BILLIONAIRE SUCCESS STORY : Carlos Slim Helu - Investments

Born: January 28, 1940, Mexico
Age: 68
Country Of Citizenship: Mexico
Residence: Mexico City , Mexico, Latin America
Occupation: Chief Executive Officer
Net Worth: $59.0 billion
Fortune: Self made
Source: Telecom
Industry: Communications
Marital Status: Widowed, 6 children


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Sarcastic Mexicans jokingly use the phrase: "Can you live one day without Slim?" The answer is probably no.Carlos Slim Helú the richest man on the planet. Forbes magazine has calculated his worth at around 59 billion dollars and he is the principal owner of more than 200 companies, stretching from South America to the United States.

Forbes Magazine has calculated his worth at around $59 billion, all of which comes from his 200 companies stretching from South America to the United States.

In Mexico, almost everything seems related to Carlos Slim. If you buy a car, a house, health insurance, a cup of coffee, or just use your cell phone, you are probably interacting with his business empire.So how did this first generation Mexican, son of Lebanese immigrants, supplant Bill Gates, the legendary founder of Microsoft, in this list of kings, as the most affluent of the super rich?The question is even more significant when you realize that Helú was born 67 years ago in a country where there is so much socioeconomic inequality and poverty, and yet made most of this incredible fortune inside his native Mexico.

Slim started at the age of eight when his father asked him to help with the family store "The Orient Star" in downtown Mexico City. He later graduated from college with a degree in civil engineering and inherited some real estate from his parents.By then Slim Helú was showing his talent and passion to "make money." One of his first companies was Grupo Carso, a holding company which grew to include department stores, restaurants, real estate, chemical engineering, tobacco, telecommunications, Internet... almost everything!But Slim had bigger dreams. He made significant investments in Inbursa (stock exchange transactions, banking, pension funds), and then in diverse and renowned businesses such as Nacobre (Cooper production), Hoteles Calinda (tourism), Grupo Condumex (from electrical and telecommunications conductors, power generators and transformers, to automotive parts as well as electronic components), Cigatam (tobacco), and Sanborns - a very popular super-department store chain that includes clothing, household electronics, gift shops, restaurants, personal care shops, music and books all under one roof.

Slim became a "big fish" when he won the bid for the privatization of the state monopoly Teléfonos de Mexico (TELMEX) , the largest telecommunications business in Mexico, controlling 90 per cent of the land lines and with capital of more than $20 billion.Slim gained more "momentum" during the presidency of Jose Lopez Portillo (1976-1982), who nationalized the Mexican banks. At that time, many Mexican businessmen thought Mexico would nationalize important companies and so they sought to sell their holdings before they lost control. Slim took advantage of this and bought Seguros de Mexico, Mexico's largest insurer, for just $44 million, much less that its real value. Today the company is worth billions.In a recent interview with The Wall Street Journal, Slim said that "his success comes from spotting opportunities," but in addition to this, Slim knows very well how "putting together monopolies" can make real money. Other companies under the Slim umbrella are Telnor ,Prodigy, Telcel, America Movil Latin America, Saks Fifth Avenue, Sears Mexico, Compusa and Volaris .

Slim was born comparatively well-off in a mostly poor country, and he had the intelligence and desire to multiply his inheritance into an incredible fortune.But what is the man like in his personal life? Carlos Slim likes to read self-improvement books, suffers from insomnia, and during those sleepless nights is known to read about technology, even though he doesn't use computers or cell phones.He enjoys hosting celebrities at his mansion in Mexico City, serving gourmet dishes and expensive wines. When he travels, his entire family goes with him and he asks to close entire hotels just for him and his "dearest."

He likes art so much and has such an impressive collection, that he opened the Soumaya Art Museum in honor of his wife, who died in 1999 from a kidney disease.Single women looking for a rich husband, pay attention: Slim is single and dating, but is in a steady relationship with a Mexican woman. However, one of his three sons, is single too! But if you want to get involved with the Slim fortune, be prepared to deal with his sons, grandchildren and the entire family, all of whom are waiting for their big "piece of pie."Meanwhile, most of the population of Mexico continues to live in poverty. According to The Wall Street Journal "Mr. Slim has made about $27 million a day while a fifth of Mexico gets by on less than two dollars per day." So, we ask again: "Can Mexico live without Slim?" or is it "can Slim live without Mexico?"

References
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Wikiquote
Carlos Slim Helú
Carlos Slim Helú Official Website
Image slideshow of Carlos slim
America Movil Corporate Site
Telcel In The USA
The World's Richest People: Slim's Chance
Forbes Billionaires List
Telmex Corporate Site
TelNor Corporate Site
Top Business Entrepreneurs Carlos Slim Helu Profile
Latin Business Chronicle
Third-richest man to give away part of fortune