{"id":9121,"date":"2023-12-15T03:50:47","date_gmt":"2023-12-15T03:50:47","guid":{"rendered":"https:\/\/topat10.com\/?p=9121"},"modified":"2023-12-15T03:50:47","modified_gmt":"2023-12-15T03:50:47","slug":"a-new-business-mogul-has-joined-the-elite-club-of-super-rich-worth-over-100-billion","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=9121","title":{"rendered":"A new business mogul has joined the elite club of super-rich worth over $100 billion"},"content":{"rendered":"\n<p>Mexican telecom mogul Carlos Slim\u2019s fortune has passed the $100 billion mark for the first time, a dozen years after he was crowned the wealthiest person in the world.\u00a0<\/p>\n<div>\n<p>While the 83-year-old magnate has made few major overhauls of his portfolio in recent years, he\u2019s riding the \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-12\/analysts-say-mexico-s-peso-is-overvalued-traders-don-t-care-mxn\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"sc-bd4ab706-0 dXixpY styledLinkColor \">super peso<\/a>,\u201d which has seen the Mexican currency surge about 14% against the US dollar this year.<\/p>\n<p>Slim has added about $27 billion to his fortune in 2023 \u2014 including $3 billion on Thursday \u2014 to increase his lead as the richest Latin American, according to the Bloomberg Billionaires Index. Overall, he\u2019s slipped in the global ranking to 11th as technology founders have largely taken over the top spots.\u00a0<\/p>\n<p>The bulk of Slim\u2019s $101.5 billion fortune comes from telecommunications company <a href=\"https:\/\/fortune.com\/company\/america-movil\/\" target=\"_blank\" rel=\"noopener\" class=\"sc-bd4ab706-0 dXixpY styledLinkColor \">America Movil<\/a> SAB, which collects almost 40% of its revenue in Mexican pesos and also has exposure to the euro from its operations in Austria. Shares of Slim\u2019s Grupo Carso SAB, which does everything from construction to operating restaurants and shops, have soared 109% this year and are the best performing in Mexico\u2019s benchmark index.<\/p>\n<p>Slim\u2019s businesses this year made one of their biggest bets yet on crude production in Mexico by buying in to the mega oil field project Zama. His Spanish construction firm FCC raised \u20ac965 million ($1.1 billion) selling a 25% stake in a unit to Canadian pension operator CPPIB and is reported to be looking to acquire a majority stake in real estate firm Metrovacesa. In November, America Movil boosted its majority stake in Telekom Austria AG to 58%.<\/p>\n<p>Arturo Elias Ayub, Slim\u2019s spokesman and son-in-law, declined to comment.<\/p>\n<h2 class=\"wp-block-heading\">Weekly Dinner<\/h2>\n<p>Even after transferring some stakes in his companies to his six children, Slim remains active on a day-to-day basis and retains the majority of decision-making responsibilities, according to people familiar with his schedule.\u00a0<\/p>\n<p>Slim still gathers his extended family for a weekly dinner at his Mexico City house. His sons, who were placed in key roles in the group of companies, keep a low profile and haven\u2019t branched out to make their own investments, the people said, asking not to be identified discussing private matters.\u00a0<\/p>\n<p>Now, the third generation is rising in the ranks and have begun to take board and executive seats.<\/p>\n<p>Granddaughter Vanessa Hajj Slim sits on the board of America Movil and Grupo Carso. Her brother Rodrigo heads Sanborns Hermanos and another sibling Daniel sits on the board of Minera Frisco SAB along with cousin Diego Slim.\u00a0<\/p>\n<p>Slim, whose Lebanese parents emigrated to Mexico in 1902, made a career out of making bullish bets on the country at moments of deep crises. He was one of the biggest beneficiaries of a wide-ranging privatization drive in the late 1980s and 1990s, scooping up Telmex and growing it into the behemoth of America Movil, which operates in 22 countries and posted revenue of $42 billion last year.<\/p>\n<\/div>\n<div data-cy=\"subscriptionPlea\">Subscribe to the CEO Daily newsletter to get the CEO perspective on the biggest headlines in business. <a href=\"https:\/\/www.fortune.com\/newsletters\/ceo-daily?&amp;itm_source=fortune&amp;itm_medium=article_tout&amp;itm_campaign=ceo_daily\" target=\"_self\" rel=\"noopener\" class=\"sc-bd4ab706-0 dXixpY styledLinkColor \">Sign up<\/a> for free.<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Mexican telecom mogul Carlos Slim\u2019s fortune has passed the $100 billion mark for the first time, a dozen years after he was crowned the wealthiest person in the world.\u00a0 While the 83-year-old magnate has made few major overhauls of his portfolio in recent years, he\u2019s riding the \u201csuper peso,\u201d which has seen the Mexican currency [&hellip;]<\/p>\n","protected":false},"author":199,"featured_media":9122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123],"tags":[],"class_list":["post-9121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A new business mogul has joined the elite club of super-rich worth over $100 billion | Unlock Informed Choices with Us<\/title>\n<meta name=\"description\" content=\"Mexican telecom mogul Carlos Slim\u2019s fortune has passed the $100 billion mark for the first time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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