Mexican businessman Carlos Slim Helú is believed to be the richest man in the world. As chairman of Teléfonos de Mexico, better known as Telmex (NYSE: TMX) and América Móvil (NYSE: AMX), Slim has substantial influence over the telecommunications industry in Mexico, and much of Latin America as well.
The past year has been good to Slim. In the spring, with an estimated net worth of $53.1 billion, he overtook investing guru Warren Buffett as the world's second richest person. By the end of the summer, Fortune reported that Slim's net worth had grown to $59 billion, allowing him to overtake Microsoft founder Bill Gates as the world's wealthiest person.
Carlos Slim's personal wealth grew by $12 billion during the year, and he also controls a $150 billion business empire. His family's holdings represented more than 5% of Mexico's 2006 gross domestic product, and Slim-controlled companies made up one-third of the $422 billion Mexican stock exchange.
With his political connections and business savvy, Slim has managed to fend off accusations of monopolistic business practices for years, but the hammer may finally be about to fall. A probe of Carlos Slim's empire by Mexican antitrust regulators is scheduled to ramp up in the new year. Will 2008 see his empire crumble?
Perhaps not. It's been announced that Telmex will spin off its international operations, perhaps a move to avoid being called a monopoly. The move mimics the 2000 spinoff of Telmex's mobile phone business, which went on to become América Móvil, and now has a market value three times that of Telmex.
Perhaps 2008 will see the net worth world's richest man continue to grow.
Be sure to check out more Money Winners of 2007.











Reader Comments (Page 1 of 1)
2-07-2008 @ 10:04AM
Rick said...
KK,I can,t help agreeing with you,the truth is the truth,I do understand that Bill Clinton lied under oath,about what? do we really think its our business about our Presidents sex life!I don,t believe there is enough room on this computer to list Bush,s & mainely Chaney who has been telling Bush what to do.Chaney knows enough on the Bush family to send even Bush,s Great Grandfater to Jail,Moved Halliburton to Dubi,Monopoly on companies, Lies come on people look around,Oil will be 150 a barrel at the end of 08,or higher,Them China people are throwing bikes away,that means what?Oh, yep i am voting for Clinton!OPEC is the Oil Shortest,third world countries runing USA,I worked 4 years in Nigerian Oil Fields,You have to see to believe it!
2-28-2008 @ 4:45AM
Azeem Parkar said...
Dear Sir or Miss !
I have very big Money problem For my Education i pass D.A.E In CIVIL Engineer And I Need More Education But I have No Money.And i have No job.Please Sir Or Miss send Me Money than i continue My Education.
12-14-2007 @ 11:03AM
K.K said...
I'll probably end up on the CIA's watch list for speaking only my opinion! LOL.... But That's how this country opporates. So with that said here I go! :O)
Does this surprise any one of us? Mexico's billionair Mr. Slim ( no Pun intended) is part of the very elite and large "family" which is a fraction of the Mexican population. They OWN and control all the of what makes Mexico exist. There is no Stock holder's in Mexico. ( family excluded ) The only external stock holder's may be the oil tycoons that are from the US and abroad. Lets be reminded that Mexico is the THIRD RICHEST OIL PRODUCING NATION IN THE WORLD. No, The Mexican people have no shares in that either. There will be no investigation into Mr. Slim Jims fortune or anyother investments that he may be involved.. Not by this country anyway. This would blow the whistle on to many AMERICAN PRIVATE VESTER'S.
It's no wonder the US wants to play nice and not upset the apple cart when it comes to the illigal alien issue. Ask your selves why do we not afford any other nation the same courtesy? why are we making special provisions for the illigals comimg from Mexico? Why not Iran? Why not Iraq? Not all the population in these countries are terrorist. Why not any country? Just open the flood gates!!
Nobody want to hear part of the truth. In My opinion you can get an illegal Mexican to work for half of what it would cost to pay an American. Does that make American's lazy? No! It means that Big business in our own country would rather get away with being able to pay the lower wage then deport! That's more money in their pocket book. Not mine and yours.
We olny see the money coming out of our pocket books to pay for all the additional taxes that it cost to support illegals in this country. The big corperations are not paying for it.
Most Leagal AMERICAN ae not lazy people. They just want a decent wage to work. Our Goverment is turning into a Country run just like Mexico if you really think about it? How many things do you see that say MADE IN AMERICA? Hardley anything right? That's because we can get slave labor contracts over sea's. Cina ring a bell? Made in Mexico? Ring a bell? Think about it.
We as Americans need to stop complaining about every little thing ( basically because we are spoiled) and start demanding that our own GOVERMENT (Democrat or Republican) step up to the plate and take responsability for the near disasterous state we are in.
In closing, I would suggest that our OWN GOVERMENT (1)TAKE A PAY CUT. (2) REVISISE THEIR GOLDEN GOOSE RETIREMENT PACKAGES And start focusing on getting out of debt to all these third world countries. We are owned by the Chineese goverment right now. This Country is bankrupt! We have barrowed and borrowed "Basically have sold our Good old American soles away" These are things we never think about because all of us are so wrapped up in our daily lives that we haven't taken the time to get involved. Someone needs to be policeing our own goverment!! I don't think they have your's or my families best interest at heart! I'm no radical by anymean's~ But I do pay attention! Scary thought isn't it? Just take one full week, follow World news, read the Wallstreet Journal,Listen to the Pre - Election debates! Hopefully then some people will wake up and Demand that This Country start working/ thinking of us again rather then themselves and thier best interest. We need to regain some respect from our goverment, not to mention the respect of other Countries.
No wonder we are spending billions of tax payer's dollars all over the World. EVERYWHERE BUT IN OUR OWN BACK YARD! I feel especially sorry for the baby boomer's. Wait till you go to collect your social security....... Guess what, there is no money there right now!
I guess I kinda got off the subject, but the point is folks we are no better then Mr. Slim from Mexico!
We have been being treated like mushrooms, we hear ONLY what our Goverment wants us to know and we believe that they would never sell us down the river. (This isn't politically correct any longer) But GOD help us all....... :O) That's another whole topic! LOL........ The word God is written all over are money, in and on every single superior court building???? No, I'm not a holly roller, nor an aythist. just a Very concerned American Citezen.
I feel sorry for my Grand Children.
12-14-2007 @ 1:57PM
www.cellonedirect.com said...
preach on
12-14-2007 @ 12:10PM
ronald said...
a mexican the richest man in the world!How much does one need while his country burdens the rest of the world with its poverty.
12-14-2007 @ 1:42PM
Linda Uhlenhoff said...
God bless KK,she said so eloquently what ninety percent of Americans feel.
12-14-2007 @ 1:50PM
johnpineelas said...
hi i live in tampa bay area florida . and i don/t care if home land security or that jerk bush wants to take action against me or not for speaking out. hes a trator to this country and the congress and the senate don/t have the guts to impeach him. he came into office as president with a national surplus . now this country is almost 2 trillion dollars in debt. thanks to his war in irag which we should never have gone into. he lied and gets away with it. if this was you or i we./d be in jail now. justs shows the rich can get away with anything. we need representives in congress and the senate who can stand up for the people of this country and not the repblican or demorcrat e partys. john
12-20-2007 @ 9:03AM
marjory whittle said...
I am a 71 year old widow and i think its a shame and crime for so few people to have so much and so many in this world haven't even enough to eat. I have been poor all my life, but I try helping to feed others in need and open my small 2 bedroom apartment to who needs a place to stay. many times I give all I have to surport my church. I pray that these rich people will open their hearts and wallets and begin helping more poor people. Just remember, its a lot easier for a camel to fit through the eye of a needle than for a rich man to enter into heaven
12-21-2007 @ 12:02PM
mfigley1 said...
God Bless you Marjory!!!!!!!!!!
12-20-2007 @ 10:46AM
Vickie said...
This big business deal is making it so hard for the middle class to survive.Pretty soon we will be poverty level,which will be just about retirement age.When my husband started the job he desided would be the job he retires at,thing's were great but now twelve year's later it's not so great.
All the time being a stay at home mother we both thought was best....But now that the children are older I have felt that we in a way have hurt our financial future.There is no way out of finacial setback's for the middle class these day's unless you have perfect credit. All the help just put's people in a worse place.And that's how the split will end up making only upper class and poverty level family's in the U.S. It's no longer all of one and one for all, it's now all for the rich and a cardcoard box for anyone else comming up for retirement in the next ten year's.Just my little take on the deal.....O'yea speaking of deal's.....lol
I have tried getting on game show's for some extra cash but if you do not have a video camara and a printer then you cant even apply. How is that for keeping the rich''rich and the poor''poor. Sorry kinda got off the subject.Some thing's just rub me the wrong way.It's time that these highest paid people in the world walk a mile in the rest of our shoe's ;~)
12-27-2007 @ 7:52AM
Belinda said...
We all have a story to tell and opinions that seem valid enough. So I won't bore you with mine. I just want to say to KK, "Have you ever thought of hosting a radio talk show?". Also, to Marjory Whittle, you are one of the richest people in this world. Much richer than any who have so much but don't share it. Keep on serving.
12-27-2007 @ 12:09PM
JP said...
First off, USA is still the greatest place on earth, and you'd know that you ever left your couch. this is the only place on earth that you can come from nothing and be super successful by working hard, I know first hand. Second, this country was built on immigrant labor just like everyone else's families before. By the way, mexicans don't work for any less than anyone else, that's fact (they are just the ones that will actually work)and that's fine because our children have educations and do other work, not manuel. Mexicans in the next generation will be business men, they already are. Third, rich people go to heaven also, Jesus said to work hard and make a difference. These stupid comments about rich men not getting into heaven is what lazy poor people (who have had all the same oppurtunities as anyone else) say to make themselves feel better about being the drag on our communities. Unless your a child, elderly or sick don't ask anyone for anything, everything you get you got to work hard for it. Stop complaining the world is hard if you make it.
12-29-2007 @ 10:50PM
= said...
nice
1-08-2008 @ 2:40PM
Kay Em said...
I agree with JP. Our country isn't perfect by any means, but we should still be thankful to have been born in a place of such privilege and opportunity that we don't feel the need to escape it in order to survive or succeed. And it really is absurd to imply that all rich people are bad and all poor people are good. Every gender, religion, ethnicity, tax bracket, age, country, etc., etc. has it's shares of good & bad. It just gets a lot more headlines when the enviable fall from grace than when it happens to those who would be considered less fortunate - so that's what you get fed by the media and giving some of you such a skewed perspective.
I was once told that I shouldn't feel so guilty about having the things I have worked hard to gain. I do what I can to help those in need, but have to remember that I can't help anybody much if I'm in need myself. So just cuz our boy, Slim, here has made himself a little bit of a fortune in a country filled with so many in need, doesn't mean he isn't doing anything to try and change things. If anything, the man is an inspiration to current and future Mexican business people who may soon play a part in helping turn things around for a country that seems to have lost hope.
But hey, let's talk about some of the big bad fat cats that really are making a mess of things... The Immigration Reform and Control Act of 1986 imposed penalties on employers who knowingly hired undocumented workers here in the states. Well, the darned thing worked way too well for the fat cats' liking as it was starting to effect their own companies, investments and pocket books so the funding to enforce it was cut and therefore failed. So yeah, everybody wants foreigners to stop "taking our jobs," but nobody wants to pay more for products and services that would cost more to be produced by well paid Americans.