Monday, April 20, 2015

The `New York Times'' Mexican Billionaire Connection Revisited: Part 15

New York Times Owner Slim’s Foreign Investments

Whatever happens within Mexico with regard to anti-monopoly legislation or human rights violations, New York Times Owner Slim and his family’s ability to accumulate billions of dollars each decade may still not be affected that much as long as the capitalist economic system exists around the globe, because an increasing percentage of his 21st-century profits have been coming from his investments in countries other than Mexico in recent years. As an article in the July 20, 2014 issue of Bloomberg Business Week observed:

Slim said this week that his America Movil…is bowing to antitrust legislation by selling assets in Mexico to reduce its dominant market share…While America Movil will be reducing dependence on its home market, the world’s second-richest man has been diversified beyond Mexico and telecommunications for years with holdings in banking, mining and construction…America Movil has also expanded, with operations in 17 other countries, from the U.S. to Chile. It also holds stakes in two European phone carriers, Royal KPN NV and Telekom Austria AG…With about 60 percent of America Movil’s sales coming from outside of Mexico today…Slim’s fortune is less dependent on his home country than it used to be…”

In addition, “through America Movil,” New York Times Owner Slim also “committed $60 million” to an Israeli startup, “Mobli as a model of the type of potential investments in Israeli firms,” according to Forbes magazine (12/21/13).

(end of part 15)

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