richest people in mexico

You may opt-out by. [28] In April 2015, Slim bought the Marquette Building in Detroit and purchased PepsiCo Americas Beverages headquarters in Somers, New York, for US$87million. Also excluded -- but noted in the accompanying story -- are carpetbaggers like media baron Ted Turner, the state's largest individual landowner. [19], Slim earned windfall profits in the early 1990s when Mexican government began privatizing its telecom industry. Many of them are eager to avoid New Mexico's relatively high taxes on personal income and gross service business receipts, anyway. Chico Pardo returns to the ranks after falling off in 2020. Carlos Slim Helu 2. Read on to know how many billionaires Germany has. As many banks were struggling and foreign investors were cutting back on investing and scurrying, Slim began investing heavily and acquired many Mexican flagship businesses at depressed valuations. Fortune: 81.2 billion dollars. He had a clear vision for the new company after seeing that the manufacturing sector lacked, Read More 10 Things You Didnt Know About Rahul GargContinue, If you are familiar with ancient Greek mythology, then you may recall a particularly vivid scene in Homers Odyssey. The middle class forms a small . When asked to explain his sudden increase in wealth at a press conference soon after Forbes annual rankings were published, he said, "The stock market goes up and down", and noted that his fortune could quickly drop. Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. At the age of 32 years, Arango did not know he could be Mexicos seventh-richest person. 3, $10.9 billion); and Alejandro Bailleres Gual (No. Peter Lynch is one of the most successful and well-known investors of all time. In North Dakota, the median house price is $201,500, making owning a home more expensive. In fact, some might say that Mexico is home to some of the wealthiest places in the world. 1. Companies in the Mexican construction, soft drink, printing, real estate, bottling and mining industries were the initial focus of Slim's burgeoning business career. "World's Billionaires List: The Richest in 2021. Some love stories are everlasting and serve as inspiration for all lovers for generations to come. Corrales Village is one of New Mexicos wealthiest cities. The wealthiest people in Mexico live in the capital city of Mexico City, as well as in the surrounding metropolitan area. Now the president-elect says he's 'wonderful', "Mexico's Carlos Slim Joins Ranks of World's Biggest Philanthropists", "From Azim Premji to Carlos Slim: The World's Most Generous Billionaires Outside Of The U.S.", "Slim: el Museo Soumaya Plaza Carso, para acercar el arte a quienes no pueden viajar", "F1: Sauber Signs Perez, Sponsor Telmex For 2011", "Motor racing-Mexico's Perez to race for Sauber", Hillary Clinton Follows Christie to Mexico for Carlos Slim Event, "Inauguration of Marian Plaza in the Basilica of Guadeloupe- Mexico", "Golden Plate Awardees of the American Academy of Achievement", "10.12.11 Galas, Appeals, and Children's Rights", Honorary Doctorate in Public Service by George Washington University, https://en.wikipedia.org/w/index.php?title=Carlos_Slim&oldid=1140054184, Mexican businesspeople in the oil industry, Mexican telecommunications industry businesspeople, National Autonomous University of Mexico alumni, Recipients of the National Order of the Cedar, Pages with non-numeric formatnum arguments, Pages containing links to subscription-only content, Articles with dead external links from June 2016, Articles with dead external links from August 2022, Wikipedia pending changes protected pages, Wikipedia articles that are excessively detailed from November 2020, All articles that are excessively detailed, Wikipedia articles with style issues from November 2020, Articles with unsourced statements from October 2020, Articles lacking reliable references from April 2011, Articles with unsourced statements from September 2022, Pages using Sister project links with wikidata namespace mismatch, Pages using Sister project links with hidden wikidata, Pages using Sister project links with default search, Creative Commons Attribution-ShareAlike License 3.0, Entrepreneurial Merit Medal of Honor in 1985 from Mexico's, Fundacion Telmex received in 2007 the National Sports Prize of Mexico for sports promotion, In 2008, his philanthropy was recognized with the award of, On 20 May 2012, Slim was awarded an honorary doctorate in public service from, The New York Times Syndicate & News Service, This page was last edited on 18 February 2023, at 05:27. This is another Mexican billionaire whos made his fortune in the mining industry. Slim has once again surpassed Warren Buffett as the worlds wealthiest person. However, Slim's losses were relatively minor compared to the losses other Mexican billionaires suffered over the same time frame. He owns majority shares of Grupo Mexico and has made the final decisions for it since 1994. [19] Julian and Linda had six children: Nour, Alma, Julin, Jos, Carlos, and Linda. The son of Lebanese immigrants and a cousin of Carlos Slim Hel, Alfredo Harp Hel diversified his fortune after receiving a hefty payout from Citigroup's 2001 acquisition of the Mexican bank he formerly owned, Banamex. A weaker Mexican peso and a slide in the shares of Slims biggest holding, telecom giant Amrica Mvil, pushed his net worth down $12 billion compared to 2019. Slim's wealth is the equivalent of roughly 5% of Mexico's annual economic output. She was fortunate enough to inherit a generous net worth from her rich father, who left her ownership in the flourishing beer industry. [78] His real estate company constructured Plaza Carso in Mexico City, where most of his business ventures share a common headquarters address. The Richest People In New Mexico. Furthermore, all of these countries have low levels of corruption, making them some of the most stable and prosperous places in Latin America to live. . Popular Stories Right now. de C.V., the parent company of Jose Cuervo and other liquor brands, went public in a 2017 IPO that raised $900 million. According to 24/7 Wall St., which used five-year estimates of median household income from the U.S. Census Bureaus 2019 survey, Southlake, Texas, a city known for its exemplary public schools (one of which has won eight football state championships), is the richest city in. The Slim Domit family is the richest family in Mexico, which is largely attributed to Carlos Slim Helu's fortune. How many billionaires in this African country? The Hamptons are a popular vacation destination in the United States. She is one of the famous businesswomen in Mexico. The games are also broadcast on the Internet through UNO TV, offered by Telmex. A TikToker faced backlash over a video about Spanish architecture in He is now the proud owner of America Movil and 17 percent of the New York Times. Thats nearly 25% less than the $133 billion that Mexicos billionaires were worth last year. [citation needed] Butaccording to his spokesmanhe devoted US$4billion, or roughly 5%, to his Carlos Slim foundation as of 2011. Germn Larrea Mota Velasco 3. Buenos Aires and Sao Paulo are far superior cities in terms of cosmopolitanism, influence, and quality of life, but Uruguays Montevideo is one of the most influential cities in the country. Though his fortune has grown, hes fallen to 16th richest person in the world, from No. He served as CEO of several banks for more than three and a half decades. These are Mexicos internal factors. Rent in Buenos Aires, according to Rentista, is around $900 per month, which is quite steep in Latin America. Industry: Telecom. With Bernard Marcus being the richest person in Georgia, here is the top 18 richest and wealthiest billionaires in this state, according to Forbes. [86] Two years after Slim's failed bid to take over the company, mainly due to political intervention and Slim's paucity of interest in purchasing the company, Slim's America Movil SAB began offering 2.25billion euros. Good luck! Knowinsiders.com's latest ranking: Top best hospitals, largest hospitals in countries around the world for citizens and visitors in the US, UK, Canada, Australia, New Zealand, India, etc. [64], On 29 March 2007, Slim surpassed American investor Warren Buffett as the world's second richest person with an estimated net worth of US$53.1billion compared with Buffett's US$52.4billion. [3] On 16 May 2013, Bloomberg L.P. ranked Slim the second-richest person in the world, after Bill Gates. On March 27, 2020, the cash-strapped firm said it drew down $1 billion from its revolving credit line as a result of the Covid-19 outbreak. Yes, there are indeed wealthy places in Mexico. [14] Graduating as a civil engineering major, Slim has stated that his mathematical ability and his background of linear programming was a key factor in helping him gain an edge in the business world, especially when analyzing the financial statements of prospective companies when making business decisions and potential investment acquisitions.[15][22][23]. [19] As a prominent businessman and wealthy investor who remained a reputable pillar within the Lebanese Mexican community, Julian was known for his shrewd business acumen and his astute knack when making investments during bad economic cycles (which occurred frequently in Mexico). 3, $11.0 billion); and Alejandro Bailleres Gual (No. [94] Though Slim has not gone as far as Gates and Buffett in pledging more than half of his fortune, Slim has expressed firm support for philanthropy and has advised budding entrepreneurs that businessmen must do more than givethey "should participate in solving problems". [47][48], In July 2013, Slim's company America Movil invested US$40million in Shazam, a British commercial mobile phone-based music identification service for an undisclosed share of ownership. "Alberto Bailleres Gonzalez & Family. The average home value in Rhode Island is $180,300, which is $8,000 less than the national average. [9] As of 2016, he is the largest single shareholder of The New York Times Company. The states of Mexico, Jalisco and Guanajuato were also found to be among the wealthiest in the country, with GDP per capita of $14,532, $13,209 and $12,532 respectively. [19] Telmex sponsored the Sauber F1 team for the 2011 season. 2, $27.0 billion),Ricardo Salinas Pliego (No. Guadalajara, MX. Mexico's Richest People 2020: After Coronavirus Tanks Fortunes - Forbes This billionaire, and his father, is responsible for some of Mexicos biggest economic gains. 20 Richest Cities in Mexico | Ventured For that he can thank his familys nearly 75% stake in appliance retailer and lender Grupo Elektra. Four Mexicans remain on the list of the 500 richest individuals in the world, even though the global economy appears to be headed for a recession due to the contraction caused by the COVID-19 pandemic and the war in Ukraine. He ranks No. The Slim Domit family is the richest family in Mexico, which is largely attributed to Carlos Slim Helu's fortune. The state of Sonora is considered one of Mexico's wealthiest states with a GDP per capita higher than average by about 15%. Mexico is a country that is located in North America. "Juan Francisco Beckmann Vidal & Family. In March 2012, Amrica Mvil acquired the broadcast rights for the Olympic Games in Sochi 2014 and the Brazil 2016 for Latin America. He's among the 25 richest people in the world. She has a long and successful history, Read More 10 Things You Didnt Know About Kim ReynoldsContinue, In 2015, Rahul Garg took the bold step of resigning from Google Asia to establish Moglix, a B2B platform. [81], Slim's growing wealth has been a subject of controversy, because it has been amassed in a developing country where average per capita income does not surpass US$14,500 a year, and nearly 17% of the population lives in poverty. Top 20 Richest Countries In the World 2023 - By GNI Per Capita. Slim spent US$13million to acquire the Mexican insurance agency Seguros de Mxico in 1984, and later subsumed the company into the firm, Seguros Inbursa. The article said, "While the market value of his stake in publicly traded companies could decline at any time, at the moment he is probably wealthier than Bill Gates". 3 last year, as shares of his mining firm Grupo Mexico more than doubled in value. A descendant of Don Jose Antonio de Cuervo, Beckmann today owns 85% of the world's largest tequila producer and Jose Cuervo maker, Becle. Unemployment rates in Virginia are estimated to be at 4% while poverty rates are estimated to be at 11.1%. Best Hospitality And Hotel Management Schools In The World For 2022. ", Market Screener. Some of his most profitable companies include: Antonios most profitable financial move was selling his stakes at different banks to buy controlling shares at Mexichem. In addition, they also have a high standard of living. Stock prices had tumbled as well. In 2010, the state of New Jersey had the tenth highest population density of any state in the United States, with 8,958,013 residents. How does . Karen Virginia Beckmann Legoretta ($2.7 billion) occupied the 9th position among the top 10 wealthiest people in Mexico. Who are the richest people in Mexico and what do they do? The post below presents a list on the richest in the country. The chemical industrial power is now under the able control of his children as Antonio enjoys his retirement blissfully. Where do people go on holiday? They didnt stop there; they started acquiring other retailing franchises under the family company banner: CIFRA. Ballieres chairs mining group Industrias Penoles, whose shares have risen about 50% in the past year. de C.V. (GMEXICOB.MX), Mexico's largest mining and infrastructure company, which also owns the largest railroad company in Mexico. The 10 Richest People in Mexico in 2022 - moneyinc.com The 10 Richest People in Mexico (Updated for 2020) - Money Inc During the same year, Slim sold off his entire stake of Porcelanite for US$800 million, a Mexican tile-maker that he acquired back in 1990. German Larrea Mota Velasco rose to become the second richest Mexican billionaire this year, up from No. Lisa is also an editor on the Breaking News desk and oversees stories of national significance. Some parrot species such as the African Gray Parrot, Yellow-naped Amazon are known for their ability to understand human language better. The Mexican Congress. It went public in 2017. [70] Between 2008 and 2010, Slim more than doubled his net worth from $35 to $75billion. State unemployment is a significant issue in the state. [20], In August 1926, Julin Slim married Linda Hel Atta. Juan Domingo Beckmann Legorreta ranked 6th with a personal wealth of $4.4 billion, followed by Rufino Vigil Gonzalez with $3.6 billion. Others made their fortunes in mining, finance, and retail. "Federal Telecommunications and Broadcasting Law," Page 57. The Mexican states of Nuevo Leon, Tamaulipas and San Luis Potosi are the wealthiest states in the country, according to a study by the Mexican Businessmens Association. Read on to know The Full List of Mexico's Billionaires In 2023 - Who Are The Richest People In Mexico? Germn Larrea Mota Velasco is the Chairman and CEO of Grupo Mxico S.A.B. Slim owns a second mansion in New York City at 10 West 56th Street, which he bought in 2011 for US$15.5million. He is richer than all the other Mexicans by a long shot. Forbes 35th Annual Worlds Billionaires List: Facts And Figures 2021, Operation Wealth Speed: What A Record Number Of New, Self-Made Billionaires Says About Capitalism, These 11 Colleges Have Produced The Most Billionaire Alumni, The Covid Billionaire Who Wants To Put Undocumented Immigrants In Americas Finest Colleges, Meet The 40 New Billionaires Who Got Rich Fighting Covid-19. Others made their fortunes in mining, finance, and retail. 3, $11.0 billion); and Maria Asuncion Aramburuzabala (No. "Share of population living n poverty in Mexico in 2020, by state.". As of the end of 2021, there are 13 billionaires in Mexico. She's a California native who grew up in the Central Valley. Carlos Slim Hel keeps his long-held spot as Mexicos richest person. Silicon Valley: Definition, Where Is It and What It's Famous For. The Hamptons are a group of East End communities in Long Island, New York, located to the east of you. He taught algebra in a Mexican University before going into the telecom business. Others made their fortunes in mining, finance, and retail. [84][5][7], According to Celso Garrido, economist at the Universidad Nacional Autnoma de Mxico, Slim's domination of Mexico's conglomerates prevents the growth of smaller companies, resulting in a shortage of paying jobs, forcing many Mexicans to seek better lives in the U.S.[85], Slim was criticized by the Dutch minister of economic affairs, Henk Kamp, in 2013 for attempting to expand his telecommunications empire beyond the Americas by Amrica Mvil's buy-out offer to KPN, a Dutch landline and mobile telecommunications operator. He also licensed the Saks name and opened the Mexican arm of Saks Fifth Avenue retailer in Santa Fe, Mexico. Karen Virginia Beckmann Legoretta ($3.2 billion) occupied the 9th position among the top 10wealthiest people in Mexico. He was an active businessman and worked in one of Mexico's top intelligence agencies. [9] He later expanded his business operations and commercial activities by venturing into numerous industries across the Mexican economy including auto parts, aluminum, airlines, chemicals, tobacco, cable and wire manufacturing, paper and packaging, copper and mineral extraction, tires, cement, retail, hotels, beverage distributors, telecommunications and financial services (Slim's Grupo Financiero Inbursa sells insurance and manages mutual funds and pension plans for millions of ordinary Mexicans). "America Movil Fined $128 Million by Mexican Telecoms Operator. [15][9] Due to the vast size of his business empire, he often jokes that he cannot keep track of all the companies he manages. And the wealthiest person in New Mexico is - KRQE Antonio Del Valle Ruiz is placed 8th with a net worth of $3.1 billion. Mexico's GDP as of 2020 was $1.07 trillion; whereas Spain's was $1.28 trillion, making Spain, in that sense, richer than Mexico. The engineer ventured into banking, tourism, energy, infrastructure, and auto dealerships. They are not only beautiful but also confidently complete all tasks. These areas offer beautiful beaches, luxurious hotels and resorts, and plenty of activities to keep visitors entertained. [45], In September 2012, Slim bought 30% stakes in Pachuca and Len, two Mexican soccer teams through his telecommunications company America Movil. By Allen Lee Posted on September 9, 2022 September 8, 2022 Updated on September 8, 2022. [87][88][89][90][91][2][29], In response to the criticism, Slim has stated, "When you live for others' opinions, you are dead. In November 2013, Slim invested US$60 million in the Israeli startup Mobli, a company that deals with connections between people and communities corralled according to different interests. The son of late politician Carlos Hank Gonzalez has interests in construction, tourism, energy, auto dealerships and more, which fell in value by approximately 10% since last year. She, with her mother and sister, inherited a stake in beer giant Grupo Modelo by her father. CEOWORLD magazine - Top Stories - Stats Gate - Wealthiest People in Mexico (February 12, 2023). The Mexican peso had fallen to 24 pesos per U.S. dollar, a 25% drop measured from the beginning of 2020. The coronavirus-induced market crash in March pushed shares of Orbia, which changed its name from Mexichem in September, down to half their value vs. last year's billionaires list. America Movil is the telecom subsidiary of Mexican billionaire Carlos Slim. [101], In 2011, he, along with the president of Mexico, Mexico City mayor, and Mexico City archbishop, inaugurated the first phase of Plaza Mariana close to Basilica de Guadalupe. After a two-year slump in copper prices, Grupo Mxico's share price more than doubled in 2020, propelling Larrea from the third-wealthiest Mexican billionaire to the second-place spot. This 80-year old Mexican is a self-made billionaire. [46] Slim has also completed business deals for the television rights to games of the Leon soccer team. All rights reserved, Exploring The Numbers Behind The Caravans In Tijuana Mexico: Examining Implications For The US And Mexico, Uncovering The Banking Secrets Of Tijuana: How To Safely Access ATMs In Mexicos Busiest City, Discover How To Call A Taxi In Tijuana Learn About The Cost And Safety Tips, Mayor Of Tijuana: Juan Manuel Gastlum Buenrostros Fight To Improve Quality Of Life In Mexicos Largest City, Exploring The Intertwined Cities Of Tijuana And Coronado, Uncovering The Real Tijuana: Examining The Complex Dynamics Of The Mexican City Beyond The Headlines, The Excitement Of Marriage Certificates In 1951 Tijuana Mexico, Exploring The Distance Between Tijuana And Mexicali. At the time, he owned 80% share of the landline and controlled 70% share of the mobile market. [33], Amrica Telecom, the holding company for Amrica Mvil, was incorporated in 2000. Telvista has five centers in Mexico (three in Tijuana, one center in Mexicali, and one in Mxico City). de C.V. (FEMSA) (FMX), a beverage production, distribution, and marketing company. Here is a list of the top ten most famous love tales in history that KnowInsiders wants to introduce. A Bloomberg analysis of the use of primary private planes among some of the richest people in the world finds that Musk comes out on top. The Full List of Mexico"s Billionaires In 2023 - Who Are The Richest The funny thing is how illegitimate Mexican dollars billionaires have racked up plenty of wealth since 2012 through violent drug trafficking. Carlos even got himself another billionaires daughter for a wife. Its been a very prosperous year to be a billionaire, data from the 2021 Forbes list of the Worlds Billionaires show. Some of the most popular places for the rich and famous to vacation in Mexico are the coastal resorts of Acapulco, Cancun, and Puerto Vallarta. After we collected the data for all 34 places with more than 5,000 people in New Mexico, we ranked each place from 1 to 34 for each of the criteria, with 1 being the richest. For example, his private jet took more than twice as many . Based on MasterCMS Ultimate Edition v2.9 2020, Top 10 Most Beautiful Mexican Actresses - Updated, Top 8 Most Handsome Men in Mexico - Updated. "Grupo Mxico SAB de CV. America Movil partnered with the company to aid its growth into advertising and television and help the audio recognition service expand in Latin America.[49][50]. After Argentina and Brazil, it is the third largest country in Latin America, the nation has extreme poverty and wealth levels. The 10 Richest People in Mexico - moneyinc.com [30][32] By 2006, Telmex controlled and operated 90 percent of the telephone lines in Mexico, and his wireless telecommunications company, Telcel, which was created out of the Radiomvil Dipsa company,[19] operated almost 80 percent of all the country's cellphones. Despite a broader market rout, Grupo Elektra posted strong earnings growth for its fourth quarter 2019, helping its stock bounce back after initial losses in early March. Table of Contents show 10. [3] He was the first Mexican to top the list. Fortunately, he was already familiar with the business. Reluctant Mexican consumers in his banking and retail ventures resulted in fewer sales and loans. [9] In 1990, Grupo Carso was floated as a public company initially in Mexico and then worldwide. [21] On December 8, 2007, Grupo Carso announced that the remaining 103 CompUSA retail stores would be either liquidated or sold, bringing an end to the struggling company,[38] although the information technology division of CompUSA continued under the name Telvista with various U.S. locations in Dallas, Texas (U.S. Corporate Office) and Danville, Virginia. Apartments in this city typically cost at least $1,000 per month, with food and entertainment accounting for another $300. You can consider one of these 15 most popular online courses from top US schools. Eva is one of the few Mexican billionaires whove increased their net worths since 2012. Concurrently, Telmex also spun off its international cellular phone division for a $15 billion listing of America Movil SA on the New York Stock Exchange. Maria was born in Mexico in 1963 and got her bachelor's degree in arts and sciences. In comparison to the national average, the median household income in the state is $62,488. The city has a population of 282,000 people and is located in the heart of the Rio de la Plato, which is a world-renowned natural beauty. Ricardo Salinas Pliego owns financing company Grupo Elektra and conglomerate Grupo Salinas, which boasts holdings in television, telecommunications, retail, and banking. Michael Bloomberg is a billionaire businessman, publisher, and philanthropist, and a former mayor of New York City. At the time, Gates and Buffett had a net worth of US$53billion and US$47billion respectively. [40] Slim's stake in the Times increased again to 16.8% of the company's Class A shares on 20 January 2015 when he exercised stock options to purchase 15.9 million shares, making him the largest shareholder in the company. Unemployment in the state is the eighteenth highest in the country, at 5.7%, and poverty is the eighth lowest, with only 10% of the population out of work. His excellent managerial and administrative skills were further sharpened at Business Institute of Madrid where he earned a Masters degree. He also steers insurance covers and pension funds. Meanwhile, the bottom 50 percent had a total of -0.2 percent, which means that, on average . He has been involved in the founding of a number of companies. I don't want to live thinking about how I'll be remembered [by Mexican people]," claiming indifference about his position on Forbes list of the world's richest people. Juan Francisco Beckmann Vidal,. This billionaire was recently richer than everyone else on earth, and he is now the third richest person globally. Today she sits on AB InBev's board and serves as CEO of investment firm Tresalia Capital, which has led investments in construction, telecommunications and technology. [53], On April 15, 2015, Slim formed oil company Carso Oil & Gas. A report that was released by the new company listed its assets at 3.5billion pesos (approximately US$230million), placed within 17.7million shares. Leo is predicted to be the winner of the month as lots of luck will come to Leo in May 2023. [52], In January 2015, Grupo Carso publicly launched Claro Musica, an online music service that is a Latin American equivalent of iTunes and Spotify. ", Forbes. Mexico: people living in extreme poverty 2014-2020, by ethnicity ; He is now worth 3.1 billion dollars. Germany is home to the richest billionaires in Europe and also in the world. There are so many safe, leafy, and cool neighborhoods in Guadalajara, unlike other areas where ex-pats congregate, that expats are dispersed throughout the city in clusters of eight or nine more affluent areas, such as Providencia, Chapalita, Zapopan, and Chapepec. Silicon Valley is an area in Northern California that is home to a large number of innovative technology companies. When Forbes calculated fortunes for the list on March 18, 2020, the Mexican peso was at its weakest point ever compared to the U.S. dollar, with $1 trading for close to 24 pesos. Since 1996 she has also served as CEO of Tresalia Capital an investment firm. She, with her mother and sister, inherited a stake in beer . Baillres also serves on the board of Fomento Econmico Mexicano, S.A.B. Dubai is a popular business hub due to its status as a wealthy state. [99] Telmex donated at least $1 million to the Clinton Foundation. Carlos Slim Helu Appearing at the top 5 richest persons worldwide list, Carlos Slim has a net worth of $62.4 billion at the age of 79. School uniform is one of the universally popular costumes, exclusively for students at all levels from kindergarten to high school. Streams of knowledge everyone should know, Copyright@2020 KnowInsiders. Maria was born in Mexico in 1963 and got her bachelors degree in arts and sciences. Slim's investment company, Inmobiliaria Carso, announced it will buy a stake in the Spanish bank, Bankia, which couples with Slim's other purchase of Realia, a Spanish real estate company, where Slim is the second largest shareholder holding a 25% equity stake, behind Fomento de Construcciones y Contratas, a Spanish construction company where Slim is also an active minor shareholder. Lisa Brown is the opinion editor for News and Initiatives at the CEOWORLD magazine, supervising coverage that includes consumer issues, technology, travel, life, and money news. Learn how your comment data is processed. In 2018, regulators fined the company $128 million for violations of antitrust laws. "Insight - Threat of Break-up Looms Over Mexican Telecoms Tycoon Slim.".

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