Thursday, April 12, 2007

Meet Carlos Slim Helu

Carlos Slim Helu is likely not a name you recognize, but perhaps you should. He recently surpassed Warren Buffet on the Forbes' list of richest men in the world with a networth valued at more than $53.1 billion, second only to Bill Gates.

Helu heads Mexico's largest telecommunications company, considered by many to be a monopoly.

Helu's wealth has ballooned in the last 14 months by more than $23 billion dollars leading one to question just how poor is Mexico?

Mexico's economy is considered to be strong by many financial analysts and their stock market has increased in value by nearly 50% over the last year. According to the CIA World Fact Book Mexico ranks as the world's 13th richest nation, just ahead of Spain. A study by the Pew Hispanic Center also found that illegal immigrants aren't being drawn to the U.S. because of unemployment as most already held similar jobs in Mexico.

Helu has criticized both Buffet and Gates for donating billions or dollars to charity. It is his belief that poverty isn't solved by "going around like Santa Claus."