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If you like Carlos Slim's story, you might also like:
Steve Case,
Ray Dalio,
Michael Dell,
Michael Eisner,
Lawrence Ellison,
Bill Gates,
Henry Kravis,
Craig McCaw,
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Dennis Washington

Related Links:
Carlos Slim's Web Site
Fundación Carso
Grupo Carso

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Carlos Slim
Carlos Slim
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Carlos Slim Profile

Financier and Philanthropist

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  Carlos Slim

In 1982, when foreign investors were bailing out of Mexico's troubled economy, Carlos Slim Helú bet on his country's future and invested in a dizzying array of businesses, building an industrial empire, Grupo Carso, that included everything from candy and baked goods to automobile tires, mining and construction -- from department stores and coffee shops to insurance and banking.

In the 1990s, he seized on another unexpected opportunity, investing in Telmex, the formerly state-owned telephone company. Slim focused on the most negligible area of the business, the fledgling mobile phone service. With only 25,000 customers in a nation of 90 million, it seemed an unpromising sector, but Carlos Slim had an extraordinary insight. Over the objections of Telmex executives, he implemented his "Gillette plan," selling mobile phone handsets at a loss, like razor handles, and making a huge profit in prepaid phone cards. Slim's plan enabled cash-strapped customers to use as much or as little phone service as they needed, without paying a monthly bill. By 2007, the company Slim built, América Móvil, had become the largest cellular phone service in Latin America and had made Carlos Slim the richest man in the world.

Now largely retired from business activities, Carlos Slim devotes his energies -- and his vast fortune -- to raising the standard of living throughout Latin America, through a network of foundations that are providing educational opportunities and health services, and building physical infrastructure from the Rio Grande to the Antarctic Circle.

This page last revised on Apr 06, 2012 14:46 EDT
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