Stocks Made Carlos Slim the Richest Man in the World
March 11, 2010 by Forex Superb
Filed under Blog Report
The new world’s richest billionaire is not Bill Gates, Warren Buffett, It is Carlos Slim Helu, with a net worth of $53.5 billion according to Forbes. Slim has major holdings in various telecom companies, including America Movil (AMX), of which he owns a $23 billion interest.
Slim’s net worth spiked by $18.5 billion, putting Gates in second place and Buffett in third place. Investors are looking at the stocks that he owns and is connected with. Here are the primary companies that Slim is associated with.
Approximately one half of the shares of Teléfonos de Mexico (TMX), which is also known as Telmex, is owned by Slim and his family. This huge Mexico based telecommunications company, at which Slim has served a Chairman, has a forward price to earnings ratio of 10 and pays a yield of 4.4%. Earnings for the latest quarter were up 67.7% year over year.
Slim has also served as Chairman of América Móvil (AMX), which is the fourth largest mobile network operator in the world and the largest corporation in Latin America. It also operates the largest mobile operator in Mexico. The stock has a forward PE of 11 and a yield of 1%.
About 6.4 percent of the shares in The New York Times Company (NYT), the largest local metropolitan newspaper in the United States, is owned by Slim. The stock has a PE of 16.
He is also on the Board of Directors for Philip Morris International (PM), which owns over 15% of the worldwide non-US market for cigarettes. The company has a forward PE of 12 and a yield of 4.6%.
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