“I think one of the big errors people are making right now is thinking that old-style businesses will be obsolete, when actually they will be an important part of this new civilization. Some retail groups are introducing e-commerce and think that the “bricks” are no longer useful. But they will continue to be important.” Said By Worlds Richest Businessman & the founder of Mexico’s largest tele company TELMEX.
“Carlos Slim Helu” is now ranked as the fourth wealthiest man on earth and was also elected as the New York Stock Exchange & Administration Council’s first president of the Latin-American Committee (from1996 to 1998).
Early Life & Education :
Carlos Slim was born on 28th January 1940 in Mexico City. His father name Julian Slim Haddad and his mother name Linda Helu. His father Julian was a Lebanese migrated to Mexico City where he started a dry goods store and also he capitalized in real estate in Mexico City. Julian seemed to have been aware that Carlos was going to be good at commerce and would educate him on business dealings.
Slim Always wanted to became businessman , So he never showed interest in studies. he began to develop his business and investment acumen at a young age. A brother to five sisters and brothers, Carlos and his siblings were taught the basics of business by their father at the tender age of 12 years. Although he was only 12 years old when his father died, Carlos inherited his fathers business talents, whose work ethic and business acumen was extraordinary.
At the age of 11, Carlos invested in a government savings bond that taught him about the concept of compound interest. By the age of 12 Slim bought shares in a Mexican Bank and at the age of 17 he for his father’s company and earned 200 pesos a week. Carlos first worked at the family company before studying civil engineering and eventually becoming a stock broker in his own brokerage firm.He passed out in civil engineering from the National Autonomous University of Mexico where he simultaneously taught linear programming and algebra along with pursuing his studies.
Early Career :
his foremost concentration is on construction, real estate and mining businesses. His studies of linear programming gave him a tremendous brink in business world in 1960’s.
In 1960 at the age of 20, Slim started his career as a stock trader. till 1965 he took his own value reached $400,000. he had work 15 hrs in a day. this huge amount of profit range allowed him to invest with group carso.
his natural entrepreneurial instincts couldn’t keep his restricted anymore and Carlos finally started working as a trader. He honed his business skills from his first business and thereafter opened a brokerage firm for every sector, starting from manufacturing to restaurants and construction to retail. Companies in the construction, soft drink, printing, real estate, bottling and mining industries were the focus of Slim’s early burgeoning business.
His studies of linear programming gave him a formidable edge in the business world. In 1972, he had established or acquired a further seven businesses in these categories, including one which rented construction equipment. Later in 1976, Carlos ventured into some other industries like the printing industry and thereafter decided to launch a parent company of his own, with the name of Grupo Galas.
In 1981, Carlos did his homework and decided to buy into the second largest tobacco company in Mexico, Cigatam, who made Marlboro cigarettes. With the money he made, he was able to begin buying companies. In 1980’s he united all his business welfares by forming Grupo Galas as the Parent Company of a Conglomerate that had welfares in industry, construction, retail, mining, food, and tobacco.
In 1982, as the oil price fell down and rate of interest rose worldwide. The Mexican economies started go to downward. At this time, all through the period of recovery to 1985, Slim saw opportunity that he cleverly invested heavily in the Mexican division of American businesses including Reynolds Alumino, General Popo, Hersey corporations, Bimex hotels and Sanborns, a food retailer, as well as Mexican financial services.
From the mid 1960s to the early 1980s, He diversified methodically in numerous industry sectors across the Mexican economy, investing in real estate, then a construction equipment company, and mining companies. in 1985, Slim invested heavily. He bought all or a large percentage of numerous Mexican businesses, including Empresas Frisco, a mining and chemicals company. He is a ruthless businessman, buying companies cheaply, organizing them and quickly driving competition out of business.
Career Launching :
He bought Telmex, the telecommunications company. Along with Telcel, his mobile phone company, they handle most of Mexico’s phone and mobile lines. In 1990 the Grupo Carso was floated as a public company initially in Mexico and then worldwide. In the Nineties, after buying the Mexican division of Sears Roebuck, Carlos began expanding his business empire out of Latin America by setting up Telmex USA and by joining Microsoft to begin a portal called ProdigyMSN.
Carlos’s entry into the world of telecommunications happened as early as in 1990, when he worked with South Bell Corporation and France Télécom. His immense interest in the field made him acquire the very prestigious government telecommunications company Telmex from the Mexican government. He increased his stakes in General Tire and Grupo Aluminio, where he had a widely held interest. In the 1996 Grupo carso split in to three companies; Carso Global Telecom, Grupo Carso, and Invercorporacion.
In 1999, Slim began expanding his business interests beyond Latin America. Though the bulk of his holdings still remained in Mexico, he began setting his sights towards the United States for overseas investments. One of the few business mistakes Carlos made was buying a stake in CompUSA in 1999 for $800 million. It took stakes in cellular telephone companies outside of Mexico, including the Brazilian ATL and Telecom Americas concerns, Techtel in Argentina, and others in Guatemala and Ecuador.
by 2003 when he began purchasing large stakes in a number of major US retailers such as Barnes & Noble , OfficeMax, Office Depot, Circuit City, Borders, and CompUSA. He eyed towards investing the United States where he set up Telmex USA and also acquired a stake in Trafcone, a US cellular telephone company.
By 2006, Telmex operated 90% of the telephones lines in Mexico, whereas Slims mobile telephone company Telcel operates eighty percentages of entire country’s cellphones. In 2013 Slim’s company, Grupo Carso opened Mexico City’s Telcel Theater, which operates in conjunction with his entertainment company. in the same year Slim entered the business of managing Mexican prisons to expand the investments of his construction-finance company with investment of $325Million. Slim and his son increased their presence in Mexico’s music industry, particularly in the retail music industry Claro Musica.
In 2015, Slim formed his own oil company called Carso Oil & Gas. The company was established after shareholders of the subsidiaries of Slim’s business conglomerate, Grupo Carso.One of Slim’s companies announced that Philosophy Jr. Studio, a fashion line for young women, will expand into a standalone retailer chain that will compete with elite fashion retailers across the globe.
Wealth & Fortune :
In 2007, Slim surpassed American investor Warren Buffett as the world’s second richest person with an estimated net worth of US$53.1 billion compared with Buffet’s US$52.4 billion. In the same year of 2007 august He overcome the Bill gates by making $59Billion. also in 2009 he became third richest person on earth. In 2011 he became the world’s richest person with his estimated fortune of $74 billion. In 2014 once again he became the wealthiest person on the earth with $81.6 billion. As in 2017 Survey His Net Worth is approx. $64.3 billion.
Carlos Slim is building Plaza Carso in Mexico City where most of his projects will now share a common headquarters address.
Foundation Carlos slim & Telmex Foundation is A bound ranging Philanthropic Foundation Company. which is Established I memory of his late wife Soumaya Domit. the main motive of the Foundation is to provide the better entertainment along with the whole preparation Of making themselves full fill By providing the Health, Education , Sports. The foundation has organized Copa Telmex, an amateur sports tournament also.
Awards & Achievements :
- In 2003 Ceo of the year & In 2004 Ceo Of the Decade
- Foundation Telmex received in 2007 the National Sports Prize of Mexico for sports promotion
- In 2008 the National order of Cedar
- In 2011, He Got Sorolla Medal For contribution In field of Art & Culture
- In 2012, He got Honorary Doctorate in Public Service
- the Carso dervied from the first 3 letter of Carlos and first two letter of Soumaya is baptized carso.
Having had a heart attack in the late Nineties, Carlos has slowed things down, allowing his six children and their spouses to take more responsibility, although he remains “Honorary Lifetime Chairman” of his businesses.
Do not allow negative feelings and emotions to control your mind. Emotional harm does not come from others; it is conceived and developed within ourselves.” – Carlos Slim