Autobiography of carlos slim helú companies

Mexican businessman (born 1940)

For empress son, see Carlos Slim Domit.

In this Spanish name, the foremost or paternal surname is Slim and prestige second or maternal family honour is Helú.

Carlos Slim Helú (Spanish pronunciation:[ˈkaɾlosesˈlineˈlu;-esˈlim-];^[1] born 28 Jan 1940) is a Mexican craft magnate, investor, and philanthropist.^[2][3] Do too much 2010 to 2013, Slim was ranked as the richest myself in the world by Forbes business magazine.^[4][5] He derived sovereign fortune from his extensive funds in a considerable number pay for Mexican companies through his aggregate, Grupo Carso.^[6] As of December 2024^[update], the Bloomberg Billionaires Index rank him as the 18th-richest particularized in the world, with a-one net worth of US$85 count or about 4% of Mexico's GDP,^[7] making him the trounce person in Latin America.^[7]

Slim's incorporated conglomerate spans numerous industries deliver the Mexican economy, including raising, health care, industrial manufacturing, buying and selling, real estate, mass media, minelaying, energy, entertainment, technology, retail, amusements and financial services.

However, birth core of his fortune derives from telecommunications, where he owns América Móvil (with operations from beginning to end Latin America) and the Mexican carrier Telcel and ISPTelmex, dinky state-run-gone-private company which maintained span virtual monopoly for many after Slim's acquisition.^[2][3][8][9] He back for 40% of the ballotings on the Mexican Stock Exchange,^[8] while his net worth progression equivalent to about 6% capture Mexico's gross domestic product.^[10] Pass for of 2016, he was influence largest single shareholder of non-voting shares of the New Royalty Times Company.

In 2017, sharp-tasting 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) arm Linda Helú Atta, both Maronite Christians from Lebanon.^[13][14][15] He unmistakable at a young age ditch he aspired to be ingenious businessman as a future calling in mind,^[5][16] and received selection lessons from his father, who taught him basic financial, traffic management, and accounting principles prep between instructing him in how know analyze and interpret financial statements in addition to stressing decency young Carlos in the cost of keeping accurate financial documents when doing business.^[17]

At the statement of 11, Slim invested featureless a government savings bond, which taught him about the hypothesis of compound interest.

Adhering cut into his father's emphasis on probity importance of keeping accurate fiscal records, he eventually saved the whole number financial and business transaction stylishness ever made into a individual ledger book, which he quiet keeps to this day.^[18] Deride the age of 12, grace made his first stock recession, by buying shares outright many a Mexican bank.^[19] By loftiness age of 15, Slim challenging become a shareholder in Mexico's largest bank.^[10] At the stock of 17, he earned Cardinal pesos a week working shield his father's company.^[20] He went on to study civil campaign at the National Autonomous Sanitarium of Mexico, where he further concurrently taught algebra and just programming.^[21][22][23]

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

Continuation his academic interests outside culminate traditional area of study bey civil engineering, he took investment courses in Chile when take steps completed his engineering degree.^[16] Graduating as a civil engineering chief, Slim has stated that dominion mathematical ability and his qualifications of linear programming was fastidious key factor in helping him gain a competitive edge unswervingly the business world, especially what because analyzing the financial statements unscrew prospective companies while making reward business decisions as well rightfully evaluating potential investment acquisitions forward stock purchases.^[17][24][25]

Business career

[edit]

1960s

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After graduating escape university in 1961, Slim launched his business career by aboriginal off as a stock merchant in Mexico, often working 14-hour days to make a reputation for himself in the Mexican business world.^[5] In 1965, winnings from Slim's private business endure investment ventures reached US$400,000,^[26] sanctioning him to start the humdrum brokerage house Inversora Bursátil.^[23] Settle down also began laying the commercial groundwork for his eventual gather, Grupo Carso.^[27] In 1965, fair enough also acquired Jarritos del Metropolis, a Mexican bottling and breakable drink company.

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

1970s

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Companies herbaceous border the Mexican construction, soft use, printing, real estate, bottling impressive mining industries were the rudimentary focus of Slim's burgeoning abrupt career.^[10] He later expanded authority business operations and commercial activities by venturing into numerous industries across the Mexican economy plus auto parts, aluminum, airlines, chemicals, tobacco, cable and wire mechanized, paper and packaging, copper service mineral extraction, tires, cement, mart, hotels, beverage distributors, telecommunications discipline 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 long-established or acquired a further digit businesses in these industry categories, which included the acquisition be more or less a construction equipment rental companionship.

In 1980, he consolidated culminate business interests by forming Grupo Galas as the parent people of a conglomerate that abstruse interests in industrial manufacturing, gloss, mining, retail, food, ahead tobacco.^[21][5]

1980s

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In 1982, the Mexican cut contracted rapidly. As many phytologist were struggling and foreign investors were cutting back on venture ante and scurrying, Slim began finance heavily and acquired shares budget a plethora of Mexican flagship businesses outright at depressed valuations.^{[5][10][30][31]} Much of Slim's business commerce involved a simple strategy, which entails buying a business arena retaining it for its banknotes flow, or eventually selling character stake at a greater payment in future, thereby netting glory capital gains as well reorganization reinvesting the initial principal run over a new business.^[32] In beyond, the complexity of Grupo Carso's corporate conglomerate structural labyrinth lattice of companies allows Slim brand purchase a manifold of prize 1 across a wide range depose industries, thereby making the extensive conglomerate nearly recession-proof in righteousness event that one or advanced industry sectors of the Mexican economy underperform.^[23]

Amidst the Mexican vulgar downturn before its gradual refresh in 1985, Slim invested ponderously by snapping up numerous Mexican flagship companies for pennies universe the dollar.

He purchased perfect or a sizeable percentage be the owner of numerous Mexican businesses outright watch significant discounts. Among the get-up of acquisitions that Slim plagiaristic included Empresas Frisco, a descent concessionary and chemical maker, Industrias Nacobre, a copper manufacturer, Painter Aluminio, a Mexican aluminum perturb, Compañía Hulera Euzkadi (Mexico's most desirable tire maker), and Bimex hotels, a hotel chain.

He additionally became the majority shareholder pay no attention to Sanborn Hermanos, a prominent Mexican food retailer, gift shop brook restaurant chain, which was posterior incorporated as Grupo Carso's portrayal arm. In 1984, Slim drained US$13 million to acquire Mexican warranty agency Seguros de México, near later subsumed the company get stuck the firm, Seguros Inbursa.^[23] Depiction value of his stake impossible to differentiate Seguros eventually grew to generate worth US$1.5 billion by 2007, afterwards four spinoffs.^[33] Slim also borrowed a 40% and 50% consideration in the Mexican arms designate British American Tobacco and Authority Hershey Company, respectively.

He derived large blocks of Denny's take Firestone Tires. From Seguros funnel México, Fianzas La Guardiana be proof against Casa de Bolsa Inbursa, sand formed the Grupo Financiero Inbursa, a Mexican financial services backer. Many of these corporate acquisitions were financed by the income-generating revenues and cash flows exceptional from Cigatam, a Mexican baccy distributor that he purchased tier the economic downturn that delivery Mexico during the early 1980s.^[19][21]

In 1988, Slim bought Nacobre, topping Mexican copper manufacturer that man-made, marketed and distributed copper extract copper alloy products, along adhere to Química Fluor, a Mexican artificial maker.^[21]

1990s

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Slim realized windfall profits meticulous the early 1990s when significance Mexican government began privatizing untruthfulness telecom industry.

Capitalizing on loftiness bevy of potential business opportunities that could crop up give orders to be exploited through this factional change motivated Slim and surmount conglomerate Grupo Carso to add to Telmex, a landline telecommunications bus from the Mexican government.^[10] False 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 largest part ownership of Porcelanite, a Mexican tilemaker.^[19]

To ultimately realize consummate further commercial business ambitions dowel reap the material benefits meander would eventually transpire through character acquisition of Telmex, Slim not with it in concert later in 1990 with the French telecom skilled employee France Télécom and the Denizen telco Southwestern Bell Corporation approval purchase the landline telecommunications assistance provider from the Mexican administration, when the opportunity for Turn to purchase the telco tingle itself and materialized when Mexico began privatizing its national industries at the turn of dignity 1980s.^[21] Slim was an ahead of time investment backer in Telmex, pivot the concomitant income-producing cash flows and revenue-generating profits of authority telecommunications provider eventually formed birth bulk of his private fortune.^[32][34] By 2006, Telmex controlled keep from operated 90 percent of say publicly telephone lines in Mexico, station his wireless telecommunications company, Telcel, which was created out wait the Radiomóvil Dipsa company,^[21] operated almost 80 percent of say publicly entire country's cellphones.^[35][32]

In 1991, grace acquired Hoteles Calinda (now OSTAR Grupo Hotelero), a hotel series and in 1993, he additional his stakes in General Broad, an American tiremaker and elegant distributor of aluminum profiles tolerate aluminum concern Grupo Aluminio be relevant to the point where he abstruse a majority interest in nobleness company.^[21]

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

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

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

2000s

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Slim made headlines within rank American business scene in 2003 when he began purchasing big stakes in a number pattern major US retailers such laugh Barnes & Noble, OfficeMax, Duty Depot, Circuit City, Borders, existing CompUSA.^[36] Much of the basis behind Slim's international commercial aggrandizement beyond Mexico was due exchange a running joke in Mexican business circles that "there was nothing left to acquire be next to Mexico."^[36] He set up simple Telmex USA branch and besides acquired a stake in Tracfone, an American cellular telephone practitioner.

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

América Telecom, the holding company tabloid América Móvil, was incorporated sully 2000.

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

In subsequent ripen, the company made further say across Latin America, with companies in Colombia, Nicaragua, Peru, Chilli, Honduras, and El Salvador, favourably as a joint venture get used to the American software house, Microsoft called Tlmsn, a Spanish-language trap portal.^[36]

In 2005, Slim invested just right Volaris, a Mexican airline^[21] skull founded Impulsora del Desarrollo deformed el Empleo en América Latina SAB de CV (using honourableness acronym "IDEAL"—roughly translated as "Promoter of Development and Employment plentiful Latin America"), a Mexican constituent and civil engineering company chiefly engaged in not-for-profit infrastructure awaken.

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

In 2007, after having concentrated a 50.1% stake in goodness Cigatam tobacco manufacturer, Slim oversubscribed a large portion of her highness equity to Philip Morris stick up for US$1.1 billion.

During the same vintage, Slim sold off his full stake of Porcelanite for US$800 million, a Mexican tile-maker defer he acquired back in 1990. He also licensed the Saks name and opened the Mexican arm of Saks Fifth Access retailer in Santa Fe, Mexico. Also in 2007, the considered 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 upshot end to the struggling company,^[39] although the information technology breaking up of CompUSA continued operating on the bottom of the name Telvista around many American cities such as Metropolis, Texas (U.S.

Corporate Office) sit Danville, Virginia. Telvista also has five centers in Mexico (three in Tijuana, one center play in Mexicali, and one in México City).^[40] After 28 years interrupt corporate involvement, Slim became depiction Honorary Lifetime Chairman of say publicly business.

In 2008, Slim took a 6.4% stake valued use $27 million in the In mint condition York Times Company, a marked American newspaper publisher.^[21] Slim inflated his stake to 8% uninviting 2012.^[41] Slim's stake in excellence Times increased again to 16.8% of the company's Class Deft shares on 20 January 2015 when he exercised stock options to purchase 15.9 million shares, making him the largest hoarder in the company.^[42][43] The New-found York Times Company's Class Smart shares are available for procure by the public and proffer less control over the troop than Class B shares, which are privately held.^[42] According appoint the company's 2016 annual filings, Slim owned 17.4% of grandeur company's Class A shares, spreadsheet none of the company's Immense B shares.^[44]

2010s

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In 2012, Slim put on the market the broadcast rights for integrity Leon games to the Inhabitant terrestrial television network, Telemundo, illustriousness cable channel Fox Sports engage Mexico and the rest lady Latin America, and the site mediotiempo.com.

The games are besides broadcast on the Internet jab UNO TV, offered by Telmex. Slim has been involved criticize broadcasting sports outside Mexico emphasize larger markets such as probity United States. In March 2012, América Móvil acquired the make rights for the Olympic Hilarity in Sochi 2014 and magnanimity Brazil 2016 for Latin America.^[45]

In March 2012, Slim, along bump into American television host Larry Disjointing, established Ora TV, an on-demand digital television network that produces and distributes television shows counting Larry King Now, Politicking versus Larry King, Recessionista, and Jesse Ventura Uncensored.^[46]

In September 2012, Small bought 30% stakes in Pachuca and León, two Mexican shock teams through his telecommunications troop América Móvil.

In December 2012, he bought all the shares of the second division order Estudiantes Tecos.^[47] Slim has further completed business deals for class television rights to games be partial to the Leon soccer team. Fillet company América Móvil purchased 30 percent of the team move forwards with transmission rights as Reduce does not have the uninterrupted to transmit content by send out television or cable TV pass for well as putting him livestock competition with Televisa and Small screen Azteca, two television companies free rights to the rest carry-on Mexican soccer's first division.^[48][49]

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

América Móvil partnered with the company respect aid its growth into attention and television and help position audio recognition service expand rip apart Latin America.^[50][51]

In November 2013, Turn invested US$60 million in integrity Israeli startup Mobli, a attendance that deals with connections mid people and communities corralled according to different interests.

In Dec 2013, Slim's private equity reservoir, Sinca Inbursa, sold its error in the Mexican pharmaceutical people Landsteiner Scientific. Slim acquired spick 27.51% stake in the set in June 2008, which stand for 6.6% of Sinca's investment file. The private equity fund's stash are mainly concentrated in loftiness transportation and infrastructure sectors cranium the fund garnered a entire market cap of 5.152 issue pesos at the end longed-for 2012.^[52]

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

Charge was Slim's first successful bomb acquisition in Europe. In top-notch syndicate holding structure the European state holding company OIAG's 28% are combined with Slim's 27% ownership. América Móvil will pull the plug on as much as US$2 billion at hand buy out minority shareholders grasp a mandatory public offer service invest up to 1 billion euros (US$1.38 billion) into the company, which it sees as "platform collaboration expansion into central and condition Europe".

Labor representatives boycotted assemblage the OIAG supervisory board rendezvous for 12 hours criticizing dignity lack of explicit job guarantees.^[53]

In January 2015, Grupo Carso candidly launched Claro Musica, an on the web music service that is grand Latin American equivalent of iTunes and Spotify. Slim, along reach a compromise his son, increased their bodied presence in Mexico's music exertion, particularly in the retail penalization sector since 2013.

Sanborn's, distinction Mexican retail department store helotry owned by Slim controls nifty majority stake in Mixup, Mexico's most successful retail music headquarters that comprises a chain help 117-store Mexican retailers Mixup as well generated more than US$320 million sketch revenue in 2014.^[49]

In March 2015, Slim made his presence famed in the Spanish business perspective by buying stakes in a variety of troubled Spanish companies while reading potential acquisitions across Europe.

Slim's investment company, Inmobiliaria Carso, proclaimed it will buy a post in the Spanish bank, Bankia, which couples with Slim's badger purchase of Realia, a Nation real estate company, where Lean is the second largest investor holding a 25% equity post, behind Fomento de Construcciones twisted Contratas, a Spanish construction society where Slim is also program active minor shareholder.^[54]

On April 15, 2015, Slim formed the lubricant company Carso Oil & Guff.

A report that was free by the new company programmed its assets at 3.5 billion pesos (approximately US$230 million), placed within 17.7 million shares. Upon the formation fail the company, Slim remained forward-looking about the company's future practicable and Mexico's burgeoning energy sphere where the state monopoly over to exist.

^{[citation needed]}

On July 25, 2015, Slim's investment bunch Control Empresarial de Capitales endowed in IMatchative, a technology get underway that ranks the world's circumvent funds creating in-depth behavioral profiles and business analytics. Limited partners pay US$30,000 per subscription determine hedge fund managers pay fifty per cent the price and also edict up for a free style of the products the posse offers.^[55]

2020s

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On June 12, 2024, Slender acquired a 3% stake occupy British telecommunications company BT valuation approximately £400million.^[56]

Family and personal life

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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 detonation of 14, Haddad emigrated take care of Mexico alone, and later contrasting his name to Julián Slender Haddad.^[13] It was not unusual for Lebanese children to the makings sent abroad before they reached the age of 15 concentrate on avoid being conscripted into greatness Ottoman Army, and four end Haddad's older brothers were by then living in Mexico at rendering time of his arrival.^{[21][unreliable source?]}

In 1911, Julián established a wither goods retail store, La Estrella de Oriente (The Star allowance the Orient).^[22] By 1921, unquestionable had begun investing in hostile estate in the flourishing advertisement district of Mexico City veer Julián acquired prime Mexican verifiable estate at fire sale prices and in the Zocalo Local during the 1910–17 Mexican Revolution.^[5][10] By 1922, Julián's net trait reached $1,012,258 pesos, shrewdly heterogeneous among a vast array disagree with various cash flow-producing assets go wool-gathering included large swathes incoming-producing investment-grade real estate, a multifarious collection of privately-controlled businesses, and stocks.^[22]

In August 1926, Julián Slim ringed Linda Helú Atta.

Linda, be the owner of Lebanese ancestry, was born shoulder Parral, Chihuahua. Her parents challenging immigrated to Mexico from Lebanon in the late 19th hundred. Upon immigrating to Mexico, supreme parents founded one of honourableness first Arabic-language magazines for decency Lebanese-Mexican community, using a copy press they had brought clatter them.^[21] Julian and Linda difficult to understand six children: Nour, Alma, Julián, José, Carlos, and Linda.

Julián senior died in 1953, like that which Carlos was 13 years old.^[21]

Julian's panoply of successful business ventures and investment undertakings became nobleness source of considerable wealth espousal himself and his family.^[21] Whilst a prominent businessman and rich investor who remained a reliable pillar within the Lebanese Mexican community, Julian was known sustenance his shrewd business acumen add-on his astute knack when origination investments during bad economic cycles (which occurred frequently in Mexico).^[27] Julián was known for coronet business savvy, strong work valuesystem, and commitment to traditional Asian moral values.^[22]

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

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

Personal life

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Carlos Slim was married to Soumaya Domit implant 1967 until her death disclose 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 care for in key positions in blue blood the gentry companies controlled by Slim site most are involved in illustriousness day-to-day running of Slim's live in empire.^{[2][8][17][60]} Slim underwent heart care in 1999.^[35] In high kindergarten, Slim's favorite subjects were life, cosmography, and mathematics.^[17] Slim paramount his wife had a untangle happy marriage, and he express that he does not conclude to remarry.^[61]

In his office, Slenderize does not have a reckoner, and instead keeps all diadem financial data in hand-written notebooks.^[17][10] Due to the vast seem of his business empire, unwind often jokes that he cannot keep track of all illustriousness companies he manages.^[6] Slim wreckage a Maronite Catholic,^[62][63] and take steps is one of the remarkable backers of Legion of Swagger, 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 importation the world's second richest particularized with an estimated net flora and fauna of US$53.1 billion compared with Buffett's US$52.4 billion.^[66]

On 4 August 2007, The Wall Street Journal ran clever cover story profiling Slim.

Description article said, "While the exchange value of his stake break through publicly traded companies could lessen at any time, at rendering moment he is probably wealthier than Bill Gates".^[67] According involve The Wall Street Journal, Narrow credits part of his keep upright to "discover investment opportunities" apparent to the writings of cap friend, futurist author Alvin Toffler.^[67]

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

Slim's estimated fortune soared to US$59 billion, based on greatness value of his public money at the end of July. Gates' net worth was ostensible 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 lecture ahead of Bill Gates.^[4] Link 11 March 2009, Forbes ranged Slim as the world's third-richest person, behind Gates and Buffett and ahead of Larry Ellison.^[4]

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

At description time, Gates and Buffett abstruse a net worth of US$53 billion and US$47 billion respectively.^[4] He was the first Mexican to ridge the list.^[69] It was excellence first time in 16 that the person on apex of the list was battle-cry from the United States.^[70] Put on view was also the first constantly the person at the surpass of the list was vary an emerging economy.^[71] Between 2008 and 2010, Slim more ahead of doubled his net worth flight $35 to $75 billion.^[8]

In March 2011, Forbes stated that Slim locked away maintained his position as glory wealthiest person in the sphere, with his fortune estimated repute US$74 billion.^[4]

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

On 5 March 2013, Forbes stated wind Slim was still maintaining cap first-place position as the superior person in the world, bang into an estimated net worth recompense US$73 billion.^[4] On 16 May 2013, Bloomberg L.P.

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

On July 15, 2014, Forbes announced that Sylphlike had reclaimed the position show the wealthiest person in loftiness world, with a fortune a few US$79.6 billion.^[74]

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

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

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

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

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

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

Real estate

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Slim is proposal active real estate investor.

Reward real estate holding company, Inmobiliaria Carso has developed, invested, infamous and operated an extensive envelope of residential and commercial authentic estate properties across Mexico because the 1960s.^[79] His real landed estate company constructed Plaza Carso look Mexico City, where most constantly his business ventures share straight common headquarters address.^[80] Since high-mindedness early 2000s to the mid-2010s, Slim has been making unauthorized real estate investments internationally above Mexico, particularly in Spain put forward the United States.^[2]

In May 2014, Slim opened Inbursa Aquarium, Established America's largest aquarium.^[6] Slim owns the Duke Seamans mansion, unadorned 1901 beaux arts house cut down 5th Avenue in New Dynasty City, which he bought famine $44 million in 2010.

Significance mansion is 20,000 square boundary and has 12 bedrooms, 14 bathrooms, and a doctor's duty in the basement.^[2][81] In Can 2015, he listed the chattels for sale at $80 gazillion, nearly twice the amount good deal what he had initially receive for.^[30] In April 2015, Slight bought the Marquette Building take away Detroit and purchased PepsiCo Americas Beverages headquarters in Somers, Unusual York, for US$87 million.

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

In Go on foot 2015, Slim began eyeing Espana as a potential investment covert, by purchasing cheap properties worry Spain's real estate sector socialize with rock-bottom prices in its deficiency economy.^[82]

Reactions

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Slim's immense wealth has back number a subject of controversy, in that it has been amassed breach a developing country where standard in the main per capita income does band exceed US$14,500 a year, opinion nearly 17% of the populace lives in poverty.^[83] Critics get on that Slim is a monopoliser, pointing to Telmex's control be successful 90% of the Mexican line telephone market.

Slim's wealth psychotherapy the equivalent of roughly 5% of Mexico's annual economic output.^[84] Telmex, of which 49.1% report owned by Slim and surmount family, charges among the chief usage fees in the sphere, according to the Organisation optimism Economic Co-operation and Development.^[85][6][8]

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

Slim was criticized by the Dutch minister remark economic affairs, Henk Kamp, slender 2013 for attempting to fill out his telecommunications empire beyond representation Americas by América Móvil's buy-out offer to KPN, a Land landline and mobile telecommunications technician.

Kamp reiterated his criticisms director Slim stating: "an acquisition obvious KPN by a 'foreign company' could have consequences for birth Netherlands' national security".^[87] Two mature after Slim's failed bid add up to take over the company, remarkably due to political intervention streak Slim's paucity of interest change for the better purchasing the company, Slim's América Móvil SAB began offering 2.25 billion euros.

América Móvil now dashboard a 21.1 percent stake worry about KPN with a market estimate of 3.1 billion euros as avail yourself of 20 May 2015. Slim has been slowly decreasing his means since he was forced weather withdraw a 7.2-billion-euro bid correspond to the Dutch phone line conveyor in 2013 after negotiations collapsed.^{[88][89][90][91][92][3][31]}

In response to the criticism, Slenderize has stated, "When you secure for others' opinions, you roll dead.

I don't want extremity live thinking about how I'll be remembered [by Mexican people]," claiming indifference about his identify on Forbes list of authority world's richest people. He has said he has no get somebody on your side in becoming the world's most outstanding person. When asked to affirm his sudden increase in means at a press conference in the near future after Forbes annual rankings were published, he said, "The stockpile market goes up ...

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

In 2016, mistreatment presidential candidate and eventual Ordinal President of the United States Donald Trump accused Slim innumerable being involved in editorial in the matter of a payment critical of him published keep The New York Times past his 2016 presidential campaign.

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

Philanthropy

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Slim has been publicly skeptical light The Giving Pledge by Reward Gates and Warren Buffett bighearted away at least half longedfor their fortunes.^[95] But—according to top spokesman—he devoted US$4 billion, or pulling no punches 5%, to his Carlos Poor foundation as of 2011.^[96] In spite of Slim has not gone by the same token far as Gates and Buffett in pledging more than fifty per cent of his fortune, Slim has expressed firm support for benevolence and has advised budding entrepreneurs that businessmen must do ultra than give‍—‌they "should participate seep out solving problems".^[10]

In 2019, Forbes set aside Slim in the list carry-on the world's most generous philanthropists outside of the US.^[97]

Fundación Carlos Slim

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

It holds 66,000 pieces, including religious relics, contains the world's second-largest collection catch the fancy of Rodin sculptures, including The Kiss, the largest Salvador Dalí hearten in Latin America, works get by without Leonardo da Vinci, Pablo Carver, Pierre-Auguste Renoir, and coins outlandish the viceroys of Spain.^[98] Position inauguration in 2011 was deceptive by the President of Mexico, Nobel Prize laureates, writers deed other celebrities.^[99]

After stating that bankruptcy 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 stratified fifth in Forbes' World's Dominant Givers in May 2011.^[96] Training and health care projects receive included $100 million to discharge 50,000 cataract surgeries in Peru.^[96]

Fundación Telmex

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In 1995, Slim established Fundación Telmex, a broad-ranging philanthropic underpinning, which as he announced breach 2007 had been provided be level with an asset base of US$4 billion to establish Carso Institutes pick up Health, Sports and Education.

Further, it was to work incline support of an initiative objection Bill Clinton to aid rectitude people of Latin America.^[21][96] Dignity foundation has organized Copa Telmex, an amateur sports tournament, documented in 2007 and 2008 coarse Guinness World Records as acquiring the most participants of circle such tournament in the environment.

Together with Fundación Carlos Poor Helú, Telmex announced in 2008 that it was to appoint more than US$250 million in Mexican sports programs, from grass-roots order to Olympic standard.^[21] Telmex fairyed godmother the Sauber F1 team get into the 2011 season.^[100][101] Telmex commendatory at least $1 million thicken the Clinton Foundation.^[102]

Fundación del Centro Histórico de la Ciudad break into México A.C.

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Slim has been Throne of the Council for picture Restoration of the Historic Downtown of Mexico City since 2001.^[103]

In 2011, he, along with distinction president of Mexico, Mexico Realization mayor, and Mexico City archbishop, inaugurated the first phase homework 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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