Mexico's Slim named 'world's richest' person
By MARK STEVENSON (AP) – 1 hour ago
MEXICO CITY — Mexico's Carlos Slim, the son of an immigrant shopkeeper who amassed a $53.5 billion fortune and bought a major stake in the New York Times, became the first person from a developing nation to be named the world's richest person.
Slim, a telecom magnate, edged out U.S. billionaires Bill Gates and Warren Buffet to earn the top spot on Forbes' list of the world's richest people — the first time a non-American has topped the list since 1994. The jump in position comes following a year in which Slim's cell phone holdings rebounded in value.
Forbes' employee Keren Blankfeld said that never before has someone from the developing world earned the top spot.
Arturo Elias Ayub — an executive at Slim's Telmex telephone company and the billionaire's son-in-law — expressed satisfaction that a Mexican businessman is now at the top of the list.
"The reaction is one of satisfaction, that this confidence in Mexico exists, and this confidence in our group's companies," said Elias Ayub, who frequently acts as Slim's spokesman.
But he said the 70-year-old magnate is not breaking out the champagne.
"This is a number brought out by a magazine that doesn't concern us, or worry us," said Elias Ayub, echoing Slim's 2007 comment about the top spot that had eluded him for years: a Spanish phrase — "me es impermeable" — that roughly translates as "I'm impervious to that."
Slim is known for wearing inexpensive suits and rarely using the computers his companies sell, preferring old-style paper notebooks. A baseball fan, his indulgences are largely limited to cigars and diet soft drinks.
While he owns — either personally or through his foundations and museums — an impressive collection of art, including works by French sculptor Auguste Rodin, he works out of a set of somewhat dowdy, 1970s-style offices.
A civil engineer by training, he has bought up troubled or government-owned companies of all types, fixed them up and resold them for huge profits.
That kind of thrifty eye for undervalued businesses has served him well, especially after the market downturns in recent years.
"In periods of crisis, he has always invested, and now we are beginning to see the fruits of that," Elias Ayub said.
Blankfeld said the 2010 top-ten list — which includes Slim, two billionaires from India and one from Brazil — reflects the increasing presence of developing nations.
Gates' and Buffet's donations also played a role in their decline to the number 2 and 3 spots. "A big reason for that is they are both very philanthropic," said Blankfeld.
Copyright © 2010 The Associated Press. All rights reserved.

Bluty: I think your nemesis ex-pat Jesuit coadjutor Fidel is richer. Just think of it, he owns a whole island and the only one he has to share it with is his doppelganger brother!

[QUOTE=Blutarsky]
Mexico's Slim named 'world's richest' [I]person
By MARK STEVENSON (AP) – 1 hour ago
MEXICO CITY —
Gates' and Buffet's donations also played a role in their decline to the number 2 and 3 spots.


"A big reason for that is they are both very philanthropic" said Blankfeld.


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Subtle point here... I've heard Slim isn't all that generous with his money.

I guess his actions providing jobs for hundreds of thousands of people which provides food and healthcare for MILLIONS isn't enough for you.

What is wrong with some people?

You missed the point. How many people do you think Bill Gates provides with food and healthcare? How about Warren Buffet?

Yet they still give away Millions upon millions of dollars every year, to provide a better standard of living to MILLIONS of people.

Both have many multimillionaire employees as well, due to their generosity.

Slim is a cheapskate. He's known for not paying his employees very well. Don't believe me, look it up.

What is wrong with some people???

Even though he has more than what's imaginable the bottom line is that it's still HIS money. I would never let anyone tell me how to use my money and as such I would never tell someone else what to do with theirs.

[QUOTE=cibaeño75]

[/QUOTE]

Even though he has more than what's imaginable the bottom line is that it's still HIS money. I would never let anyone tell my how to use my money and as such I would never tell someone else what to do with theirs.

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I agree with you 100%. It's his to do what he pleases.

There are scores of folks with more money than they could ever spend, and a great portion of them give away a substancial amount every year.

Other folks are stingy as hell. Like Slim. More power to him.

Bill Gates and Warren Buffet have fondations and endowments for their own personal reasons.....Usually that reason is Taxes and Public Relations.

Carlos Slim is under no obligation, moral or otherwise, to fund what you consider worthy charities.

I do know that Carlos Slim, by his actions, feeds, clothes, educates and provides healthcare to more people than any charity you can ever think of.

You have the looter mentality that is so prevalent today.

anthonyc, are you on hallucinogens with this question?

I guess his actions providing jobs for hundreds of thousands of people which provides food and healthcare for MILLIONS isn't enough for you.

those are called EMPLOYEES. without them , he is nothing. you write as though they are benefitting from some altruistic largesse. they WORK for him. is that too abstruse for you to grasp?

True about Carlos Slim and his many charities and I quote:

"Most 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's... my conviction that poverty is not fought with donations, charity or even public spending
Carlos Slim

And he also said:

"Wealth is like an orchard. You have to share the fruit, not the trees."