Carlos Slim Net Worth

Carlos Slim Helú Net Worth

Real Name: Carlos Slim Helú
Date of Birth: 01/28/2014
Place of Birth: Mexico City, Mexico

2019 Net Worth: $79.6 Billion
2018 Earnings: -$3 Billion

Profession: Businessperson, Entrepreneur

Carlos Slim Biography

Carlos Slim Helú was born on January 28, 1940 in Mexico City to parents of Lebanese descent. His father, Julian Slim Haddad had emigrated to Mexico from Lebanon in 1902. At the time it was common for boys to be sent abroad from Lebanon to avoid being conscripted in the Ottoman Army. Slim’s mother, Linda Helú Atta, was born in Mexico to Lebanese parents.

Julian Slim Haddad was a businessman and entrepreneur and amassed considerable wealth from his dry goods store and real estate interests in Mexico City. He taught his six children, including Carlos Slim, good business practices.

Slim made his first investment at the age of 12 when he bought shares in a Mexican bank.

He studied civil engineering at the National Autonomous University of Mexico, Mexico’s most esteemed and exclusive public university. After graduating from college he founded his first business, a brokerage firm that expanded to invest in a range of individual businesses in diverse industries such as real estate, construction, manufacturing, retail, and restaurants.

In 1965 when he incorporated Inversora Búrsatil the company was worth $40 million.

The Mexican economy crashed in 1982 and national banks collapsed with the complete devaluation of the Mexican peso. In the years following the crash Slim invested heavily, buying real estate and  businesses at rock-bottom prices.

In 1990 Slim worked with France Telecom and Southwestern Bell Corporation to buy the landline company Telmex. He also acquired Radiomovil Dipsa, a cell phone company, and renamed it Telcel. By 1990, 90% of landlines in Mexico were operated by Telmex and 60% of cell phones by Telcel.

In 2007 Slim surpassed Warren Buffet as the world’s richest person with a net worth of $53.1 billion.

In 2011 Slim was still the world’s wealthiest person, now with a net worth of $74 billion.

Slim has faced heavy criticism because he has monopolistic control over the Mexican telecom industry and his fortune was made in a developing country where 17% of the country lives in poverty. To date, Slim has only given away about 5%, or $4 billion, of his net worth to his charity. In comparison, Bill Gates and Warren Buffet have pledged to give away 50% of their wealth to charity.

Today his net worth is $79.6 billion and he is #2 on the Forbes list of World’s Richest People.

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