View random article

The World's Richest Man Announced

The world's richest man was announced by Forbes magazine this week. Carlos Slim Helu is a native of Mexico and also the world's weathiest billionare. Helu is worth an estimated $53.5 billion dollars and built his fortune in his native homeland. Helu purchased and privatized TelMax, the national phone company, from the Mexican government in 1990 and has continued to make wise investments in international businesses.

More recently, Helu dropped over $250 million dollars into the New York Times Company. In 2009, Helu managed to bail out the then failing business and has reaped the rewards since. Reports have speculated that the billionare will eventually and entirely buyout The New York Times. Helu has also boolstered his wealth and stakes in the New York Times by making a second investment in stocks that will eventually yield a return over 14 percent.

Despite the media's attempts to draw on Helu's wealth, he's by no means a fame seeker. Helu's deputy Arturo Elias reported to in 2009: "I will describe him as a the person with the lowest profile I've ever seen." Though Helu has dethroned the likes of Bill Gates, rounder of Microsoft, and Warren Buffett, American investor, from the thrown of Forbes Wealthiest list, Helu saves his fame for business and does not relish in the spotlight of the media.

Featured in Finance