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Why Carlos Slim Is The Richest Man In The World

Joel Brown (Founder of Addicted2Success.com)

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Read on to see how the worlds richest man has come to be.

Carlos Slim is currently the world’s richest man. Carlos has been an entrepreneur since the age of 12, when he first decided to purchase shares in a Mexican bank. Now Carlos Slim is worth billions upon billions ($75.5 Billion to be exact).

 

Carlos Slim – The World’s Richest Man

Carlos Slim Helu’s father, Julian, was a Lebanese immigrant to Mexico where he operated a dry goods store and invested in commercial real estate in Mexico City, which made him wealthy.

A Young & Ambitious Carlos SlimJulian seemed to have been aware that Carlos was going to be good at commerce and would educate him on business dealings. Although he was only 12 years old when his father died, Carlos inherited his fathers business talents, whose work ethic and business acumen was extraordinary.

Carlos first worked at the family company before studying civil engineering and eventually becoming a stock broker in his own brokerage firm. He invested wisely in a variety of businesses so that by the time he was 26 he was already worth forty million dollars. However, Carlos never wanted to be a stock trader, preferring to be a good businessman. Carlos Slim’s mastery of numbers is legendary. In the 1960s, his studies of linear programming gave him a formidable edge in the business world. Using this amazing talent, In 1981, Carlos did his homework and decided to buy into the second largest tobacco company in Mexico, Cigatam, who made Marlboro cigarettes. With the money he made, he was able to begin buying companies.

As oil prices declined in 1982, the Mexican economy started to go downhill . That’s when Carlos wisely invested the Cigatam profits in the Mexican divisions of American businesses such as Reynolds Aluminum and Hershey Corporation, as well as Mexican financial services. Basically, Carlos Slim earned his fortune and his power by putting monopolies together, especially in communications. He is a ruthless businessman, buying companies cheaply, organizing them and quickly driving competition out of business. Gathering many businesses with interests in construction, mining, printing, tobacco, food, and retail, he formed a conglomerate.

Carlos Slim Telmex

In the late Eighties Carlos Slim added other companies that traded in copper, aluminum and chemicals, after which he sold shares in his conglomerate, Grupo Carso, as a public company. He also bought Telmex, the telecommunications company. Along with Telcel, his mobile phone company, they handle most of Mexico’s phone and mobile lines.

In the Nineties, after buying the Mexican division of Sears Roebuck, Carlos began expanding his business empire out of Latin America by setting up Telmex USA and by joining Microsoft to begin a portal called ProdigyMSN.

One of the few business mistakes Carlos made was buying a stake in CompUSA in 1999 for $800 million. Unfortunately, the sales of personal computers were slowing down at the time because they were more and more obsolete as new technology became available. Carlos tried everything to keep them afloat, including changing CEO’s and other various strategies, but eventually the chain closed more than half its stores and sold the rest.

Carlos says that he has lost count of the “more than two hundred companies” he now controls. If he dines out in a restaurant, chances are that he owns it. Believe it or not, he does not even use a computer himself, preferring the old skool way, “a pen and paper!”

Carlos Slims MansionCarlos Slim has a mansion in Mexico City where he has hosted American presidents and famous Mexican novelists. He claims to live a rather rustic life, not traveling much and enjoying baseball as he roots for the New York Yankees. Rather, he enjoys staying at home and reading about the military strategies of Genghis Khan.

Although Carlos Slim is the largest private employer in Mexico and the world’s richest man, he is thrifty and not at all flamboyant as many businessmen of his social status tend to become. Described by his business associates and competitors as being very aggressive, he is a power to be reckoned with. That power extends to the Mexican legislature. His lawyers have successfully blocked any legislation that threatens his companies.

 

Carlos Slim’s 10 Keys To Business Success

1. Have a simple organizational structure
2. Maintain austerity
3. Focus on growth
4. Minimize non-productive things
5. Work together
6. Reinvest profits
7. Be charitable
8. Keep optimistic
9. Work hard
10. Create wealth

 

In one of his latest newspaper interviews, Mr. Slim states that he believes the retirement age should be expanded to 70 years old since originally the retirement age was based more on physical work but now it should be based on services provided rather than hard physical labor.

Having had a heart attack in the late Nineties, Carlos has slowed things down, allowing his six children and their spouses to take more responsibility, although he remains “Honorary Lifetime Chairman” of his businesses.

Focusing now on Mexican and Latin American education, health and employment, Carlos is Chairman of five Boards involving this work.

Carlos Slim’s Net Worth is now $75.5 billion dollars, making him the world’s richest man.

 

Carlos Slim Quotes

Carlos Slim Richest Man“All times are good time for those who know how to work and have the tools to do so.” – Carlos Slim

“Do not allow negative feelings and emotions to control your mind. Emotional harm does not come from others; it is conceived and developed within ourselves.” – Carlos Slim

“Live the present intensely and fully, do not let the past be a burden, and let the future be an incentive. Each person forges his or her own destiny.” – Carlos Slim

“When there is a crisis, that’s when some are interested in getting out and that’s when we are interested in getting in.” – Carlos Slim

“When we decide to do something, we do it quickly.” – Carlos Slim

“I think one of the big errors people are making right now is thinking that old-style businesses will be obsolete, when actually they will be an important part of this new civilization. Some retail groups are introducing e-commerce and think that the “bricks” are no longer useful. But they will continue to be important.” – Carlos Slim

“When you live for others’ opinions, you are dead. I don’t want to live thinking about how I’ll be remembered.” – Carlos Slim

 

Article By Joel Brown | Addicted2Success.com

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

Success Advice

How Your Friends Determine Whether You Succeed or Not

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Can anyone do without having friends? We all have our friends, we share ideas with them, talk together, have fun, and fight. Yes, that’s the baseline of friendship. But, do you know that aside from you, your friends can determine whether you achieve success or not?

There are two things in friendship which are the ability to ”love” and the ability to “influence”. This means you are loved and you are influenced. How do your friends affect your success in life? How are they one of the biggest deciding factors of your success? Let’s find out.

What type of friends do you keep? 

First, what type of friends do you keep? Who do you call your best friend? There are two different kinds of friends, good friends, and bad ones. A lot of people have lost their pathway to success and some have also found their road to success all because of the friends they keep, the people they mingle with. 

Who is your best friend? Answer carefully. Having a best friend means you find each other compatible and understanding. Analyze who your best friend is. If your best friend has not motivated you to do something positive, if who you call your bestie has never given you positive advice, lastly if your best friend has never informed and advised you on your shortcomings, then you don’t have a best friend.

This quote tells us “birds of the same feather flock together”. Countless people have changed from their good nature into a bad one all because of friends. One thing to note is, “negative people move with negative aura”. If your best friend is filled with negativity inside-out then you will surely be affected by his/her negative aura.

They influence your success with positivity or negativity 

The friends you keep can either influence you with positivity or negativity because your friends have the power to change your kind of person completely. 

This is how your friends influence you:

  1. They influence you indirectly with what they do
  2. They influence you directly by teaching and giving you advice 

Yes, that is how they influence you. For instance, you watch a movie and you like the way the actor walks. The question is if you truly like the way the actor walks, won’t you try to imitate the actor? Of course, you will.

Just the way you imitate the actor is the same way your friends can influence you with their character. However, the funny part is, they don’t have to teach you to do things like them. You just find yourself imitating and copying them gradually.

An important question to ask is, are you imitating a good friend or a bad one? If you imitate a good friend then you will be good, but if you imitate a bad person, you will surely become a bad person.

Everyone wants to succeed, a good friend will always teach, enlighten, and motivate you for success. A bad friend will only motivate you to do evil things (smoking, drinking, fight, envy,).

And you should know that things like that are a great enemy of success and even of God. So, if you have these bad elements in your life, how will you achieve success? There is no way!

And also, they can teach and advise you directly. But, what do your friends teach you? When you ask them for advice do they inspire you positively or teach you the bad stuff.? A lot of people have regretted lifelong decisions just by listening to the advice of friends. 

The company you keep has the power to influence and change you. Never forget that a positive influence will teach, motivate, and brush you up for success. While a negative influence will inspire you to become a bad person, change your good nature, and leave you with regrets in the end.

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The 3 Step Process to Building a Profitable Pitch

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As a communication coach, one of the top questions entrepreneurs ask me is how to deliver a winning pitch to potential investors. They want to know if there’s a magic formula to get an investor to say yes and buy into their dream and their business. (more…)

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The 4 Pillars of Wealth and Abundance

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Have you ever wondered what the formula for a wealthy and abundant life is? Many people have. Lots has been written about the subject of wealth creation and living an abundant life. It was a breaking point in my journey and pursuit of success when I found out that there is a clear path to achieve success in life. Thanks to those who have shared their journey, we can clearly see and follow the principles of prosperity. (more…)

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Success Advice

Here Are 4 Reasons Why You Should Have a Podcast, Youtube Channel or Online Show

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why you should have a podcast
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Confidence comes from a place of strong understanding of self. After close to three years on radio, I’ve grown from a shy introvert to a shy introvert with an extrovert persona. When the mic is turned on, I can channel a version of myself that some say is attractive, strong, and of course, confident but it wasn’t always this way.

What I want to share with you is what I discovered on this journey into broadcast that you can apply to your life, your ventures, and your personal development. This doesn’t require any fancy gear. It does require a leap of faith on your part because once you go down the road of media; it can change your life.

1. Perceived Expertise

When you go to a doctor, you expect their knowledge will guide them to a solution to your problems. When you have a show, you become your listeners’ doctor. For all the multiple thousands, maybe millions, of YouTube channels, podcasts, and user-created content in the world, each person that gets behind a mic takes a position on their passion, their opinions, and their themes.

They challenge the status quo for the benefit of their listeners in hopes to entertain and educate. With consistency on your side, those fans place you on a platform and give you permission to influence them.

2. Global Acknowledgement

One of the benefits to increasing confidence is when you receive thank you notes from people you may never meet. The feeling of enriching someone’s life from halfway around the globe, provides validation you’re enhancing someone else’s life with your wisdom and your wit.

The very first time I was told I was making a difference in someone’s life in a country other than my own, I felt like I caused massive impact that transcends my circle of influence. When you experience just how much you can cause impact and it comes back to you, it’ll change your worldview.

“Be grateful for what you have and stop complaining – it bores everybody else, does you no good, and doesn’t solve any problems.” – Zig Ziglar

3. Backed By Numbers

One of the most exciting ways to measure success is to quantify your growth. It’s not enough to just broadcast. Having subscribers and downloads helps to know, numerically, how well you’re doing. Word of caution. This can be a way to set yourself up for distress because of number envy but if you understand what the numbers mean; you can control the narrative of the numbers.

The major number that makes most people smile is 10,000. I’d advise it to be 1. Here’s why. As you grow in your industry, so does your reach. If you learned that the one person that subscribed totally changed for the better because of you, wouldn’t that be worth the effort?

4. Effective Communication

While it’s not talked about much, having a show is documentation. You create a dynamic account of your life, your industry, and the pulse on what’s important simply by having a show. When you find a channel to improve your communication skills, you demand attention and people will listen to you. You become more trusted as a leader and people will follow you once they believe you can lead them to their wants and needs.

“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.” – Tony Robbins

These insights have helped many people become leaders and, ultimately, move others to their best selves. It’s worked for me and I hope it works for you. At the end of the day, it’s all about showing up and showing out.

Have you ever thought about having a radio show? If so, what would you talk about? Let us below!

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