Carlos Slim Helu the fifth richest person in the world today was born on January 28, 1940, in Mexico City. He remained the richest person in the world from 2010 to 2013 ranked by Forbes.
Carlos was born Lindu Helu Atta and Julian Haddad a family or Maronite Christians migrated from Lebanon. Slim got his civil engineering degree at the National Autonomous University of Mexico in 1961.
He not only learned linear programming but he also learned algebra which he taught in later years. Carlos received his early business lessons from his father who gave slim a savings book with a weekly allowance. He learned finance, accounting, management, financial statements, and keeping accurate financial records.
Start of Career:
Just at the age of 12 slim bought the shares of Banco Nacional de Mexico. In 1965 slim began to build Grupo Carso. Inmobiliaria Carso was started in January 1966. Same year slim married Soumya Domit Gemayel hence the name Carso started by combining the first three letters of Carlos and first two letters of Soumaya. Carlos also holds the stakes in Telmex, Grupo carso, American Movil, the New York Times, SA de CV, amassed interests in insurance, communication, energy, construction, retailing, finance, mining, and publishing.
Carlos Slim Business Strategy:
Slim business strategy is to buy stakes at low prices during the company’s struggle and then selling them in the future at good prices. During the 1980’s when the Mexican economy was struggling slim bought Cigatam, General Tire, Reynolds Aluminium, and chain of Sanborns stores.
Slim holds a stake in US-based brands like Hershey’s chocolate, firestone tires, and Denny’s coffee shops. Slim bought several insurance companies which he merged to form Seguros Inbursa a giant insurance firm.
Other entrepreneurial Ventures:
Slim also invested in Volris a Mexican airline. In March 2012 along with Larry King, he established a television network named Ora TV. In January 2017 slim announced to launch Nuestra Vision (Our vision) a new television channel in the U.S. to present 100 percent Mexican content including sports, news, and movies.
Slim started the Carso foundation in 1986 which provides education and training programs to develop Mexican human capital. To develop infrastructure, reduce poverty, and promote education, the foundation not only received appreciation but also received a $4 billion endowment. The foundation is working in all over Latin America. He established Museo Soumaya to preserve a world-class collection of European and Mexican art. The institute was also named in honor of Soumaya Helu slim’s late wife. The institute is also sponsoring traveling exhibitions and providing funds for conservation.
Slim’s philanthropy work also includes the Telmex Foundation, which is one of the largest philanthropic institutions in Latin America providing not only nutrition, health, disaster relief, conservation, but also university scholarships.
Slim remained the richest person in the world from 2010 to 2013. He fell to the second richest man in the world in 2014 and 2015. In 2016 he was the biggest dollar loser and he fell to 4th place and then slipped to the sixth position in 2017. Today slim is the richest man in Mexico and Latin America but the fifth richest man in the world having a net worth of $54.5 billion.
Carlos Slim Helu’s wife Soumaya Domit died in 1999. They have six children including 3 sons Carlos Slim Domit, Marco Antonio, Everett Patrick. And 3 daughters Soumaya, Vanessa, and Johanna.