Carlos Slim Helú is once again the world’s richest person, thanks in large part to a sharp increase in telecom giant América Móvil’s share price both in U.S. and Mexican markets. Slim bumped Microsoft (NYSE:MSFT) cofounder Bill Gates from his perch as the world’s richest, a post Gates has held since May 2013.

The move happened on Tuesday when the value of Slim’s phone company América Móvil’s (NYSE:AMX), his largest holding, rose 1% or $805.6 million, pushing his net worth to Forbes estimate of $79.6 billion, against Gates’s estimated $79.1 billion net worth.

América Móvil’s stock has been rising since the company announced plans last week to divest some assets to comply with Mexico’s new antitrust telecom regulations. América Móvil’s shares were sharply higher last Wednesday, 24 hours after the news of the breakup. The company’s shares, which have languished the past year as a result of regulatory pressures in Mexico, jumped 10% on the NYSE the day following the breakup announcement.

Between July 1 and July 11, Slim’s wealth jumped from $74.5 billion to $79.6, a gain of $5.1 billion in 12 business days, an indication that investors are applauding Slim’s unexpected decision to reduce his phone market share below 50% as a new antitrust telecom law mandate comes into play. Investors seem to believe the outcome may actually be better for Slim’s business interests.

Currently, Slim’s América Móvil controls 70% of the mobile phone market in Mexico, and 80% of landlines.

Mexican President Enrique Peña Nieto signed the bill into law on Monday in an event attended by Mexico’s top telecom executives, including Carlos Slim Domitt, Slims Helús oldest son and heir apparent.

Slim fell from the top of the Forbes World’s Billionaire list in May 2013 largely due to a sharp drop in América Móvil’s stock, fueled by fears that Mexico’s new antitrust regulations would crumble his telecom empire.

Yet it appears as though the threat has reenergized him. Slim is planning to further expand his presence in Europe and Latin America. In a filing with the Mexican Stock Exchange on Monday, América Móvil said it will acquire an additional 23.47 % stake in Telekom Austria in a buyout offer, lifting the telecom giant’s interest in the company to 50.8%.



Source: http://www.forbes.com/sites/doliaestevez/2014/07/15/mexicos-carlos-slim-reclaims-worlds-richest-man-title-from-bill-gates/

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No one can be a champion forever

okusebi: No one can be a champion forever

hmmm

God bless my hustle

Nah small small. I remember when i first met slim. He was so cool, a pure business man....

amazing

Remember to also visit us on www.supergists.com

@MOD, you be spirit? You no dey sleep? See time wey you carry thread come front page.

No ask my work. I be vigilante wey dey watch area so I no dey sleep.

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Hardwork plus brains pay. I will get there by God's grace.

Can some 1 help tell Carlos slim to 'fi ara buruku bale'i am right behind him,he shld get ready for the challenge

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I don't lyk that guy I prefer gates the difference is so small
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God pls uplift me and make my name to be included in this list at the right time.

When poverty fall apart.....

Mr. Dangote is coming soon... Lolz

....after booking space, staying awake for several hours, reloadin my web page, i no kum get meaningful thing to say.
abeg for no reason just like my post!!

I doubt if this was ever their goal in the first place, it seems like someone just seeking excellence and this 'na jara'.

DAT KANO ABOKI IS ON HIS WAY DIA

Drug money. Don't ask me how I know everybody with the name Carlos is a suspect.

I'll get there someday.

one day we all will get there

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I used to tell Carlos back then..

Carlito, I know one day u will make me proud

E no fit Last 1 Week for that Number 1..

Gates na Baba…

One day you and I are going to be regulars on the forbe's list, some of us reading this may even rock the number one spot and clutch it longer than Gates have. Do I have any believer in the building?

Horlawoomey: Hardwork plus brains pay. I will get there by God's grace.

to do what?

Am next

cool

dangote i want to c u at d top 1 day

Despite their wealth, they always appear simple.