Mexican businessman,Carlos Slim,was announced the richest man in the
world,by Forbes magazine,
He has half a billion more dollars than Bill Gates and a
staggering 6.5 billion more than Warren Buffett.
When the prestigious
American business magazine released its 2010 list,the Mexican telecoms tycoon
became the first person from a developing country to be the world's
Slim's holdings in cellphone businesses recovered value
recently,lifting his estimated fortune to $53.5 billion,said Forbes. This moved him past Microsoft founder
Bill Gates and investor Warren Buffett.
The world's richest man first
showed an interest in business ventures when he was just 10 years old. The young
Slim would sell drinks and snacks to his family to earn a few pesos profit when
As a child,he even used to keep accounts of what he earned and
spent,and invested in government bonds.
At 70 years old,more than 50
years later,Slim has built a wealth of a guesstimated $53.5 billion and his
widespread business empire boasts a massive range of top Mexican department
stores,telecoms operators,hotels,restaurants,oil services,construction and
banking. He also has investments internationally with retailer Saks and the New York Times Co.
Some have said that
he has used monopolistic control to build his fortune,but Slim himself has a
simple view on wealth:
"Wealth is like an orchard," he said to a reporter
in 2007,"with the orchard,what you have to do is make it grow,reinvest to
make it bigger,or diversify into other areas."
This wise advice from
Slim should be followed,along with his recommendations recently that now is
"the moment to invest" in Mexico.
He praised the Mexican government's
economic policies and said the favorable exchange rate,low interest rates and
promotion of fiscal stability,all add up to make for a great opportunity to invest in Mexico.