Carlos Slim Helu was born in Mexico City on January 28, 1940. Don Julián is his father and took care of each of his children with a savings book with their weekly stipend so they could learn to budget. By following this rule, Don Julián’s offspring managed their finances and became wealthy.
Young Carlos’s first lesson in business was investment and savings, which he put into effect by opening his first checking account and buying Banco Nacional de México shares at age 12.
Their father encouraged all children to become financially literate. Each child was given a ledger to keep track of their spending. By the time he was 12 years old, Carlos had already started investing in the Bank of Mexico.
Carlos Slim’s father died when he was just 13 years old, and the following years were traumatic for him. When he was a student at the Autonomous National University of Mexico (UNAM), he began teaching mathematics and linear programming while completing his studies.
Carlos Slim’s father
Julien Slim Haddad, Carlos Slim’s father, fled Lebanon at fourteen and settled in Mexico. In Mexico City, he and one of his brothers founded a dry-goods store.
Julián Slim decided to stay in Mexico after the revolution of 1910 when foreign business people fled the country. During the twenties, his capital city holdings included a slew of businesses and a sizable chunk of real estate.
Doa Linda Hel, the daughter of Lebanese immigrants, became Julián’s wife. Carlos Slim Hel was the fifth of the couple’s six children.
Carlos Slim’s Net Worth
It is estimated that Carlos is worth billions of dollars. It is believed that he has 75.5 billion dollars in wealth. The extravagant mansions found throughout the world do not pique Carlos’s curiosity. Carlos does not own a large number of vehicles, and he prefers to travel alone whenever possible.
Meanwhile, the profits from his businesses were reinvested in further expansion and acquisitions. As time passed, Carlos Slim made a series of smart investments and management changes at companies perceived as undervalued by the market.
He began by investing in real estate, then in a construction equipment company, and last in mining holdings. He diversified carefully. Slim’s expanding business activities now include tobacco and printing.
The Helu family’s total wealth is estimated to be $75.5 billion. They belong to the ranks of the wealthiest families on the entire planet.
What did Carlos Slim do for Mexico?
He became a billionaire as a result of the economic collapse that occurred in Mexico in 1982.
At that time, the Mexican government was in the process of nationalizing banks and discouraging business investment since it had defaulted on its international loans as a result of the devaluation of the money.
Carlos Slim’s ethnicity
Carlos Slim was born into a family of Lebanese Christian immigrants to Mexico, where his father amassed a fortune in real estate during the Mexican Revolution of 1910–20. Slim was born into this family.
Economic Crisis in Mexico
- In 1982, Mexico was stricken by an economic crisis.
- Carlos Slim’s faith in Mexico remained unshaken, and as a result, he purchased the Mexican subsidiaries of Reynolds Aluminum, General Tire, and the Sanborn’s chain of stores and eateries.
- As the economy began to improve, Slim’s wealth increased, and the pace of his acquisitions quickened.
- He purchased the Mexican operations of various businesses in the United States, including Firestone tires, Hershey’s chocolate, and Denny’s coffee shops, among others.
- He created the mega-firm Seguros Inbursa by acquiring several different insurance agencies and then merging them.
How did Carlos Slim achieve such a vast fortune?
When Mexico began privatizing its telecommunications industry in the early 1990s, Grupo Carso bought Telmex from the Mexican government. It caused his revenues to rise. Telmex is a Mexican company that offers various products and services related to telecommunications. The company was established in 1947 and had more than 50,000 staff members.
Many foreigners and Lebanese were barred from entering Mexico in 1927 when the country’s migration policy became less friendly. Legal brief Don Julián Slim, who served as the head of the Lebanese Chamber of Commerce, successfully submitted to the Department of State was a comprehensive and well-researched document.
“Lebanese are characterized by their effort, economy, simplicity, and how readily and rapidly they learn the language,” one section of the brochure states.
What is Carlos Slim going to do now?
In Mexico, he is the owner of over twenty retail complexes, ten of which are located in Mexico City. Additionally, he manages stores in Mexico that are branded with American names, such as Saks Fifth Avenue, Sears, and the Coffee Factory.
Additionally, the Helu family has financial stakes in two Spanish companies: Grupo Prisa and the investment banking firm Caxia Bank.
Carlos Slim’s wife
In 1966, when Carlos was only 26 years old, he tied the knot with Soumaya Domit. The relationship remained friendly right up until the year 1999 when she passed away.
Carlos came up with the idea for the company CARSO by combining his own name and his wife’s. In her honor, he also established the Museo Soumaya, which is now the most significant art gallery museum in all of Latin America.
Having taught for a few years, Carlos Slim incorporated his first business venture, Inversora Bursátil, a stock brokerage firm. In the same year, he married Soumaya Domit; in the name of his holding firm, Grupo Carso. He lived cheaply with his growing family, remembering his father’s teachings on frugal living.
Carlos Slim’s Wife Untimely Death
In 1999, Soumaya Domit, the wife of Carlos Slim, tragically lost her life and passed away at just 51. After the unexpected passing of his beloved wife in 1999, Carlos decided that he would never marry again in his entire life. As of right now, Carlos Slim is single and focuses on his career rather than getting married.
How was Carlos Slim’s relationship with Soumaya Domit?
Carlos Slim and his wife Soumaya Domit were married in 1966. In 1964, the couple met for the first time. Both Carlos’ and Soumaya’s moms are of Mexican-Lebanese descent and were close friends. Slims’ boyhood home was a few streets distant from Soumaya’s.
Nonetheless, the happy couple has six children due to their union. Carlos Slim Domit, Patrick, Marco Antonio (sons), and Soumaya, Vanessa, and Johanna are their names.
How is Carlos’ life after the death of his beloved wife?
There is no denying the fact that Carlos Slim’s wife’s death devastated him. He was a wealthy man in Mexico and worldwide, he never married again. Slim was deeply attached to his wife.
To memorialize his wife, Soumaya Domit, Carlos moved to Mexico City to create the Museo Soumaya, a private museum named after Soumaya Domit that operates as a non-profit cultural organization and offers free entry to his outstanding art collection.
Carlos Slim’s Family
The Helu family is extremely wealthy and is regarded as one of the most affluent families in the world. In July 2014, Carlos Slim dethroned Bill Gates as the world’s richest individual.
He is a typical American capitalist in the style of the 20th century, and he has always placed a greater emphasis on monopoly than technology. He is the first individual hailing from a developing nation to top Forbes’ list of wealthiest people in the world.
Carlos is a devoted follower of the baseball team known as the New York Yankees. Carlos comes from Lebanon and is genuinely interested in his ancestors’ culture and customs. The Helu family adheres to the philosophy of minimalism and maintains a relatively uncomplicated and tidier lifestyle.
Carlos Slim’s successful journey
He’s successful in the industry, real estate, and business since the 1980s. In 1982, when Mexico’s economy was in disarray, Carlos Slim and Grupo Carso invested substantially. During this time, they made various investments and acquisitions, including Cigatam, the first and most important due to its cash flow.
In 1990, the group bought TELMEX with SBC and France Telecom, launching an entrepreneurial expansion. TELMEX’s tech improves operations and culture. In Mexico and Latin America, TELMEX has invested $27.692 billion.
In 1996, it introduced mobile prepayment. Radiomóvil Dipsa (now TELCEL) had 313.1 million users in Latin America in June 2012, including 251.8 million cellular subscribers, 30 million fixed lines, 15.1 million internet users, and 11.6 million pay-TV customers.
Carlos Slim has left most of his company boards and is now chairman of IDEAL, Fundación Telmex, A.C., Fundación Carlos Slim Hel, A.C., and Consejo Consultivo de Restauración del Centro Histórico, A.C.
Mr. Slim has spoken at government, private, and international institutions (ECLA).
Before retiring in 2004, he sat on the boards of Altria and SBC Communications.
He became Vice-Chairman of the Mexican Stock Exchange and Mexican Brokerage Association. He led NYSE’s Latin American Committee.
On December 16, 2008, Carlos Slim Helu was nominated to the RDC Executive Board.
“It is an honor to include this distinguished business and philanthropist leader,” said James A. Thomson, president, and executive director of RAND Corporation, of Eng. Slim’s election to the executive board.
“Undoubtedly, Carlos Slim Helu will help the corporation improve its 60 years of success by providing objective analysis and effective solutions related to new challenges.”
Carlos Slim co-chairs the Broadband Commission for Digital Development of the ITU and UNESCO.
In 2011, the Carlos Slim Foundation’s social initiatives totaled 29.7 million.
During his presidency of the Chamber, he conducted a census of all Lebanese merchants in Mexico and engaged with them in the 1930s Nationalist Campaign to promote Mexican industry by buying and consuming made-in-Mexico items to help trade, employment, and national growth.
“Consume what the country produces” was the slogan. This campaign had the president’s approval (Pascual Ortiz Rubio), but it didn’t cost the federal treasury.
The campaign promoted Mexican exports and product excellence. Don Julián’s vital, essential, and dynamic engagement in this movement revealed his fantastic ability to assimilate to a country’s culture that he adopted and championed as his own. During that time, he got Mexican citizenship.
Carlos Slim’s main focus on health and education
Slim focuses on education, health, and employment in Mexico and Latin America through his foundations and infrastructure businesses. His companies are controlled by Carlos, Marco Antonio, and Patrick Slim Domit.
Who holds the title of the wealthiest individual in Mexico?
The Mexican business mogul Carlos Slim Helu and his family had a fortune worth 81.2 billion United States dollars in 2022, making him the wealthiest individual in the country. It was an accumulation of several generations of wealth. América Móvil is the most successful mobile communication firm in Latin America, and the Helu family owns it.
Achievements
- Carlos Slim Helu and his family control América Móvil, one of the largest mobile phone companies in Latin America.
- In 1990, Slim purchased a portion of Telmex, the only phone company in Mexico, together with foreign telecom partners.
- América Móvil has acquired Telmex as a subsidiary.
- In addition, he holds investments in Mexican enterprises involved in construction, consumer products, mining, and real estate, as well as in The New York Times, of which he owns 17 percent.
- Over eight percent of Slim’s fortune is held in Grupo Carso, one of the most powerful corporations in Latin America, owned by Slim and his family. They own 79 percent of the company.
Conclusion
In the first month of 2017, Carlos Slim announced his intentions to launch a new television network in the United States. The web is going to be called Nuestra Vision (which translates to “Our Vision”), and it will feature “100 percent Mexican content,” which will include things like news, movies, and sports.
The new network competes with both Univision and Mexico’s Televisa for the prospective audience of 11.7 million Mexican immigrants, or the estimated 35 million people of Mexican descent or ancestry who currently live in the United States.
It is estimated that Carlos Slim’s net worth is now $75.5 billion as of 2022. It places him as the 15th richest person in the world.
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