Send
Print
ITU Pictures via flickr
In the current year, Mexican billionaire of Lebanese descent Carlos Slim has moved from third to fifth place in the ranking of 400 richest people in the world, according to the agency Bloomberg. Although it seems a small shift in monetary terms, it is a huge amount. The Mexican telecom tycoon’s wealth has decreased by almost $ 20 billion - from $ 72.6 billion to $ 53.9 billion. This is the biggest loss among the 400 billionaires in the world.
The greatest part of the 75-year-old billionaire’s state is 57-percent stake in America Movil company, the largest mobile operator in the Americas. Problem of this company had a huge impact on Carlos Slim’s financial situation. The loss was compensated neither by his investments in the holding company Grupo Carso, nor by shares in many other companies, including the New York Times, Philip Morris, Caixabank . Since the beginning of this year, shares of America Movil have experienced the most significant drop since 2008 - they fell by almost 23%. This was caused by several factors. In particular, tightening of the Mexican regulators’ requirements led to weakening of the company’s competitive advantages in Mexico, where it controls about 70% of the mobile market and 62% of the fixed line market. Regulators demanded America Movil to share infrastructure with other operators of mobile and fixed communications, depriving the company of its competitive position. In addition, this year has worsened the economic situation in Brazil, which is the second largest market for America Movil. Possibility of expansion in the European market and the United States shrunk as well. "In the short term we saw nothing significant that could attract investors, so all attention was drawn to the decline in profitability in the Mexican market, - Kevin Smiten, analyst at Macquarie Securities USA, commented on the situation in an interview with Bloomberg. - We need a more convincing strategy of expansion in Europe and improvement of the financial situation in Brazil to push stocks up."
This year, the only billionaire who has not changed position in Bloomberg’s world 400 richest people ranking became Bill Gates. He retained the first place, although his wealth decreased from $ 86.6 billion to $ 83.5 billion in less than 12 months. Spanish billionaire Amancio Ortega managed to blow up his fortune from $ 61.1 billion to $ 75.1 billion during the year, and finished in the second place. For now, Warren Buffett closes the top three. He was flung off from the second place due to capital reduction from $ 73.8 billion to $ 63.2 billion.
source: bloomberg.com
The greatest part of the 75-year-old billionaire’s state is 57-percent stake in America Movil company, the largest mobile operator in the Americas. Problem of this company had a huge impact on Carlos Slim’s financial situation. The loss was compensated neither by his investments in the holding company Grupo Carso, nor by shares in many other companies, including the New York Times, Philip Morris, Caixabank . Since the beginning of this year, shares of America Movil have experienced the most significant drop since 2008 - they fell by almost 23%. This was caused by several factors. In particular, tightening of the Mexican regulators’ requirements led to weakening of the company’s competitive advantages in Mexico, where it controls about 70% of the mobile market and 62% of the fixed line market. Regulators demanded America Movil to share infrastructure with other operators of mobile and fixed communications, depriving the company of its competitive position. In addition, this year has worsened the economic situation in Brazil, which is the second largest market for America Movil. Possibility of expansion in the European market and the United States shrunk as well. "In the short term we saw nothing significant that could attract investors, so all attention was drawn to the decline in profitability in the Mexican market, - Kevin Smiten, analyst at Macquarie Securities USA, commented on the situation in an interview with Bloomberg. - We need a more convincing strategy of expansion in Europe and improvement of the financial situation in Brazil to push stocks up."
This year, the only billionaire who has not changed position in Bloomberg’s world 400 richest people ranking became Bill Gates. He retained the first place, although his wealth decreased from $ 86.6 billion to $ 83.5 billion in less than 12 months. Spanish billionaire Amancio Ortega managed to blow up his fortune from $ 61.1 billion to $ 75.1 billion during the year, and finished in the second place. For now, Warren Buffett closes the top three. He was flung off from the second place due to capital reduction from $ 73.8 billion to $ 63.2 billion.
source: bloomberg.com
