Carlos Slim Inches Close to Retaking 'World's Richest' Title from Bill Gates Dolia Estevez - Forbes
go to original July 14, 2014

Microsoft Chairman Bill Gates, right, and Mexican telecommunications tycoon Carlos Slim. in Texcoco, Mexico. (Associated Press)

Mexican telecom mogul Carlos Slim Helú is close to taking the world’s richest man title back from Microsoft cofounder Bill Gates. In May of 2013, Gates bumped Slim from his perch as world’s richest, a post Slim held between 2010 and 2013.

Slim finished Friday with net worth that Forbes estimated at $78.5 billion, just a hair behind Gates, whose net worth Forbes pegs at $78.9 billion. Slim’s phone giant América Móvil’s stock, his largest holding, rose sharply both in the U.S. and Mexican markets after the company’s surprise announcement of plans to divest some assets to comply with Mexico’s new antitrust telecom regulations.
Mexican telecom tycoon Carlos Slim,

América Movil‘s shares were sharply higher Wednesday of last week after news of the breakup. The company’s shares, which have languished the past year as a result of regulatory pressures in Mexico, jumped 10% on the NYSE the day following the breakup announcement. Slim’s divesting decision was widely hailed as a master move. It suggests that Slim is determined to stay ahead of the game by not allowing government regulators to dictate to him how and when to divest to reduce his phone market share below 50% as the new laws mandate. Currently, Slim’s América Móvil controls 70% of the mobile phone market in Mexico, and 80% of landlines.

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