This is the latest t slim software update revision, reviewed on 28 October 2018. Jump to navigation Jump to search For his son, see Carlos Slim Domit. This name uses Spanish naming customs: the first or paternal family name is Slim and the second or maternal family name is Helú.
Mexican business magnate, engineer, investor and philanthropist. He is the richest man in Mexico. His conglomerate includes education, health care, industrial manufacturing, transportation, real estate, media, energy, hospitality, entertainment, high-technology, retail, sports and financial services. Fundación del Centro Histórico de la Ciudad de México A.
Linda Helú Atta, both Maronite Catholics from Lebanon. Slim always knew he wanted to be a businessman and began to develop his business and investment acumen at a young age. At the age of 11, Carlos invested in a government savings bond that taught him about the concept of compound interest. He eventually saved every financial and business transaction he made into a personal ledger book which he keeps to this day.
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At the age of 12, he made his first stock purchase, by purchasing shares in a Mexican bank. Though Slim was a civil engineering major, he also displayed an interest in economics. He took economics courses in Chile once he finished his engineering degree. After graduating from college in 1961, Slim began his career as a stock trader in Mexico, often working 14-hour days. In addition, he also began laying the financial groundwork for Grupo Carso. In 1965 he also bought Jarritos del Sur.
Companies in the construction, soft drink, printing, real estate, bottling and mining industries were the focus of Slim’s early burgeoning business career. 1980, he consolidated his business interests by forming Grupo Galas as the parent company of a conglomerate that had interests in industry, construction, mining, retail, food, and tobacco. In 1982, the Mexican economy contracted rapidly. As many banks were struggling and foreign investors were cutting back on investing and scurrying, Slim began investing heavily and bought many flagship companies at depressed valuations. Having a keen investment eye for value, Slim adhered to his value investment practices with a long history of buying stakes in companies he sees as undervalued. From the mid 1960s to the early 1980s, Slim and his growing family lived a modest life, while earnings from Slim’s many businesses were re-invested in expansion and more acquisitions. Slim acquired companies with strong returns on capital he believed were undervalued and overhauled their management.
He diversified methodically in numerous industry sectors across the Mexican economy, investing in real estate, then a construction equipment company, and mining companies. During the Mexican economic downturn before its recovery in 1985, Slim invested heavily. Seguros de México in 1984, and later absorbed the company into the firm, Seguros Inbursa. In 1988 Slim bought the Nacobre group of companies, which trades in copper and aluminum products, along with a chemicals business, Química Fluor, and others. Slim made a large fortune in the early 1990s when Mexico privatized its telecom industry and Grupo Carso acquired Telmex from the Mexican government. In 1990 the Grupo Carso was floated as a public company initially in Mexico and then worldwide. Later in 1990, Slim acted in concert with France Télécom and Southwestern Bell Corporation in order to buy the landline telephone company Telmex from the Mexican government, when Mexico began privatizing its national industries.
1993, he increased his stakes in General Tire and Grupo Aluminio to the point where he had a majority interest. In 1996, Grupo Carso was split into three companies: Carso Global Telecom, Grupo Carso, and Invercorporación. In the following year, Slim bought the Mexican arm of Sears Roebuck. Fábricas de Papel Loreto y Peña Pobre. In 1999, Slim began expanding his business interests beyond Latin America.