Carlos Slim – The Richest Man You Never Knew

25 Mar

Carlos Slim

Ray: According to several publications, Carlos Slim is either the richest or 2nd richest person in the world. When you’re worth about $60 Billion Dollars, does it really matter at that point? What does matter though, is how a 68 year-old guy who was born and raised in Mexico (thanks Charlie) was able to amass such a significant fortune in a nation that most investors know little about.

Carlos Slim may have studied engineering at the University Nacional Autonoma de Mexico, but the true wealth of knowledge is based on his understanding of economics. In fact, it is his ability to find and purchase undervalued companies that allowed him to generate billions of dollars when those troubled companies became profitable.

Although Carlos Slim primarily invests in telecommunications, he is also a big player in the Mexican insurance industry. A man of discipline and frugality, Carlos Slim is less concerned with the material affects that most would attribute to a Billionaire. Instead, his focus remains on perfecting his craft and helping his children develop the ability to master economic principals.

Carlos Slim is definitely a person that I recommend everyone does a little research on. His investment strategies are some of the best the world has ever known. Although a financial leader in Latin America, he has captured the admiration from investors all over the world.

Check out this short video clip for more about Carlos Slim:

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3 Responses to “Carlos Slim – The Richest Man You Never Knew”

  1. Charlie March 25, 2008 at 11:41 pm #

    Quick correction Carlos slim was born in Mexico, his father was born in Lebanon and raised in Mexico.

    Carlos Slim is obviously a smart business man who knows how to make lots of money, and I personally feel somewhat proud that the richest man in the world is Latino, however he operates in a country filled with monopolies (many of which he owns or is involved in) and corrupt politicians. When the Mexican government decided to privatize the telephone company, he purchased it and has since held a monopoly on
    telecommunications in the country. Its easy to make money
    when you have no competition.

    It is also shameful when one man is responsible for 8% of
    Mexico’s GDP, while millions of Mexicans live in REAL poverty, and millions more come into the United States every year hoping for a better life.

    There’s more I would like to say about Mr. Slim, but I’m at
    work and out of time.

    Before I go though I want to congratulate Seth and Ray on the blog. Although this is my first time commenting, I do check in from time to time and there have been many interesting posts. Keep up the good work.

  2. Jeff June 5, 2008 at 6:24 am #

    Monopolies are not bad all of the time. Often their large size is able to generate the economies of scale that smaller companies are unable to enjoy. They are then able to pass down some of these cost savings to consumers. In addition, their supernormal profit causes them to be better able to survive during a recession which is significant since less workers would get laid off.

    It would most certainly be welcome if Carlos would do more to help the poor through his billions as Bill gates have done. However he doesn’t have to feel ashamed for not doing anything direct now. After all his companies are already providing jobs for millions for poor Mexicans and he may feel that he will focus on philanthropic activities later on in life when he has made enough and has sufficient resources, like Warren Buffet has done. It isn’t entirely reasonable to demand that he starts focusing on it now. Shouldn’t a man have the freedom to decide the path his life will take?

    • JM April 29, 2015 at 12:25 pm #

      What incentive does a monopoly have to pass down savings to consumers? None!!!

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