The Mexican business magnate Carlos Slim Hel has made a fortune out of his many business ventures. Forbes magazine ranked Slim as the world’s richest man from 2010 to 2013, largely because of his holdings in various companies. His conglomerate is referred to as Grupo Carso. In addition to owning multiple companies, Slim also has several charitable foundations. The following are just a few of the things you need to know about this business magnate.
Carlos Slim Helu
Carlos Slim Helu was born in Mexico City on January 28, 1940. His parents were Lebanese Christians who emigrated to the United States from Lebanon. His father, Julian Slim Haddad, amassed his fortune in real estate. His mother, a Maronite Christian, was raised in a family that stressed the value of family and education. Carlos Slim Helu later became the first ever billionaire.
In the 1990s, Helu retired from his role as a board member at SBC Communications to devote his time to his IDEAL project, focusing on infrastructure and health in Latin America. He also served as the vice chairman of the Mexican Stock Exchange and the Mexican Association of Brokerage Firms. Carlos Slim Helu is also the first Latin American Chairman of the Board of Directors of the New York Stock Exchange. Carlos Slim Helu has six children with his wife Soumaya Domit de Slim.
Carlos Slim Helu’s humanitarian achievements have earned him the Red Cross Badge of Honor and Merit. In 2010 alone, he donated $70 million to research into human genomes. In addition to these generous donations, Slim Helu’s foundation established the Instituto Mexicano de Medicina Genomica, which is part of his Fundacion Telmex. The Fundacion Telmex also funds 240,000 scholarships for university students in Mexico.
In addition to his business success, Slim is one of the richest people in Mexico. According to Bloomberg’s Billionaire Index, Slim’s net worth is $43.6 billion and could even top $51 billion. He also flies under the radar by living in the same six-bedroom house he has owned for 40 years. But while he may be the richest man in the world, his fortune has taken a beating in recent years. After the election of Donald Trump, global markets contracted, and Carlos Slim lost 9% of his wealth.
His father gave him a 5-peso allowance
His parents were not wealthy, but they managed to provide an education for their son, Carlos Slim. As a child, Carlos Slim received a five-peso allowance every Sunday from his father, who also required him to keep a ledger. As a young man, Carlos Slim studied mathematics and algebra at UNAM in Mexico City. He later taught algebra at the university. His father gave Carlos a five-peso allowance every Sunday and he used this money to build a business.
As a boy, Carlos Slim’s father gave him a five-peso allowance every Sunday. His father required him to write down all of his childhood purchases in a savings book. The two would sit down to review and analyze the ledger, discussing their purchases, activities, income, and expenses. His father taught him to understand the importance of financial management, and his son followed his lead.
Carlos Slim has made many contributions to society, and has even been honored by former U.S. President Bill Clinton. He has personally helped over 165,000 youngsters go to college. In fact, he has been the recipient of several awards for his charitable work. As a member of the board of directors of the Global Business Coalition for Education, he has a seat on the Board of Directors for Alcatel, Philip Morris International, and SBC Communications. As a result of his contributions, Carlos Slim has been named a Commander in the Belgian Order of Leopold II. In recognition of his outstanding contributions, Carlos Slim has donated dividends and shares of his stock.
As a young man, Carlos Slim began making investments as early as 1965. At the age of 25, he had already accumulated $40000 and began opening his own brokerage firm, Inversora Bursatil, which allowed him to buy many Mexican companies at low valuations. Some of his most important purchases during this period included General Tire, Cigatam, Sanborns, and Reynolds Aluminum.
His business empire spans multiple industries
Mexico’s Carlos Slim has built a vast business empire spanning multiple industries. His companies are involved in everything from telecoms to infrastructure and banking to retail. Many of his companies are controlled by his sons. His telecoms interests include America Movil, which serves more than 150 million customers in 11 different countries. Slim also owns a majority stake in Telmex, which he fought to take control of when it became nationalized.
As a young man, Carlos Slim was a civil engineer who spent his spare time on his hobbies. Despite his humble beginnings, he grew his empire through acquisitions and unbeatable market share. By 2007, his group of companies was worth $150 billion. In 2010, he was the world’s richest man, according to Forbes magazine. And today, Carlos Slim’s business empire is so large, it spans multiple industries, including real estate, automotive parts, and financial services.
Apart from America Movil, Carlos Slim also owns the country’s largest telecom network, Telmex. The latter was once a monopoly, similar to AT&T Inc. in the United States. Carlos Slim bought a majority stake in Telmex in the 1980s, transforming it into a highly profitable business. In 1990, Carlos Slim became the leader of the Mexican business elite after he bought the majority stake in Mexico’s national fixed-line telephone company, Telmex, during privatisation.
While Carlos Slim’s business empire spans multiple sectors, he also spends much of his fortune on philanthropic efforts. He established the Fundacion Telmex, one of the largest philanthropic organizations in Latin America. His funds help promote health and nutrition, while offering university scholarships to thousands of deserving students. With such an enormous wealth, it is no wonder that Carlos Slim is one of the most respected leaders in his industry.
His charitable foundations
While the vast majority of the charities supported by the Carlos Slim Foundation do not involve the entrepreneur himself, his involvement in Mexico’s public health system does. The foundation funds several initiatives aimed at improving the quality of life for the poor. In the process, it provides both human and financial resources. The foundation aims to improve the quality of life for everyone, and its work has significantly improved the lives of people around the world.
The Carlos Slim Foundation aims to improve education, health, and sports in Mexico. Its recent efforts include a tie-up with the Bangladesh-based Bangaldeshi Grameen Bank, founded by Muhammad Yunus. The two entities launched a microcredit programme in Mexico. The two leaders have also established three non-profit foundations, one focusing on arts and education and the other on health care. While the latter two have diverse aims, they all support the same causes.
One of the most visible projects of the Carlos Slim Foundation is the building of a museum in Mexico City housing a $100 million collection of art. The other initiatives funded by the foundations include programs to improve broadband access for students, and research into the genetic factors responsible for diseases like diabetes and cancer. Carlos Slim has also partnered with Bill Gates twice since 2010, donating $25 million to a new bioscience research lab. In addition to that, he has partnered with scientists to improve crop yields among poor farmers.
The other foundation established by Carlos Slim is the Carlos Helu Foundation. This foundation supports healthcare programs, environmental initiatives, and wildlife conservation. In 2011, the foundation gave out nearly $50 million. Its goals include improving public health and fighting poverty, and protecting the environment. By supporting these causes, Carlos Slim’s charitable foundations can help millions of people improve their quality of life and increase their opportunities. Once again, we have to recognize the great contribution that Carlos Slim has made to society.
His criticism of Donald J Trump
Mexican billionaire Carlos Slim has come under fire for criticizing Trump, citing several issues. The Trump campaign has been plagued by claims that Slim is behind the recent surge of women coming forward to accuse Trump of sexual assault. Slim is a major shareholder of the New York Times and a generous contributor to the Clinton Foundation. While Slim’s political ambitions are unlikely to make him the next president, he has been criticized for his comments on immigration.
But the Mexican billionaire has thrown out the pessimistic narrative about Trump and his “Make America Great Again” campaign promises. Trump has criticized Mexico’s response to the 1985 earthquake, but Slim lauded the Mexican people for their “national unity” in the face of adversity. He argued that Mexico is the most effective partner for the United States. The Mexican people responded to the disaster with an increased appetite for American goods and services.
Despite his harsh criticisms, Slim has not completely shut his mouth about his criticism of Donald Trump. The Mexican businessman has been critical of Trump’s open border policy and his trade deals with other countries, despite the fact that he benefits from them. The president-elect has also promised to erect a wall along the southern border. As a result, this criticism has fueled his campaign.
In the end, it seems that Trump is trying to reconcile with the billionaire, and it is not a good sign for his image. But, he seems to be taking a step in the right direction in his criticism. While he’s not a Twitter user, Slim’s criticisms of Trump are part of the bigger picture. And Trump’s comments on Slim show the tight circle of billionaires.