Mexican billionaire Carlos Slim gestures while speaking during a press conference in Mexico City (Photo: Reuters / Luis Cortes)

Carlos Slim Helú He is the Mexican businessman with the largest fortune in the country. With his companies América Móvil (also known as Telcel), Grupo Carso, Condumex, Grupo Sanborns, Telmex, Grupo Financiero Inbursa, among others, Slim occupies the first place in the ranking of Mexican billionaires of Forbes.

The Mexican Tycoon came to position himself as the second richest man in the world in 2014, only preceded by the American Bill Gates, with whom he disputed for months at the top of the list. Today, however, its businesses have experienced bad spells and despite the fact that it continues to lead among the Mexican elite, it was displaced to number 12 worldwide, leaving the top 10 of the list of “Billionaires 2020” from Forbes USA.

The crisis is widespread and has affected many capitalists. But what are Carlos Slim’s keys to maintaining his wealth despite adversity? In many of the interviews, conferences and talks in which he has participated, Slim has shared clues to your understanding of finance and business practices. Here we share some of them.

“Money is not the goal”: the financial advice of Carlos Slim, the richest man in Mexico

Andrés Manuel López Obrador, President of Mexico, presented the National Engineering and Architecture Awards at the National Palace. Among the winners was the engineer Carlos Slim Helú (Photo: Presidency / Cuartoscuro)

Money is not the goal. The objective is to make companies grow, develop, be competitive. Being in different areas, being efficient, having a great human team within the companies and ensuring the human development of the people within these companies because you cannot do anything without human capital , without a team human

This was the response that Slim gave during an interview with CNN, when a journalist asked him about his “modest” way of living (in reference to the not-so-extensive size of his home). According to the businessman, wealth is not a good to squander: his goal has always been to reinvest wealth to create more. “The fruit of wealth is income and it is important to develop income distribution,” he said.

The income distribution to which Slim refers is developed, in his own words, through the job and the resources allocated to the government in the form of taxes. In this last category, income distribution operates through investment and social spending carried out by governments in health, education and other social assistance services.

“Money is not the goal”: the financial advice of Carlos Slim, the richest man in Mexico

Daily activities such as talking on the phone or using the Internet represent daily earnings for the businessman (Photo: Germán Romero / Cuartoscuro)

To believe that things buy happiness is crazy , that happiness comes from acquiring many material things, having 20 or 30 late-model cars or 40 watches. I think that is not happiness. When you do something like that it means you have a problem. You can’t satisfy yourself

Another tip that the Lebanese-born businessman constantly shares is that of give central importance to education. “The better education you have, you will be a better alternative, you will have better offers to do different jobs,” he considered during another interview with the press.

The businessman has pointed out the need to transcend “dogmatic” education to move on to reflection, research and discussion as pillars of learning. In addition, in their opinion, education and well-paid employment opportunities they are the best fight against crime.

“Money is not the goal”: the financial advice of Carlos Slim, the richest man in Mexico

Carlos Slim in Congress during the inauguration of President Andrés Manuel López Obrador (Photo: Reuters / Henry Romer)

Due to the diversification of their businesses, the daily activities of Mexicans represent constant profits for this businessman: talking on the phone, using the Internet or meeting acquaintances for coffee. And it is that, apparently, Every solid investment opportunity is taken advantage of by their companies.

Slim Helú believes that poverty in Mexico and Latin America is an opportunity to invest and promote economic activity. “Taking charge of poverty is the best investment that any country or person can make anywhere. Poverty used to be an ethical issue, a social justice issue, but now it is an economic necessity. You need to integrate these people in poverty to modernity, to the market ”.

The economic crisis of recent years, exacerbated by the 2020 health emergency, affected his wealth with a loss of nearly $ 21 billion in the past two years. And despite that, his wealth is estimated at $ 52.1 billion, the largest nationwide.

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