Carlos Slim passes Bill Gates in rich ranks

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MEXICO CITY, July 3 (Xinhua) -- Mexican tycoon Carlos Slim has become the world's richest man with a total fortune of around 67.84 billion U.S. dollars, overtaking the United States's Bill Gates, who has 59.2 billion dollars, the Mexican financial website Sentido Commun said on Tuesday.

The Bolsa Mexicana de Valores, the Mexican Stock Exchange, whose index has quintupled in value since 2002, has created vast fortunes for many local businessmen, it said.

Slim's wealth has soared due to the 26.5-percent surge in his mobile phone operating business America Movil and the 11.3-percent gain in the value of Telmex, Slim's near-monopoly fixed-line telecom company.

This means he is worth nearly 8 percent of Mexico's gross domestic product, and 8.6 billion dollars more than Gates.

In April, Forbes magazine listed Slim as the world's second richest man, with 56 billion dollars, overtaking U.S. investor Warren Buffet for the second place on the world's wealth billboard, but below Gates, founder of the software giant Microsoft.

Sentido Comun said that Slim's wealth soared by 10.8 billion dollars in the April to June period alone.

Mexico has a clear rich-poor divide, and the richest Mexicans have personal fortunes worth more than 123 billion dollars while over half of Mexicans live in poverty.

According to the Sentido Comun website, the country's 38 wealthiest families are holding 14.4 percent of the nation's assets.
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Source::Xinhua - English

Other source::
Report: Mexican magnate richer than Bill Gates | Chron.com - Houston Chronicle
Bangkok Post Breaking News

Mexican tycoon overtakes Bill Gates as world's richest man | | Guardian Unlimited Business
 
SoulFire said:
lol and u think gates did it the right way, think again :P
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What did he do wrong ?? He had near monopoly because PEOPLE chose his software.

They had options like Mac, Linux, and others... but they CHOSE windows.

That is the problem with people.... Whenever anyone or anything becomes big, it is fashionable to pull it down.

First it was MS and Windows in spite of the fact that most of people who post against MS and Windows use Windows.

Now, Apple has been added to the list. The ipod and now the iphone.

sheesh.....
 
What did he do wrong ?? He had near monopoly because PEOPLE chose his software.
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How do we know if this guy's near monopoly was created because no other provider in Mexico comes close to the quality of service of his network?

Skip the prejudices please
 
superczar said:
How do we know if this guy's near monopoly was created because no other provider in Mexico comes close to the quality of service of his network?
Skip the prejudices please
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Hey !! I am not the prejudiced one !!

I didnt say a word abt Carlos Slim :|

I was just referring to MS and Bill Gates.
 
@ czar - Read up.. its Mexico mate ;)

All he needed to do was pay the telephone ministry a few bucks to cancel all licenses. Or shoot down anybody not using his telephones.

As they have a saying.. "Algo trabaja en México" ... "Anything works in Mexico" ;)
 
Economists say that Mexico actually loses money due to the monopolies controlled by Slim and The 100 Families, causing Mexico's per capita income to fall to less than $7,000, leaving the country in poverty.
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Once Upon a Time in Norte America: The Rise of Carlos Slim - BrooWaha Los Angeles

Arias’ ties to Mexico’s telecommunications mogul, Carlos Slim, have disturbing echoes, as several of the country’s recent presidents have been linked to bribery scandals involving European cell phone companies.
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http://www.coha.org/2006/02/04/costa-rica’s-elections-not-the-cleanest-game-around/

Slim is widely recognized in Mexico as having enormous influence over the government. Slim was a major sponsor of the PRI during its rule and was left somewhat devoid of his previous influence when Vicente Fox and his PAN party won a surprising victory. But, this did not last long and Slim quickly managed to get Fox into his camp. But, Slim’s modus operandi is to have Presidents that are completely beholden to him. So, he has been grooming and financially supporting Lopez Obrador during his reign as Mayor of Mexico City.
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Silly Seattle: Slim Chance Mexico Will Change
 
Hmmm... one simple thing: Bill would still be richest if he hadn't already given away billions to charity. Take that into account.
 
Ank1t said:
Didn't see this one coming.. Haven't even heard of him before!
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Then you definitely dont read Business Today. :P

KingKrool said:
Hmmm... one simple thing: Bill would still be richest if he hadn't already given away billions to charity. Take that into account.
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Yes and no. Gates and Milinda Foundation does gave too much in Charity but the total is around 7.93 billion till date. The main reason is that when Gates stepped off the CEO position, he said he wont increase his share holding any more, (instead he decreased it...) which has stagnated his worth over the period.
 
^ which shows he's a real nice guy yea? And yes i dont read business today! Though i read economic times now and again :P
 
^ Hehe.

Ya man. Bill is a very nice guy. I dont know why people have so many problems with him and M$. I do believe that M$ does have gone monopolistic ways to earn money, but it was NEVER in the disinterest of the end customer. So atleast I dont complain. And M$ has given the developer community one of the best tools which are a big reason for M$'s success. The newest and the best till date: .NET!!
 
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