Thursday, March 11, 2010

As the world slept...

...Carlos Slim Helú, a Mexican of Lebanese Arab descent, became the richest man in the world, with a fortune estimated at $53.5 Billion. His wealth, (largely) built on monopolistic trade practices that make it cheaper for me to call a cell phone in Afghanistan than a land-line in Mexico (outside of Mexico City), now exceeds those of Bill Gates and Warren Buffett.

Back in 2007, when "Slim", as he's popularly known, first beat Buffett to 2nd place in Forbes rankings, this is what the magazine had to say about his piggy bank:
Slim's wealth is the equivalent of roughly 7% of Mexico's annual economic output. If Gates had a similar proportion in the U.S., he'd be worth $874 billion.
A living, honest to goodness robber baron, this one.

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