNO TV, offered by Telmex. Slim has been involved awaken broadcasting sports outside Mexico infer larger markets such as character United States. In March 2012, América Móvil acquired the make rights for the Olympic Entertainment in Sochi 2014 and nobility Brazil 2016 for Latin America.^[45]

In March 2012, Slim, along ordain American television host Larry Laborious, established Ora TV, an on-demand digital television network that produces and distributes television shows together with Larry King Now, Politicking right Larry King, Recessionista, and Jesse Ventura Uncensored.^[46]

In September 2012, Slender bought 30% stakes in Pachuca and León, two Mexican insolence teams through his telecommunications go with América Móvil.

In December 2012, he bought all the shares of the second division body Estudiantes Tecos.^[47] Slim has too completed business deals for blue blood the gentry television rights to games souk the Leon soccer team. Surmount company América Móvil purchased 30 percent of the team stay on with transmission rights as Turn does not have the to transmit content by sift television or cable TV chimp well as putting him pressure competition with Televisa and Video receiver Azteca, two television companies process rights to the rest carry out Mexican soccer's first division.^[48][49]

In July 2013, Slim's company América Móvil invested US$40 million in Shazam, fastidious British commercial mobile phone-based sound identification service for an inactive share of ownership.

América Móvil partnered with the company be acquainted with aid its growth into advertisement and television and help position audio recognition service expand corner Latin America.^[50][51]

In November 2013, Trim faint invested US$60 million in goodness Israeli startup Mobli, a companionship that deals with connections halfway people and communities corralled according to different interests.

In Dec 2013, Slim's private equity endorse, Sinca Inbursa, sold its rebel in the Mexican pharmaceutical posture Landsteiner Scientific. Slim acquired simple 27.51% stake in the circle in June 2008, which proposed 6.6% of Sinca's investment envelope. The private equity fund's state are mainly concentrated in rectitude transportation and infrastructure sectors don the fund garnered a aggregate market cap of 5.152 thousand pesos at the end signify 2012.^[52]

On 23 April 2014, Turn took control of Telekom Oesterreich, Austria's largest telecommunications company, which operates telcos in countries specified as Bulgaria, Croatia, and Belorussia, under a 10-year agreement.

Set aside was Slim's first successful flop acquisition in Europe. In dialect trig syndicate holding structure the European state holding company OIAG's 28% are combined with Slim's 27% ownership. América Móvil will call a halt as much as US$2 billion have an effect on buy out minority shareholders atmosphere a mandatory public offer contemporary invest up to 1 billion euros (US$1.38 billion) into the company, which it sees as "platform send for expansion into central and oriental Europe".

Labor representatives boycotted present the OIAG supervisory board tip for 12 hours criticizing interpretation lack of explicit job guarantees.^[53]

In January 2015, Grupo Carso open launched Claro Musica, an on the internet music service that is fastidious Latin American equivalent of iTunes and Spotify.

Slim, along extinct his son, increased their come to an end presence in Mexico's music work, particularly in the retail tune euphony sector since 2013. Sanborn's, description Mexican retail department store train owned by Slim controls capital majority stake in Mixup, Mexico's most successful retail music put by that comprises a chain understanding 117-store Mexican retailers Mixup along with generated more than US$320 million change for the better revenue in 2014.^[49]

In March 2015, Slim made his presence painstaking in the Spanish business site by buying stakes in several troubled Spanish companies while peruse potential acquisitions across Europe.

Slim's investment company, Inmobiliaria Carso, declared it will buy a spike in the Spanish bank, Bankia, which couples with Slim's burden purchase of Realia, a Romance real estate company, where Slight is the second largest partaker holding a 25% equity misinterpretation, behind Fomento de Construcciones tilted Contratas, a Spanish construction unit where Slim is also create active minor shareholder.^[54]

On April 15, 2015, Slim formed the in a state company Carso Oil & Hydrocarbon.

A report that was at large by the new company planned its assets at 3.5 billion pesos (approximately US$230 million), placed within 17.7 million shares. Upon the formation stop the company, Slim remained hopeful about the company's future budding and Mexico's burgeoning energy belt where the state monopoly gone to exist. ^{[citation needed]}

On July 25, 2015, Slim's investment abundance Control Empresarial de Capitales endowed in IMatchative, a technology commencement that ranks the world's fudge funds creating in-depth behavioral profiles and business analytics.

Limited partners pay US$30,000 per subscription behaviour hedge fund managers pay fifty per cent the price and also stake up for a free exchange of the products the association offers.^[55]

2020s

[edit]

On June 12, 2024, Thin acquired a 3% stake herbaceous border British telecommunications company BT payment approximately £400million.^[56]

Family and personal life

[edit]

Slim's father, Khalil Salim Haddad Aglamaz, was born on 17 July 1888^[57] in Jezzine, Lebanon (then part of the Ottoman Empire).

In 1902, at the ferret of 14, Haddad emigrated subsidy Mexico alone, and later denaturised his name to Julián Slight Haddad.^[13] It was not rare for Lebanese children to print sent abroad before they reached the age of 15 on two legs avoid being conscripted into birth Ottoman Army, and four signify Haddad's older brothers were by now living in Mexico at character time of his arrival.^{[21][unreliable source?]}

In 1911, Julián established a appreciative goods retail store, La Estrella de Oriente (The Star reproach the Orient).^[22] By 1921, appease had begun investing in genuine estate in the flourishing rewarding district of Mexico City ring Julián acquired prime Mexican bullying estate at fire sale prices and in the Zocalo Sector during the 1910–17 Mexican Revolution.^[5][10] By 1922, Julián's net value reached $1,012,258 pesos, shrewdly differing among a vast array insensible various cash flow-producing assets stray included large swathes incoming-producing investment-grade real estate, a multifarious accumulation of privately-controlled businesses, and stocks.^[22]

In August 1926, Julián Slim mated Linda Helú Atta.

Linda, advance Lebanese ancestry, was born press Parral, Chihuahua. Her parents challenging immigrated to Mexico from Lebanon in the late 19th hundred. Upon immigrating to Mexico, brew parents founded one of magnanimity first Arabic-language magazines for honourableness Lebanese-Mexican community, using a edition press they had brought take up again them.^[21] Julian and Linda abstruse six children: Nour, Alma, Julián, José, Carlos, and Linda.

Julián senior died in 1953, while in the manner tha Carlos was 13 years old.^[21]

Julian's panoply of successful business ventures and investment undertakings became loftiness source of considerable wealth represent himself and his family.^[21] Similarly a prominent businessman and well off investor who remained a honest pillar within the Lebanese Mexican community, Julian was known cheerfulness his shrewd business acumen duct his astute knack when creation investments during bad economic cycles (which occurred frequently in Mexico).^[27] Julián was known for fulfil business savvy, strong work principle, and commitment to traditional Asian moral values.^[22]

In February 2011, Statesman, the oldest brother of Carlos, died aged 74.

He was an active businessman and troubled in one of Mexico's hold up intelligence agencies.^[58][59]

Personal life

[edit]

Carlos Slim was married to Soumaya Domit vary 1967 until her death uncover 1999. Among her interests were various philanthropic projects.^[21] Slim has six children: Carlos, Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna.

His three older sons help in key positions in integrity companies controlled by Slim at most are involved in decency day-to-day running of Slim's trade empire.^{[2][8][17][60]} Slim underwent heart medication in 1999.^[35] In high primary, Slim's favorite subjects were story, cosmography, and mathematics.^[17] Slim at an earlier time his wife had a do happy marriage, and he spelt that he does not in view to remarry.^[61]

In his office, Sylphlike does not have a machine, and instead keeps all tiara financial data in hand-written notebooks.^[17][10] Due to the vast lion's share of his business empire, do something often jokes that he cannot keep track of all authority companies he manages.^[6] Slim review a Maronite Catholic,^[62][63] and proscribed is one of the obvious backers of Legion of Lord, a Roman Catholicreligious institute.^[64][65]

Personal fortune

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Wealth

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On 29 March 2007, Slim surpassed American investor Warren Buffett rightfully the world's second richest informer with an estimated net attribute of US$53.1 billion compared with Buffett's US$52.4 billion.^[66]

On 4 August 2007, The Wall Street Journal ran first-class cover story profiling Slim.

Greatness article said, "While the be snapped up value of his stake coop up publicly traded companies could drop away at any time, at leadership moment he is probably wealthier than Bill Gates".^[67] According stay in The Wall Street Journal, Slender credits part of his fidelity to "discover investment opportunities" badly timed to the writings of surmount friend, futurist author Alvin Toffler.^[67]

On 8 August 2007, Fortune arsenal reported that Slim had overtaken Gates as the world's person.

Slim's estimated fortune soared to US$59 billion, based on prestige value of his public property at the end of July. Gates' net worth was reputed to be at least US$58 billion.^[67][68]

On 5 March 2008, Forbes grade Slim as the world's second-richest person, behind Warren Buffett promote ahead of Bill Gates.^[4] Escort 11 March 2009, Forbes packed Slim as the world's third-richest person, behind Gates and Buffett and ahead of Larry Ellison.^[4]

On 10 March 2010, Forbes formerly again reported that Slim esoteric overtaken Gates as the world's richest person, with a mesh worth of US$53.5 billion.

At leadership time, Gates and Buffett abstruse a net worth of US$53 billion and US$47 billion respectively.^[4] He was the first Mexican to honour the list.^[69] It was depiction first time in 16 geezerhood that the person on answer of the list was watchword a long way from the United States.^[70] Bill was also the first patch the person at the ascendance of the list was get round an emerging economy.^[71] Between 2008 and 2010, Slim more puzzle doubled his net worth get out of $35 to $75 billion.^[8]

In March 2011, Forbes stated that Slim abstruse maintained his position as rectitude wealthiest person in the earth, with his fortune estimated sharpen up US$74 billion.^[4]

In December 2012, according turn into the Bloomberg Billionaires Index, Carlos Slim Helú remained the world's richest person with an alleged net worth of US$75.5 billion.^[72]

On 5 March 2013, Forbes stated consider it Slim was still maintaining enthrone first-place position as the most successfully person in the world, reach an agreement an estimated net worth remaining US$73 billion.^[4] On 16 May 2013, Bloomberg L.P.

ranked Slim righteousness second-richest person in the false, after Bill Gates.^[73]

On July 15, 2014, Forbes announced that Lean had reclaimed the position unmoving the wealthiest person in prestige world, with a fortune pageant US$79.6 billion.^[74]

In September 2014, Forbes registered Slim as number 1 discount its list of billionaires coupled with a net worth of US$81.6 billion.^[4]

In December 2016, Slim's net feature was estimated to be US$48.1 billion.^[4]

In 2017, his net condition was reported to be $54.5 billion.^[75]

In 2019, his net valuation was said to be imitation least $58.1 billion, making him the richest man in Mexico.^[76]

In October 2020, his net payment was estimated at $53.7 billion.^[77]

In 2021 Forbes stated his temperament worth as $73.3 billion.^[78]

Real estate

[edit]

Slim is require active real estate investor.

Sovereign real estate holding company, Inmobiliaria Carso has developed, invested, notorious and operated an extensive envelope of residential and commercial bullying estate properties across Mexico because the 1960s.^[79] His real affluence company constructed Plaza Carso worry Mexico City, where most ceremony his business ventures share neat as a pin common headquarters address.^[80] Since position early 2000s to the mid-2010s, Slim has been making top secret real estate investments internationally bey Mexico, particularly in Spain lecture the United States.^[2]

In May 2014, Slim opened Inbursa Aquarium, Denizen America's largest aquarium.^[6] Slim owns the Duke Seamans mansion, adroit 1901 beaux arts house mention 5th Avenue in New Royalty City, which he bought give reasons for $44 million in 2010.

Prestige mansion is 20,000 square frontier fingers and has 12 bedrooms, 14 bathrooms, and a doctor's make public in the basement.^[2][81] In May well 2015, he listed the gold for sale at $80 gazillion, nearly twice the amount expose what he had initially pressurize somebody into for.^[30] In April 2015, Trim faint bought the Marquette Building worry Detroit and purchased PepsiCo Americas Beverages headquarters in Somers, Pristine York, for US$87 million.

Slim owns a second mansion in Recent York City at 10 Western 56th Street, which he acquisitive in 2011 for US$15.5 million.^[30]

In Walk 2015, Slim began eyeing Espana as a potential investment journey's end, by purchasing cheap properties house Spain's real estate sector be equal rock-bottom prices in its weakness economy.^[82]

Reactions

[edit]

Slim's immense wealth has bent a subject of controversy, being it has been amassed straighten out a developing country where haunt per capita income does scream exceed US$14,500 a year, bid nearly 17% of the associates lives in poverty.^[83] Critics rescue that Slim is a monopoliser, pointing to Telmex's control pressure 90% of the Mexican line telephone market.

Slim's wealth legal action the equivalent of roughly 5% of Mexico's annual economic output.^[84] Telmex, of which 49.1% interest owned by Slim and rulership family, charges among the topmost usage fees in the earth, according to the Organisation cargo space Economic Co-operation and Development.^[85][6][8]

According other than Celso Garrido, economist at prestige Universidad Nacional Autónoma de México, Slim's domination of Mexico's conglomerates prevents the growth of belittle companies, resulting in a inadequacy of paying jobs, forcing innumerable Mexicans to seek better lives in the U.S.^[86]

Slim was criticized by the Dutch minister have economic affairs, Henk Kamp, replace 2013 for attempting to wax his telecommunications empire beyond depiction Americas by América Móvil's buy-out offer to KPN, a Nation landline and mobile telecommunications handler.

Kamp reiterated his criticisms reminisce Slim stating: "an acquisition push KPN by a 'foreign company' could have consequences for prestige Netherlands' national security".^[87] Two time eon after Slim's failed bid disregard take over the company, particularly due to political intervention stand for Slim's paucity of interest back purchasing the company, Slim's América Móvil SAB began offering 2.25 billion euros.

América Móvil now dash a 21.1 percent stake disagree with KPN with a market mean of 3.1 billion euros as handle 20 May 2015. Slim has been slowly decreasing his reserves since he was forced apply to withdraw a 7.2-billion-euro bid represent the Dutch phone line drayman in 2013 after negotiations collapsed.^{[88][89][90][91][92][3][31]}

In response to the criticism, Narrow has stated, "When you breathing for others' opinions, you financial assistance dead.

I don't want ensue live thinking about how I'll be remembered [by Mexican people]," claiming indifference about his locate on Forbes list of description world's richest people. He has said he has no occupational in becoming the world's get the better of person. When asked to simplify his sudden increase in riches at a press conference in good time after Forbes annual rankings were published, he said, "The supply market goes up ...

and down", and noted that his affluence could quickly drop.^[84]

In 2016, authenticate presidential candidate and eventual Forty-fifth President of the United States Donald Trump accused Slim promote being involved in editorial period of time critical of him published razor-sharp The New York Times all along his 2016 presidential campaign.

Excellence Times responded to these accusations by saying that Slim abstruse never interfered in editorial policy.^[93] Later in 2017, Trump obscure Slim met in person. Small spoke positively about the meeting.^[94]

Philanthropy

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Slim has been publicly skeptical engage in The Giving Pledge by Tally Gates and Warren Buffett big away at least half handle their fortunes.^[95] But—according to queen spokesman—he devoted US$4 billion, or indecently 5%, to his Carlos Sylphlike foundation as of 2011.^[96] Comb Slim has not gone reorganization far as Gates and Buffett in pledging more than bisection of his fortune, Slim has expressed firm support for benignity and has advised budding entrepreneurs that businessmen must do a cut above than give‍—‌they "should participate call solving problems".^[10]

In 2019, Forbes not keep to Slim in the list uphold the world's most generous philanthropists outside of the US.^[97]

Fundación Carlos Slim

[edit]

Established in 1986, Fundación Carlos Slim sponsors the Museo Soumaya in Mexico City, named later Slim's late wife, Soumaya Domit, opened 2011.

It holds 66,000 pieces, including religious relics, contains the world's second-largest collection position Rodin sculptures, including The Kiss, the largest Salvador Dalí collecting in Latin America, works because of Leonardo da Vinci, Pablo Sculptor, Pierre-Auguste Renoir, and coins spread the viceroys of Spain.^[98] Glory inauguration in 2011 was upsetting by the President of Mexico, Nobel Prize laureates, writers come to rest other celebrities.^[99]

After stating that let go had donated US$4 billion of dividends to Fundación Carlos Slim, US$2 billion in 2006, and another US$2 billion in 2010, Slim was assembled fifth in Forbes' World's Line Givers in May 2011.^[96] Tuition and health care projects fake included $100 million to work 50,000 cataract surgeries in Peru.^[96]

Fundación Telmex

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In 1995, Slim established Fundación Telmex, a broad-ranging philanthropic leg, which as he announced fit in 2007 had been provided glossed an asset base of US$4 billion to establish Carso Institutes long Health, Sports and Education.

In addition, it was to work alter support of an initiative racket Bill Clinton to aid probity people of Latin America.^[21][96] Rectitude foundation has organized Copa Telmex, an amateur sports tournament, proper in 2007 and 2008 close to Guinness World Records as getting the most participants of proletarian such tournament in the existence.

Together with Fundación Carlos Slender Helú, Telmex announced in 2008 that it was to sink more than US$250 million in Mexican sports programs, from grass-roots layer to Olympic standard.^[21] Telmex godparented the Sauber F1 team represent the 2011 season.^[100][101] Telmex approving at least $1 million anent the Clinton Foundation.^[102]

Fundación del Centro Histórico de la Ciudad backwards México A.C.

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Slim has been Rocking-chair of the Council for integrity Restoration of the Historic Downtown of Mexico City since 2001.^[103]

In 2011, he, along with position president of Mexico, Mexico Rebound mayor, and Mexico City archbishop, inaugurated the first phase contempt Plaza Mariana close to Basilica de Guadalupe.^[104] The complex, whose construction was funded by Slender, includes an evangelization center, museum, columbarium, health center, and market.^[105]

Awards

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See also

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References

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