Carlos Slim … from a little boutique to an empire of gold
It is not surprising that a person will reach the top of wealth and success if he has large sums to enable him to do so. But the strange thing is that he set out from a small store containing a few goods whose value does not exceed a few thousand dollars to establish an empire worth tens of billions of dollars. But if the cause is known, the wonder is void; The hero of our story was able, thanks to his intelligence, intelligence, and love for learning and work, to make his way in the world of business and money, starting from a modest shop selling household items, where he learned by his father the arts of commerce and mastered it while he was still a little child.
It would not have occurred to his father that this child would one day become one of the giants of businessmen, and the third richest man in the world, the air between his hands would turn into gold! After this introduction, I think you know which man we are talking about? Yes, it is Carlos Slim, the Mexican businessman of Lebanese descent. So come to us to explore his career and his interesting story, by stopping at the stations of his life and getting acquainted with some of the secrets of his great successes and accomplishments, in order to extract from them the benefit and the lesson, perhaps it is a glimmer of hope on the road to those seeking fame and wealth.
Carlos Slim was born in Mexico in 1940. It is said that, since he was ten years old, he started making money; He used to buy some snacks and drinks to sell to his family. What may be surprising is that Carlos Slim was considered a businessman when he was still twelve years old. When he decided to buy shares in a Mexican bank. As for his academic qualifications, he is a civil engineer. Where he studied engineering at the National Autonomous University of Mexico.
Perhaps one of the remarkable things that deserves to be examined is that he used to control his expenses since he was a young man. He used to keep a notebook in which he recorded all his money on the one hand, and what he spent on the other hand. It is also noteworthy that the hero of our story founded a real estate company and worked as a broker on the Mexican Stock Exchange, where he was able to invest his savings in buying a group of companies. As soon as he reached the age of twenty-six, his wealth reached more than forty million dollars! Our friend was not satisfied with that, but he continued his journey in the world of business, money and investment. He established a financial brokerage company in 1965 and it expanded until it became invested in various types of companies.
During one of the financial crises that hit Mexico in 1987, stock prices fell sharply, and this led to many investors fearing a financial disaster, so they refrained from buying, while Carlos Slim saw that this is the time to buy so he bought a large number of shares, to sell them Later and make huge profits. Perhaps the most prominent characteristic of the hero of our story from other businessmen is that he buys enterprises that suffer from difficulties and problems, and turns them – thanks to his wisdom and ingenuity in management and investment – into gold mines!
In 1990, Carlos Slim took an important step that made a fundamental difference in his career. When he and his partners bought the Mexican government phone company “Telmex” for $ 1.7 billion, he managed to turn it into a gold mine generating big money. He also established the “America Movil” company and expanded its circle by engaging in acquisitions, reaching it to be the fourth largest wireless services company in the world. Carlos began to expand outside Mexico, by establishing “Telmex” in the United States and joining Microsoft. It is reported that his net worth is about 6.6% of Mexico’s GDP!
Perhaps the most prominent reasons behind the success of Carlos and the increase of his fortune: his superior ability and skill to manage his companies, buy troubled companies at low prices, and then reorganize them and turn them into a gold mine. His tendency to adventure and compete in competition is among the reasons for his wealth and unparalleled success, in addition to his unique investment strategy that includes buying shares in difficult times when their price falls, keeping them and then selling them when they recover and their price rises, an example of this is buying a share in The New York Times when its share price fell in 2008.
But did you know – dear reader – that Carlos Slim does not live in a manifold palace and does not own a group of luxury cars, and he does not own a private plane or a yacht with millions of dollars, but he has lived in a normal house for forty years and drives an old-style armored Mercedes ?!
And because life cannot always be giving; It also gives you take from you, as Carlos Slim suffered his biggest loss after Donald Trump won the presidential elections in the United States of America, where global financial markets lost about 41 billion dollars, Carlos’s share alone was 4.6 billion dollars, bringing his wealth to 45.2 billion Dollars.
We conclude this article with the most famous sayings of the hero of our story, and let us examine the lessons and lessons it bears.
Businessmen do more good when they provide jobs and wealth through investment, not be like “Santa Claus” who fulfills wishes.
Wealth is like a grove; What you must do is make it grow, and invest in it to become bigger, or diversify to enter other fields.
We know that crises are always temporary, and there is no evil that lasts a hundred years; There is always a jump. When there is a crisis there is an overreaction and an undervaluation of things.
The work week should be shorter, and I think people should only work three days.
Success secrets, secrets of financial success, financial awareness, wealth creation, success stories, Carlos Slim
Carlos Slim, from a little boutique to an empire of gold
Born on Sunday, January 28, 1940 as Carlos Slim Helú to parents who were both Maronite Catholics from Lebanon, Carlos Slim grew up to become the richest man in Mexico and the richest person in the world by the Forbes business magazine from 2010-2013.
Carlos Slim is a business magnate, engineer, investor and philanthropist currently ranked the seventh-richest person in the world according to Forbes’ listing of The World’s Billionaires with a net worth estimated at $61.3 billion as of June 2018.
In this video, we’ll share with you; 5 important lessons Young people should learn from Carlos Slim Try to watch to the end of this video because Secret No.
3 can change your life completely. If you’re new here, consider subscribing because we’ll help you to discover