Why the Wealthiest & Most powerful Men on earth are Mexican-Americans or Mexican Illuminati ?
Latin America's richest man added more than $6 billion to his fortune this year. He sold off his stakes in MCI and Altria and used the proceeds to up his holding in Saks Inc; in his fixed line operator, Telmex; and in America Movil, his flagship wireless telecom outfit. The latest was a particularly smart move as America Movil's stock has almost doubled in the past year.
He also owns 71% of a new public company, Impulsora del Desarollo Economico de America Latina, which he spun off from financial services giant Grupo Financiero Inbursa. Inbursa also invested in a start-up budget airline called Volaris. An art collector, Slim houses his Rodin sculptures in Mexico City's Museo Soumaya, the museum he funded and named after his late wife. His Grupo Carso is reportedly a combination of his first name and his late wife's.
Slim, the son of Lebanese immigrants, began buying businesses in Mexico as the government started selling companies in need of financing after its 1982 debt default. In 1990, he teamed up with Southwestern Bell Corp. and France Telecom SA to buy state-owned Telmex, which now has a market capitalization of more than $20 billion.
Carlos Slim Helú (born January 28 , 1940 in Mexico City ) is Latin America 's richest man (and #3 in the world) according to Forbes . His wealth comes from his businesses in the communications industry, Teléfonos de México and América Móvil telecommunication companies.
His father was Julián Slim Haddad ( Yusef Salim Haddad ), a Lebanese Maronite Christian, who as a teenager fled to Mexico in 1902 , escaping the harsh military rule of the Ottoman Turks . His father and two of his older brothers arrived at the Mexican port of Tampico , making their way to Mexico City where, in 1911 , Julian established a dry goods store called La Estrella del Oriente and took a gamble and bought up some prime real estate in the city core-a shrewd move as it turned out.
'That was courage,' says Slim Helu, 'He taught me no matter how bad a crisis gets, Mexico isn't going to disappear, and that if I have confidence in the country, any sound investment will eventually pay off.'
Slim Haddad married Linda Helu, daughter of another prosperous Lebanese merchant, and had six children. Carlos Slim Helu was the fifth of the six children. Carlos credits his father as his mentor in business, retailing and finance. Julian Slim Haddad died in 1952 , leaving his family a moderately prosperous economic base from which Carlos launched his successful financial career.
Slim has six children and lives in Mexico City. He is an engineer by profession, graduated from the Universidad Nacional Autónoma de México (UNAM) (National Autonomous University of Mexico) in 1961, where before graduating he taught Algebra and Linear Programming . He has given lectures in public and private institutions, and also in international bodies such as the Economic Commission for Latin America (ECLA).
He has been vice-president of the Mexican Stock Exchange and President of the Mexican Association of Brokerage Houses . He was the first President of the Latin-American Committee of the New York Stock Exchange Administration Council , and was in office from 1996 through 1998 . He is a director at the Board of Directors of the Philip Morris Companies and Alcatel , as well as for SBC Communications , a position from which he retired in July 2004 to devote more time to the Latin American Development Fund , focusing on infrastructure , health and education , amongst the most relevant work. He later built an important Mexican financial-industrial empires, Grupo Carso , that owns, among other companies the COMPUSA electronic retail chain. After 28 years he became the Honorary Lifetime Chairman of the business. He also holds this position in TELMEX, América Móvil and Grupo Financiero Inbursa. Slim opposes free trade and free market prescriptions for developing Latin economies. Though he maintains an actively involvement in his companies, his three sons Carlos, Marco Antonio and Patrick Slim Domit head them.
Slim bought Telmex during then-president Carlos Salinas 's privatization spree. Mexicans complain that after the transfer, telephone prices went up dramatically but without any comparable change in service quality, although this situation was largely rectified with the subsequent opening up of the long-distance market to other competing providers. Many critics suspect that Slim's purchase of Telmex was corrupt, as were many of Salinas's privatizations.
Slim has been awarded the Entrepreneurial Merit Medal of Honor from Mexico's Chamber of Commerce ; he received the " Golden Plate Award ", granted by the American Academy of Achievement and the Government of Belgium awarded him the Leopold II Commander Medal
- Anonymous1 decade agoFavorite Answer
Dude, why is the Best Mexico has to offer, Lebanese Ancestry, Slim letting 12-30 million of Mexico's cream of the crop sneak into USA??
How come he doesn't try to improve his country so they're not all trying to escape it?
- SixmarieLv 44 years ago
Most Mexican corporations are successful. In fact the copper minery industry in Arizona is owned by Mexicans. The first Sheriff in Arizona was a Mexican. and according to the U.S main stream media: The Mexican drug cartels control many cities in USA and many countries in Latin American and the Caribbean. Also, according to the same U.S main stream media, Mexican immigrants are taking all jobs! probably the next U.S President will be a Mexican gringo!
- 1 decade ago
And still he doesn't come close to the shadow of Bill Gates. . .
I don't get what your point is. I mean, they have a blog section if you would like to print an essay. But there is nothing here to answer.
Personally, I don't care who has what money. And I care less about what nationality he is. If he is here legally, then the point is wasted on this one.
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- 1 decade ago
Because Mexico is the chosen nation by St Mary of Guadalupe mother of JesusChrist.
That's why Pope John II was the first Pope to visit a foreign country outside the Vatican in Rome, and He chose Mexico.
He visited Mexico 5 times.
Mexico is a sacred land.
since centuries and millenniums ago...
MEXICO is Awesome!
- 4 years ago
It is hard to even picture that a book can assist individuals to change their fates however } countless males and ladies, people that they have benefitted in a big
- Anonymous3 years ago
That's a good question!
- Anonymous1 decade ago
Lebanese parents, once again not much of a mexican heritage is it. Have any examples of rich mexicans not born to first generation foreign immigrants?
- Anonymous1 decade ago
After 13 years as the world's richest person, Bill Gates appears to have been dethroned. But there will probably be no sobbing inside his Medina estate.
In fact, based on his past remarks, the Microsoft Corp. chairman might welcome the news.
Mexican telecommunications tycoon Carlos Slim has taken the crown with a net worth of $67.8 billion, according to estimates by a respected financial news site in Mexico, as reported by multiple news services.
The main reason: a 27 percent surge in the stock price of Slim's wireless company, America Movil, in the second quarter.
At a Microsoft conference in Redmond last year, advertising executive and TV host Donny Deutsch asked Gates if he would be upset if someday he were no longer the world's richest man.
"I wish I wasn't," Gates replied. "There's nothing good that comes out of that."
"It's better than being second," Deutsch said.
"No," Gates replied. "You get more visibility as a result of it."
Slim's new standing might not be considered official until the next publication of Forbes' ranking of the world's richest people.
The riches men in the world are Mexicans!
On this spring's Forbes list, Slim was just behind investor Warren Buffett, the chief executive of Berkshire Hathaway, who had been second on the list for years.
In April, after the publication of the official 2007 list, Forbes reported that Slim had surpassed Buffett to become the world's second-richest man. At the time, Forbes reported that Slim was "breathtakingly close" to passing Gates for the No. 1 spot. Gates' estimated worth was $56 billion at the time.
For the latest estimate of Slim's worth, Reuters quoted financial tracker Eduardo Garcia, from Sentido Comun, an online financial publication in Mexico. Garcia estimates that Gates is currently worth $59.2 billion.
According to an Associated Press report from Mexico City, Garcia's estimate of Gates' wealth was based on a 5.7 percent increase in Microsoft shares in the second quarter, and doesn't include Gates' sizable holdings apart from Microsoft shares.
"But a 26 percent growth rate for a world company like America Movil, that's hard to top for one quarter," Garcia said, according to the AP report.
Gates has put a total of more than $30 billion into the Bill & Melinda Gates Foundation, reducing his personal net worth. Slim recently told The New York Times that he plans to boost the endowments of his companies' foundations to $10 billion in the next four years, from the current total of $4 billion.
Slim, meanwhile, seems just about as interested in holding the "world's richest" title as Gates was. The AP quoted Slim's spokesman as saying, "As he has said many times himself, he is not in any competition."
- Anonymous1 decade ago
While he may be Mexican by birth, he is Lebanese by heritage. So celebrate away.