Mexican Telecom Tycoon Carlos Slim Helu's Net Worth Slipped in 2014 Dolia Estevez - Forbes | |
go to original December 22, 2014 |
It was not the best year for Carlos Slim Helú. During 2014 the Mexican telecom mogul went from temporarily reclaiming the world’s richest person title to third place on Forbes World’s Billionaires list. Over three months, his net worth plunged from a peak of $86.2 billion in September to $71.4 billion on Thursday last week, a loss of $14.8 billion. He started 2014 with a net worth that Forbes pegged at $73.8 billion.
The drop in Slim’s net worth is linked to weak performance of América Móvil, the flagship telecom company controlled by Slim and his children. América Movil’s shares, which trade on the New York Stock Exchange as well as in Mexico, are down 2.3% in dollar terms since January 2, 2014.
Its profit, meanwhile, fell in the July-September period 39.3% compared to the period a year earlier as taxes rose and the cost of sales jumped, the company reported. In monetary terms it represented a fall of 10.1 billion pesos ($754 million at the exchange rate at the time) from 16.38 billion pesos a year earlier.
This year Slim held the title of the world’s richest man for five months, beginning when he unseated Microsoft co-founder Bill Gates in July. Between the beginning of June and the middle of September the value of América Móvil’s shares, Slim’s largest holding, rose, helping to push Slim’s net worth to a high for the year of $86.2 billion.
Read the rest at Forbes
We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!
From activities like hiking, swimming, bike riding and yoga, to restaurants offering healthy menus, Vallarta-Nayarit is the ideal place to continue - or start - your healthy lifestyle routine.