A Mexican telecoms tycoon has toppled Bill Gates, the Microsoft
co-founder, as the worlds richest man after amassing a $67.8
billion (£33.6 billion) fortune.
Sentido Común, a Mexican financial website, has calculated that
Carlos Slim Helú, a 67-year-old turnaround specialist, is worth
$8.6 billion more than Mr Gates.
The rocketing share price of América Móvil, one of Mr Slims
telecoms companies, helped to push him into first place, according
to Sentido Comuns founder Eduardo Garcia.
Shares in América Móvil, Latin Americas biggest telecoms company,
rose more than 26 per cent in the three months to June 30. Telmex,
another of the tycoons telecoms companies, rose 11 per cent and
Grupo Financiero Inbursa, his bank, jumped by more than 20 per
cent. Microsoft stock went up almost 6 per cent.
It is the second time that Mr Gates has been reported to have lost
his crown. Three years ago Veckans Affärer, a Swedish magazine,
said that Ingvar Kamprad, the Ikea founder, had become the worlds
richest man.
Unlike Mr Gates, who stepped away from the day-to-day running of
Microsoft in 2000, Mr Slim remains actively involved in his
companies. His sons, Carlos Slim Domit, Marco Antonio Slim Domit
and Patrick Slim Domit, run businesses within the group.
Telmex operates 90 per cent of the telephone lines in Mexico.
Another Slim business, Telcel, supplies almost 80 per cent of the
countrys mobile phones. Mr Slim acquired Telmex for $1.8 billion
in 1990.
Mr Slim also owns Grupo Carso, an industrial company, with
interests in shops and restaurants, most of which he bought during
the economic crisis that hit Latin America in the 1980s.
The son of a Lebanese immigrant shopkeeper, Mr Slim was widowed in
1999. The name Carso comes from the first three letters of his name
and the first two of his late wife, Soumaya Gemayel.
