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Mexico's Investment Giant Carlos Slim Tops Forbes List of Billionaires

13 September, 2012

For the second year in a row,Mexico's investment tycoon Carlos Slim has topped the Forbes magazine list of billionaires to emerge as the world's richest person. With assets estimated in excess of $74 billion US,Slim has proven himself to be one of the world's most savvy investors,having grown more than any other billionaire this year.

Slim's holdings include America Movil SAB,which,at more than 225 million wireless subscribers is the largest mobile phone company in the Americas with more subscribers than AT&T and Verizon combined,as well as Telefonos de Mexico SAB,which is Mexico's largest landline phone carrier. In addition,Slim controls the largest TV and long distance operators in Brazil,and a number of other phone and video carriers that are located throughout South America.

But Slim's empire does not stop with the telecommunications industry. In fact,he announced recently that his Grupo Carso SAB arm would acquire as much as 70 percent of Columbia's Tabasco Oil,and will invest more than $8 billion this year in 19 countries,many of which are located throughout Latin America. In addition,Slim owns part of the New York Times Co and Saks Inc. as well as a variety of department stores,mining operations,construction companies and financial organizations throughout Latin America.

In 2010 Slim's gains came mainly from his bank Grupo Financiero Inbursa SAB,which grew more than 40 percent due to expansion of several branches,as well as from Grupo Carsa,which nearly doubled due to anticipation about upcoming spinoffs of its real estate and mining operations.

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Topics: Investment Forbes