carlos slim net worth

The Mexican businessman, investor, and philanthropist Carlos Slim Hel (born January 28, 1940) is known professionally as Carlos Slim Sánchez. Slim held the title of the world’s richest man from 2010 to 2013, according to Forbes.

The vast majority of his wealth was acquired from Grupo Carso, his Mexican conglomerate, which owned substantial stakes in a large number of Mexican businesses.

Childhood

In 1940, Carlos Slim Helu was born in Mexico City, and he is better known as Slim. They were Maronite Christians from Lebanon: Julian Slim Haddad’s parents, Khalil Salim Haddad Aglamaz and Linda Helu Atta.

As a child, he learned about business from his father, who taught him about money, management, and accounting, among other things. Additionally, his father provided him with practical knowledge, such as how to decipher financial accounts and keep meticulous accounting records.

Compound interest was first introduced to Slim when he was eleven years old when he bought a government savings bond. At the age of twelve, he bought his first shares, and by the time he was fifteen, he was a stakeholder in Mexico’s largest bank.

With his father’s company as an 18-year-old, he earned $200 per week. When he graduated from the National Autonomous University of Mexico, he went on to pursue a career in civil engineering.

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Career

Following his completion of university, Slim began his career as a stock trader in Mexico. Inversora Bursatil, a stock brokerage he founded with $400,000 in private investment earnings, opened its doors in 1965.

Carlos Slim Net Worth

With the purchase of Jarritos del Sur., in 1965, he laid the groundwork for the multinational Grupo Carso. It was estimated at $40 million at the time that he formed Inmobiliaria Carso, which he started in 1966.

With his concentration on expanding into many areas, such as auto parts aluminum airplanes chemicals tobacco paper and packaging tires retailing, and hotels he continued to grow his firm. For the most part, he concentrated on acquiring enterprises in the construction and manufacturing industries.

For $1 million, he purchased a 60 percent stake in cigarette label maker Galas de Mexico by 1976, after purchasing seven similar enterprises by 1972. When he founded Grupo Galas, he brought together all of these businesses.

Mexican economic collapse between 1982-1985 allowed Slim to spend significantly and purchase up huge stakes in many enterprises.

He used the approach of buying at an undervalued price and later selling his stake for a profit or merely holding onto the stake for cash flow in the meantime. Corporacion Industria Cardo and Grupo Inbursa combined in 1990 to form Grupo Carso, one of the largest conglomerates in Latin America.

After Mexico’s telecom business was privatized in the early 1990s, Grupo Carso acquired Telmex from the Mexican government, and he made a significant profit.

In the early 2000s, Slim began amassing big holdings in several major American shops, including OfficeMax, Circuit City, and Barnes & Noble.

Additionally, he invested $27 million in the New York Times Company after the financial crisis of 2008, raising his holding from 6.4% to 8.2% by 2012, and again to 16.8% of the company’s Class A shares by 2015. He now owns a majority stake in the business.

Mexican and Latin American telecommunications are heavily influenced by Slim. TelCel, America Movil, and Telefonos De Mexico are all under his control. In 2014, he purchased the Austrian telecommunications company, Telekom Austria, expanding his telecommunications empire into the European Union.

The last several years have also seen him make a number of technology investments. A Latin American alternative to services like iTunes and Spotify, Grupo Carso launched Claro Musica in January 2015 as a Latin American competitor.

Besides investing $40 million in Shazam, America Movil also invested in the British mobile phone-based music recognition business.

Real estate holding business Inmobiliaria Carso, owned by Carlos Slim, has approximately 20 shopping centers, 10 of which are located in the Mexican capital. Many residential and commercial properties are also owned by the company.

Furthermore, Slim’s construction-finance firm, which includes toll roads, hydroelectric dams, and water treatment plants in its portfolio, is expanding its real estate investments by taking on the management of Mexican prisons, which it began doing at the beginning of 2013 as part of an effort to increase its investment portfolio.

Net Worth

carlos slim net worth

With a net worth of $71.6 billion in May 2022, Bloomberg Billionaires Index rated him 13th in the world and the richest person in Latin America.

Life at Home

Soumaya Domit was Slim’s wife from 1967 till 1999. Carlos, Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna were the couple’s six children. Since his wife’s death, he has not remarried.

Slim’s three oldest sons are all involved in the day-to-day administration of the family’s business empire, serving in high-level roles in the companies Slim owns.

Transportation via Aircraft and Road Vehicles

Mercedes 4×4 and Chevy Suburban are Carlos Slim’s preferred modes of transportation when he has to get around Mexico City’s traffic.

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He also has a powerful luxury automobile, the Bentley Continental Flying Spur, which is a very uncommon model.

The Telmex helicopter is a regular mode of transportation for Slim, despite his aversion to private jets.