He had this library of movies that was just sitting there when people first got VCRs. He had assets. Howard Hughes did it when he bought RKO. That gave value to RKO. Carlos Slim: Content and many other things.
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Hero or villain? Some point to him as the only one capable of solving the structural problems of his country, thanks to his great capacity and immense fortune. They even nominated him as president, although he already warned that he does not plan to run for office.
Instead, their detractors say that their holding monopolizes one of the most important and thriving industries of recent years, and that this situation inflates the prices of services. Close to the political power and owner of one of the most influential and profitable economic groups worldwide, he will turn 80 and point out that his retirement from activity could be close. However, telephony is only one of its interests as it also develops projects and activities in construction, retail, mass consumption, banking, mining and tobacco, among others.
Before becoming the richest man in the world, since he held for several years, many point out that his true growth occurred as a 'vulture' during the Mexican financial crisis of In the following years, Slim became more than one dozens of companies, between bankrupt and in crisis, that were sold for very low prices in the face of the desperation of capital. Then, came the hand of the modern "King Midas".
He managed to turn the numbers of these firms and achieve a positive performance. Your investments are not strategic but keep an interest of pure return.
Buy at low prices, restructure so that the balances are painted blue again and sell at a valuation higher than that acquired. Slim is away from the day-to-day business of his companies, an activity he delegated to his six children, but he continues to be a leading personality in Mexico. It moves influences, meets with national and foreign politicians and announces billionaire disbursements.
But his lifestyle seems not to be that of an ostentatious millionaire, at least in some details, such as having lived for 40 years in the same house in the neighborhood of his childhood or his predilection for driving his car to go to work instead Of having a driver. Step by step he began his life as an entrepreneur, first with a haberdashery - which he attended with his son - and then through the sale of properties.
It was precisely from his father that Slim learned to buy cheap and sell expensive. He taught his son to read financial documents so that he knows how to interpret the best decision, and action to be taken, with their titles and values. Thus, the future tycoon began negotiating shares and signing checks with only 12 years. Soon, his father died and he took over the family business. He studied civil engineering at the National Autonomous University of Mexico UNAM , which is why he earned the nickname of 'the engineer' among his collaborators.
Later he served as operator of the auction area in the Mexican Stock Exchange, but his true vocation was to develop his solo career. Then, in , he founded Stock Market Investor Inbursa , dedicated to the brokerage of shares. To this was added a unit focused on the real estate business, a leg specialized in construction. He also added to his portfolio the bottler, a mine and Galas, a broken company that made calendars. In he gathered all these companies in the Galas Group, renamed Grupo Inbursa two years later.
The following decade was one of great activity for Slim. He took advantage of the Mexican crisis to buy the majority of shares of several companies, including the Cigatam tobacco company, the Sanborns and Nanocobre Industries chain.
They say that between and there were more than twelve companies that added, several of them still have them under their wing; others served to obtain economic revenue after detaching in exchange for a significant sum. From entrepreneur to millionaire. The arrival of a new decade brought the momentum that Slim needed to achieve fame. Its holding company, which was renamed Grupo Carso, made its stock market debut in June Slim would make this firm his true workhorse in the business world.
The landline business was joined by the mobile phone with Radio Dipsa, which he renamed Telcel. However, in he found a stone along the way. The Mexican Government approved a reform of the Telecommunications Law that installed penalties for players who exercised a dominant position and provided greater flexibility for foreign investors to enter the local market.
On the other hand, Carso continued to grow and the holding company was divided into four units, each also made up of multiple companies:. Despite his eagerness to remain active, an almost tragic event marked a before and after in Slim's life: an open heart operation, in , which had him 24 hours in critical condition and with an artificial respirator. They even claim that for several lapses he was on the verge of death. After that, he decided to step away from the executive direction of his companies and remain as honorary president.
Without telco, there is no fortune. Its net income was 46, million pesos and among the 25 countries in which it operates it reached a total of million wireless lines. Argentina, Uruguay and Paraguay counts these markets as a unit exceeded 24 million subscribers.
Telmex's operations allowed Slim to become the first non-US to become the richest person in the world, according to Forbes, in He moved no less than Bill Gates in that position and was able to keep his place for four consecutive years.
On the other hand, Carso has the consumer business as its main engine. Of the Also, while Sears declared bankruptcy in the US. In the US, the Mexican subsidiary was experiencing a time of prosperity and starred in half of the income of this division. The last enemy. It seemed a direct message to Slim, whose link with the great spheres of the State had been one of the main points of criticism for his detractors. In addition to the work of the airport, the president wanted to backtrack with a pipeline construction project in the hands of Carso.
It seemed that after years of a pleasant relationship with the government on duty, this time the millionaire had found a true adversary for his business. Slim does not belittle the possibility of having a helping hand in the Government and AMLO welcomes the millions that the businessman promises to invest. Meeting and protocol photo to seal the new peace agreement.
The magnate announced that he will invest , million Mexican pesos during the six years of the president's administration. The main amount will, of course, go to the telecommunications unit, with a disbursement of million pesos. At 79, Slim once again demonstrated his powerful influence on Mexican life, even many came to refer to the country as Slimlandia. However, as a result of the encounter between them, a little pearl emerged. AMLO assured that Slim confessed to him that he wanted to retire permanently from the activity before , when he would turn A few years ago, Slim revealed that he has already armed the succession plan of his empire.
The details are only he and are under seven keys. From having a haberdashery to being the richest in the world: how Carlos Slim, the modern "king Midas", wove his fortune. Claro's owner has a way of life that is far from a wealthy businessman.
He is also a recognized and controversial figure in his native country: Mexico. From entrepreneur to millionaire The arrival of a new decade brought the momentum that Slim needed to achieve fame. On the other hand, Carso continued to grow and the holding company was divided into four units, each also made up of multiple companies: - Sanborns Group: the commercial leg and the most successful.
The last enemy "The predominance of a minority and the linking of economic and political power, that the Government is only at the service of a group," AMLO said shortly after being elected as president of Mexico. Registrarse RSS Contacto.
How Carlos Slim Built His Fortune
His conglomerate includes education, health care, industrial manufacturing, transportation, real estate, media, energy, hospitality, entertainment, high-technology, retail, sports and financial services. Slim always knew he wanted to be a businessman and began to develop his business and investment acumen at a young age. At the age of 11, Carlos invested in a government savings bond that taught him about the concept of compound interest. He eventually saved every financial and business transaction he made into a personal ledger book which he keeps to this day. Though Slim was a civil engineering major, he also displayed an interest in economics. He took economics courses in Chile once he finished his engineering degree. After graduating from college in , Slim began his career as a stock trader in Mexico, often working hour days.
Hero or villain? Some point to him as the only one capable of solving the structural problems of his country, thanks to his great capacity and immense fortune. They even nominated him as president, although he already warned that he does not plan to run for office. Instead, their detractors say that their holding monopolizes one of the most important and thriving industries of recent years, and that this situation inflates the prices of services. Close to the political power and owner of one of the most influential and profitable economic groups worldwide, he will turn 80 and point out that his retirement from activity could be close. However, telephony is only one of its interests as it also develops projects and activities in construction, retail, mass consumption, banking, mining and tobacco, among others. Before becoming the richest man in the world, since he held for several years, many point out that his true growth occurred as a 'vulture' during the Mexican financial crisis of
Carlos Slim Helú
Imagine if the grocery store, the cell phone provider, and the biggest national construction outfit were all owned by the same company. You could buy just about anything and never have to enrich any competitors. See also: " Carlos Slim's Net Worth. Carlos Slim was born Jan. With proceeds from the store, he would go on to buy prime real estate in Mexico City for a pittance during the Mexican Revolution.
Participation in South American telecommunications companies is strengthened with the acquisition of the most important telecom in Brazil: Embratel. The company also diversifies with the airline Volaris and operations in mining and real estate, among others. Likewise, it sold its subsidiary of layers and tiles, Porcelanite, to Grupo Lamosa for million dollars. Also Copa Telmex received the Guiness Record for being the amateur tournament with the most number of competitors around the world. Performs a financial investment acquiring equity partnerships of 6. On September, Grameen Trust and Fundacion Carlos Slim announced an Alliance to create Grameen-Carso, which will afford with micro credits to the neediest in Mexico with an initial asset of about 45 million dollars.