Carlos Slim
Who was Carlos Slim?
Mexican business magnate who became one of the world's richest people through his telecommunications empire, particularly his control of América Móvil.
Biographical data adapted from Wikipedia’s article on Carlos Slim (CC BY-SA 4.0).
Biography
Carlos Slim Helú was born on January 28, 1940, in Mexico City to Lebanese immigrant parents. He studied civil engineering at the National Autonomous University of Mexico, graduating in 1961. During college, Slim showed an early interest in finance and investing, teaching algebra and linear programming while building his first investment portfolio. He started his business career in the 1960s when he founded Inversora Bursátil, a stock brokerage firm, using money from his father's successful dry goods business.
Slim's rise to fame sped up during Mexico's economic crises of the 1980s and 1990s when he bought undervalued companies in different sectors. He focused on buying struggling businesses and turning them around for long-term growth. In 1990, he made his biggest purchase by buying Telmex, Mexico's national telephone company, through a privatization process. This telecom investment laid the foundation for his vast fortune, as he expanded operations throughout Latin America under the América Móvil brand.
Through his holding company Grupo Carso, named after his wife Soumaya and himself, Slim built a business empire that includes telecommunications, retail, mining, construction, and financial services. His companies include major Mexican retailers like Sanborns and Sears Mexico, mining operations through Grupo México, and significant real estate holdings. Slim focuses on creating long-term value, running efficient operations, and integrating his various enterprises strategically.
From 2010 to 2013, Forbes magazine ranked Slim as the world's richest person, with his net worth peaking at over $70 billion. Most of his wealth comes from his controlling stake in América Móvil, Latin America's largest mobile network operator, serving over 280 million subscribers across 25 countries. As of 2025, he remains Latin America's wealthiest individual with a net worth of about $99 billion. Beyond business, Slim has been actively involved in philanthropy through the Carlos Slim Foundation, focusing on education, healthcare, and cultural preservation in Latin America.
Before Fame
Carlos Slim's business roots go back to his childhood in Mexico City, where his father, Julián Slim Haddad, a Lebanese immigrant, ran a successful dry goods store called La Estrella del Oriente. His father taught him important lessons in financial management and thinking ahead for the long term, which were crucial for Carlos's later success. In the 1950s, as Mexico's economy grew, Slim learned how businesses could succeed through smart investing and strategic patience.
While studying civil engineering at UNAM in the early 1960s, Slim started using math to analyze finances and invest in the stock market. He bought his first shares when he was 12, and by the time he was in college, he had developed advanced investment strategies. The economic growth in Mexico after World War II offered many chances for young entrepreneurs, and Slim positioned himself to take advantage of the industrial modernization and urban development boom of the time.
Key Achievements
- Ranked as world's richest person by Forbes from 2010-2013
- Built América Móvil into Latin America's largest telecommunications company
- Acquired and transformed Mexico's state telephone monopoly Telmex into a regional powerhouse
- Created Grupo Carso conglomerate spanning multiple industries across Mexican economy
- Maintained position as Latin America's wealthiest individual for over two decades
Did You Know?
- 01.Slim owns the largest collection of Auguste Rodin sculptures outside of France, housed in his Museo Soumaya in Mexico City
- 02.He worked as a stock trader on the Mexican Stock Exchange floor in the 1960s before electronic trading existed
- 03.His Telmex acquisition in 1990 cost $1.76 billion and became worth over $50 billion at its peak
- 04.Slim's daily routine includes reading three newspapers and reviewing financial reports for several hours each morning
- 05.He purchased a 16.8% stake in the New York Times Company in 2009, becoming its largest individual shareholder
Family & Personal Life
Awards & Honors
| Award | Year | Details |
|---|---|---|
| Golden Plate Award | — | — |