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72-743: The Torre Latinoamericana was Mexico's tallest completed building for almost 27 years, from its opening in 1956 until 1982 when the 214 m (702 ft) tall Torre Ejecutiva Pemex was completed. Although the structure of the Hotel de México (now known as the WTC Mexico City ) had already surpassed it a decade earlier, it wouldn't be finished until 1994. Many think it was the first skyscraper in Mexico. However, skyscrapers may have first appeared in Mexico City between 1910 and 1935. The tallest of

144-496: A syndicate holding structure the Austrian state holding company OIAG's 28% are combined with Slim's 27% ownership. América Móvil will spend as much as US$ 2   billion to buy out minority shareholders in a mandatory public offer and invest up to 1   billion euros ( US$ 1.38   billion ) into the company, which it sees as "platform for expansion into central and eastern Europe". Labor representatives boycotted attending

216-580: A 40% and 50% interest in the Mexican arms of British American Tobacco and The Hershey Company , respectively. He acquired large blocks of Denny's and Firestone Tires . From Seguros de México, Fianzas La Guardiana and Casa de Bolsa Inbursa, he formed the Grupo Financiero Inbursa , a Mexican financial services provider. Many of these corporate acquisitions were financed by the income-generating revenues and cash flows derived from Cigatam,

288-564: A 50.1% stake in the Cigatam tobacco manufacturer, Slim sold a large portion of his equity to Philip Morris for US$ 1.1   billion. During the same year, Slim sold off his entire stake of Porcelanite for US$ 800 million, a Mexican tile-maker that he acquired back in 1990. He also licensed the Saks name and opened the Mexican arm of Saks Fifth Avenue retailer in Santa Fe , Mexico. Also in 2007,

360-765: A Mexican real estate agency and holding company. Companies in the Mexican construction, soft drink, printing, real estate, bottling and mining industries were the initial focus of Slim's burgeoning business career. He later expanded his business operations and commercial activities by venturing into numerous industries across the Mexican economy including auto parts, aluminum, airlines, chemicals, tobacco, cable and wire manufacturing, paper and packaging, copper and mineral extraction, tires, cement, retail, hotels, beverage distributors, telecommunications and financial services (Slim's Grupo Financiero Inbursa sells insurance and manages mutual funds and pension plans for millions of ordinary Mexicans). By 1972, he had established or acquired

432-533: A Mexican tilemaker. To ultimately realize his further commercial business ambitions and reap the material benefits that would eventually transpire through the acquisition of Telmex , Slim acted in concert later in 1990 with the French telecom operator France Télécom and the American telco Southwestern Bell Corporation to purchase the landline telecommunications service provider from the Mexican government, when

504-443: A Mexican tobacco distributor that he purchased in the economic downturn that hit Mexico during the early 1980s. In 1988, Slim bought Nacobre, a Mexican copper manufacturer that manufactured, marketed and distributed copper and copper alloy products, along with Química Fluor, a Mexican chemical maker. Slim realized windfall profits in the early 1990s when the Mexican government began privatizing its telecom industry. Capitalizing on

576-417: A competitive edge in the business world, especially when analyzing the financial statements of prospective companies while making his business decisions as well as evaluating potential investment acquisitions and stock purchases. After graduating from university in 1961, Slim launched his business career by starting off as a stock trader in Mexico, often working 14-hour days to make a name for himself in

648-523: A cover story profiling Slim. The article said, "While the market value of his stake in publicly traded companies could decline at any time, at the moment he is probably wealthier than Bill Gates ". According to The Wall Street Journal , Slim credits part of his ability to "discover investment opportunities" early to the writings of his friend, futurist author Alvin Toffler . On 8 August 2007, Fortune magazine reported that Slim had overtaken Gates as

720-615: A further seven businesses in these industry categories, which included the acquisition of a construction equipment rental company. In 1980, he consolidated his business interests by forming Grupo Galas as the parent company of a conglomerate that had interests in industrial manufacturing , construction , mining , retail , food, and tobacco . In 1982, the Mexican economy contracted rapidly . As many banks were struggling and foreign investors were cutting back on investing and scurrying, Slim began investing heavily and acquired shares in

792-434: A huge seismic force" (as is attested by plaques in the building's lobby and observation deck). However, an even greater test came, by far, with the magnitude 8.1 September 19, 1985 earthquake , which destroyed many buildings in Mexico City, especially the ones built downtown, in the tower's neighborhood. The Torre Latinoamericana withstood this force without problems, and has thus become a symbol of safety in Mexico City. Today

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864-399: A manifold of stakes across a wide range of industries, thereby making the overall conglomerate nearly recession-proof in the event that one or more industry sectors of the Mexican economy underperform. Amidst the Mexican economic downturn before its gradual recovery in 1985, Slim invested heavily by snapping up numerous Mexican flagship companies for pennies on the dollar. He purchased all or

936-546: A number of soil mechanics studies in the construction site, and designed the structure accordingly. Today this is common and even mandatory practice, but at the time it was quite an innovation. The tower gained notoriety when it withstood the magnitude 7.9 1957 earthquake , thanks to its outstanding design and strength. This feat garnered it recognition in the form of the American Institute of Steel Construction Award of Merit for "the tallest building ever exposed to

1008-541: A pair of 26-story towers to house Pemex's administrative offices. However, the 1980s oil boom demanded office space growth and Pemex decided to build a single 51-story tower in a downtown lot with a huge plaza covering an underground avenue. The building is anchored to the ground, resting on 164 concrete and steel piles that penetrate to a depth of 35 meters surpassing the old filling swampy lake to reach firmer ground. In addition, its x-braced structure features 90 shock-absorbers to minimize oscillations from earthquakes. The tower

1080-510: A plethora of Mexican flagship businesses outright at depressed valuations. Much of Slim's business dealings involved a simple strategy, which entails buying a business and retaining it for its cash flow , or eventually selling the stake at a greater profit in future, thereby netting the capital gains as well as reinvesting the initial principal into a new business. In addition, the complexity of Grupo Carso's corporate conglomerate structural labyrinth web of companies allows Slim to purchase

1152-537: A prominent businessman and wealthy investor who remained a reputable pillar within the Lebanese Mexican community, Julian was known for his shrewd business acumen and his astute knack when making investments during bad economic cycles (which occurred frequently in Mexico). Julián was known for his business savvy, strong work ethic, and commitment to traditional Lebanese moral values. In February 2011, Julian,

1224-402: A sizeable percentage of numerous Mexican businesses outright at significant discounts. Among the panoply of acquisitions that Slim procured included Empresas Frisco, a mining concessionary and chemical maker, Industrias Nacobre, a copper manufacturer, Reynolds Aluminio, a Mexican aluminum concern, Compañía Hulera Euzkadi (Mexico's largest tire maker), and Bimex hotels, a hotel chain. He also became

1296-461: A stake in the Spanish bank, Bankia , which couples with Slim's other purchase of Realia, a Spanish real estate company, where Slim is the second largest shareholder holding a 25% equity stake, behind Fomento de Construcciones y Contratas , a Spanish construction company where Slim is also an active minor shareholder. On April 15, 2015, Slim formed the oil company Carso Oil & Gas. A report that

1368-508: A technology startup that ranks the world's hedge funds creating in-depth behavioral profiles and business analytics. Limited partners pay US$ 30,000 per subscription while hedge fund managers pay half the price and also sign up for a free version of the products the company offers. On June 12, 2024, Slim acquired a 3% stake in British telecommunications company BT worth approximately £400million. Slim's father, Khalil Salim Haddad Aglamaz,

1440-502: A vast array of various cash flow-producing assets that included large swathes incoming-producing investment-grade real estate, a multifarious assemblage of privately-controlled businesses, and stocks. In August 1926, Julián Slim married Linda Helú Atta. Linda, of Lebanese ancestry, was born in Parral, Chihuahua . Her parents had immigrated to Mexico from Lebanon in the late 19th century. Upon immigrating to Mexico, her parents founded one of

1512-469: Is an office skyscraper in Mexico City . The 211-metre (692 ft) international style tower was built between 1979 and 1984. Since the building's opening, it has been occupied by state-owned Pemex , one of the largest petroleum companies in the world. The Pemex Executive Tower originally proposed to replace two 14-story towers built between 1967 and 1970. Later, these buildings were replaced by

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1584-515: The FM transmission facilities for Radio Fórmula 's two FM stations in Mexico City, XERFR-FM 103.3 and XEDF-FM 104.1. Plans for the tower include a facelift, which will remodel the building's exteriors using new materials while maintaining the original design and look; since the tower is considered a historical monument, its exterior look cannot be altered. Torre Ejecutiva Pemex The Pemex Executive Tower ( Spanish : Torre Ejecutiva Pemex )

1656-631: The Honorary Lifetime Chairman of the business. In 2008, Slim took a 6.4% stake valued at $ 27 million in the New York Times Company , a prominent American newspaper publisher. Slim increased his stake to 8% by 2012. Slim's stake in the Times increased again to 16.8% of the company's Class A shares on 20 January 2015 when he exercised stock options to purchase 15.9 million shares, making him the largest shareholder in

1728-566: The Israeli startup Mobli , a company that deals with connections between people and communities corralled according to different interests. In December 2013, Slim's private equity fund, Sinca Inbursa, sold its stake in the Mexican pharmaceutical company Landsteiner Scientific. Slim acquired a 27.51% stake in the company in June 2008, which represented 6.6% of Sinca's investment portfolio. The private equity fund's investments are mainly concentrated in

1800-443: The Mexican business world. In 1965, profits from Slim's private business and investment ventures reached US$ 400,000 , enabling him to start the stock brokerage house Inversora Bursátil. He also began laying the financial groundwork for his eventual conglomerate, Grupo Carso. In 1965, he also acquired Jarritos del Sur, a Mexican bottling and soft drink company. In 1966, worth US$ 40   million , he established Inmuebles Carso,

1872-614: The Mexican carrier Telcel and ISP Telmex , a state-run-gone-private company which maintained a virtual monopoly for many years after Slim's acquisition. He accounts for 40% of the listings on the Mexican Stock Exchange , while his net worth is equivalent to about 6% of Mexico's gross domestic product. As of 2016, he was the largest single shareholder of non-voting shares of the New York Times Company . In 2017, he sold half of his shares. Slim

1944-570: The Mexican retail department store chain owned by Slim controls a majority stake in Mixup, Mexico's most successful retail music store that comprises a chain of 117-store Mexican retailers Mixup also generated more than US$ 320   million in revenue in 2014. In March 2015, Slim made his presence known in the Spanish business scene by buying stakes in various troubled Spanish companies while perusing potential acquisitions across Europe. Slim's investment company, Inmobiliaria Carso, announced it will buy

2016-450: The OIAG supervisory board meeting for 12 hours criticizing the lack of explicit job guarantees. In January 2015, Grupo Carso publicly launched Claro Musica, an online music service that is a Latin American equivalent of iTunes and Spotify . Slim, along with his son, increased their corporate presence in Mexico's music industry, particularly in the retail music sector since 2013. Sanborn's,

2088-485: The Tlatoani Mexica Moctezuma II. After the conquest, there was built Convent of San Francisco. Later, the monastery was disbanded and most of its property confiscated. The Torre Latinoamericana was built to headquarter La Latinoamericana, Seguros, S.A., an insurance company founded on April 30, 1906. The building took its name from this company as it began to be built during the postwar boom of

2160-522: The United States as a target destination to exploit potential foreign investment acquisitions and new emerging business opportunities. Slim made headlines within the American business scene in 2003 when he began purchasing large stakes in a number of major US retailers such as Barnes & Noble , OfficeMax , Office Depot , Circuit City , Borders , and CompUSA . Much of the rationale behind Slim's international commercial expansion beyond Mexico

2232-467: The acronym "IDEAL"—roughly translated as "Promoter of Development and Employment in Latin America"), a Mexican construction and civil engineering company primarily engaged in not-for-profit infrastructure development. Since 2006, IDEAL won three infrastructure contracts yet it faces stiff competition from a number of other Mexican and Spanish construction companies. In 2007, after having amassed

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2304-511: The age of 12, he made his first stock investment, by buying shares outright of a Mexican bank. By the age of 15, Slim had become a shareholder in Mexico's largest bank. At the age of 17, he earned 200 pesos a week working for his father's company. He went on to study civil engineering at the National Autonomous University of Mexico , where he also concurrently taught algebra and linear programming . Though Slim

2376-425: The bevy of potential business opportunities that could crop up and be exploited through this political change motivated Slim and his conglomerate Grupo Carso to acquire Telmex, a landline telecommunications operator from the Mexican government. In 1990, Grupo Carso was floated as a public company initially in Mexico and then worldwide. During the same year, Grupo Carso also acquired a majority ownership of Porcelanite,

2448-1233: The cable channel Fox Sports in Mexico and the rest of Latin America, and the website mediotiempo.com. The games are also broadcast on the Internet through UNO TV, offered by Telmex. Slim has been involved with broadcasting sports outside Mexico to larger markets such as the United States. In March 2012, América Móvil acquired the broadcast rights for the Olympic Games in Sochi 2014 and the Brazil 2016 for Latin America. In March 2012, Slim, along with American television host Larry King , established Ora TV , an on-demand digital television network that produces and distributes television shows including Larry King Now , Politicking with Larry King , Recessionista, and Jesse Ventura Uncensored . In September 2012, Slim bought 30% stakes in Pachuca and León , two Mexican soccer teams through his telecommunications company América Móvil. In December 2012, he bought all

2520-464: The companies controlled by Slim where most are involved in the day-to-day running of Slim's business empire. Slim underwent heart surgery in 1999. In high school, Slim's favorite subjects were history, cosmography , and mathematics. Slim and his wife had a very happy marriage, and he indicated that he does not intend to remarry. In his office, Slim does not have a computer, and instead keeps all his financial data in hand-written notebooks. Due to

2592-516: The company made further investments across Latin America, with companies in Colombia , Nicaragua , Peru , Chile , Honduras , and El Salvador , well as a joint venture with the American software house, Microsoft called Tlmsn, a Spanish-language web portal. In 2005, Slim invested in Volaris , a Mexican airline and founded Impulsora del Desarrollo y el Empleo en América Latina SAB de CV (using

2664-501: The company. The New York Times Company's Class A shares are available for purchase by the public and offer less control over the company than Class B shares, which are privately held. According to the company's 2016 annual filings, Slim owned 17.4% of the company's Class A shares, and none of the company's Class B shares. In 2012, Slim sold the broadcast rights for the Leon games to the American terrestrial television network, Telemundo ,

2736-789: The estimated value of all of Slim's companies totaled US$ 150   billion. On December 8, 2007, Grupo Carso announced that the remaining 103 CompUSA retail stores would be either liquidated or sold, bringing an end to the struggling company, although the information technology division of CompUSA continued operating under the name Telvista around various American cities such as Dallas , Texas (U.S. Corporate Office) and Danville, Virginia . Telvista also has five centers in Mexico (three in Tijuana, one center in Mexicali, and one in México City). After 28 years of corporate involvement, Slim became

2808-481: The first Arabic-language magazines for the Lebanese-Mexican community, using a printing press they had brought with them. Julian and Linda had six children: Nour, Alma, Julián, José, Carlos, and Linda. Julián senior died in 1953, when Carlos was 13 years old. Julian's panoply of successful business ventures and investment undertakings became the source of considerable wealth for himself and his family. As

2880-722: The holding company for América Móvil, was incorporated in 2000. Concurrently, Telmex also spun off its international cellular phone division for a $ 15 billion listing of América Móvil SA on the New York Stock Exchange. Telmex has taken numerous stakes of various international cellular telephone operators outside of Mexico, including the Brazilian ATL and Telecom Americas concerns, Techtel in Argentina , and others in Guatemala and Ecuador . In subsequent years,

2952-403: The late 1940s, which lasted until the early 1970s. At the time of its construction, the insurance company was controlled by the Mexican tycoon Miguel S. Macedo, who headed one of Mexico's largest financial consortiums at the time. Originally the insurance company occupied a smaller building at the same location. In 1947 it temporarily relocated to a nearby office while the tower was built. Once it

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3024-531: The majority shareholder of Sanborn Hermanos , a prominent Mexican food retailer, gift shop and restaurant chain, which was later incorporated as Grupo Carso's retailing arm. In 1984, Slim spent US$ 13   million to acquire Mexican insurance agency Seguros de México, and later subsumed the company into the firm, Seguros Inbursa. The value of his stake in Seguros eventually grew to being worth US$ 1.5   billion by 2007, after four spinoffs. Slim also acquired

3096-537: The most damage). A gas leak and following accumulation ignited by sparks is believed to be the cause of the explosion. Employees said that the Torre Ejecutiva swayed and vibrated for a few seconds. Carlos Slim This is an accepted version of this page Carlos Slim Helú ( Spanish pronunciation: [ˈkaɾlos esˈlin eˈlu; - esˈlim -] ; born 28 January 1940) is a Mexican business magnate, investor, and philanthropist. From 2010 to 2013, Slim

3168-402: The oldest brother of Carlos, died aged 74. He was an active businessman and worked in one of Mexico's top intelligence agencies. Carlos Slim was married to Soumaya Domit from 1967 until her death in 1999. Among her interests were various philanthropic projects. Slim has six children: Carlos , Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna. His three older sons serve in key positions in

3240-484: The opportunity for Slim to purchase the telco presented itself and materialized when Mexico began privatizing its national industries at the turn of the 1980s. Slim was an early investment backer in Telmex, where the concomitant income-producing cash flows and revenue-generating profits of the telecommunications provider eventually formed the bulk of his private fortune. By 2006, Telmex controlled and operated 90 percent of

3312-447: The point where he had a majority interest in the company. In 1996, Slim split Grupo Carso into three separate constituent companies: Carso Global Telecom, Grupo Carso, and Invercorporación. In the following year, Slim bought the Mexican arm of Sears Roebuck. In 1999, Slim began expanding his business interests beyond Latin America. Though the bulk of his business holdings remained in Mexico, he began setting his sights on exploring

3384-488: The quake while the surrounding buildings collapsed. The truth is that during the September, 1985 earthquake, which took place at 7:19, Adolfo Zeevaert was already inside his office on the 25th floor. From that vantage point he was able to witness the destruction taking place while several buildings collapsed and the dust cloud that followed, all the while feeling the movement inside the tower. It could arguably be said that it

3456-502: The rest of Mexican soccer's first division. In July 2013, Slim's company América Móvil invested US$ 40   million in Shazam , a British commercial mobile phone-based music identification service for an undisclosed share of ownership. América Móvil partnered with the company to aid its growth into advertising and television and help the audio recognition service expand in Latin America. In November 2013, Slim invested US$ 60 million in

3528-568: The richest person in Latin America . Slim's corporate conglomerate spans numerous industries across the Mexican economy, including education, health care, industrial manufacturing, transportation, real estate, mass media, mining, energy, entertainment, technology, retail, sports and financial services. However, the core of his fortune derives from telecommunications, where he owns América Móvil (with operations throughout Latin America) and

3600-445: The shares of the second division team Estudiantes Tecos . Slim has also completed business deals for the television rights to games of the Leon soccer team. His company América Móvil purchased 30 percent of the team along with transmission rights as Slim does not have the rights to transmit content by broadcast television or cable TV as well as putting him in competition with Televisa and TV Azteca, two television companies with rights to

3672-570: The telephone lines in Mexico, and his wireless telecommunications company, Telcel , which was created out of the Radiomóvil Dipsa company, operated almost 80 percent of the entire country's cellphones. In 1991, he acquired Hoteles Calinda (now OSTAR Grupo Hotelero), a hotel chain and in 1993, he increased his stakes in General Tire , an American tiremaker and a distributor of aluminum profiles and aluminum concern Grupo Aluminio to

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3744-576: The time of his arrival. In 1911, Julián established a dry goods retail store, La Estrella de Oriente (The Star of the Orient). By 1921, he had begun investing in real estate in the flourishing commercial district of Mexico City where Julián acquired prime Mexican real estate at fire sale prices and in the Zocalo District during the 1910–17 Mexican Revolution . By 1922, Julián's net worth reached $ 1,012,258 pesos , shrewdly diversified among

3816-638: The time, the International Capital Building ( Edificio Internacional de Capitalización ) was completed in 1935. This building was surpassed by the Edificio Miguel E. Abed , which, in turn, was surpassed by the Latinoamericana Tower. The Latinoamericana Tower opened its doors on April 30, 1956. The Torre Latinoamericana was built on the place which was formerly occupied by the animal house, some kind of zoo of

3888-447: The tower celebrated its 50th anniversary. A ceremony was held on April 30, 2006, which included the reopening of the newly remodeled 37th to 44th floors, a site museum, and a fully remodeled Mirador, or observation deck, designed by Danish-born architect Palle Seiersen Frost. Also on that occasion were unveiled some recognitions granted by several architectural, engineering and communications institutions. The Torre Latinoamericana contains

3960-447: The tower is considered one of the safest buildings in the city despite its potentially dangerous location. While it was being built, detractors said that there was no way a building of that size could withstand one of Mexico City's earthquakes. There is a legend that on the day of the 1957 earthquake, Dr. Leonardo Zeevaert was inspecting something or other on the roof of the tower, and that he got to see and feel how his tower withstood

4032-487: The tower withstood a magnitude 8.1 earthquake , as well as other strong earthquakes that commonly strike Mexico City. The building was designed to withstand an earthquake of 8.5 on the Richter scale. On 31 January 2013, a powerful explosion rocked the tower, claiming 37 lives and injuring approximately 126. The explosion is believed to have occurred in the basement of the building's link to an adjacent building (which took

4104-457: The transportation and infrastructure sectors and the fund garnered a total market cap of 5.152 billion pesos at the end of 2012. On 23 April 2014, Slim took control of Telekom Austria , Austria's largest telecommunications company, which operates telcos in countries such as Bulgaria, Croatia, and Belarus, under a 10-year agreement. It was Slim's first successful business acquisition in Europe. In

4176-517: The vast size of his business empire, he often jokes that he cannot keep track of all the companies he manages. Slim is a Maronite Catholic , and he is one of the prominent backers of Legion of Christ , a Roman Catholic religious institute . On 29 March 2007, Slim surpassed American investor Warren Buffett as the world's second richest person with an estimated net worth of US$ 53.1   billion compared with Buffett's US$ 52.4   billion . On 4 August 2007, The Wall Street Journal ran

4248-584: The wealthiest person in the world, with his fortune estimated at US$ 74   billion . In December 2012, according to the Bloomberg Billionaires Index , Carlos Slim Helú remained the world's richest person with an estimated net worth of US$ 75.5   billion . On 5 March 2013, Forbes stated that Slim was still maintaining his first-place position as the wealthiest person in the world, with an estimated net worth of US$ 73   billion . On 16 May 2013, Bloomberg L.P. ranked Slim

4320-590: The world's richest person, with a net worth of US$ 53.5   billion . At the time, Gates and Buffett had a net worth of US$ 53   billion and US$ 47   billion respectively. He was the first Mexican to top the list. It was the first time in 16 years that the person on top of the list was not from the United States. It was also the first time the person at the top of the list was from an emerging economy. Between 2008 and 2010, Slim more than doubled his net worth from $ 35 to $ 75 billion. In March 2011, Forbes stated that Slim had maintained his position as

4392-562: The world's richest person. Slim's estimated fortune soared to US$ 59   billion , based on the value of his public holdings at the end of July. Gates' net worth was estimated to be at least US$ 58   billion . On 5 March 2008, Forbes ranked Slim as the world's second-richest person, behind Warren Buffett and ahead of Bill Gates. On 11 March 2009, Forbes ranked Slim as the world's third-richest person, behind Gates and Buffett and ahead of Larry Ellison . On 10 March 2010, Forbes once again reported that Slim had overtaken Gates as

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4464-449: The young Carlos in the importance of keeping accurate financial records when doing business. At the age of 11, Slim invested in a government savings bond, which taught him about the concept of compound interest . Adhering to his father's emphasis on the importance of keeping accurate financial records, he eventually saved every financial and business transaction he ever made into a personal ledger book, which he still keeps to this day. At

4536-470: Was a civil engineering major, he also displayed an interest in economics. Broadening his academic interests outside his traditional area of study beyond civil engineering, he took economics courses in Chile when he completed his engineering degree. Graduating as a civil engineering major, Slim has stated that his mathematical ability and his background of linear programming was a key factor in helping him gain

4608-592: Was born on 17 July 1888 in Jezzine , Lebanon (then part of the Ottoman Empire ). In 1902, at the age of 14, Haddad emigrated to Mexico alone, and later changed his name to Julián Slim Haddad. It was not uncommon for Lebanese children to be sent abroad before they reached the age of 15 to avoid being conscripted into the Ottoman Army , and four of Haddad's older brothers were already living in Mexico at

4680-488: Was born on 28 January 1940, in Mexico City , to Julián Slim Haddad (born Khalil Salim Haddad Aglamaz) and Linda Helú Atta, both Maronite Christians from Lebanon . He decided at a young age that he aspired to be a businessman as a future career in mind, and received business lessons from his father, who taught him basic financial, business management, and accounting principles by instructing him in how to analyze and interpret financial statements in addition to stressing

4752-534: Was completed in 1984, but the surrounding plaza was never completed. The Pemex Executive Tower remained the tallest building in Mexico for almost 20 years, until August 2003, when the 55-story Torre Mayor was completed only 800 m (2,600 ft) away. As of January 2018, the Torre Pemex is the sixth tallest building in Mexico, and the fourth tallest in Mexico City. The tower is currently occupied by approximately 7,000 Pemex employees. On 19 September 1985,

4824-486: Was designed and executed by Dr. Leonardo Zeevaert and his brother Adolfo Zeevaert, Mexican civil engineers born in Veracruz . Nathan M. Newmark was the main consultant. Its design consists of a steel-frame construction and deep-seated piles , which were necessary given Mexico City's frequent earthquakes and muddy soil composition, which makes the terrain tricky to build on. Before construction, both engineers carried out

4896-676: Was due to a running joke in Mexican business circles that "there was nothing left to acquire in Mexico." He set up a Telmex USA branch and also acquired a stake in Tracfone , an American cellular telephone operator. Concurrently, Slim established Carso Infraestructura y Construcción, S. A. (CICSA) as a non-profit subsidiary construction and engineering firm within Grupo Carso. During the same year, Slim underwent heart surgery and subsequently passed on much of his day-to-day corporate involvement to his children and their spouses. América Telecom,

4968-511: Was finished in 1956, the insurance company moved into the tower's 4th to 8th floors. The rest of the building's office space was for lease. At the time of its completion the Torre Latinoamericana was the 45th tallest building in the world. It was also the tallest building in Latin America, and the fourth in height in the world outside New York. Its public observation deck on the 44th floor is the highest in Mexico City. The project

5040-494: Was ranked as the richest person in the world by Forbes business magazine. He derived his fortune from his extensive holdings in a considerable number of Mexican companies through his conglomerate , Grupo Carso . As of December 2023 , the Bloomberg Billionaires Index ranked him as the 11th-richest person in the world, with a net worth of $ 105 billion or about 7% of Mexico's GDP, making him

5112-501: Was released by the new company listed its assets at 3.5   billion pesos (approximately US$ 230   million ), placed within 17.7   million shares. Upon the formation of the company, Slim remained sanguine about the company's future potential and Mexico's burgeoning energy sector where the state monopoly ceased to exist. On July 25, 2015, Slim's investment group Control Empresarial de Capitales invested in IMatchative,

5184-411: Was the first time that a builder and designer of a tall building witnessed firsthand its behavior during a powerful earthquake. The tower is now co-owned by its original builder La Latinoamericana, Seguros, Inmobiliaria Torre Latinoamericana, a real estate firm. In 2002 seven of the 44 floors were purchased by Telcel and Banco Inbursa, both firms controlled by Mexican businessman Carlos Slim . In 2006,

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