The World’s Richest Man is from Mexico City

Carlos Slim was born in Mexico City to a Lebanese immigrant father and a Mexican mother. Carlos was the youngest of 6 children, and early on discovered his talent for making money. By the age of 26 he had already accumulated $40 million.

What is his secret to developing wealth? A focus in the telecommunications industry and investing in the stock market. Recently, Slim’s net worth reached $53.5 billion, surpassing that of Bill Gates, causing Forbes magazine to appoint him as the richest man in the world. This may surprise many who would not assume that given Mexico’s poverty, someone could make so much money.

World Bank data reported that in Mexico an average of around 50% of the population is living in poverty. This leaves many skeptics feeling that Slim has not donated enough of his wealth back into Mexican society. Yet recently he linked up with former US President Bill Clinton and Canadian mining figure Frank Giustra to launch an anti-poverty campaign in Latin America, and in March pledged $6bn for his three charitable foundations.

It seems that Carlos Slim is more invested in learning how to help others make money rather than donating. As he said in a recent interview: “It’s based on my conviction that poverty is not fought with donations, charity or even public spending, but that you fight it with health, education and jobs.”

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