 |
Carlos Slim (Helu)Mexican media mogul
Date of Birth: 28.01.1940
Country:  Mexico |
Content:
- Biography of Carlos Slim Helu
- Early Life
- Education and Career
- Telecommunications and Global Expansion
- Philanthropy
Biography of Carlos Slim Helu
Carlos Slim Helu, a Mexican media magnate, was born into a humble family. However, his entrepreneurial spirit and subsequent success quickly led him to wealth. Today, Carlos Slim is among the wealthiest people in the world, having topped Forbes' list from 2010 to 2013.
Early Life
Carlos Slim was born on January 28, 1940, in Mexico City, Mexico, to Lebanese parents. His father, Julian Slim Haddad, emigrated from Lebanon to Mexico in 1902 to avoid conscription into the Ottoman Army. Julian and his wife, Linda Helu Atta, got married in 1926, and they had six children, with Carlos being the fifth. Carlos' father had business acumen and successfully ran his own business. He also taught his children how to manage their pocket money wisely. As a teenager, Carlos became involved in stock market investing, with his father's support and guidance in financial literacy, management, and reporting. At the age of 11, Carlos invested in government savings bonds, and a year later, he made his first purchase of bank stocks. By the age of 17, he was earning 200 pesos per week while working in his father's company. Unfortunately, Julian Slim passed away when Carlos was 13 years old.
Education and Career
Carlos Slim obtained his higher education in Civil Engineering at the National Autonomous University of Mexico. During his studies, he also taught algebra and linear programming. Slim later acknowledged that the knowledge he gained in university greatly aided him in managing his business, particularly in reading financial reports. After completing his education, Slim began his career as a stock trader in Mexico, working 14 hours a day. In 1965, the profits from his private investments reached $400,000, allowing him to open his first business venture. In 1967, Carlos married his chosen partner, Soumaya Domit. He named his holding company 'Grupo Carso' by combining the first letters of their names. Following his father's frugal lessons, the young couple lived modestly, reinvesting their profits into expanding their business and making new investments. Slim acquired a network of stores, hotels, and invested capital in the insurance business. But his ventures did not stop there. The young entrepreneur acquired construction, printing, and mining companies. Later, he expanded his presence in the industrial sector, including the production of chemicals, paper, aluminum, copper, cement, auto parts, and more. Slim's business strategy involved purchasing undervalued distressed assets and subsequently selling them at a profit. He acquired undervalued businesses, improved their operations to make them profitable, and then sold them. During the economic crisis in Mexico in the early 1980s, many investors were selling their assets at rock-bottom prices, and Carlos Slim took advantage of the situation. He successfully purchased several promising companies. The number of companies under the 'Grupo Carso' conglomerate continued to grow.
Telecommunications and Global Expansion
The next significant step for Slim was the acquisition of the telecommunications company 'Telmex,' which was previously a state monopoly in the communications sector. During that time, Mexico was undergoing a privatization process for its national industries. Slim spent several years restructuring his new company, making changes in both management and technical infrastructure. He also made the services more accessible by offering financing options for purchasing phones and implementing more affordable tariffs. As a result, the number of subscribers increased significantly. In 1999, tragedy struck Carlos Slim's family as his wife, Soumaya, passed away. They had been happily married for 32 years and raised six children together.
In the late 1990s, Carlos Slim began expanding his business interests beyond Latin America, particularly in the United States. By 2003, he became a prominent figure in the American business scene when he started acquiring stakes in major retailers. He also established 'Telmex USA' and acquired a stake in the mobile communication company 'Tracfone USA.' In 2000, Slim founded the telecommunications corporation 'America Movil,' which is now one of the largest companies in the world, with subsidiaries in many countries. Today, Carlos Slim is the owner of a vast financial empire present in every sector of the Mexican economy. His personal wealth accounts for approximately 6% of Mexico's gross domestic product. The conglomerate includes companies in various industries, such as telecommunications, education, healthcare, industrial manufacturing, real estate, aviation, media, and more.
Philanthropy
Although Carlos Slim's philanthropic endeavors may not have reached the same extent as those of Bill Gates, he has established several charitable institutions, including the Carlos Slim Foundation. With the foundation's support, the Soumaya Museum was opened in Mexico City, housing 66,000 exhibits, including religious relics, works of famous artists, ancient coins, and more. Slim finances various projects in education, healthcare, and culture.
