Carlos Slim Now World`s Second-Richest Man
April 12, 2007, 09:40 PM
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Carlos Slim, Mexico`s richest man

is now worth 53.1 billion, and has thus replaced Warren Buffet (52.4 billion) as the world`s second richest man. This puts Slim less than four billion dollars away from the world`s richest man Bill Gates,at 56 billion.

When Forbes published its annual billionaire list (issue of March 8th, 2007) Buffet had $52 billion and Slim had $49 billion. But since then, Slim`s Carso Grupo Telecom increased its value by 15%, and Slim`s America Movil increased by 4% after announcing a move into the Italian telecoms market. This bumped Slim`s worth up to $53.1 billion dollars, making him the second wealthiest man on the planet.

Such wealth in the hands of a Mexican could be an employment-creating asset for Mexico. And yet, despite all of Carlos Slim`s billions, the Mexican Mega-Magnate only provides employment for a quarter of a million Mexicans (in contrast, Wal-mart employs 1.7 million Mexicans in Mexico).

Naturally, Slim`s underwhelming contribution to Mexican job creation doesn`t stop him from bashing the border fence and lecturing the U.S. on its own immigration policy.