Carlos Slim Helu

Being CEO of Telmex, América Móvil, Samsung Mexico and Grupo Carso

Being the world's richest person from 2010 to 2013

Net worth: US$51.2 billion (February 2017)

Carlos Slim Helú, one of the wealthiest people in the world, was born on January 28, 1940, in Mexico City to a family of Lebanese Christian immigrants. He became a billionaire after the economic crash of 1982 when he purchased investments at low prices that would later be extremely valuable. In 2000, he founded the Foundation for the Historic Centre of Mexico City to restore and save significant buildings.

Slim’s Success Story

Slim became a billionaire during the 1982 currency devaluation and economic crisis in Mexico by investing aggressively and buying entire companies that would soon recover. He was 42 at the time.

Slim’s next big opportunity came in 1990 when the Mexican government sold off its monopoly telephone company, Telmex. Slim’s Grupo Carso pounced on the opportunity. (For more, see: Is It the End of the Mexican Telecom Monopoly?)

Soon after the purchase, Slim took an interest in Telmex’ cellular service. By offering prepaid phones, the company’s customer base exploded, growing by 66% every year for the next 15 years. The cellular business, América Movil, with its TracFone brand, has expanded around the world. Altogether, telecommunications accounts for roughly two-thirds of Slim’s staggering wealth. However, América Movil has weathered some new challenges recently as a result of new Mexican legislation aimed directly at breaking up the company’s monopoly.

Awards

• Entrepreneurial Merit Medal of Honor in 1985 from Mexico's Chamber of Commerce.
• "Gold Patron" of the American Academy of Achievement,
• Commander in the Belgian Order of Leopold II
• CEO of the year in 2003 by Latin Trade magazine
• CEO of the decade in 2004 by Latin Trade magazine
• Fundacion Telmex received in 2007 the National Sports Prize of Mexico for sports promotion
• In 2008 his philanthropy was recognised with the award of The National Order of the Cedar by the Lebanese government.
• In 2011 the Hispanic Society of America awarded Fundacion Carlos Slim the Sorolla Medal for its contribution to the arts and culture.
• On May 20, 2012. Slim was awarded a Honorary Doctorate in Public Service from George Washington University.