The world’s richest man maintains holdings in telecommunications (America
Movil), banking (Grupo Financiero Inbursa) and mining (Minera Frisco), as well as Philip Morris, New York Times, Saks and Caixabank. Through his family’s holding company, Grupo Carso, Slim also commands a large presence in the Mexican construction industry.
Mexican and Canadian stocks are returning the least in 14 years versus the Standard & Poor’s 500 Index, a break from a history of matching or beating the benchmark gauge since the countries formed a free-trade agreement in 1994.
Desarrolladora Homex SAB, Mexico’s biggest homebuilder by sales, said credit-rating downgrades and lawsuits from Barclays Plc and Credit Suisse Group AG over derivatives contracts have put the company in default on peso- denominated bonds.
Coca-Cola Femsa SAB, Comision Federal de Electricidad, Grupo Financiero Inbursa SAB, Grupo Famsa SAB and Kimberly-Clark de Mexico SAB are among issuers that plan to sell bonds in Mexico’s debt markets.
The richest man in Mexico is no longer the richest man in the world. Carlos Slim lost $2.3 billion, or 3.1 percent of his net worth, in the past week. That leaves Slim with an estimated net worth of $72.1 billion, putting him second on the Bloomberg Billionaires Index to Microsoft founder Bill Gates, whose fortune is estimated at $72.7 billion.As Bloomberg's Peter Newcomb and Crayton Harrison explained on Bloomberg TV, one reason for Slim's falling rank is political pressure on him in Mexico. Then there's also Bill Gates' rise, fueled by a 29 percent surge in Microsoft shares so far this year.