"Carlos Slim: profile of the world's richest man"

[WhiskeyGirl]

Carlos Slim, the Mexican tycoon who has never used a computer and wears a plastic wristwatch, has beaten Bill Gates to the top of the Forbes list of The World's Billionaires.

Each Monday, the richest man in the world likes to sit down to a home-cooked Mexican meal of quesadillas or chile relleno in his simply-furnished family home.

With just six bedrooms and a modest swimming pool, from the exterior the house is worlds apart from the sprawling mansions inhabited by Bill Gates – whom he yesterday beat to the top of the Forbes list of The World’s Billionaires.

But inside the clues of Mr Slim’s vast personal fortune of $53.5bn (£35.8bn) are all around: the walls are adorned with the paintings of Van Gogh, Renoir and Diego Rivera, while the rooms are dotted with sculptures by Auguste Rodin – of which Mr Slim is the world’s foremost collector.

Mr Slim’s vast family empire controls more than 200 companies spanning industries including banking, telecoms, road-building and restaurants.

His influence is all-encompassing in his homeland of Mexico, and it is rapidly spreading across the border into the USA and beyond.

Last year he extended his tentacles into North America when he announced plans to inject £250 million into the struggling national newspaper, the New York Times, in which he already owned a 6.4 per cent stake.

Mr Slim’s interests across the border include a 1 per cent share of Citigroup, the troubled banking conglomerate, which he bought last year.

The son of Lebanese immigrants is known for his philanthropy – though not on the same scale as Mr Gates or Mr Buffett, whose charitable efforts he has previously mocked.

Most recently, he joined forces with Bill Clinton, the former US President, and Frank Giustra, the Canadian mining tycoon, to launch an anti-poverty campaign in Latin America.

Earlier this month he pledged $6bn for his three charitable foundations.

Meanwhile, his infrastructure firm, Ideal, is working on a project to develop a shopping centre, schools and a hospital in Mexico City.

But the billionaire has made it clear that he has no plans to retire from business to concentrate on charitable work, as Mr Gates has done.

In a recent interview, he said: "Wealth is like an orchard. You have to share the fruit, not the trees."

more here - http://www.telegraph.co.uk/finance/7419211/Carlos-Slim-profile-of-the-worlds-richest-man.html

Hmmm...NYT struggles for readership

Obama announces sales of Citi...

Is that TARP money paid off yet?

For some reason, Obama seems to be killing the trees of prosperity on Main Street, in favor of welfare for the masses, and wealth for banks, hedge funds, and large global players.

Why is that?