Carlos Slim Case Study

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  • Topic: Carlos Slim, Luiz Inácio Lula da Silva, Mexico City
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  • Published : February 11, 2013
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Carlos Slim

Swimming Against the Tide
Carlos Slim Helú was born on January 28, 1940. He is a Mexicanbusiness magnateandphilanthropist who is currently ranked as therichest person in the worldin 2012. Slim has beenranked the richest person in the world since 2010. His extensive holdings in a considerablenumber of Mexican companies through hisconglomerate,Grupo Carso,SA de CV, haveamassed interests in the fields of communications, technology, retailing, and finance. Presentlyhe is the chairman and chief executive of telecommunications companiesTelmexandAméricaMóvil. Carlos Slim was born inMexico City,Mexico in 1940 toMaroniteChristian parents Julián SlimHaddad and Linda Helú, both of Lebanesedescent. His father, born as Khalil Slim Haddad,immigrated to Mexico at the age of 14 in 1902 and changed his first name to Julián. As it wasnot uncommon for Lebanese children to be sent abroad before they reached the age of 15 toavoid being conscripted into theOttomanarmy, four of Haddad's older brothers were alreadyliving in Mexico at the time of his arrival.Carlos Slim's mother, Linda Helú, was born in Parral,Chihuahua,of Lebanese parents who hadimmigrated to Mexico in the late 19th century. Her parents upon immigrating to Mexico hadfounded one of the first Arabic language magazines for theLebanese-Mexicancommunity, usinga printing press they had brought with them.

In 1911, Julián established adry goodsstore, La Estrella del Oriente (The Star of the Orient). By1921, he had purchased real estate in the flourishing commercial district of Mexico City. Theseenterprises became the source of considerable wealth. In August 1926, Julián Slim and LindaHelú married. They had six children: Nour, Alma, Julián, José, Carlos and Linda. Julián senior,who had been influential in the Lebanese-Mexican business community, died in 1953.In 1982, as Mexico lurched towards a financial crisis so brutal it triggered the Latin Americandebt crisis, Mexican and international investors...
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