The `New York Times'' Mexican Billionaire Connection Revisited: Part 7

New York Times Owner Slim’s 1960’s Money-Making

According to Chrystia Freeland’s Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else book, New York Times Owner Slim “started to make serious money straight out of college, when he was one of the Los Casabolseros or Stock Market Boys, a group of aggressive young men who traded shares on the Mexican stock market.” Then, “by the end of 1965” Slim “had established a brokerage house, acquired a bottling company, and incorporated a real-estate business, Inmobiliaria Carso” and in 1966, “upon receiving a million pesos from his mother…built a twelve-story condominium in Mexico City,” “occupied the ninth floor and rented out the other apartments,” according to Lawrence Wright’s June 1, 2009 article in The New Yorker. So by the age of 26, according to the 2009 American Journalism Review article, “Slim had already accumulated $400,000 in wealth from his business ventures and from his mother.”

(end of part 7)