When talking about the world’s richest people, Mexico has one name that stands out: Carlos Slim, the country’s wealthiest man, with a fortune estimated at $123 billion.
To put Slim’s wealth in perspective, consider this: relative to the size of his country’s economy, he is richer than Elon Musk. Musk’s fortune is equivalent to roughly 2.6% of the GDP of the US. Slim’s is equivalent to about 5.9% of Mexico’s GDP.
Yet, to truly understand Slim’s impact on Mexico, dollar figures are not enough. One has to look at the legacy he has built in the country or, more accurately, at the legacy he has failed to build.
That is why, in today’s edition of Mexico Decoded, we take a closer look at how Carlos Slim became Mexico’s richest man and how his rise may have come at the expense of Mexico’s growth.
