Carlos Slim’s Empire and the Future of North America

The business empire of Mexico’s wealthiest person is rooted in opaque political patronage that undercuts the country’s growth prospects but aligns with U.S. preferences.

Carlos Slim in 2013 in Geneva, Switzerland. Photo by Carlos Slim Foundation. Source.

With a net worth of about $96 billion as of May 2023, 83-year-old Carlos Slim Helú is the wealthiest person in Mexico and the tenth-wealthiest person in the world.¹ Slim has a unique profile among the world’s most wealthy people. While almost all are from the United States, especially from the technology industry, and a handful are from Europe or Asia, Slim has built his fortune through a business empire based in a middle-income country with a relatively stagnant and low-growth economy despite its close geographical and economic proximity to the United States, the world’s largest economy and foremost superpower.