Gates no longer world's richest man

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By our calculations, the 67-year-old Slim has amassed a $59 billion fortune, based on the value of his public holdings at the end of July. This number puts him just ahead of perennial No. 1, Microsoft founder Bill Gates, whose net worth is estimated to be at least $58 billion. But Gates is selling off his single greatest source of wealth, Microsoft stock, to fund his foundation, while Slim's fortune is growing at a stunning clip. His net worth jumped $12 billion this year alone. His family's holdings represent more than 5% of Mexico's 2006 gross domestic product, and Slim-controlled companies make up one-third of the $422 billion Mexican Bolsa, or stock exchange.

I like that Bill is putting so much into helping others now. As to Slim and his "Slimlandia", he appears to be a true fat cat, with his fingers in every Mexicans pie.

 

[jaynonymous]

Very interesting. I've never even heard of Carlos Slim.

 

[StageLeft]

Originally posted by: jaynonymous
Very interesting. I've never even heard of Carlos Slim.

I have only recently. When you've got a pissant nation and a guy living in it who's in the top tier of wealth, you can pretty safely assume he does certain things that are not "supa fly".

 

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Originally posted by: Skoorb

Originally posted by: jaynonymous
Very interesting. I've never even heard of Carlos Slim.

I have only recently. When you've got a pissant nation and a guy living in it who's in the top tier of wealth, you can pretty safely assume he does certain things that are not "supa fly".

:laugh: Look at the first photo of him, he looks as though he wouldn't hesitate to deep six someone. Perhaps he just had a lemon though?

 

[Dunbar]

The WSJ just did a good article on how he got so rich on Saturday. Mexico's Carlos Slim makes his billions the old-fashioned way: monopolies

 

[ProfJohn]

In all, his companies account for more than a third of the total value of Mexico's leading stock market index, while his fortune represents 7% of the country's annual economic output. (At his height, John D. Rockefeller's wealth was equal to 2.5% of U.S. gross domestic product.)

Wow.

 

[Whoozyerdaddy]

He's kind of a prick too. I read an interview with him where he said he thinks Gates and Buffett are saps to be giving away their fortunes like they do. Apparently he is not big on charity.

 

[miketheidiot]

the sad thing is that this guy is probably single handedly holding back mexico's economic well being for his own person greed. Sounds like he gets alot of his wealth through whats basically government cronyism.

 

[imported_Lothar]

Originally posted by: Whoozyerdaddy
He's kind of a prick too. I read an interview with him where he said he thinks Gates and Buffett are saps to be giving away their fortunes like they do. Apparently he is not big on charity.

I remember reading that interview also.

If Gates owned 8% of the US economy like Carlos Slim has Mexico, he'd be worth $800 billion.