Carlos Slim Helú is a Mexican business magnate, investor and philanthropist. At times, he has been considered one of the richest people in the world, expanding his investments throughout the United States, Latin America and Europe over the years. His life story proves that it is important to start your success as soon as you can. Let’s take a look at his career over the years, starting with his net worth!
Carlos Slim Helú Net Worth As Of 2019: $72 Billion
Carlos Slim Helú’s net worth is estimated to be around $72 billion. Let’s take a look at his life over the years to see just how he came so far!
The Early Years
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Born in Mexico City, Slim is the son of Maronite Catholics from Lebanon. Gaining a fondness for business at a young age, learning different faculties of finance from his father. At the young age of 11, Slim invested in a government savings bond, which taught him about the concept of compound interest. At the age of 12, he purchased shares in a Mexican bank, which was his first stock purchase. At the age of 15, he already became a shareholder in Mexico’s largest bank; within two years, while works for his father’s company, he earned around 200 pesos a week. He went on the study civil engineering at the National Autonomous University of Mexico, where he also taught. After graduating, he started his career as a stock trader in Mexico. In 1965, he bought Jarritos del Sur; the following year saw his found Inmobiliaria Carso.
1970-1979
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With the start of the 1970’s, Slim’s focus turned towards companies in construction, soft drink, printing, real estate, bottling and mining industries; he later expanded into auto parts, aluminium, airlines, chemicals, tobacco, manufacturing of cables and wires, paper and packaging, copper and mineral extraction, tires, cement, retail, hotels, beverage distributors, telecommunications and financial services. By 1972, he acquired many companies reflecting these interests.
1980-1989
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By the next decade, he gained interest in cigarette production, acquiring shares in Galas de México and Cigarros la Tabacelera Mexicana. With the 80’s seeing Mexican banks struggling and foreign investments cutting back, Slim still invested heavily in numerous Mexican businesses with special focus on mining and chemical companies. He also sought interest in Mexican branches of foreign companies, such as British American Tobacco and The Hershey Company.
1990-1999
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With another new decade, Slim saw a new investment when Mexico privatized its telecom industry and he later bought the landline telephone company Telmex, which was originally owned by the Mexican government; becoming one of Telmex’s initial investors, the company soon became the main part of Slim’s wealth. By 2006, 90% of Mexican telephone lines were being operated by Telmex. In 1991, he acquired Hoteles Calinda; by 1996, Grupo Carso was split into three companies: Carso Global Telecom, Grupo Carso, and Invercorporación. In 1997, he also purchased the Mexican branch of Sears Roebuck. Towards the end of the decade, he expanded his business interests outside of the country, looking towards the United States.
2000-2009
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With the start of the new millennium, American companies Slim invested in included Barnes & Noble, OfficeMax, Office Depot, Circuit City, Borders and CompUSA. During this time, he also set up Telmex USA. Around this time, Slim began to develop interests in ventures throughout Latin American companies, including Colombia, Nicaragua, Peru, Chile, Honduras and El Salvador. In 2007, Slim sold a large portion of his equity to Philip Morris; the following year, he also placed his stake in the New York Times Company. Towards the end of the decade, he also built Plaza Caros in Mexico City.
2010-Present
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In 2012, Slim sold the broadcast rights for the Leon games to Telemundo in the United States and the cable channel Fox Sports in Mexico. That same year, he also established Ora TV, an on-demand digital television network, with Larry King. He also purchased stakes in two Mexican soccer teams, Pachuca and León. The following year, Grupo Carso opened Mexico City’s Telcel Theater. Gaining interest in the energy industry, he also bought a stake in Geoprocesados SA’s Tabasco Oil Company. In 2014, he also branched out to Europe, by taking control of Telekom Austria, Austria’s biggest phone carrier, which has connections in Bulgaria, Croatia and Belarus. Continuing his interest in American companies, he also invested in the Texas-based oil company WellAware, continuing his interest in the energy industry.
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2019
Mexico’s Carlos Slim Helu and family with a net worth of $68.7 billion becomes the 7th richest person according to Forbes.
