Bloomberg Billionaires Index

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# 13 Carlos Slim $57.7B

Random fact: Invested during the Mexican recession of the early 1980s.

Overview

Slim controls America Movil, the largest mobile-phone operator in Latin America. He has holdings in banking and mining, as well as stakes in publicly traded companies, including the New York Times and Caixabank. Through the family vehicle Grupo Carso, he also has interests in the Mexican construction industry.

As of :
Last change +$3.99M ( +0.0%)
YTD change +$2.97B ( +5.4%)
Industry Diversified
Biggest asset AMXL MM Equity
Citizenship Mexico
Age 79
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Carlos Slim's net worth of $57.7B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Slim's fortune is derived from a handful of publicly traded companies. His most valuable asset is a majority shareholding in America Movil, the biggest mobile-phone operator in Latin America, followed by his stakes in holding company Grupo Carso and banking and insurance firm Grupo Financiero Inbursa. He has stakes in more than a half dozen other public companies, many of which pay dividends.

Filings with the Securities and Exchange Commission show Slim has transferred some of these stakes to his six children: sons Carlos, Patrick and Marco Antonio Slim Domit, and daughters Soumaya, Vanessa and Johanna. The shares are held directly or through Mexico City-based holding company Inversora Carso and its subsidiaries. All assets are credited to Slim because he is the patriarch of the family fortune.

The valuation excludes shares held by the family's charitable foundations, Fundacion Telmex, Fundacion Carlos Slim and Instituto Carlos Slim de la Salud. The foundations own 581 million L shares of America Movil, according to a Schedule 13D filed with the SEC on Sept. 1, 2016, and 604 million shares of Impulsora de Desarrollo, according to a family spokesman.

The Slim family owns part of its interest in certain companies through publicly traded Inbursa and its subsidiaries. These stakes, including about 1 billion L shares of America Movil and 8 million New York Times class A shares reported in 2016 SEC filings, are excluded from the sharecounts used in this analysis.

The billionaire confirmed a plan in December 2017 to sell nearly half his New York Times shares in 2020. The shares remain credited to him because he still controls their voting rights and receives dividends.

Slim has collected nearly $10 billion in dividends from his investments, according to data compiled by Bloomberg. The value of his cash investments is based on an analysis of insider transactions, real estate purchases, market performance, investments, charitable giving and taxes.

Biography

Birthdate: 1/28/1940
Family: Widowed, 6 children
Education: Universidad Nacional Autonoma de Mexico

Born to a Lebanese immigrant, Carlos Slim Helu received a civil engineering degree at the National Autonomous University of Mexico School of Engineering in 1961. At age 25, he started construction company Inmobiliaria Carso, and he invested during the Mexican debt crisis of the 1980s, buying interests in tobacco, copper and mining. He also bought the restaurant and retail chain Sanborn Hermanos. In the 1990s, he took control of Telmex, the state-owned telephone company, and Grupo Condumex, a manufacturer of wire and fiber-optic cable.

A decade later, he began acquiring mobile phone operations throughout Latin America under the banner of American Movil, which he merged with Telmex in 2011. He has given more than $3 billion to his charitable foundation. He's a baseball fan and a supporter of educational causes.

Milestones
  • 1940 Carlos Slim Helu is born in Mexico City.
  • 1961 Graduates from Universidad Nacional Autonoma de Mexico.
  • 1965 Creates Inversora Bursatil after acquiring bottler Jarritos del Sur.
  • 1966 Founds Inmobiliaria Carso. Renames in Inversora Carso in 2016.
  • 1967 Marries Soumaya Domit (d. 1999). They have six children.
  • 1986 Starts Fundacion Carlos Slim Helu philanthropic group.
  • 1990 Grupo Carso begins trading on the Bolsa exchange in Mexico.
  • 1990 Buys Telmex from the Mexican government.
  • 1994 Establishes Museo Soumaya to house his personal art collection.
  • 2008 Takes 6.4 percent ownership of the New York Times.