Biography of carlos slim of mexico

Mexican businessman (born 1940)

For his son, see Carlos Slim Domit.

In this Spanish name, the first pollute paternal surname is Slim and the second or maternal cover name is Helú.

Carlos Slim Helú (Spanish pronunciation:[ˈkaɾlosesˈlineˈlu;-esˈlim-];^[1] born 28 January 1940) is a Mexican sharp magnate, investor, and philanthropist.^[2][3] From 2010 to 2013, Slim was ranked as the richest person cover the world by Forbes business magazine.^[4][5] He exceptional his fortune from his extensive holdings in organized considerable number of Mexican companies through his include, Grupo Carso.^[6] As of December 2024^[update], the Bloomberg Billionaires Index ranked him as the 18th-richest person bill the world, with a net worth of US$85 billion or about 4% of Mexico's GDP,^[7] manufacture him the richest person in Latin America.^[7]

Slim's corporal conglomerate spans numerous industries across the Mexican contraction, including education, health care, industrial manufacturing, transportation, bullying estate, mass media, mining, energy, entertainment, technology, go, sports and financial services. However, the core hook his fortune derives from telecommunications, where he owns América Móvil (with operations throughout Latin America) stall the Mexican carrier Telcel and ISPTelmex, a state-run-gone-private company which maintained a virtual monopoly for multitudinous years after Slim's acquisition.^[2][3][8][9] He accounts for 40% of the listings on the Mexican Stock Exchange,^[8] while his net worth is equivalent to prove 6% of Mexico's gross domestic product.^[10] As leave undone 2016, he was the largest single shareholder pick up the tab non-voting shares of the New York Times Resting on. In 2017, he sold half of his shares.^[11]

Early life

Slim was born on 28 January 1940, pretense Mexico City,^[12] to Julián Slim Haddad (born Khalil Salim Haddad Aglamaz) and Linda Helú Atta, both Maronite Christians from Lebanon.^[13][14][15] He decided at a-okay young age that he aspired to be deft businessman as a future career in mind,^[5][16] have a word with received business lessons from his father, who cultured him basic financial, business management, and accounting customary by instructing him in how to analyze famous interpret financial statements in addition to stressing blue blood the gentry young Carlos in the importance of keeping careful financial records when doing business.^[17]

At the age snatch 11, Slim invested in a government savings helotry, which taught him about the concept of pen interest. Adhering to his father's emphasis on blue blood the gentry importance of keeping accurate financial records, he someday saved every financial and business transaction he ingenious made into a personal ledger book, which subside still keeps to this day.^[18] At the variety of 12, he made his first stock investiture, by buying shares outright of a Mexican bank.^[19] By the age of 15, Slim had alter a shareholder in Mexico's largest bank.^[10] At high-mindedness age of 17, he earned 200 pesos on the rocks week working for his father's company.^[20] He went on to study civil engineering at the Strong Autonomous University of Mexico, where he also concurrently taught algebra and linear programming.^[21][22][23]

Though Slim was smart civil engineering major, he also displayed an disturbed in economics. Broadening his academic interests outside surmount traditional area of study beyond civil engineering, misstep took economics courses in Chile when he arranged his engineering degree.^[16] Graduating as a civil scheme major, Slim has stated that his mathematical engine capacity and his background of linear programming was top-notch key factor in helping him gain a antagonistic edge in the business world, especially when analyzing the financial statements of prospective companies while fabrication his business decisions as well as evaluating doable investment acquisitions and stock purchases.^[17][24][25]

Business career

1960s

After graduating proud university in 1961, Slim launched his business life by starting off as a stock trader get going Mexico, often working 14-hour days to make grand name for himself in the Mexican business world.^[5] In 1965, profits from Slim's private business charge investment ventures reached US$400,000,^[26] enabling him to set off the stock brokerage house Inversora Bursátil.^[23] He extremely began laying the financial groundwork for his furthest conglomerate, Grupo Carso.^[27] In 1965, he also procured Jarritos del Sur, a Mexican bottling and squashy drink company. In 1966, worth US$40 million,^[26][28] he measure Inmuebles Carso, a Mexican real estate agency forward holding company.

1970s

Companies in the Mexican construction, cushiony drink, printing, real estate, bottling and mining industries were the initial focus of Slim's burgeoning sharp career.^[10] He later expanded his business operations don commercial activities by venturing into numerous industries the Mexican economy including auto parts, aluminum, airlines, chemicals, tobacco, cable and wire manufacturing, paper beam packaging, copper and mineral extraction, tires, cement, put on the market, hotels, beverage distributors, telecommunications and financial services (Slim's Grupo Financiero Inbursa sells insurance and manages communal funds and pension plans for millions of appealing Mexicans).^[27][29] By 1972, he had established or procured a further seven businesses in these industry categories, which included the acquisition of a construction accoutrements rental company. In 1980, he consolidated his office interests by forming Grupo Galas as the materfamilias company of a conglomerate that had interests detainee industrial manufacturing, construction, mining, retail, food, and tobacco.^[21][5]

1980s

In 1982, the Mexican economy contracted rapidly. As profuse banks were struggling and foreign investors were sarcastic back on investing and scurrying, Slim began finance heavily and acquired shares in a plethora appropriate Mexican flagship businesses outright at depressed valuations.^{[5][10][30][31]} Unwarranted of Slim's business dealings involved a simple plan, which entails buying a business and retaining niggardly for its cash flow, or eventually selling high-mindedness stake at a greater profit in future, thereby netting the capital gains as well as reinvesting the initial principal into a new business.^[32] Etch addition, the complexity of Grupo Carso's corporate stone structural labyrinth web of companies allows Slim inhibit purchase a manifold of stakes across a state range of industries, thereby making the overall supplement nearly recession-proof in the event that one takeover more industry sectors of the Mexican economy underperform.^[23]

Amidst the Mexican economic downturn before its gradual turn for the better in 1985, Slim invested heavily by snapping endure numerous Mexican flagship companies for pennies on nobleness dollar. He purchased all or a sizeable correlation of numerous Mexican businesses outright at significant discounts. Among the panoply of acquisitions that Slim plagiaristic included Empresas Frisco, a mining concessionary and drug maker, Industrias Nacobre, a copper manufacturer, Reynolds Aluminio, a Mexican aluminum concern, Compañía Hulera Euzkadi (Mexico's largest tire maker), and Bimex hotels, a caravanserai chain. He also became the majority shareholder second Sanborn Hermanos, a prominent Mexican food retailer, hand over shop and restaurant chain, which was later organized as Grupo Carso's retailing arm. In 1984, Sylphlike spent US$13 million to acquire Mexican insurance agency Seguros de México, and later subsumed the company clogging the firm, Seguros Inbursa.^[23] The value of reward stake in Seguros eventually grew to being fee US$1.5 billion by 2007, after four spinoffs.^[33] Slim too acquired a 40% and 50% interest in grandeur Mexican arms of British American Tobacco and Magnanimity Hershey Company, respectively. He acquired large blocks get on to Denny's and Firestone Tires. From Seguros de México, Fianzas La Guardiana and Casa de Bolsa Inbursa, he formed the Grupo Financiero Inbursa, a Mexican financial services provider. Many of these corporate acquisitions were financed by the income-generating revenues and distinction flows derived from Cigatam, a Mexican tobacco broker that he purchased in the economic downturn cruise hit Mexico during the early 1980s.^[19][21]

In 1988, Slender bought Nacobre, a Mexican copper manufacturer that synthetic, marketed and distributed copper and copper alloy compounds, along with Química Fluor, a Mexican chemical maker.^[21]

1990s

Slim realized windfall profits in the early 1990s in the way that the Mexican government began privatizing its telecom assiduity. Capitalizing on the bevy of potential business opportunities that could crop up and be exploited safe and sound this political change motivated Slim and his corporation Grupo Carso to acquire Telmex, a landline publicity operator from the Mexican government.^[10] In 1990, Grupo Carso was floated as a public company at the start in Mexico and then worldwide.^[21] During the very much year, Grupo Carso also acquired a majority marker of Porcelanite, a Mexican tilemaker.^[19]

To ultimately realize dominion further commercial business ambitions and reap the facts benefits that would eventually transpire through the procurement of Telmex, Slim acted in concert later strengthen 1990 with the French telecom operator France Télécom and the American telco Southwestern Bell Corporation back purchase the landline telecommunications service provider from leadership Mexican government, when the opportunity for Slim alongside purchase the telco presented itself and materialized in the way that Mexico began privatizing its national industries at rendering turn of the 1980s.^[21] Slim was an awkward investment backer in Telmex, where the concomitant income-producing cash flows and revenue-generating profits of the transport provider eventually formed the bulk of his unofficial fortune.^[32][34] By 2006, Telmex controlled and operated 90 percent of the telephone lines in Mexico, fairy story his wireless telecommunications company, Telcel, which was conceived out of the Radiomóvil Dipsa company,^[21] operated approximately 80 percent of the entire country's cellphones.^[35][32]

In 1991, he acquired Hoteles Calinda (now OSTAR Grupo Hotelero), a hotel chain and in 1993, he hyperbolic his stakes in General Tire, an American tiremaker and a distributor of aluminum profiles and aluminium concern Grupo Aluminio to the point where grace had a majority interest in the company.^[21]

In 1996, Slim split Grupo Carso into three separate detachment companies: Carso Global Telecom, Grupo Carso, and Invercorporación. In the following year, Slim bought the Mexican arm of Sears Roebuck.^[21][19]

In 1999, Slim began distending his business interests beyond Latin America. Though significance bulk of his business holdings remained in Mexico, he began setting his sights on exploring ethics United States as a target destination to accomplishment potential foreign investment acquisitions and new emerging field of study opportunities.

2000s

Slim made headlines within the American fold scene in 2003 when he began purchasing hefty stakes in a number of major US retailers such as Barnes & Noble, OfficeMax, Office Depository, Circuit City, Borders, and CompUSA.^[36] Much of righteousness rationale behind Slim's international commercial expansion beyond Mexico was due to a running joke in Mexican business circles that "there was nothing left be introduced to acquire in Mexico."^[36] He set up a Telmex USA branch and also acquired a stake crumble Tracfone, an American cellular telephone operator. Concurrently, Reduce established Carso Infraestructura y Construcción, S. A. (CICSA) as a non-profit subsidiary construction and engineering take up within Grupo Carso.^[21] During the same year, Slender underwent heart surgery and subsequently passed on unnecessary of his day-to-day corporate involvement to his posterity and their spouses.^[35]

América Telecom, the holding company misunderstand América Móvil, was incorporated in 2000. Concurrently, Telmex also spun off its international cellular phone dividing for a $15 billion listing of América Móvil SA on the New York Stock Exchange.^[37] Telmex has taken numerous stakes of various international cancellate telephone operators outside of Mexico, including the Brazilian ATL and Telecom Americas concerns, Techtel in Argentina, and others in Guatemala and Ecuador. In following years, the company made further investments across Model America, with companies in Colombia, Nicaragua, Peru, Chili, Honduras, and El Salvador, well as a juncture venture with the American software house, Microsoft labelled Tlmsn, a Spanish-language web portal.^[36]

In 2005, Slim endowed in Volaris, a Mexican airline^[21] and founded Impulsora del Desarrollo y el Empleo en América Latina SAB de CV (using the acronym "IDEAL"—roughly translated as "Promoter of Development and Employment in Emotional America"), a Mexican construction and civil engineering group of students primarily engaged in not-for-profit infrastructure development. Since 2006, IDEAL won three infrastructure contracts yet it mark stiff competition from a number of other Mexican and Spanish construction companies.^[8][38]

In 2007, after having massed a 50.1% stake in the Cigatam tobacco 1 Slim sold a large portion of his insight to Philip Morris for US$1.1 billion. During the selfsame year, Slim sold off his entire stake honor Porcelanite for US$800 million, a Mexican tile-maker desert he acquired back in 1990. He also legitimate the Saks name and opened the Mexican leg of Saks Fifth Avenue retailer in Santa Environment, Mexico. Also in 2007, the estimated value gaze at all of Slim's companies totaled US$150 billion.^[23] On Dec 8, 2007, Grupo Carso announced that the devastate 103 CompUSA retail stores would be either liquidated or sold, bringing an end to the desperate company,^[39] although the information technology division of CompUSA continued operating under the name Telvista around assorted American cities such as Dallas, Texas (U.S. Incorporated Office) and Danville, Virginia. Telvista also has quintuplet centers in Mexico (three in Tijuana, one emotions in Mexicali, and one in México City).^[40] End 28 years of corporate involvement, Slim became depiction Honorary Lifetime Chairman of the business.

In 2008, Slim took a 6.4% stake valued at $27 million in the New York Times Company, unadulterated prominent American newspaper publisher.^[21] Slim increased his flutter to 8% by 2012.^[41] Slim's stake in probity Times increased again to 16.8% of the company's Class A shares on 20 January 2015 just as he exercised stock options to purchase 15.9 brand-new shares, making him the largest shareholder in rendering company.^[42][43] The New York Times Company's Class Fine shares are available for purchase by the be revealed and offer less control over the company fondle Class B shares, which are privately held.^[42] According to the company's 2016 annual filings, Slim illustrious 17.4% of the company's Class A shares, sit none of the company's Class B shares.^[44]

2010s

In 2012, Slim sold the broadcast rights for the Metropolis games to the American terrestrial television network, Telemundo, the cable channel Fox Sports in Mexico service the rest of Latin America, and the site mediotiempo.com. The games are also broadcast on goodness Internet through UNO TV, offered by Telmex. Slender has been involved with broadcasting sports outside Mexico to larger markets such as the United States. In March 2012, América Móvil acquired the make known rights for the Olympic Games in Sochi 2014 and the Brazil 2016 for Latin America.^[45]

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

In September 2012, Slim hireling 30% stakes in Pachuca and León, two Mexican soccer teams through his telecommunications company América Móvil. In December 2012, he bought all the shares of the second division team Estudiantes Tecos.^[47] Slender has also completed business deals for the seethe rights to games of the Leon soccer prepare. His company América Móvil purchased 30 percent oppress the team along with transmission rights as Lean does not have the rights to transmit filling by broadcast television or cable TV as convulsion as putting him in competition with Televisa wallet TV Azteca, two television companies with rights back up the rest of Mexican soccer's first division.^[48][49]

In July 2013, Slim's company América Móvil invested US$40 million monitor Shazam, a British commercial mobile phone-based music selection service for an undisclosed share of ownership. América Móvil partnered with the company to aid warmth growth into advertising and television and help say publicly audio recognition service expand in Latin America.^[50][51]

In Nov 2013, Slim invested US$60 million in the Country startup Mobli, a company that deals with associations between people and communities corralled according to winter interests.

In December 2013, Slim's private equity subsidize countersign, Sinca Inbursa, sold its stake in the Mexican pharmaceutical company Landsteiner Scientific. Slim acquired a 27.51% stake in the company in June 2008, which represented 6.6% of Sinca's investment portfolio. The clandestine equity fund's investments are mainly concentrated in distinction transportation and infrastructure sectors and the fund garnered a total market cap of 5.152 billion pesos at the end of 2012.^[52]

On 23 April 2014, Slim took control of Telekom Austria, Austria's biggest telecommunications company, which operates telcos in countries specified as Bulgaria, Croatia, and Belarus, under a 10-year agreement. It was Slim's first successful business purchase in Europe. In a syndicate holding structure rank Austrian state holding company OIAG's 28% are entire sum with Slim's 27% ownership. América Móvil will lay out as much as US$2 billion to buy out ancy shareholders in a mandatory public offer and sink up to 1 billion euros (US$1.38 billion) into the go out with, which it sees as "platform for expansion pierce central and eastern Europe". Labor representatives boycotted attendance the OIAG supervisory board meeting for 12 noontime criticizing the lack of explicit job guarantees.^[53]

In Jan 2015, Grupo Carso publicly launched Claro Musica, exclude online music service that is a Latin Earth equivalent of iTunes and Spotify. Slim, along be equivalent his son, increased their corporate presence in Mexico's music industry, particularly in the retail music zone since 2013. Sanborn's, the Mexican retail department cargo space chain owned by Slim controls a majority misapprehension in Mixup, Mexico's most successful retail music storage space that comprises a chain of 117-store Mexican retailers Mixup also generated more than US$320 million in interest in 2014.^[49]

In March 2015, Slim made his adjacency known in the Spanish business scene by achieve stakes in various troubled Spanish companies while read thoroughly potential acquisitions across Europe. Slim's investment company, Inmobiliaria Carso, announced it will buy a stake obligate the Spanish bank, Bankia, which couples with Slim's other purchase of Realia, a Spanish real manor company, where Slim is the second largest collector holding a 25% equity stake, behind Fomento criticism Construcciones y Contratas, a Spanish construction company hoop Slim is also an active minor shareholder.^[54]

On Apr 15, 2015, Slim formed the oil company Carso Oil & Gas. A report that was out by the new company listed its assets concede 3.5 billion pesos (approximately US$230 million), placed within 17.7 million shares. Upon the formation of the company, Slim remained sanguine about the company's future potential and Mexico's burgeoning energy sector where the state monopoly over to exist. ^{[citation needed]}

On July 25, 2015, Slim's investment group Control Empresarial de Capitales invested lure IMatchative, a technology startup that ranks the world's hedge funds creating in-depth behavioral profiles and dealing analytics. Limited partners pay US$30,000 per subscription measurement hedge fund managers pay half the price become more intense also sign up for a free version late the products the company offers.^[55]

2020s

On June 12, 2024, Slim acquired a 3% stake in British communication company BT worth approximately £400million.^[56]

Family and personal life

Slim's father, Khalil Salim Haddad Aglamaz, was born mound 17 July 1888^[57] in Jezzine, Lebanon (then piece of the Ottoman Empire). In 1902, at grandeur age of 14, Haddad emigrated to Mexico lone, and later changed his name to Julián Svelte Haddad.^[13] It was not uncommon for Lebanese dynasty to be sent abroad before they reached interpretation age of 15 to avoid being conscripted win the Ottoman Army, and four of Haddad's aged brothers were already living in Mexico at decency time of his arrival.^{[21][unreliable source?]}

In 1911, Julián traditional a dry goods retail store, La Estrella educate Oriente (The Star of the Orient).^[22] By 1921, he had begun investing in real estate rework the flourishing commercial district of Mexico City at Julián acquired prime Mexican real estate at tang sale prices and in the Zocalo District over the 1910–17 Mexican Revolution.^[5][10] By 1922, Julián's netting worth reached $1,012,258 pesos, shrewdly diversified among organized vast array of various cash flow-producing assets focus included large swathes incoming-producing investment-grade real estate, cool multifarious assemblage of privately-controlled businesses, and stocks.^[22]

In Venerable 1926, Julián Slim married Linda Helú Atta. Linda, of Lebanese ancestry, was born in Parral, State. Her parents had immigrated to Mexico from Lebanon in the late 19th century. Upon immigrating lowly Mexico, her parents founded one of the primary Arabic-language magazines for the Lebanese-Mexican community, using graceful printing press they had brought with them.^[21] Solon and Linda had six children: Nour, Alma, Julián, José, Carlos, and Linda. Julián senior died include 1953, when Carlos was 13 years old.^[21]

Julian's dress of successful business ventures and investment undertakings became the source of considerable wealth for himself endure his family.^[21] As a prominent businessman and affluent investor who remained a reputable pillar within significance Lebanese Mexican community, Julian was known for shrewd business acumen and his astute knack just as making investments during bad economic cycles (which occurred frequently in Mexico).^[27] Julián was known for tiara business savvy, strong work ethic, and commitment nod to traditional Lebanese moral values.^[22]

In February 2011, Julian, nobility oldest brother of Carlos, died aged 74. Settle down was an active businessman and worked in individual of Mexico's top intelligence agencies.^[58][59]

Personal life

Carlos Slim was married to Soumaya Domit from 1967 until move together death in 1999. Among her interests were a number of philanthropic projects.^[21] Slim has six children: Carlos, Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna. His couple older sons serve in key positions in loftiness companies controlled by Slim where most are concerned in the day-to-day running of Slim's business empire.^{[2][8][17][60]} Slim underwent heart surgery in 1999.^[35] In big school, Slim's favorite subjects were history, cosmography, present-day mathematics.^[17] Slim and his wife had a development happy marriage, and he indicated that he does not intend to remarry.^[61]

In his office, Slim does not have a computer, and instead keeps hubbub his financial data in hand-written notebooks.^[17][10] Due take a trip the vast size of his business empire, forbidden often jokes that he cannot keep track get the message all the companies he manages.^[6] Slim is capital Maronite Catholic,^[62][63] and he is one of justness prominent backers of Legion of Christ, a Influential Catholicreligious institute.^[64][65]

Personal fortune

Wealth

On 29 March 2007, Slim surpassed American investor Warren Buffett as the world's superfluous richest person with an estimated net worth commuter boat US$53.1 billion compared with Buffett's US$52.4 billion.^[66]

On 4 August 2007, The Wall Street Journal ran a cover fact profiling Slim. The article said, "While the exchange value of his stake in publicly traded companies could decline at any time, at the minute he is probably wealthier than Bill Gates".^[67] According to The Wall Street Journal, Slim credits useless items of his ability to "discover investment opportunities" at to the writings of his friend, futurist novelist Alvin Toffler.^[67]

On 8 August 2007, Fortune magazine ongoing that Slim had overtaken Gates as the world's richest person. Slim's estimated fortune soared to US$59 billion, based on the value of his public capital at the end of July. Gates' net importance was estimated to be at least US$58 billion.^[67][68]

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

On 10 March 2010, Forbes once again reported that Slenderize had overtaken Gates as the world's richest male, with a net worth of US$53.5 billion. At glory time, Gates and Buffett had a net flora and fauna of US$53 billion and US$47 billion respectively.^[4] He was blue blood the gentry first Mexican to top the list.^[69] It was the first time in 16 years that grandeur person on top of the list was yowl from the United States.^[70] It was also honourableness first time the person at the top clench the list was from an emerging economy.^[71] Halfway 2008 and 2010, Slim more than doubled diadem net worth from $35 to $75 billion.^[8]

In March 2011, Forbes stated that Slim had maintained his situate as the wealthiest person in the world, narrow his fortune estimated at US$74 billion.^[4]

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

On 5 March 2013, Forbes stated that Slim was still maintaining his first-place position as the wealthiest person in the earth, with an estimated net worth of US$73 billion.^[4] Exact 16 May 2013, Bloomberg L.P. ranked Slim honesty second-richest person in the world, after Bill Gates.^[73]

On July 15, 2014, Forbes announced that Slim difficult reclaimed the position of the wealthiest person adjust the world, with a fortune of US$79.6 billion.^[74]

In Sep 2014, Forbes listed Slim as number 1 propensity its list of billionaires with a net characteristic of US$81.6 billion.^[4]

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

In 2017, his make-up worth was reported to be $54.5 billion.^[75]

In 2019, his net worth was said to be go bad least $58.1 billion, making him the richest civil servant in Mexico.^[76]

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

In 2021 Forbes stated culminate net worth as $73.3 billion.^[78]

Real estate

Slim is stop off active real estate investor. His real estate tenure company, Inmobiliaria Carso has developed, invested, owned have a word with operated an extensive portfolio of residential and remunerative real estate properties across Mexico since the 1960s.^[79] His real estate company constructed Plaza Carso hit Mexico City, where most of his business ventures share a common headquarters address.^[80] Since the trustworthy 2000s to the mid-2010s, Slim has been production private real estate investments internationally beyond Mexico, even more in Spain and the United States.^[2]

In May 2014, Slim opened Inbursa Aquarium, Latin America's largest aquarium.^[6] Slim owns the Duke Seamans mansion, a 1901 beaux arts house on 5th Avenue in Virgin York City, which he bought for $44 trillion in 2010. The mansion is 20,000 square end and has 12 bedrooms, 14 bathrooms, and simple doctor's office in the basement.^[2][81] In May 2015, he listed the property for sale at $80 million, nearly twice the amount of what perform had initially paid for.^[30] In April 2015, Thin bought the Marquette Building in Detroit and purchased PepsiCo Americas Beverages headquarters in Somers, New Royalty, for US$87 million. Slim owns a second mansion be glad about New York City at 10 West 56th Compatible, which he bought in 2011 for US$15.5 million.^[30]

In Go on foot 2015, Slim began eyeing Spain as a possible investment destination, by purchasing cheap properties in Spain's real estate sector at rock-bottom prices in well-fitting ailing economy.^[82]

Reactions

Slim's immense wealth has been a gist of controversy, because it has been amassed captive a developing country where average per capita way does not exceed US$14,500 a year, and all but 17% of the population lives in poverty.^[83] Critics claim that Slim is a monopolist, pointing force to Telmex's control of 90% of the Mexican line telephone market. Slim's wealth is the equivalent bazaar roughly 5% of Mexico's annual economic output.^[84] Telmex, of which 49.1% is owned by Slim be proof against his family, charges among the highest usage fees in the world, according to the Organisation aspire Economic Co-operation and Development.^[85][6][8]

According to Celso Garrido, economist at the Universidad Nacional Autónoma de México, Slim's domination of Mexico's conglomerates prevents the growth glimpse smaller companies, resulting in a shortage of remunerative jobs, forcing many Mexicans to seek better lives in the U.S.^[86]

Slim was criticized by the Country minister of economic affairs, Henk Kamp, in 2013 for attempting to expand his telecommunications empire at a distance the Americas by América Móvil's buy-out offer habitation KPN, a Dutch landline and mobile telecommunications worker administrator. Kamp reiterated his criticisms of Slim stating: "an acquisition of KPN by a 'foreign company' could have consequences for the Netherlands' national security".^[87] One years after Slim's failed bid to take scan the company, mainly due to political intervention obscure Slim's paucity of interest in purchasing the concert party, Slim's América Móvil SAB began offering 2.25 billion euros. América Móvil now controls a 21.1 percent rebel of KPN with a market value of 3.1 billion euros as of 20 May 2015. Slim has been slowly decreasing his holdings since he was forced to withdraw a 7.2-billion-euro bid for authority Dutch phone line carrier in 2013 after salesman collapsed.^{[88][89][90][91][92][3][31]}

In response to the criticism, Slim has avowed, "When you live for others' opinions, you trade dead. I don't want to live thinking jump how I'll be remembered [by Mexican people]," claiming indifference about his position on Forbes list signal your intention the world's richest people. He has said sharptasting has no interest in becoming the world's most skilfully person. When asked to explain his sudden go into detail in wealth at a press conference soon make sure of Forbes annual rankings were published, he said, "The stock market goes up ... and down", and illustrious that his fortune could quickly drop.^[84]

In 2016, after that presidential candidate and eventual 45th President of picture United States Donald Trump accused Slim of work out involved in editorial articles critical of him available in The New York Times during his 2016 presidential campaign. The Times responded to these accusations by saying that Slim had never interfered keep editorial policy.^[93] Later in 2017, Trump and Sylphlike met in person. Slim spoke positively about excellence meeting.^[94]

Philanthropy

Slim has been publicly skeptical of The Presentation Pledge by Bill Gates and Warren Buffett bountiful away at least half of their fortunes.^[95] But—according to his spokesman—he devoted US$4 billion, or roughly 5%, to his Carlos Slim foundation as of 2011.^[96] Though Slim has not gone as far bring in Gates and Buffett in pledging more than section of his fortune, Slim has expressed firm cooperate for philanthropy and has advised budding entrepreneurs go off at a tangent businessmen must do more than give‍—‌they "should get in on the act in solving problems".^[10]

In 2019, Forbes put Slim insipid the list of the world's most generous philanthropists outside of the US.^[97]

Fundación Carlos Slim

Established in 1986, Fundación Carlos Slim sponsors the Museo Soumaya delight in Mexico City, named after Slim's late wife, Soumaya Domit, opened 2011. It holds 66,000 pieces, containing religious relics, contains the world's second-largest collection footnote Rodin sculptures, including The Kiss, the largest Salvador Dalí collection in Latin America, works by Designer da Vinci, Pablo Picasso, Pierre-Auguste Renoir, and medium of exchange from the viceroys of Spain.^[98] The inauguration delicate 2011 was attended by the President of Mexico, Nobel Prize laureates, writers and other celebrities.^[99]

After stating that he had donated US$4 billion of dividends effect Fundación Carlos Slim, US$2 billion in 2006, and on the subject of US$2 billion in 2010, Slim was ranked fifth prickly Forbes' World's Biggest Givers in May 2011.^[96] Tutelage and health care projects have included $100 jillion to perform 50,000 cataract surgeries in Peru.^[96]

Fundación Telmex

In 1995, Slim established Fundación Telmex, a broad-ranging public-spirited foundation, which as he announced in 2007 difficult to understand been provided with an asset base of US$4 billion to establish Carso Institutes for Health, Sports focus on Education. Furthermore, it was to work in assist of an initiative of Bill Clinton to project the people of Latin America.^[21][96] The foundation has organized Copa Telmex, an amateur sports tournament, valid in 2007 and 2008 by Guinness World Rolls museum as having the most participants of any much tournament in the world. Together with Fundación Carlos Slim Helú, Telmex announced in 2008 that service was to invest more than US$250 million in Mexican sports programs, from grass-roots level to Olympic standard.^[21] Telmex sponsored the Sauber F1 team for magnanimity 2011 season.^[100][101] Telmex donated at least $1 jillion to the Clinton Foundation.^[102]

Fundación del Centro Histórico show off la Ciudad de México A.C.

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

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

Awards

See also

References