Carlos Slim Helu Biography

02 July 2009

Many people throughout the world have no idea who Carlos Slim Helu is, although he is undoubtedly one of the most famous men in Mexico's history. With a net worth of $60-billion, Helu has for some time reigned supreme as the second-richest man in the world.

His transition upwards from this position is imminent, as the world's number-one richest man, Warren Buffet, recently announced plans to give the majority of his fortune away. This will leave Carlos as the king of all things money. Carlos is a paradox on some levels. He is a jack of all trades, and seemingly a master at them all as well. His talent for making money defies logic, and his holdings continue to grow at an astounding rate.

Carlos Slim Helu was born January 28, 1940 in Mexico City, Mexico. Carlos isn't of Mexican descent; his parents were Lebanese immigrants: Yusef Salim Haddad and Linda Helu.

A young Carlos was the 5th of 6 children in the large family, and was the smartest from a young age. He excelled in school and always remained dedicated to his studies. After high school, he decided he wanted to study engineering and was accepted to the Universidad Nacional Autonoma de Mexico. After graduating, Helu did a complete 180, however, and ended up working in investments.

Helu soon found that his talent for helping companies become profitable was something that would make him extremely wealthy. He gained huge financial success by finding grossly undervalued companies and working to make them profitable.

This tactic, although perfectly legal, is sometimes criticized in the business world. It's known as the “mob mentality,” when a person moves in to “help” the company and eventually takes a substantial piece of the action. This has worked out extremely well for both Helu and the companies involved.

The Mexican government went through a privatization period in 1990, and Helu quickly moved in and took control of Telefonos de Mexico (Telmex). He was immediately criticized for raising the prices soon after he took control of the company. Although, he also worked to improve the phone services in Mexico, and also offered local and long distance calls, Internet services, mobile services, and a telephone directory.

Helu makes his money similar to the way Warren Buffet makes his: through sound investments; but Helu prefers to think of himself as an operator of the companies instead of a mere investor.

Helu also owns Mexico's largest Internet Service Provider and even one of the largest in the United States. From 2006 to 2007, Carlos' wealth jumped from an already inflated $30-billion to an amazing $49-billion.

Helu has branched out and taken a slice of multiple industries, including a 6.4% stake in The New York Times Company, making him the largest shareholder other than the Sulzberger family - the company's owners. Helu is also a renowned philanthropist. The Latin American Development Fund which he heads has a budget of over $10-billion that's used to fund various cultural projects throughout Latin America.


Tags: mexico, philanthropist, warren buffet, mexico city, yusef salim haddad, linda helu, universidad nacional autonoma de mexico, latin american development fund, mob mentality, telefonos de mexico, new york times company, latin america,
Posted In: Biographies,

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M. Lopez - 28 January 2010

"...It is a litlle ironic that in a country that a big porcentage of the population lives in poverty, you can find the 1st or 2nd richest person in the world. I do undertand and i think Mr. Slim is a very smart man. I also have lots of respect for him...."

M.Mazharul Mursaleen - 02 January 2010

"...Congratulation on your success . You are there only because of your talent and hope i'll beat your record sumday :( i love it !..."

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