The Warren Buffett Business Magnate of Mexico
#Cosmoread: Warren Buffett of Mexico known as the “Business Magnate” in whole world, Carlos Slim Helu, was ranked as the richest person in the world during 2010 to 2013. Slim is the chairperson and chief executive of telecommunications companies Telmex and America Movil, which are the Latin America’s largest mobile-phone carrier, accounting for around $49 billion of Slims wealth towards the end of 2014.
Slims total corporation comprises a varied portfolio of businesses from a wide spectrum of industries including education, health care, telecommunications, industrial manufacturing, food and beverages, entertainment, technology, and financial services, real estate, retail, sports, airlines, media, energy and hospitality.
Also known as “Slimlandia”, being the owner of 200 companies, his influence is far reaching in Mexico and beyond. Warren Buffett Business Magnate
focuses on the strategy buying troubled companies and tries to turn around their crucial situations before selling his stake at huge profit. Such a model does not necessarily require a specific knowledge of any given sector rather one only has to focus on what is undervalued and what sets the core value for the company.
Warren Buffett Business Magnate graduated from college in 1961 and soon began his career as a stock trader in Mexico. Warren Buffett Business Magnate is a very hard working individual and worked for most hours of the day. The profits that Warren Buffett Business Magnate derived from his private investments reached US$400,000, thus allowing him to establish the stock brokerage Inversora Bursátil. Simultaneously, Warren Buffett Business Magnate also began laying the financial footing for Grupo Carso. It was in 1966, Warren Buffett Business Magnate founded Inmobiliaria Carso worth US$40 million.
In early 1990’s, Slim made a large fortune when Mexico decided to privatize its telecom industry. His firm, Grupo Carso acquired Telmex from the Mexican government and then Grupo Carso was initially floated as a public company in Mexico as well as other parts of the worlds in 1990.
Although Warren Buffett Business Magnate has faced a lot of criticism, which have accused him of practicing monopoly and dominance o the telecom market leading to escalated prices and unemployment, Warren Buffett Business Magnate names himself as the concerned billionaire who is keen on solving the Mexico’s problems. Warren Buffett Business Magnate has clearly stated in one his interviews that Warren Buffett Business Magnate focuses on solving the problems of Mexico.