Carlos Slim

On March 10, 2010 it was announced that Mexican multi-billionaire Carlos Slim has become number 1 in the Forbes Rich List.http://www.forbes.com/2010/03/10/worlds-richest-people-slim-gates-buffett-billionaires-2010_land.html?boxes=Homepagetopnews Slim increased his fortune by $18.5bn in the year to a new estimated wealth of $53.5bn http://news.bbc.co.uk/1/hi/business/8560731.stm Slim is slightly ahead of Bill Gates who has a $53bn fortune. US Investor Warren Buffet ranks third with an estimated wealth of $43bn.

Slim's family run empire controls more than 200 companies, with particular interest in infrastructure, banking, retail and telecommunications. http://news.bbc.co.uk/1/hi/business/8560812.stm Slim controls three telecommunication companies: Telefonos de Mexico (Telmex), Telcel and America Movil. At this point he no longer runs the day-to-day operations, leaving the responsibility to his three sons. Slim also owns the holding group company Grupo Carso and Inbursa Financial Group.

Slim made a lot of money early in his career through stock market investments. During the Latin American economic crash of the early 1980's Slim earned a reputation of making money for himself even in a market downturn. Slim bought a number of companies very cheaply and then turned their fortunes around after the recession.

Slim has made many astute stock market investment decisions. Slim bought 3% of Apple stocks for $17, as of March, 2010 they were valued at $225. http://www.google.co.uk/finance?client=ob&q=NASDAQ:AAPL On September 10, 2008 Slim bought a 6.4% share of the New York Times and is hoping for a similar turnaround there to previous ventures.http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ape3VwiTsOrg Slim increased the stake to 16.3% of the New York Times on February 12, 2010.http://boingboing.net/2010/02/12/mexican-billionaire.html

Here is the historic timeline for Carlos Slim:

• 1940 - Born on January 28 in Mexico City, Mexico
• 1961 - Studies at National Autonomous University of Mexico UNAM, Takes studies in civil engineering
• 1965 - Carlos Slim incorporates Inversora Bursátil and becomes its first chairman
• 1966 - Carlos Slim marries Soumaya Domit Gemayel
• 1967 Founds and leads both Promotora del Hogar (Real Estate, S.A and GM Maquinaria Construction Equipment
• 1968 - Acquires and leads Mina el Volcán SSG Inmobiliaria, S.A.
• 1969 - Starts three new Mexican companies - Bienes Raíces Mexicanos, S.A., Nacional de Arrendamientos, and Invest Mentor Mexicana.
• 1972 - Founds and leads Pedregales del Sur, S.A.
• 1976 - Acquires 60% of and turns around fortunes of Galas de México
• 1980 - Holding Company, Grupo Carso formed, main interests are mining, retail, tobacco, industrial, food and construction
• 1982 - In an economic downturn, Slim invests in Reynolds Aluminio, Sanborns and General Tire
• 1984 - Slim acquires Bimex, S.A., Hulera El Centenario Firestone and 40% of British American Tobacco, and 33% of Anderson Clayton. Slim also buys Seguros de México, now called Seguros Inbursa. Slim creates Grupo Financiero Inbursa, this is a consolidation of Seguros de México, Fianzas La Guardiana and Casa de Bolsa Inbursa.
• 1985 - The following are acquired - Sanborns, Dennys, Fábricas de Papel Loreto y Peña Pobre, Pamosa and also a 50% stake in Hersheys and Artes Gráficas Unidas.
• 1986 - Slim acquires Empresas Nacobre, Minera Frisco and Química Fluor, and increases the Euzkadi stake. Fundación Carlos Slim Helú, A.C is founded, this is a Philanthropic charity supporting various good Mexican causes
• 1990 - Grupo Carso goes public with an Initial Public Offering. The company acquires Telmex in a joint deal with Southwestern Bell and France Telecom. Subsequently Carso Global Telecom, the holding company for Telmex, is created. The brand Telcel is also created
• 1991 - Acquires Hoteles Calinda (this is now branded OSTAR Grupo Hotelero).