Thursday, August 7, 2025

Is Mexico’s richest man Sheinbaum’s secret weapon?

Carlos Slim Helú is a business titan and a man whose companies make up a whopping 6% of Mexico’s GDP. Once the richest person in the world, Slim is a self-made billionaire who’s shaped the face of modern Mexico.

Slim started out as a civil engineer, but by age 25, he was already running his own investment company. When the 1980s economic crisis hit, Slim saw opportunity where others saw disaster. He snapped up struggling businesses like Sanborns and General Tire, building the foundation for his powerhouse conglomerate, Grupo Carso.

 

View this post on Instagram

 

A post shared by Mexico News Daily (@mexiconewsdaily)

But his real game-changer came in 1990. As the Mexican government privatized Telmex, the national phone company, Slim teamed up with international partners to buy a controlling stake. That bold move launched him into the telecom world and paved the way for América Móvil, now the biggest mobile provider in Latin America.

Slim didn’t stop there. He’s invested in everything from construction to mining, and even became the largest individual shareholder of The New York Times by 2015. Today, his companies operate in 49 countries and employ more than 350,000 people.

Always close to the halls of power, Slim is now backing President Sheinbaum’s “Plan Mexico,” promising to invest in infrastructure, energy, and telecommunications to supercharge the country’s growth. He’s a vocal supporter of open investment and stronger ties between Mexico and the U.S. and he believes business can help Mexico beat trade challenges like the Trump tariffs.

In the latest installation of our “Who’s Who” political primer, María Meléndez asks if Carlos Slim could be the secret weapon President Sheinbaum needs to make “Plan Mexico” a reality? Can he help Mexico outsmart global trade hurdles? Drop your thoughts in the comments below!

Mexico News Daily

4 COMMENTS

Have something to say? Paid Subscribers get all access to make & read comments.
Sheinbaum 6 August 2025

New Sonora ‘border unit’ to focus on arms, drug trafficking: Wednesday’s mañanera recapped

0
The 18 state police officers who are part of the new unit completed "specialized training" with U.S. Customs and Border Protection (CBP) as part of a developing security agreement between Mexican and U.S. authorities.
President Sheinbaum with Canada’s Foreign Affairs Minister Anita Anand and Finance and Revenue Minister François-Philippe Champagne

Sheinbaum hosts Canadian ministers as Mexico works to uphold USMCA

0
During their two-day visit to Mexico City, Canada's finance and foreign affairs ministers attended meetings aiming to advance shared priorities such as economic growth, regional security and bilateral trade.
Sheinbaum 5 August 2025

Will the new bilateral security agreement permit US military intervention? Tuesday’s mañanera recapped

2
On Tuesday, the president spoke about a new Mexico-United States security agreement that is expected to be signed soon.
BETA Version - Powered by Perplexity