Salinas is the chairman of Grupo Elektra, a banking and retail conglomerate that operates more than 2,000 outlets in Latin America. He is also the majority shareholder of Spanish-language television broadcaster TV Azteca. Through Grupo Salinas Telecom, a closely held investment vehicle, he controls 98.9 percent of mobile-phone carrier Grupo Iusacell.
After a group of protesters denounced Carlos Slim and marched out of the room playing Darth Vader’s theme song on kazoos, a companion of the Mexican billionaire smiled at him and said, “Welcome to New York.”
Ricardo Salinas, the Mexican billionaire whose banking and retail empire spans eight countries, is looking to bring his microlending business to the U.S. to capitalize on the opportunity with low-income customers.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Mexican lawmakers announced legislation yesterday that threatens to rein in the country’s telecommunications monopolies, raising the possibility of a Ma Bell-style breakup for Carlos Slim’s dominant America Movil SAB.
Cemex SAB and Petroleos Mexicanos are leading a rebound in Mexican corporate debt offerings overseas from the biggest drought in seven months as demand for the country’s higher-yielding assets picks up.
Billionaire Nicolas Berggruen wants to talk about economic and political governance at the World Economic Forum’s annual meeting in Davos, Switzerland, this week. If only the more than 2,500 business and political leaders attending would put down their BlackBerrys.