Mexican tycoon overtakes Bill Gates as world's richest man

Guardian ^ | Tuesday July 3, 2007 | Fiona Walsh

[COUNTrecount]

Microsoft founder Bill Gates looks to have lost his title as the world's richest man, toppled from top spot by the Mexican telecoms tycoon Carlos Slim.

Three months ago the cigar-chomping Mr Slim quietly slipped past legendary US investor Warren Buffett to take second place in the global wealth league.

Now, thanks to a surge in the shares of his America Movil group, Mr Slim has claimed pole position, according to the Mexican online financial publication, Sentido Común.

It was Sentido Común's founder, Eduardo Garcia, who highlighted Mr Slim's rapidly rising wealth in April, although by his calculations the Mexican had not only beaten Mr Buffett in the wealth stakes by then but also edged past Mr Gates.

Now, however, Mr Garcia says there is no doubt that the little-known Mexican has finally captured the coveted top slot, following a surge in America Movil's shares over the second quarter. This is estimated to have boosted his fortune to an estimated $67.8bn (£33.6bn) - equivalent to 8% of Mexico's gross domestic product - compared with $59.2bn for the Microsoft mogul, putting him in the lead by a decisive $8.6bn.

"When I put Slim ahead three months ago Forbes bumped him up to second place (in world rankings) a few days later," Mr Garcia told Reuters.

[COUNTrecount]

Doing the job an American used to do.

[NonValueAdded]

Such an vibrant economy they must have ... why, Americans will flock across the border in hopes to work for that man. /tu

[Red Badger]

Who said “Talk is cheap”?........

[mtbopfuyn]

Good, now he can invest in Mexico’s future... or keep it all for himself.

[Obadiah]

I’d like to see an in depth, honest assesment of his wealth. Mexico is well known for corruption with wealth being consentrated in the hands of a very select few nationwide.

[P-40]

If you include this guy in the mix, Mexicans are pretty wealthy...on average.

[HEY4QDEMS]

his fortune to an estimated $67.8bn (£33.6bn) - equivalent to 8% of Mexico's gross domestic product - compared with $59.2bn for the Microsoft mogul, putting him in the lead by a decisive $8.6bn.


Well,.... I have dental.

[Sir Hailstone]

Carlos Slim I believe is the moneyman behind Telmex and he bought the CompUSA computer store chain and took it private.

[Mr. Jeeves]

Hey, it's George W. Bush's boss! ;)

Gates has been putting a lot of money into his foundation - I think old-style monopolist Slim isn't quite so interested in charity.

[herMANroberts]

http://losangeles.broowaha.com/article.php?id=962

Don't know how honest or in-depth. FYI.

[TopQuark]

He makes his money in a global economy. Only the local one is available to the poor.

[RexBeach]

Ah, si, Senor Slim. Mucho bueno.

He looks like Michael Moore’s older brother.

His stock has gone to Pluto! It HAS BEEN a good investment.

[TopQuark]

Mexicans are pretty wealthy...on average.

That' why scientists rely on medians rather than averages.

[theFIRMbss]

>Microsoft founder Bill Gates looks to have lost his title as the world's richest man, toppled from top spot by the Mexican telecoms tycoon Carlos Slim

And neither one of these stingy bastards will pay to support a yacht in the races for the America's Cup prize! But Ellison does!

[P-40]

That' why scientists rely on medians rather than averages.

I guess that is why so few scientists become politicians. LOL!

[LEARNED FOREVER]

"Mexican tycoon overtakes Bill Gates as world's richest man"

Don't tell me.Let me guess.

He got his start as an illegal alien.

[VOA]

Doing the job an American used to do.

At least in the case of TracPhone, Senor Slim did the job that
American (companies) REFUSED TO DO.

To follow the lead of economist Walter Williams, Senor Slim made his
money "by pleasing his fellow man".
By making cellphone service a simple service without the indentured
servitude of two-year contracts, credit checks and all the extraneous
Bravo Sierra served up as the standard
"take it or leave it" attitude of Cingular/ATT, Verizon, Sprint, et al.

[newgeezer]

At least in the case of TracPhone, Senor Slim did the job that American (companies) REFUSED TO DO.

I take it you mean TracFone; both my wife and elder son have TracFone. Pay-as-you-go is definitely the way to go for (1) people of limited resources (e.g. my teenage son) or (2) people who don't want to spend much (e.g. my wife).

Thank you for posting; I wondered how this guy earned his $$$$.