This Carlos Slim profile (so far the link is subscriber only), from the June 1 issue of The New Yorker, is fascinating throughout. Here was my favorite bit:
Slim had already founded several charitable organizations, although he admitted to me: "I don't believe in charities too much…They can make you popular…but you don't solve any problems." Aside from his art museum, he has created the Telmex Foundation and the Carlos Slim Foundation, which have rather diffuse mandates. Through the Telmex Foundation, he has provided a hundred thousand computers to public schools, nearly two hundred thousands scholarships, seventy-eight thousand pairs of eyeglasses, and two hundred thousand bicycles, and has paid for nearly four hundred thousand surgeries; he also supports more than a hundred thousand soccer teams.
And people wonder why he wishes to finance The New York Times. He says he does read the paper, but only when he's in the USA.
Am I reading this right ? A 100,000 soccer teams ?
don’t short. Wait for the bulls to exhaust themselves which may not be for awhile.
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Slim reminds me of a Rockefeller or JP Morgan, in that he has used a combination of smarts, business prowess and political connections to capture a semi-monopoly in telephony, and then leveraged that into dominating other sectors of the Mexican economy. The American “robber barons” have been historically vilified, which is evidently not happening to Carlos.
Talking of Trust-busting, beyond the wet blanket laying upon the economic dynamism of Mexico from Slims dominance of telephony, has anyone calculated how much monopoly rent Slim has extracted from the Mexican economy, and whether it exceeds all those charitable giving’s in value. It seems strange to hear a guy who makes everyone in Mexico pay mort for a phone call than anyone else in a comparable economy, talk of charitable giving.
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