Carlos Slim is now among the world's five richest
billionaires, leaping from No. 17 to No. 4 on Forbes magazine's
2005 rankings, with an estimated net worth of US$23.8 billion.
A report by The Associated Press indicated Slim enjoyed a
"buying spree and some stellar performances on the Bolsa" in
2004. The AP also cited "experts" saying "they don't
see his monetary momentum stopping anytime soon."
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Slim initially made his money in retail, but branched into
telecommunications when he purchased the government's telephone
monopoly, Telefonos de Mexico, in 1991. The son of Lebanese immigrants
then began a buying spree "targeting other telecom companies
throughout the Americas," the AP reported.
COPYRIGHT 2005 American Chamber of Commerce of
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NOTE: All illustrations and photos have been removed from this article.