Carlos Slim: the Mexican billionaire increased his fortune during the COVID-19 pandemic

(Photo: REUTERS / Luis Cortes)
(Photo: REUTERS / Luis Cortes)

Carlos Slim's fortune Helú, the richest man in Mexico, grew so far in the COVID-19 pandemic.

The capital of the telecommunications entrepreneur has reported, since March 23, a increase by $ 4.2 billion, which in total make it have an estimated value of 51.2 billion.

The financial magazine Forbes placed the 80-year-old Mexican in the position number 16 of "The 25 richest billionaires in the world who have earned close to 255 billion dollars in just two months". The publication explains that those gains were reported at the cut of this May 22; the start is last March 23, when the US stock market peaked so far in the pandemic of the new coronavirus.

Altogether, Forbes estimates the sum of the fortunes of these 25 people, all linked to actions in the stock market, at a value of almost 1.5 trillion dollars, which represents approximately 16% of the total wealth held by the billionaires. of all the world.

Screenshot of the profile of businessman Carlos Slim in Forbes
Screenshot of the profile of businessman Carlos Slim in Forbes

América Móvil dodges the impact of the pandemic

Precisely América Móvil - the largest mobile telecommunications company in Latin America, owned by Slim Helú - reported a few weeks ago that practically had managed to avoid the impact of the COVID-19 crisis. At least until the end of March, the month the pandemic was declared.

The company announced that during the first quarter of the year they achieved revenues from 250 billion pesos, those who represented an increase of 1.8 percent in terms of Mexican pesos. The Mexican magnate's company also detailed that, in that period, service revenue increased 5.0%, the fastest pace they had recorded in more than a year.

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Slim and section 2 of the Maya Train

On the other hand, at the end of April it was announced that the consortium led by Carlos Slim, conformed by Operadora Cicsa and the Spanish Fomento de Construcciones y Contratas (FCC), was the winner of the tender to build the second section of the Maya Train -one of the flagship projects of the López Obrador government-, which runs from Escárcega to Calkiní in the state of Campeche, with an extension of 222 kilometers.

President López Obrador and businessman Carlos Slim (Photo: Andrea Murcia /CUARTOSCURO.COM)
President López Obrador and businessman Carlos Slim (Photo: Andrea Murcia /CUARTOSCURO.COM)

The group's economic proposal was 18 thousand 553 million pesos, including taxes.

The consortium was the winner for obtaining the highest score: 94.06 points out of 100 possible, according to the ruling of the international public tender LO-021W3N003-E51-2020, leaving behind 14 other consortiums where companies such as ICA, Sacyr, and the winning association for Section 1, headed by Mota Engil and China Communications Construction Company.

Donation for crisis of COVID-19

It should be noted that as soon as the pandemic was declared worldwide, the Carlos Slim Foundation announced he would donate 1,000 million pesos (about 40 million dollars), to face the crisis caused by the new coronavirus strain.

The resources donated by the magnate's foundation were destined to the purchase of equipment such as ventilators, echo sonograms and video laryngoscopes. Also, for the acquisition of protection material for health workers and supplies for sanitizing and disinfecting critical spaces in public hospitals.

The increase in diagnostic capacity at the national level as well as the hospital retraining for the care of infected people, they were also provided for in the donation.

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(Photo: Cuartoscuro)
(Photo: Cuartoscuro)

Carlos Slim Helú leads the list of "2020 Billionaires of Forbes Mexico" and occupies the 12th place in the list of "Richest Billionaires in the World in 2020" of the same publication.

In addition to owning América Móvil, Slim Helú is a shareholder in Mexican construction, consumer goods, mining and real estate companies. It also has 17% of The New York Times.


US billionaires got even richer with the pandemic: their fortunes grew 15% in two months

Carlos Slim will donate 1,000 million pesos to face COVID-19

Carlos Slim consortium wins tender to build the second section of the Maya Train


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Sam Conley

Sam Conley is new to online journalism but she is keen to learn. She is an MBA from a reputed university. She brings together relevant news pieces from various industries. She loves to share quick news updates. She is always in search of interesting news so that she can share them as well to Sunriseread's readers who could enjoy them with their morning coffee.

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