With cash generated in Mexico, Mr. Slim has built the largest cellphone company in Latin America, América Móvil
Carlos Slim Helú in his art gallery down the hall from his Mexico City office.(© Adriana Zehbrauskas for The New York Times)
...The son of a Lebanese immigrant, Mr. Slim became rich by buying companies cheap and turning them around. His ascent through billionaire ranks began after the government sold the phone monopoly Teléfonos de Mexico in 1990 to a group he led with France Télécom and what was then Southwestern Bell....
...Last year, Forbes magazine put him at No. 3 on its list of the world’s richest. This year, it bumped him up to second place, estimating his net worth at $53.1 billion. A Mexican online publication, Sentido Común, which tracks his fortune closely, reports that his companies’ value has grown so fast this year that he has now swept into first place with a fortune of $57 billion, just above Bill Gates of Microsoft....
Mr. Slim makes no apologies for his fortune. Wealth is “like an orchard, a fruit tree,” he said. “You have to distribute the fruit, not the branch. You have to plant more seeds to create more wealth.”...
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