BALTIMORE ( Stockpickr) -- Few business magnates have made the move from unknown to revered as well as Mexican billionaire Carlos Slim Helu has over the last few years. The world's richest man in 2010, Carlos Slim Helu (better known as just Carlos Slim) has gained the world's spotlight after rocketing to the top of Forbes' richest list in recent years.
Slim's standing as the world's richest man is a major milestone. With a fortune estimated to be around $53 billion, Slim is the first billionaire from an emerging economy to take the distinction as the world's richest. Slim's business domination in Mexico is impressive; with interests ranging from financial institutions to construction firms to grocery stores, this son of a Lebanese immigrant has a personal wealth that weighs in at 7% of his country's annual economic output.
Unlike many foreign business giants, many of Slim's biggest stakes -- including
(AMX - Get Report)
-- are familiar names to American investors. Likewise, Slim is a major shareholder in a handful of American stocks. Here's
a look at Carlos Slim's U.S. portfolio
It's impossible to discuss Carlos Slim's holdings without delving deeper into America Movil and Telmex. The companies, which Slim purchased from the Mexican government in 1990 with a team of other investors (when America Movil was a division of Telmex), hold significant control of the markets in which they operate -- America Movil ranks as the largest mobile phone carrier in Latin America with more than 201 million wireless subscribers; Telmex provides internet service to 80% of connected Mexican households as well as more than 90% of the country's fixed-line phone business.
This year, a deal was announced that would merge the two firms once again, only this time, larger America Movil would be the parent company in the transaction.
The massive growth of these two companies throughout Latin America in the last two decades is the primary reason for Carlos Slim's massive fortune today. But his large stakes in American firms stand to make him even wealthier in the next decade.
|Who Else Owns America Movil?