Carlos Slim facts for kids
Quick facts for kids
Carlos Slim Helú
|
|
|---|---|
_(cropped).jpg)
Slim in 2018
|
|
| Born | 28 January 1940 Mexico City, Mexico
|
| Education | National Autonomous University of Mexico (BS) |
| Occupation | Business magnate, Investor, Philanthropist |
| Known for |
|
| Spouse(s) |
Soumaya Domit
(m. 1967; died 1999) |
| Children | 6, including Carlos |
| Relatives | Alfredo Harp Helú (cousin) Arturo Elías Ayub (son-in-law) |
Carlos Slim Helú (born January 28, 1940) is a very successful businessman, investor, and generous giver from Mexico. For several years, from 2010 to 2013, he was named the richest person in the world by Forbes magazine. He built his huge fortune from owning many companies in Mexico through his large group of businesses called Grupo Carso. As of July 2025, he is ranked as the 18th richest person globally, making him the wealthiest person in Latin America.
Mr. Slim's companies are involved in many different areas of the Mexican economy. These include education, health care, making things in factories, transportation, real estate, and even entertainment. However, most of his wealth comes from telecommunications. He owns América Móvil, which operates across Latin America, and the Mexican phone companies Telcel and Telmex. Telmex used to be owned by the government and became a private company after Mr. Slim bought it. For many years, it was almost the only phone company in Mexico. His companies make up a big part of the businesses listed on the Mexican Stock Exchange.
Contents
Early Life and Education
Carlos Slim was born in Mexico City on January 28, 1940. His parents, Julián Slim Haddad and Linda Helú Atta, were both from Lebanon. From a young age, Carlos knew he wanted to be a businessman. His father taught him important lessons about money, managing businesses, and keeping good records.
When he was 11, Carlos invested in a government savings bond. This taught him about how money can grow over time. He always kept careful records of all his money dealings, a habit he continues to this day. At 12, he bought his first shares in a Mexican bank. By 15, he owned shares in Mexico's biggest bank. He later studied civil engineering at the National Autonomous University of Mexico. While studying, he also taught math classes.
Even though he studied engineering, Carlos was also very interested in economics. He took extra economics classes in Chile after finishing his engineering degree. He believes his math skills and engineering background helped him greatly in understanding businesses and making smart investment choices.
Building His Business Empire
Starting Out in the 1960s
After finishing university in 1961, Carlos Slim started his career as a stock trader in Mexico. He worked very long hours to make a name for himself. By 1965, his business and investments had earned him a lot of money. This allowed him to start his own stock brokerage company, Inversora Bursátil. He also began to set up the financial base for his future big company, Grupo Carso. In 1966, he started a real estate company called Inmuebles Carso.
Growing in the 1970s and 1980s
Carlos Slim first focused on businesses like construction, soft drinks, printing, real estate, and mining. He then expanded into many other areas, including car parts, aluminum, airlines, and financial services. By 1972, he had bought or started seven more businesses. In 1980, he brought all his business interests together under one main company, Grupo Galas. This group included companies in manufacturing, construction, mining, and retail.
In 1982, Mexico's economy faced a tough time. Many banks struggled, and foreign investors pulled their money out. Carlos Slim saw this as a chance to invest. He bought shares in many Mexican companies that were struggling, getting them at very low prices. His strategy was simple: buy a business, keep it for the money it makes, or sell it later for a bigger profit. This approach helped him grow his wealth.
During this economic downturn, he bought many important Mexican companies. These included a mining company, a copper manufacturer, an aluminum company, Mexico's largest tire maker, and a hotel chain. He also became the main owner of Sanborn Hermanos, a well-known Mexican food and gift store chain. He also bought a large part of the Mexican branches of British American Tobacco and The Hershey Company. Many of these purchases were paid for with money from Cigatam, a tobacco company he bought earlier.
Expanding in the 1990s
Carlos Slim made a lot of money in the early 1990s when the Mexican government started selling off its phone companies. He saw a great opportunity and, through his company Grupo Carso, bought Telmex. Telmex was the main landline phone company in Mexico. In 1990, Grupo Carso became a public company, meaning its shares could be bought and sold by anyone.
Later in 1990, Mr. Slim worked with French and American phone companies to buy Telmex from the Mexican government. This was a very important step, as the money Telmex made became a huge part of his wealth. By 2006, Telmex controlled most of the phone lines in Mexico. His wireless company, Telcel, handled almost 80 percent of all cell phones in the country.
In 1996, Mr. Slim divided Grupo Carso into three separate companies: Carso Global Telecom, Grupo Carso, and Invercorporación. The next year, he bought the Mexican part of Sears Roebuck. By 1999, he started looking for business opportunities outside Latin America, especially in the United States.
New Ventures in the 2000s
In 2003, Carlos Slim made news in the U.S. by buying large shares in major American stores like Barnes & Noble and OfficeMax. People joked that he was buying everything in Mexico, so he had to look elsewhere! He also started a Telmex USA branch and bought a share in Tracfone, an American cell phone company. Around this time, he had heart surgery and started giving more of the daily business tasks to his children.
In 2000, América Telecom was created as the main company for América Móvil. Telmex also spun off its international cell phone division, which became América Móvil SA, listed on the New York Stock Exchange. América Móvil then invested in phone companies across Latin America, including in Brazil, Argentina, Colombia, and Peru. In 2005, Mr. Slim invested in Volaris, a Mexican airline. He also founded IDEAL, a company focused on building important infrastructure projects in Latin America.
In 2007, after owning more than half of the Cigatam tobacco company, Mr. Slim sold a large part of his shares for a lot of money. He also sold his entire share of Porcelanite, a Mexican tile-maker. In the same year, he opened the Mexican branch of Saks Fifth Avenue retail store. By the end of 2007, all of Mr. Slim's companies were estimated to be worth a huge amount of money. In 2008, he bought a share in The New York Times Company, a major American newspaper publisher. By 2015, he became the largest shareholder of their Class A shares.
Recent Activities in the 2010s and 2020s
In 2012, Mr. Slim's company América Móvil bought the rights to broadcast the 2014 Winter Olympics and the 2016 Summer Olympics in Latin America. He also teamed up with American TV host Larry King to create Ora TV, an online TV network.
Mr. Slim also invested in sports. In 2012, América Móvil bought shares in two Mexican soccer teams, Pachuca and León. He also bought another team, Estudiantes Tecos. His company also bought the TV rights for some soccer games. In 2013, América Móvil invested in Shazam, a British app that identifies music. This helped Shazam grow in Latin America.
In 2014, Mr. Slim took control of Telekom Austria, Austria's largest telecommunications company. This was his first big business purchase in Europe. In 2015, Grupo Carso launched Claro Musica, an online music service for Latin America, similar to iTunes and Spotify. He also bought shares in Spanish companies, including a bank and a real estate company. In April 2015, he started a new oil company called Carso Oil & Gas.
In 2024, a news story mentioned that Mr. Slim's wealth grew because he formed a telecommunications monopoly, partly due to his good relationship with the government, rather than just through new inventions. In June 2024, he bought a small share in the British telecommunications company BT.
Giving Back to the Community
Carlos Slim has been open about his views on giving away wealth. While he hasn't pledged to give away half his fortune like some other billionaires, he strongly supports helping others. He believes businessmen should do more than just give money; they should also help solve problems. In 2019, Forbes listed him among the world's most generous givers outside the U.S.
Fundación Carlos Slim
Started in 1986, the Fundación Carlos Slim supports the Museo Soumaya in Mexico City. The museum is named after his late wife, Soumaya Domit, and opened in 2011. It has a huge collection of art, including many sculptures by Auguste Rodin and works by famous artists like Leonardo da Vinci and Pablo Picasso. The museum's opening was a big event, attended by many important people.
Mr. Slim has said he donated billions of dollars from his company's profits to the Fundación Carlos Slim. This foundation focuses on education and health care projects. For example, it helped pay for many cataract surgeries in Peru.
Fundación Telmex
In 1995, Mr. Slim started Fundación Telmex, another large foundation. In 2007, he announced it would have billions of dollars to support health, sports, and education. This foundation also works with former U.S. President Bill Clinton to help people in Latin America. The foundation organizes Copa Telmex, a sports tournament for amateur athletes, which has been recognized for having the most participants in the world. They also invest in Mexican sports programs, from local teams to Olympic training.
Fundación del Centro Histórico de la Ciudad de México A.C.
Since 2001, Carlos Slim has led the effort to restore the historic downtown area of Mexico City. In 2011, he helped open the first part of Plaza Mariana, near the Basilica de Guadalupe. He funded the construction of this complex, which includes a museum, a health center, and a market.
Personal Life
Carlos Slim was married to Soumaya Domit from 1967 until she passed away in 1999. She was very involved in charity work. They had six children: Carlos, Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna. His three older sons now hold important positions in his companies and help manage his business empire. Mr. Slim had heart surgery in 1999. He has said that he and his wife had a very happy marriage and he does not plan to remarry.
Interestingly, Mr. Slim does not use a computer in his office. He keeps all his financial information in handwritten notebooks. Because his business empire is so vast, he sometimes jokes that he can't keep track of all the companies he manages. He is a Maronite Catholic and supports the Legion of Christ, a Catholic religious group.
His Family Background
Carlos Slim's father, Julián Slim Haddad, was born in Lebanon in 1888. He moved to Mexico alone in 1902 when he was 14. Many Lebanese children were sent abroad at a young age to avoid being forced into the Ottoman Army. Four of Julián's older brothers were already living in Mexico when he arrived.
In 1911, Julián started a dry goods store. By 1921, he began investing in real estate in Mexico City's growing business area. He bought properties at very low prices during the Mexican Revolution. By 1922, Julián had become very wealthy, with his money spread across many different businesses and properties.
In 1926, Julián Slim married Linda Helú Atta, who was also of Lebanese background. Her parents had moved to Mexico from Lebanon in the late 1800s. They even started one of the first Arabic-language magazines for the Lebanese-Mexican community. Julián and Linda had six children, including Carlos. Julián senior passed away in 1953 when Carlos was 13 years old. Julián's successful businesses made his family very wealthy. He was known for being a smart businessman and for making good investments even during tough economic times.
His Wealth and Public View
How His Wealth Grew
In March 2007, Carlos Slim became the world's second-richest person, passing American investor Warren Buffett. In August 2007, Fortune magazine reported that Mr. Slim had even overtaken Bill Gates to become the world's richest person for a short time.
In March 2010, Forbes magazine confirmed that Carlos Slim was the world's richest person, with a net worth of over $53 billion. He was the first Mexican to top this list and the first person from outside the United States to be number one in 16 years. Between 2008 and 2010, his wealth more than doubled. He held the top spot as the wealthiest person in the world until May 2013. In July 2014, Forbes again announced that he had reclaimed the top position.
Real Estate Investments
Carlos Slim is also very active in real estate. His company, Inmobiliaria Carso, has built and owned many homes and business properties across Mexico since the 1960s. His real estate company built Plaza Carso in Mexico City, where many of his businesses have their main offices. Since the early 2000s, he has also invested in real estate outside Mexico, especially in Spain and the United States.
In May 2014, Mr. Slim opened the Inbursa Aquarium, which is the largest aquarium in Latin America. He also owns a beautiful old mansion in New York City, which he bought in 2010. In 2015, he bought the Marquette Building in Detroit and the PepsiCo Americas Beverages headquarters in New York.
Facing Criticism
Mr. Slim's huge wealth has sometimes been a topic of discussion. This is because he has become so rich in a country where many people live in poverty. Critics often say that he has too much control over certain markets, like the phone industry. For example, Telmex, which he and his family own a large part of, controls most of the landline phone market in Mexico. Some say that Telmex charges very high fees compared to other countries.
Some economists believe that Mr. Slim's control over many businesses makes it harder for smaller companies to grow in Mexico. This can lead to fewer good jobs, causing some Mexicans to look for work in other countries.
In response to these criticisms, Mr. Slim has said that he doesn't worry about what others think of his wealth. He believes that if you live for others' opinions, you are not truly living. He has also stated that he is not interested in being the world's richest person. When asked about his wealth increasing, he simply said, "The stock market goes up... and down," meaning his fortune could change quickly.
In 2016, Donald Trump, who was running for president at the time, accused Mr. Slim of influencing articles that were critical of him in The New York Times. The newspaper responded by saying that Mr. Slim had never interfered with their editorial decisions. Later, Mr. Trump and Mr. Slim met in person, and Mr. Slim spoke positively about their meeting.
Awards and Recognition
Carlos Slim has received many awards for his business achievements and his charity work:
- He received the Entrepreneurial Merit Medal of Honor from Mexico's Chamber of Commerce in 1985.
- He was given the Golden Plate Award by the American Academy of Achievement in 1994.
- Latin Trade magazine named him CEO of the year in 2003 and CEO of the decade in 2004.
- His Fundación Telmex received Mexico's National Sports Prize in 2007 for promoting sports.
- In 2008, the Lebanese government recognized his charity work with The National Order of the Cedar.
- The Hispanic Society of America honored Fundación Carlos Slim in 2011 for its contributions to arts and culture.
- In 2012, George Washington University gave him an honorary doctorate degree.
- In 2020, he received the Queen Sofía Spanish Institute Sophia Award for Excellence.
See also
In Spanish: Carlos Slim para niños
