Carlos Slim
Mexico
Net Worth
$92B
Source of Wealth
Telecom
Global Rank
#16 of 100
About Carlos Slim
Carlos Slim Helu is the honorary chairman of America Movil and Grupo Carso, and one of the most successful businessmen in Latin American history. Born in Mexico City to Lebanese immigrant parents, Slim demonstrated extraordinary business acumen from childhood, buying shares in a Mexican bank at age 12. Through decades of shrewd investing, he built a vast business empire spanning telecommunications, banking, construction, mining, retail, and media that has made him the wealthiest person in Latin America.
Slim's most transformative business achievement was his acquisition and transformation of Telmex, Mexico's national telephone company, when it was privatized in 1990. He modernized the aging infrastructure, expanded service dramatically, and used Telmex as a platform to build America Movil, now the largest telecommunications company in Latin America with operations in 25 countries and over 300 million mobile subscribers. His ability to see value where others saw risk, particularly during economic crises, has been the hallmark of his investment philosophy.
Known for his disciplined value investing approach and remarkable capital allocation skills, Slim has often been compared to Warren Buffett. His conglomerate Grupo Carso encompasses interests in construction, real estate, retail, mining, and hospitality. Through the Carlos Slim Foundation, he has invested billions in education, healthcare, sports, and cultural programs across Mexico and Latin America, including the Soumaya Museum — a stunning architectural landmark in Mexico City housing his extensive art collection, offered free to the public.
Key Achievements
Built Latin America's Largest Telecom
Acquired and transformed Telmex, then built America Movil into Latin America's largest telecommunications company, serving over 300 million mobile subscribers across 25 countries.
Created a Diversified Empire
Built Grupo Carso into one of Latin America's largest conglomerates with interests in construction, mining, retail, manufacturing, and real estate.
Soumaya Museum
Built the Museo Soumaya in Mexico City, a stunning free-admission museum housing over 66,000 works of art and cultural artifacts, named in memory of his late wife.
Carlos Slim Foundation
Created one of Latin America's largest philanthropic organizations, investing billions in education, health, employment, economic development, and cultural programs across the region.
Notable Quotes
“When there is a crisis, that's when some are interested in getting out and that's when we are interested in getting in.”
— Carlos Slim
“Courage taught me no matter how bad a crisis gets, any sound investment will eventually pay off.”
— Carlos Slim
“I always say that the best investment is not in a company that is doing well, but in a company that will do well in the future.”
— Carlos Slim
Key Decisions
Founded Grupo Carso as an investment vehicle, beginning to acquire undervalued companies during periods of economic uncertainty in Mexico.
Acquired Telmex when the Mexican government privatized it, securing the national telephone monopoly and the foundation for his telecommunications empire.
Spun off America Movil from Telmex to focus on mobile telecommunications across Latin America, building it into the region's dominant carrier.
Invested $250 million in The New York Times Company during the financial crisis, providing crucial support and earning a substantial return as the company recovered.
Opened the Museo Soumaya, a spectacular free museum in Mexico City, donating his personal art collection and creating a cultural treasure for the people of Mexico.
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