Carlos Slim Helú was born on January 28, , in Mexico City, Mexico, to parents of Lebanese descent. He was one of six children, and his. Carlos Slim Helu Biography – Carlos Slim Helu is the wealthiest person in the world. The Mexican business tycoon has a net worth of $73 billion as of March. Carlos Slim Helú is an entrepreneur and businessperson who founded Teléfonos de México SAB de CV, Grupo Financiero Inbursa SAB de CV and Inversora.
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His conglomerate includes education, health care, industrial manufacturing, transportation, real estate, media, energy, hospitality, entertainment, high-technology, retail, sports and financial services. Slim always knew he wanted to be a businessman and began to develop his business and investment acumen at a young age.
At the age of 11, Carlos invested in a government savings bond that taught him about the concept of compound interest. He eventually saved every financial and business transaction he made into a personal ledger book which he keeps to this day.
Though Slim was a civil engineering major, he also displayed an interest in economics. He took economics courses in Chile once he finished his engineering degree. After graduating from college inSlim began his career as a stock trader in Mexico, often working hour days. Companies in the construction, soft drink, printing, real estate, bottling and mining industries were the focus of Slim’s early burgeoning business career. Inthe Mexican economy contracted rapidly.
As many banks were struggling and foreign investors were cutting back on investing and scurrying, Slim began investing heavily and bought many flagship companies at depressed valuations. Having a keen investment eye for valueSlim adhered to his value investment practices with a long history of buying stakes in companies he sees as undervalued. Slim also doesn’t address the finer details of the business but instead focuses on business fundamentals where his strategy is buy an asset at an undervalued price for its underlying cash flow and eventually sell his stake for greater profit when the asset gains value, or simply hang to the business for its cash flow.
From the mid s to the early s, Slim and his growing family lived a modest life, while earnings from Slim’s many businesses were re-invested in expansion and more acquisitions. Slim acquired companies with strong returns on capital he believed were undervalued and overhauled their management. He diversified methodically in numerous industry sectors across the Mexican economy, investing in real estate, then a construction equipment company, and mining companies.
Biography of Carlos Slim – Assignment Point
The portfolio of Slim companies grew to include a printing company, a tobacco company and retail stores. During the Mexican economic downturn before its recovery inSlim invested heavily.
Many of these acquisitions were financed by the revenues and cash flows from Cigatam, a tobacco business which he bought early in the economic downturn. Slim made a large fortune in the early s when Mexico privatized its telecom industry and Grupo Carso acquired Telmex from the Mexican government.
This investment was assigned to an associated company, but in Grupo Carso began growing its equity stake to 83 percent and subsequently biobraphy it a subsidiary. InGrupo Carso was split into three companies: In the following year, Slim bought the Mexican arm of Sears Roebuck. InSlim began expanding his business interests beyond Carrlos America. Though the bulk of his holdings still remained in Mexico, he began setting his sights towards the United States for overseas investments.
SinceIDEAL won three infrastructure contracts yet it faces stiff competition from a number of other Mexican and Spanish construction companies. The number of contracts is fewer than its biggest local competitor, Empresas ICA. Biogrraphy has also planned to purchase several toll roads offered by the Mexican government that it took over from private companies following the December currency devaluation.
Included in the development, IDEAL will also collect rent from biogralhy university, a hospital and a school that will be built around a mall, will have stores, including Inditex’s Zara fashion chain and Slim’s Grupo Sanborns and the Mexican unit of Sears Holdings.
A park in Nezahualcoyotl, the ccarlos of its kind will also be constructed. The park will comprise 34 soccer fields, 12 tennis, basketball and volleyball courts, a baseball field and a gym with a swimming pool. Inafter having amassed a Corporate Office and Danville, Virginia. In Slim took a 6. Slim built Plaza Carso in Mexico City, where most of his ventures share a common headquarters address.
In Slim sold the broadcast rights for the Leon games to Telemundo in the United States, and the cable channel Fox Sports in Mexico and the rest of Latin America and to the website mediotiempo. Slim has been involved with broadcasting sports outside Mexico to larger markets such as the United States.
In Decemberhe bought all the shares of the second division team Estudiantes Tecos.
His company America Movil purchased 30 percent of the team along with transmission rights as Slim doesn’t have the rights to transmit content by broadcast television or cable Slin as well as putting him bigoraphy competition with Televisa and TV Azteca, two television companies with rights to the rest of Mexican soccer’s first division. In April Slim entered the business of managing Mexican prisons to expand the investments of his construction-finance company.
The company run by his son, Marco Antonio Slim, added the prisons to its biograhpy of infrastructure assets among which include toll roads, hydroelectric dams, and water-treatment plants. America Movil partnered with the company to aid its growth into advertising and television and help the audio recognition service expand in Hrlu America. Slim had acquired a The private equity fund’s investments are mainly in transportation and infrastructure and the fund had a car,os market cap of 5.
Slim has also set his sights within the energy industry as well. The rig is owned by Operadora Cicsa, a subsidiary of Carso Group. Biogfaphy the Pemex Law reform, the creation of integrated service contracts and the perspectives for a future energy reform, Slim has begun seizing business and investment opportunities in Mexico’s oil and gas industry. Slim controls a 15 percent stake in Bronco, with warrants that could boost the stake to 20 percent. He also has a 2.
On April 23,Slim took control of Telekom AustriaAustria’s biggest phone carrier, which has telcos in countries such as Bulgaria, Croatia and Belarus, under a year agreement, was Slim’s first successful business acquisition in Europe. In a syndicate holding structure the Austrian state holding company OIAG’s 28 percent are combined with Slim’s 27 percent ownership.
Labor representatives boycotted attending the OIAG supervisory board meeting for 12 hours criticizing lack of explicit job guarantees. In Carlo Slim invested in WellAware, a Texas-based oil and gas software developer, this investment was also made with former Republican vice president Dick Cheney. External funding was provided by Activant Capital Group and Slim, along with participation from strategic investors and WellAware board members Ed Whitacre.
Carlos Slim Biography – Childhood, Life Achievements & Timeline
When Mexico eventually prepared to open its oil and gas sectors to domestic and foreign private capital for the first time in 75 years, it has been widely speculated that Slim will play a major role toward contributing to Mexico’s new energy landscape. Slim’s investment in WellAware, whose software allows oil and gas companies to track wells and pipelines remotely and collates data for making forecasts, adds to a number of oil-related investments that he has been making in the past years in Mexico, Latin America and the United States.
Slim and his son increased their presence in Mexico’s music industry, particularly in the retail music industry since Sanborn’s, the Mexican retail department store chain owned by Slim contains an extensive music section and locations in Mexico as well as controlling a majority stake in Mixup, Mexico’s most successful retail music store that comprises a chain store Mexican retailers along with an online iShop through a selling partnership with Apple.
In March Slim began to set his sights on Spain, purchasing Spanish real estate at rock-bottom prices within the ailing Spanish economy.
Slim has also been buying up stakes in various troubled Spanish corporations while eyeing various investments carlod Europe. A report that was released by the new company listed its assets at 3. Upon formation of the company, Slim remained sanguine about the company and Mexico’s burgeoning energy sector where the state monopoly ceased to exist once held by state-owned oil company Pemex and opening the sector for private investors.
On July 25,Slim’s investment group Control Empresarial dlim Capitales invested in IMatchative, a technology startup that ranks the world’s hedge funds creating in-depth behavioral profiles and business analytics. The company creates proprietary behavioral profiles of the top hedge fund managers using everything from divorce records to political donations incorporated in their profiles and fund analysis.
On September 8,one of Slim’s companies announced that Philosophy Jr. Studio, a fashion line for young women, will expand into a hel retailer chain that will compete with elite fashion retailers across the globe.
Although the style of the new fashion line and the number of yearly collections has not been made public, Philosophy Jr. Catlos fashion line will be offered at individual brick and mortar boutiques soim two shopping malls in Mexico City. The brand was established in and spim been sold at Sears Mexico, a unit of Grupo Sanborns, the restaurant, retail, and pharmacy chain owned by Slim.
Linda was born in Parral, Chihuahuaof Lebanese parents who had immigrated to Mexico in niography late 19th century. Upon immigrating to Mexico, her parents had founded one of the first Arabic-language magazines for the Lebanese-Mexican community, using a printing press they had brought with them. Julian’s business ventures became the source of considerable wealth for himself and his family. In FebruaryJulian, the oldest brother of Carlos, died aged He was a businessman, and worked in one of Mexico’s top intelligence agencies.
Carlos Slim was married to Soumaya Domit from until her death in Among her interests were various philanthropic projects, including the creation of a legal framework for organ donation.
Slim’s fortune has given rise to a family business empire and he often acquires shares on behalf of himself and his children. His three older sons serve in key positions in the companies controlled by Slim elim most are involved in the day-to-day running of Slim’s business empire. In his office, Slim does not keep a computer and instead caroos to hwlu all his financial data in hand-written notebooks.
The article said, “While the market value of his stake in publicly traded companies could decline at any time, at the moment he is probably wealthier than Bill Gates “. On August 8,Fortune magazine reported that Slim had overtaken Gates as the world’s richest person. Slim’s real estate holding company Inmobiliaria Carso develops, invests, owns and operates many residential and commercial properties across Mexico. The company owns over 20 shopping centers, including ten giography Mexico City, and operates stores in the country under U.
Slim has been making private real estate investments around the world, particularly in the United States. He controls approximately 8 acres of prime Beverly Hills real estate at the corner of Wilshire and Santa Monica Boulevards.
The mansion is 20, square feet and has 12 bedrooms, 14 bathrooms, and a doctor’s darlos in the basement. Slim owns a second mansion in New York City at 10 W. Slim founded three nonprofit calros concentrating on Mexico City: Furthermore, it was to work in support of an initiative of Bill Clinton to aid the people of Latin America. Mexico City Historic Center Foundation to revitalize and rescue Mexico City’s historic downtown area to enable more people to live, work and find entertainment there.
Inhe, along with the president spim Mexico, Mexico City mayor, and Mexico City archbishop, inaugurated the first phase of Plaza Mariana close to Basilica de Guadalupe.
In response to the criticism, Slim has stated, “When you live for others’ opinions, you are dead. I don’t want to live thinking about how I’ll be remembered [by Mexican people],” claiming indifference about his position on Forbes list of the world’s richest people.
He has said he has no interest in becoming the world’s richest person. When asked to explain his sudden increase in wealth at a press conference soon after Forbes annual rankings were published, he said, “The stock market goes up America Movil now controls a Slim has been slowly decreasing his holdings since he was forced to withdraw a 7.
From Wikipedia, the free encyclopedia. This is the latest accepted revisionreviewed on 19 December For his son, see Carlos Slim Domit.