Carlos Slim, the richest man in the world

The son of a Mexico City shopkeeper has built a staggering $59 billion fortune. Fortune's Stephanie Mehta tells the inside story of how he made it to the top.

By Stephanie N. Mehta, Fortune senior writer
August 6 2007: 2:53 PM EDT

- I remember there was a time when the value of his enterprises was very low," recalls Patrick, the youngest son of Carlos Slim Helú. It was the early 1980s, and Mexico was in the depths of a massive financial crisis. Periodically the elder Slim would round up his three teenage sons for an economics lesson. Sitting them down in the living room of the family home, Slim would produce a single handwritten list. One line would show, for instance, how a Mexican insurance company was selling for far less than a similar American insurer. Another would show that compared with European candy or cigarette makers, Mexican manufacturers were drastically undervalued. "It was a very, very long time ago," says Patrick, "but I absolutely remember him teaching us at an early age."....
~~~

.....By our calculations, the 67-year-old Slim has amassed a $59 billion fortune, based on the value of his public holdings at the end of July. This number puts him just ahead of perennial No. 1, Microsoft founder Bill Gates, whose net worth is estimated to be at least $58 billion. But Gates is selling off his single greatest source of wealth, Microsoft stock, to fund his foundation, while Slim's fortune is growing at a stunning clip. His net worth jumped $12 billion this year alone. His family's holdings represent more than 5% of Mexico's 2006 gross domestic product, and Slim-controlled companies make up one-third of the $422 billion Mexican Bolsa, or stock exchange


http://money.cnn.com/2007/08/03/news/international/carlosslim.fortune/index.htm

~~~

.....By our calculations, the 67-year-old Slim has amassed a $59 billion fortune, based on the value of his public holdings at the end of July. This number puts him just ahead of perennial No. 1, Microsoft founder Bill Gates, whose net worth is estimated to be at least $58 billion. But Gates is selling off his single greatest source of wealth, Microsoft stock, to fund his foundation, while Slim's fortune is growing at a stunning clip. His net worth jumped $12 billion this year alone. His family's holdings represent more than 5% of Mexico's 2006 gross domestic product, and Slim-controlled companies make up one-third of the $422 billion Mexican Bolsa, or stock exchange


http://money.cnn.com/2007/08/03/news/international/carlosslim.fortune/index.htm

~~~


Behind every great fortune there is a crime.
Honore de Balzac-French realist novelist (1799 - 1850)


Hmmmmm..

Behind every great fortune there is a crime.
Honore de Balzac-French realist novelist (1799 - 1850)


Hmmmmm..

all the time......

Behind every great fortune there is a crime.
Honore de Balzac-French realist novelist (1799 - 1850)
Hmmmmm..

Usually it is more like, willing to take a risk, hard work, a bit of luck and not being a whiner!

all the time......



But with a $59 billion check book at ones disposal it will be almost impossible to pinpoint the crime let alone prosecute the villain if there is a crime!

Usually it is more like, willing to take a risk, hard work, a bit of luck and not being a whiner!

"But Whyyyyyyyyyyyyyyyyyyyyy da' gubment can't help me get ahead? Why? Why? My MP 'ein never been around ta take down my complaint! If only I could get a scholarship/contract/fill in the blank."

:D









Dude probably did do a shady deal or two though...

"But Whyyyyyyyyyyyyyyyyyyyyy da' gubment can't help me get ahead? Why? Why? My MP 'ein never been around ta take down my complaint! If only I could get a scholarship/contract/fill in the blank."
:D
Dude probably did do a shady deal or two though...

Could be. But dont we all do a "shady deal" from time to time? Perhaps not on the billion $ scale.

"But Whyyyyyyyyyyyyyyyyyyyyy da' gubment can't help me get ahead? Why? Why? My MP 'ein never been around ta take down my complaint! If only I could get a scholarship/contract/fill in the blank."

:D


Dude probably did do a shady deal or two though...



LOL!

Could be. But dont we all do a "shady deal" from time to time? Perhaps not on the billion $ scale.



True...

But with a $59 billion check book at ones disposal it will be almost impossible to pinpoint the crime let alone prosecute the villain if there is a crime!

NO BUDDY IF THE US WANT TO GET YOU THEY WILL GET YOU MOJNEY & ALL.

NO BUDDY IF THE US WANT TO GET YOU THEY WILL GET YOU MOJNEY & ALL.



Then where is Osama Bin Laden? or all those on the FBIs Most Wanted List?