Carlos Slim and his “Magic” in Business

Carlos Slim is a Mexican business magnate, investor, and philanthropist. Known as currently the richest man in the world. Carlos Slim has a witty mind and a true businessman. Today, Slim is the chairman America Movil. His money as of June 2013 is at US$66.8 billion. He is the world’s richest man and has beaten Bill Gates, he holds the record of the most wealthiest person worldwide. His extensive knowledge in the business world made him number one. His assets are unbelievable and his business ability skills are admirable.

He had humble beginnings, but in 1972 Carlos Slim had established or acquired a further seven businesses in these categories, including one which rented construction equipment. By 1976. he branched out by buying a 60% interest in a printing business. In 1980, he consolidated his business interests and he formed the Grupo Galas as the parent company of a conglomerate that had interests in industry, construction,mining, retail, food, and tobacco.

The Mexican economy in 1982, relied on oil exports, contracted rapidly as the price of oil fell and interest rates rose worldwide. Banks and other businesses were nationalized, crippled or collapsed and the peso was devalued. However, during 1985 Carlos Slim started to invest again. With his growing investments, he’s able to make himslef more richer everyday. Being business minded and having the right “perspective” is really imperative to be successful. Carlos Slim’s ability to “foresee” is also one of the reasons of his success.

He bought outright, or a large percentage of, numerous Mexican businesses, including Reynolds Aluminio, General Popo (General Tire’s trading name in Mexico), Bimex hotels and Sanborns, a food retailer. He also acquired a 40% interest in the Mexican arms of British American Tobacco and 50% of that of The Hershey Company. He moved into financial services and made profits. His money grew and evidently invested in huge businesses.  The tobacco business was a very profitable move for him too. 

Carlos slim was also recognized by Guinness World Records as having the most participants of any such tournament in the world, a record which it extended in 2008. A lot of people were astonished, being in the book of records is indeed a huge achievement. Carlos Slim was also known as a man of thinker, he thinks ahead. Maybe that’s the  reason why he knows a lot about business. Being successful in business is indeed a huge victory.

Slim was mentioned in Forbes’ World’s Biggest Givers after donating $4 billion to his foundation. He wants to help in any way he can to others who are in need. Indeed, it’s a very admirable move, well, as all “rich people” are fond of doing. Carlos Slim is not only one of the richest people, he is also a philanthropist. A lot of medical researches were funded because of these rich people. It helps people all around the world. Carlos Slim, is one of those people who truly helped not only in his area of responsibility but he helped the whole world. A businessman and a Philanthropist, that he is.

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