Early Life
Carlos Slim Helú was born on January 28, 1940, in Mexico City, Mexico, to Julián Slim Haddad and Linda Helú Atta. His parents were Lebanese Maronite Christians who had immigrated to Mexico. His father, Julián Slim Haddad, established a dry goods retail store, La Estrella de Oriente (The Star of the Orient). Carlos Slim showed an early aptitude for business, learning financial principles from his father and keeping detailed financial records. At age 12, he made his first stock investment. He went on to study civil engineering at the National Autonomous University of Mexico.
Rise to Success
Slim's business career took off in the 1960s. He founded a stock brokerage firm and started investing in various businesses. Through his holding company, Grupo Carso, he acquired stakes in diverse sectors, including construction, retail, and telecommunications. His pivotal move came in 1990 when he, along with partners, acquired Telmex, the Mexican telephone monopoly. He transformed Telmex into a highly profitable enterprise and expanded into wireless services with América Móvil. Slim's strategic investments during economic crises and his ability to overhaul management have been key to his success.
Key Business Strategies
Carlos Slim is known for his long-term value investing strategy, focusing on acquiring undervalued assets and improving their operations. He expanded América Móvil throughout Latin America and diversified his investments across multiple sectors. His strategy included maintaining low debt levels, controlling costs, and reinvesting profits to fuel growth. Slim also emphasized the importance of family and delegated significant responsibilities to his children.
Philanthropy
Slim is actively involved in philanthropy through the Carlos Slim Foundation, which focuses on health, education, and social development initiatives. The foundation supports various projects in Mexico and Latin America. He has stated that he believes in giving back to society and providing opportunities for others. The Museo Soumaya, named after his late wife, showcases his extensive art collection and provides cultural enrichment.