Carlos Slim

The Bloomberg Billionaires Index lists Carlos Slim as the 16th-richest person in the world, with a net worth of US$123 billion as of September 2026. This Mexican business magnate, whose career began with investments in government bonds at age 11, controls a vast corporate footprint that spans telecommunications, retail, mining, and industrial manufacturing sectors.

Early Business Foundations

Born in Mexico City in 1940 to parents of Lebanese descent, Slim received early instruction in financial accounting and management from his father. By age 12, he purchased shares in a Mexican bank, and he later earned 200 pesos weekly working for his father's company. He attended the National Autonomous University of Mexico, where he earned a civil engineering degree and taught algebra and linear programming.

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Building the Conglomerate

Following his 1961 graduation, Slim worked as a stock trader. By 1965, his ventures generated enough profit to establish the brokerage firm Inversora Bursátil and the real estate agency Inmuebles Carso. These entities formed the foundation of his conglomerate, Grupo Carso, which he used to manage an expansive range of enterprises across various industries, including soft drink bottling and construction.

Expansion and Strategy

During the 1982 economic contraction in Mexico, Slim acquired multiple flagship companies at depressed valuations. His strategy involved purchasing businesses for their cash flow or long-term capital gains. He expanded into diverse fields such as chemical production, tire manufacturing, and insurance. The resulting labyrinthine corporate structure helped make his portfolio resilient against individual sector downturns within the Mexican economy.

Telecommunications and Global Holdings

The core of Slim's fortune rests on telecommunications, specifically through América Móvil, Telcel, and the service provider Telmex. Beyond his domestic dominance—accounting for 40 percent of listings on the Mexican Stock Exchange—he holds international interests, including a significant stake in the New York Times Company. He operates as an investor and philanthropist, maintaining a detailed ledger of his transactions since childhood.