Skip to comments.Carlos Slim, World’s Richest Man, Gets Richer Supplying ‘Obamaphones’ to Poor
Posted on 10/10/2012 1:53:02 PM PDT by Oldeconomybuyer
A Mexican telecom mogul who holds the title of world's richest man, and one of President Obama's top donors are both getting even richer from the U.S. government program that supplies so-called "Obamaphones" to the poor.
Carlos Slim, who has an estimated net worth of $70 billion, owns a controlling stake in TracFone, which makes $10 per phone for each device it provides to poor Americans. The company, whose president and CEO is Frederick F.J. Pollak, also makes money from extra minutes and data plans it sells to subscribers who get phones and service through the government's Lifeline program. The program, which began in the mid-1980s, has exploded in the past four years after being expanded from supplying landlines to the poor to providing cellular phones.
(Excerpt) Read more at foxnews.com ...
obama outsourcing at its finest....
just another form of corporate welfare
Who will stop the madness?
I wonder how Carlos launders his Obama contributions?
Uncle Charlie didn’t send me a phone. :(
Well, since the federal government isn’t Constitutionally authorized to do ANYTHING like “obamaphones”,
perhaps a return to Constitutional gov’t would do the trick?
Just thinkin’ out loud.
Billionaire oligarch sends phones north to buy voter loyalty.
What could go wrong?
Looks like a win-win for everyone but the taxpayer.
I’m guessing that this Carlos Slim got rich from crony capitalism and corruption. I don’t think Mexico is a model for free market capitalism. Neither is the US anymore. Hopefully starting in January ‘13, that will change.
Everytime we pay a phone bill Carlos Slim gets fatter.
Slim owns monopolies in a country that allows monopolies.
Most other countries don’t allow this, so his wealth cannot be gauged by others.
” Im guessing that this Carlos Slim got rich from crony capitalism and corruption. I dont think Mexico is a model for free market capitalism.”
Yes, he did get rich through cronyism.
I believe when the Mexican telephone company went private he knew the right people and got involved with the Mexican officials in power at the time.
A friend of mine knows his nephew, went to the wedding paid for by Carlos. It took a couple of days for all the parties, fireworks on the beach, etc.
Ewww! WHAT is in her MOUTH?!?!?! It sure isn’t teeth.
Carlos Slim, has to pay the DNC 20%. The Chicago Way.
You guys are nuts. He invests $156,000 in campaign contributions and makes $38 million in phones. I would do that every day.
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