Carlos Slim

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DEFINITION of 'Carlos Slim'

A magnate of the Mexican telecommunications industry. Slim made his early wealth in the stock market and has held controlling interests in many companies over the years, most significantly Telmex and América Móvil, which together account for most of the land lines and cell phones in Mexico. He has also held major investments in Apple, the New York Times Company, Saks, Grupo Carso, Inbursa, Ideal, CompUSA and MCI, among others.

INVESTOPEDIA EXPLAINS 'Carlos Slim'

Slim's wealth is comparable to that of Bill Gates and Warren Buffett, yet he is relatively unknown outside of Latin America. In 2010, Forbes' annual billionaire list ranked him as the wealthiest man in the world, ousting Bill Gates from the position.

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