Source of Wealth, Telecom,,,
There are billionaires and then there is Carlos Slim Helú. His personal wealth accounts for about 5% of the annual economic output in Mexico thanks to the Mexican telecommunications giant TelMex, which controls 90% of Mexican landlines and 80% of the cell phones in the country (through TelCel).
Carlos Slim is first and foremost a businessman. Though his most successful venture is Telmex, his diverse portfolio spans a wide range of industries, including telecommunications, chemicals, automobiles, airlines, tobacco and many more.
Not confining his ventures to his home country, Slim owns an 8% stake in The New York Times Company, and has even licensed and opened a Saks Fifth Avenue in Santa Fe, New Mexico. He also owns licensing rights for many American and international brands sold in Mexico.
Slim amassed his fortune through successful business moves beginning primarily during the downturn of the Mexican economy in the 1980s. Already a successful businessman, he used his wealth to acquire, merge and control numerous companies suffering from a turn in profits.
With the primary wealth in Slim’s net worth held in the form of stocks in a variety of businesses, Slim’s ranking in the List of Billionaires can fluctuate more than many due to the ups and downs of the stock market on any given day. This is why he may at any point be the richest man in the world, or, as has occurred recently, fall behind Bill Gates for the title.