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Carlos Slim
Mexico
Net Worth
$92B
Source of Wealth
Telecom
Global Rank
#16 of 157
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.
Early Life
Carlos Slim Helu was born on January 28, 1940, in Mexico City to Lebanese immigrant parents. His father, Julian Slim Haddad, had emigrated from Lebanon in 1902 at age 14 and built a successful dry goods business and real estate portfolio in Mexico City. Julian instilled in his son a love of business from a young age — he gave young Carlos a weekly allowance and required him to keep a ledger of his income and expenses, teaching him the fundamentals of accounting and financial discipline before he was a teenager. Carlos bought his first shares of stock in a Mexican bank at age 12. He studied civil engineering at the National Autonomous University of Mexico (UNAM), simultaneously taking courses in economics and running small business ventures. By the time he graduated in 1961, Slim already had a significant investment portfolio and a deep understanding of Mexican markets.
Companies & Ventures
America Movil
$50B+ market capFounder & Honorary Chairman · Est. 2000 (spun off from Telmex)
America Movil is the largest telecommunications company in Latin America, with over 300 million wireless subscribers across 25 countries in the Americas and Europe. Carlos Slim built America Movil by acquiring and consolidating mobile operators across the region, beginning with Mexico's Telcel and expanding aggressively into Brazil, Colombia, Argentina, and beyond. The company generates over $50 billion in annual revenue and provides wireless, broadband, and pay television services to hundreds of millions of people across the developing world.
Grupo Carso
Founder & Chairman · Est. 1990
Grupo Carso is Carlos Slim's industrial and retail conglomerate, with operations spanning construction, manufacturing, mining, retail, and energy. The conglomerate includes Sanborns (a major Mexican department store and restaurant chain), Condumex (industrial cables and auto parts), and significant construction and infrastructure assets. Grupo Carso reflects Slim's philosophy of owning a diversified portfolio of essential businesses in growing economies.
Portfolio & Holdings
Notable public equity positions associated with Carlos Slim.
AMX
America Movil
KOF
Coca-Cola FEMSA
Investment Principles
Buy During Crisis
Slim's greatest wealth creation has come from buying assets during periods of economic crisis when others are selling in panic. His acquisition of Telmex in 1990 during Mexico's economic difficulties, and his massive purchases of U.S. stocks during the 2008 financial crisis — including a $250 million investment in the New York Times — exemplify his contrarian approach. As Slim has said: 'When there is a crisis, that is when some are interested in getting out and that is when we are interested in getting in.'
Focus on Growing Economies
Slim has concentrated his investments in Latin America and other developing regions where population growth, urbanization, and rising incomes create structural tailwinds. Rather than competing in mature, saturated markets, Slim has built businesses that serve hundreds of millions of people who are moving into the middle class for the first time — a strategy that provides decades of organic growth.
Own Essential Infrastructure
From telecommunications networks to construction companies to retail chains, Slim's portfolio is concentrated in businesses that provide essential services to a growing population. People need phone service, internet access, places to shop, and infrastructure. These essential businesses generate steady cash flows regardless of economic cycles and provide a foundation for compounding wealth over decades.
Maintain a Simple Corporate Structure
Despite operating one of the most complex business empires in the world, Slim runs his operations with a relatively lean corporate structure. He is known for making decisions quickly, delegating operational authority to trusted managers, and avoiding the bureaucratic overhead that characterizes many large conglomerates. This simplicity allows his businesses to be more agile and responsive than competitors weighed down by layers of management.
Philanthropy
Carlos Slim's philanthropic activities are channeled primarily through the Carlos Slim Foundation, which he established in 1986 and which has disbursed billions of dollars in grants across education, health, employment, economic development, and cultural preservation in Latin America. The foundation's flagship programs include Telmex Digital Libraries, which have provided internet access and computer literacy to millions of Mexicans, and a major initiative to digitize and preserve Latin American cultural heritage. Slim has also funded significant health programs, including partnerships with the Gates Foundation to combat neglected tropical diseases and improve maternal health across the region. His Museo Soumaya in Mexico City, named after his late wife, houses one of the most important art collections in the Americas and is free to the public.
Deep Dives
Go deeper into what makes Carlos Slim exceptional.
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