Skip to comments.Carlos Slim Widens Lead as World’s Richest Man (Bill Gates, Warren Buffet round up top 3)
Posted on 03/09/2011 6:16:26 PM PST by SeekAndFind
When it comes to the race for money, Carlos Slim Helú, the worlds richest man, has surged even further into the lead. The Mexican billionaire accumulated an additional $20.5 billion over the last year, bringing his total fortune to $74 billion, according the Forbes annual rankings of the worlds billionaires.
Mr. Slim has held the top spot since last year, when he pushed aside the two past leaders, Bill Gates and Warren E. Buffett. Still, both men added $3 billion to their wealth since the last Forbes billionaires survey. Mr. Gates, the richest man in the United States, is worth $56 billion, while Mr. Buffett is worth $50 billion, according to the magazine.
Forbes attributes the stunning gains in Mr. Slims estimated wealth to 19 percent rise in the Mexican stock market, a stronger peso and successful mining and real estate spin-offs from his conglomerate, Grupo Carso. The magazine notes that his familys stake in América Móvil, the giant Latin American wireless operator, accounts for 62 percent of his fortune. Mr. Slim also owns significant stakes in other companies, including the retailer Saks and the New York Times Company.
Forbes notes that Mr. Gates, a founder of Microsoft, is no longer the worlds richest man because he has already given away $30 billion to his charitable foundation. He and Mr. Buffett, who runs Berkshire Hathaway, have pledged to give away a majority of their wealth by the time they die, as have 57 other wealthy people who have signed the Giving Pledge.
Bernard Arnault, the chairman of LVMH Moët Hennessy Louis Vuitton, easily remains the richest European at No. 4 on the list. Forbes reports his wealth jumped $13.5 million over the last year, to $41 billion.
(Excerpt) Read more at dealbook.nytimes.com ...
More From Forbes...
This years top 10 on the Forbes 400 list included Lawrence J. Ellison of Oracle, who stayed even at No. 3 with $27 billion, and the two Koch brothers, Charles and David, who shared fifth place with $21.5 billion apiece, as they each pulled in gains of $5.5 billion.
Also in the top 10 are four Walton family members Christy, Jim C., Alice and S. Robson heirs to the Wal-Mart fortune, who had wealth ranging from $19.7 billion to $24 billion and gains ranging from $500 million to $2.5 billion.
Mayor Michael R. Bloomberg of New York took 10th place with $18 billion, a gain of $500 million. Since most of his wealth is tied up in his company, which develops and markets the seemingly ubiquitous Bloomberg terminals, Mr. Bloomberg has apparently benefited as the financial industry bounced back. But Mr. Bloomberg is no longer the richest person in New York City. That honor goes to David Koch.
Among other Wall Street notables, the financier George Soros ranked No. 14 with $14.2 billion. Another hedge fund manager, John A. Paulson, is No. 20 with $12.4 billion. And the financiers Carl C. Icahn and Ronald O. Perelman tied for 24th place, with $11 billion apiece.
The biggest gainer on the Forbes list was Mark Zuckerberg, a founder of Facebook, whose wealth more than tripled to $6.9 billion, putting him in 35th place.
according to the left, it is NOT his money.
“Forbes attributes the stunning gains in Mr. Slims estimated wealth to 19 percent rise in the Mexican stock market, a stronger peso and successful mining and real estate spin-offs from his conglomerate, Grupo Carso.”
What? Mexican stock market? Real estate spin-offs, where, on Mars? Now there is disparity. World’s richest in Mexico? Wow.
Did he ever tell his countrymen to stop running to this country and turning it into an ATM, or even follow the rules?
Mexican businessmen have a partnership with their government. The Mexican ethic holds that if you can be ripped off, you will be, and should be. Adios el sucker gringo yankees.
And just remember Kiddies: Mexico is a poverty stricken country because of the perfidy of the Evil Gringos.
Just ask Carlos Slim.
PS: Forbes and the Slimes fail to mention a few critical points about the alleged business acumen of Sr. Slim. For openers, it's common knowledge that he paid a $25 million bribe to Carlos Salinas de Gortari in 1990 to buy the Telefonos Mexico franchise, formerly a government company. He legally has no competition: Mexican phone rates are far higher than American because no one can compete with him, since he retained the monopoly.
Anyone can end up filthy rich with a state enforced monopoly. Wanna call home? Gotta pay Jabba the Helu.
Stay thirsy my friend
Bet my Toyota runs as well as his.
"You know how to whistle, Slim? You put your lips together and... blow!"
Un-effing-believable; Nature simply doesn’t make women as beautiful as Bacall anymore.
You know when the Left cites how much of America’s wealth is just in 400 peoples’ hands? How much of that wealth is just in 5 Democrat loving billionaires’ hands?
The tens of millions of illegal immigrants from Mexico who demand a handout in America should be pushing for higher taxes and “redistribution” back home.
Not my problem.
Eh. I heard some Indian immigrant in a tea house bragging about all the money she makes day trading in the stock market (thousands of shares) on borrowed money (she just has to be sure to cash out by the end of the day).
Such action adds NOTHING to investment portfolios or development but leads to instability in the market. Her actions should be criminal on several counts.