Ay Caramba!

With the release of Forbes’ richest list today, Mexico can lay claim to the world’s fourth richest person - telecom magnate Carlos Slim Helu. Behind only Gates, Buffet & Mittal (an Indian steel consolidator), Slim, 65, is estimated to be worth $23.8 billion (& growing) after climbing thirteen spots and gaining $10 billion since last year.

To put this into perspective, Slim beat Saudi Prince Alwaleed Bin Talal Alsaud, European leader IKEA founder Ingvar Kamprad (who the Europeans tried to claim several months ago as the world’s richest person based on the continuing devaluation of our dollar) and all five of those bearing the Walton name. Canada cashed in eleven spots behind at fifteenth with one Kenneth Thomson worth $17.9 billion.

Despite diverse holdings in retail (Sears de Mexico, bought out J.C. Penny’s Mexican operations), banking, insurance, dining, auto parts manufacturing and even cigarettes, his main business is in telecommunications where shares of his wireless company América Movil have soared more than 75% over the year. Additionally, his landline unit TelMex which already controls 95% of fixed lines is preparing to double its number of subscribers through broadband services.

His philanthropic efforts are best known for the joint private-government restorations being undertaken in the historical downtown section of Mexico City, which he heads as the founder of the Foundation of the Historic Center of Mexico City. After that, he’ll probably line everything with his stores and ATM’s. I wonder how much he has to shell out for his security detail.