New Richest Man

Fetusaurus Rex · 07-06-2007, 09:02 AM

Mexican tycoon passes Bill Gates as planet's richest person - Yahoo! News

Quote:

Wed Jul 4, 5:13 AM ET

MEXICO CITY (AFP) - Mexican telecom tycoon Carlos Slim Helu has overtaken Microsoft founder Bill Gates as the richest person on the planet, the Mexican financial website Sentido Comun reported.
ADVERTISEMENT
click here

Sentido Comun said the Mexican billionaire's wealth had rocketed past Gates following the red-hot performance of his telecommunications firm, America Movil.

US-based Forbes magazine, renowned for its rankings of the world's wealthiest individuals, updated its listings in April to rank Slim as the second richest individual in the world, as he bested the legendary US investor Warren Buffett.

The Mexican financial website said Slim's lead over Gates amounted to billions of dollars.

"Thanks to a 26.5-percent rise in the shares of America Movil during the second quarter, Slim, who controls a 33-percent interest in Latin America's largest mobile phone company, is substantially richer than Gates," Sentido Comun said.

"The difference between their two fortunes is around nine billion dollars in favor of Slim," the financial website claimed.

It said it had based its calculations largely on the share price movements of companies controlled by Slim.

The website said soaring performances from Slim's other business interests had also helped propel him past Gates.

Aside from America Movil, Slim controls the INBURSA financial group and the Grupo Carso industrial firm with interests spanning retail stores, coffee shops and restaurants.

One reason for Slim's meteoric rise might be because he is also still working.

Gates stepped aside as Microsoft chief in 2000 to devote his energies to the philanthropic foundation he runs with his wife, Melinda.

Forbes in April had pegged Slim's wealth at a staggering 53.1 billion dollars, and said Gates was sitting on a 56-billion-dollar fortune.

Slim, the son of Lebanese immigrants, has had business in his blood from his early days when he helped out in his father's shop, "The Star of the Orient."

The 67-year-old started out in real estate and was already affluent enough when he graduated from university with an engineering degree to buy stakes in a stock brokerage and a bottling firm.

During the crippling Latin American economic crisis of the early 1980s, Slim snapped up and reformed a number of distressed businesses, banking massive profits for Grupo Carso.

Carso gained its name from the first three letters of Slim's name and the first two of his late wife's, Soumaya Gemayel.

Analysts say one of Slim's smartest and most lucrative deals occurred when he took control of Telefonos de Mexico (Telemex) in 1990 as the then government moved to privatize the sprawling monopoly.

Slim oversaw a 1.8-billion-dollar investment to take over Telemex, but he then overhauled the company and expanded its service as the telecom firm became the star of the Mexican stock exchange and more than returned Slim's initial investment.

The Mexican billionaire has also made some savvy stock picks.

In 1997, he bought about three percent of Apple Computer at 17 dollars a share shortly before the company launched its hit iMac computer. Twelve months later, Apple's shares topped 100 dollars.

Despite his vast riches, Slim reportedly shuns corporate jets and flashy offices and sported a plastic watch during the 1990s.

Widowed in 1999, Slim has boosted his philanthropic presence and overseen his three sons' careers within his business empire.

Like Gates, he has developed a strong profile on the philanthropic front.

Earlier this month he allied himself with the foundation of former US president Bill Clinton and with Canadian mining magnate Frank Giustra to launch an anti-poverty campaign in Latin America.

Fifty-three percent of Mexico's population of 104 million live in poverty, which is defined as living on less than two dollars a day, World Bank data show.

MeatZatk · 07-06-2007, 09:35 AM

Yeah, it sounds like Gates has fallen on tough times. He played at the golf course I work at last Sunday and gave the caddie $20 after the round. The minimum fee for a caddie is $35. They had to call the 60 billion dollar guy back down to the caddie shack for the extra $15.

Fetusaurus Rex · 07-06-2007, 09:37 AM

Quote:

Originally Posted by MeatZatk

Yeah, it sounds like Gates has fallen on tough times. He played at the golf course I work at last Sunday and gave the caddie $20 after the round. The minimum fee for a caddie is $35. They had to call the 60 billion dollar guy back down to the caddie shack for the extra $15.

are you serious?

Little Wing · 07-06-2007, 12:41 PM

Quote:

Originally Posted by MeatZatk

Yeah, it sounds like Gates has fallen on tough times. He played at the golf course I work at last Sunday and gave the caddie $20 after the round. The minimum fee for a caddie is $35. They had to call the 60 billion dollar guy back down to the caddie shack for the extra $15.

KelJu · 07-06-2007, 12:45 PM

Yeah, Bill is notorious for being a cheap bastard to be so rich.

**IainDaniel** · 07-06-2007, 12:45 PM

There is a reason rich people are rich, and it isn't for frivolously spending there money.

KelJu · 07-06-2007, 12:49 PM

Quote:

Originally Posted by IainDaniel

There is a reason rich people are rich, and it isn't for frivolously spending there money.

Being generous isn't being frivolous. Bill Gates is a piece of shit, end of story.

Little Wing · 07-06-2007, 12:50 PM

isn't being a caddy a tough job? i think i'd rather be a poor nice person than a rich asshole.

MeatZatk · 07-06-2007, 12:55 PM

The course is pretty tough to walk, so yeah carrying bags for 5+ hours can be brutal when it's hot out. I'm not saying he should have given the guy $200 bucks or anything, but give him at least the minimum fee.

AKIRA · 07-06-2007, 12:57 PM

Quote:

Originally Posted by MeatZatk

The course is pretty tough to walk, so yeah carrying bags for 5+ hours can be brutal when it's hot out. I'm not saying he should have given the guy $200 bucks or anything, but give him at least the minimum fee.

5 hours? for 20 bucks? thats not even minmum wage.

KelJu · 07-06-2007, 12:58 PM

Quote:

Originally Posted by AKIRA

5 hours? for 20 bucks? thats not even minmum wage.

The get paid. The tip is just extra.

AKIRA · 07-06-2007, 01:01 PM

Dont be harsh on Billy. I mean, he endorses the new Windows Vista, which is top of the line software.

shiznit2169 · 07-06-2007, 01:01 PM

I'm an avid golfer and i have caddied before. Depending on who you caddie for, it can be a lot of work especially if they play 4 rounds of golf from thursday til sunday in a tournament. It really puts a lot of pressure on your shoulders and you can be sore after the round is over. Unlike Gates, most guys tip pretty well. I have been tipped more than $100 dollars a few times.

MeatZatk · 07-06-2007, 01:08 PM

Quote:

Originally Posted by KelJu

The get paid. The tip is just extra.

No, we only get paid if we carry the bags. We get the $35 plus tip. Average round pays $50 which equals $10/hour.

MeatZatk · 07-06-2007, 01:09 PM

A couple guys have brought in over $300 for a round, I however have not been so fortunate yet.

rooptophunny · 07-06-2007, 01:46 PM

wow... interesting news. i wonder who will be next?

07-06-2007, 09:35 AM	#2
MeatZatk Registered User Join Date: Feb 2004 Location: Tacoma, WA Posts: 943 Photos: 5	Yeah, it sounds like Gates has fallen on tough times. He played at the golf course I work at last Sunday and gave the caddie $20 after the round. The minimum fee for a caddie is $35. They had to call the 60 billion dollar guy back down to the caddie shack for the extra $15.
	Define Definition

07-06-2007, 12:45 PM	#6
IainDaniel My Role Model Moderator Join Date: Nov 2002 Location: Ontario, Canada Posts: 15,381	There is a reason rich people are rich, and it isn't for frivolously spending there money.
	Obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it. Michael Jordan

07-06-2007, 12:55 PM	#9
MeatZatk Registered User Join Date: Feb 2004 Location: Tacoma, WA Posts: 943 Photos: 5	The course is pretty tough to walk, so yeah carrying bags for 5+ hours can be brutal when it's hot out. I'm not saying he should have given the guy $200 bucks or anything, but give him at least the minimum fee.
	Define Definition

07-06-2007, 01:01 PM	#12
AKIRA I am Rollo Tomassee.. Elite Member Join Date: Jul 2005 Location: Outside the box Posts: 7,652 Photos: 3	Dont be harsh on Billy. I mean, he endorses the new Windows Vista, which is top of the line software.
	6' 209lbs (8/16) Bench 360 (11/29) Weighted Pullups 80lbs 3x3 (3/19) Squat 370 Deadlift after herniation 385lbs 3x3 (3/17) NASM certified 2/06 Journal

07-06-2007, 01:01 PM	#13
shiznit2169 flawless Join Date: Mar 2005 Location: Massachusetts Posts: 4,059 Photos: 3	I'm an avid golfer and i have caddied before. Depending on who you caddie for, it can be a lot of work especially if they play 4 rounds of golf from thursday til sunday in a tournament. It really puts a lot of pressure on your shoulders and you can be sore after the round is over. Unlike Gates, most guys tip pretty well. I have been tipped more than $100 dollars a few times.
	My Journal

07-06-2007, 12:50 PM	#8
Little Wing SEMPER~FIDELIS Elite Member Join Date: Mar 2004 Location: United States Posts: 21,052 Blog Entries: 1 Photos: 191	isn't being a caddy a tough job? i think i'd rather be a poor nice person than a rich asshole.

07-06-2007, 01:09 PM	#15
MeatZatk Registered User Join Date: Feb 2004 Location: Tacoma, WA Posts: 943 Photos: 5	A couple guys have brought in over $300 for a round, I however have not been so fortunate yet.
	Define Definition

07-06-2007, 01:46 PM	#16
rooptophunny Registered User Join Date: Jun 2007 Posts: 43	wow... interesting news. i wonder who will be next?

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode