How NAFTA Helped the Mexican Billionaires' Club Carrie Kahn - NPR.org
go to original January 6, 2014

Carlos Slim Helu (left) talks with Steve Forbes of Forbes magazine. The magazine lists the Mexican telecom mogul as the world's richest man, with a net worth of $73 billion. (Jeremy Piper/AP)

When the North American Free Trade Agreement was being negotiated, supporters promised it would increase the income of Mexicans. And the middle class did grow in Mexico over the past two decades. But it's clear that Mexico's ultrarich are among its big winners.

Mexico now claims the richest man in the world — richer than Bill Gates or Warren Buffett. He has six times the wealth of Mark Zuckerberg — but nowhere near the fame. He's Carlos Slim Helu, 73, and much of his wealth comes from his cellphone company, America Movil, the largest in Latin America. His reach also touches the U.S., where his investments include a piece of The New York Times.

The rest of Mexico's uber-rich are even less-known. They made their riches in mining, TV, Coca-Cola and beer.

Forbes magazine puts the number of Mexican billionaires at 15; others say there are many more. Dolia Estevez, a contributor to Forbes, says many of Mexico's billionaires are old — in their 70s and 80s — and keep a low profile.

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