Carlos Slim Net Worth $73 Billion
Carlos Slim Helu is certainly a man of means. Ranked the world’s richest man from 2010 to 2013, the Mexican business guru has made a name for himself in the field of telecommunications, technology, retail and finance.
Born in 1940 to Julian Slim Haddad and Linda Helu, Slim and his siblings grew up learning the ropes in the business field from their father. He made his first investment when he bought shares in a Mexican bank when he was only 12. He obtained a degree in Civil Engineering at the National Autonomous University of Mexico and then started working as a trader in order to sharpen his business skills.
Slim went on to start his own brokerage company that later started investing in individual business enterprises. He bought Jarritos del Sur and incorporated Inversora Bursatil in 1965. At the time, he was worth $40 million.
In 1966, he founded Immobilaria Carso, which invested in companies in real estate, construction and mining. In 1976, he bought interests in a printing company. He later consolidated his interests in 1980 when he formed Grupo Galas. He capitalized on the Mexican economic crisis in the early 80s by buying heavily into several Mexican businesses financed by cash from Cigatam, which he bought during the beginning of the crisis.
Grupo Carso was listed as a public company, first in Mexico and later worldwide. Slim, together with France Telecom and Southwestern Bell Corporation, bought the telephone company Telmex from the Mexican government. Telmex later became a dominant mobile operator in Mexico, and his mobile telecommunications firm Telcel had almost 80% of the country’s cell phones under its belt.
At the turn of the century, he started expanding his business empire out of Latin America. He started Telmex USA as well as acquiring a stake in Tracfone USA. His company, America Telecom, bought stakes in several telephone companies around Latin and South America.
Apart from telecommunication, Slim has also invested in the Volaris airline and has also established the not-for-profit organization Impulsora del Desarrollo y el Empleo en America Latina SAB de CV which deals with infrastructure development. The Mexican philanthropist seems to have made a number of good business decisions as he is worth an impressive $73 billion.