A New “World’s Richest Man?”

by Ryan Guina

Forbes reports that Carlos Slim Helu (known as Carlos Slim), the Mexican telecom magnate has just surpassed Warren Buffet as the world’s 2nd richest man. Slim’s net worth currently out-paces Buffet’s net worth $53.1 billion to $52.4 billion.

Slim has watched his net worth grow $4 Billion in the last 2 months as shares of one of his main investments, Carso Global Telecom, has risen 15%. Not a bad 2 months!

Slim is not without his detractors as he has a near monopoly on the Mexican cell phone industry and owns a large portion of Mexico’s land line telephone system, as well. Slim is extremely influential in the entire Latin-American telecommunications industry.

Slim has also commented negatively on Warren Buffet’s and Bill Gates’ commitment to philanthropy. In response to comments about Gates and Buffet he said, “Poverty isn’t solved with donations.

But, will Slim surpass Bill Gates? Gates is worth an estimated $56 billion, so he is well within striking distance for Carlos Slim. Slim has also grown his empire the fastest out of all the billionaires on the Forbes list, including increasing his net worth 64% last year. While Gates and Buffet concentrate on giving it all away, Slim is focused on growth. I think it’s only a matter of time before the torch is passed.

Published or updated February 27, 2011.
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