A Look at Carlos Slim Helu
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The third richest person on the Forbes list, and the first non-American to make an entry, Carlos Slim Helu owes his 30.0 billion net worth to the cell phone market as his business Telecom has only rocketed isn the last few years. Today Carlos Slim Helu has his hands in almost every imaginable communications service through Telecom ranging from cell phone networks, to satellite communication, to wireless internet, if there is a communication company involved in Mexico, most likely Helu is involved somehow.
Helu owns a monopoly on the Mexican and Latin American telecom markets with his business offerings of Telemex, Telecil, and American Movil. Almost 90 percent of the Mexican telephone market is owned and dominated by Telemex alone so it is easy to see where Helu gets his money from, but that alone was not enough for him as he continued to purchase companies involved in not just land phone lines, but also in internet providers for the Mexican country. His cell phone company Telecil owns 80 percent of the cell phone market as well. Due to his large stock holdings and investments he served for a time period as president of the Mexican Stock Exchange and was president of the Latin American branch of the New York Stock Exchange.
His investments and activities range outside of Mexico as he held the largest amount of stock in MCI up until 2005 when he decided to finally sell to Verizon communications. Helu has made sure to get involved in many American stock holdings for American companies on and off throughout the year reinvesting his money and selling when he deemed the time was right helping him to maintain his position on the list of richest people in the world steadily for years. In fact, his financial-industrial empire owned the chain of CompUSA computer manufactures until its bankruptcy in 2007, but the bankruptcy did little to ruffle Helu as he has stayed financially involved in almost any type of technological field in the modern world.
Today Helu spends most of his time contributing and spearheading the World Education & Development fund which desires to improve infrastructure, health, and education throughout the world in underdeveloped countries. He is able to stay involved in this non-profit organization thanks to his uncanny ability to ascertain when to invest in business venture, such as investing in Apple, right before it’s iMac took off in 1997. Helu credits his smart investment chooses to his friend and author the futuristic writer Alvin Toffler. Today, as his investments across the world in companies such as SBC and Apple as well as his own businesses Telemex and Telecil continue to grow, he can rest assured of his place on the richest people in the world list.
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