We have all heard of Bill Gates and Warren Buffett, but neither of these men hold the title of “The Richest Man in the World” any longer. While they still have quite a fortune (in the billions mind you), Carlos Slim Helu has passed them by. He is now the richest man in the world.
Carlos was born on January 28, 1940 and is a well known businessman in Mexico and Latin America. He is the chairman and CEO of Telmex and America Movil, two very prominent telecommunications companies. With these, along with a few other companies, Carlos has an estimated net worth of $74 billion dollars (as of February, 2011).
What do you think of his $74 billion?
Seriously, give me your answer in the comments below.
Here’s what I would expect many people would say:
“He should really share that money with the rest of us. No one needs to have that much money.”
“I think he should be taxed higher than anyone else because of his great wealth!”
“He must be very greedy. I’m a better person because I don’t have an overindulgence of money.”
“He’s probably the reason Mexico has such poverty. He’s stealing all of the money somehow.”
Yes, Carlos Slim Helu is the richest man in the world, but that does not automatically mean that he does not deserve his wealth. According to the research I have done on Carlos, he started investing money when he was 12 years old, and works harder than 99.99% of the population. And, he devotes much of his time to learning, not watching television.
I say, good for Carlos. He worked very hard for his money and he deserves it. If I want billions of dollars, then I would have to work hundreds of times harder than I do currently to earn it.
Just because he is wealthy does not make him a selfish person either. Have you heard of Warren Buffett? He already has his will set up to donate 99% of his riches to charity, and only 1% to his family (don’t feel bad for the family though. 1% of $50 billion is still $500 million).
Carlos can share his money if he wants to (and he actually does make some great donations to the community), but if we require that he share it, then we can all call ourselves communists. And, based on history, we all know that that’s not a pretty accusation.
What is your take on this wealth? Do you wish you were a billionaire?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.