Carlos Slim Helú
Carlos Slim Helú
Carlos Slim Helú Biography
These are the family origins of the Mexican businessman and philanthropist, founder of Grupo Carso: his family, early years, values, and business achievements throughout the years.
Chronology
Family and Origins
In 1902, Julián Slim Haddad, father of Carlos Slim Helú, arrived alone in Mexico from Lebanon. He was 14 years old and did not speak Spanish. He was fleeing the yoke of the Ottoman Empire, which at the time conscripted young men into its army; mothers often sent their sons into exile before they turned fifteen.
He was a young man, energetic and full of enthusiasm and ideas. After disembarking in Veracruz, he moved to Tampico, Tamaulipas, where four of his older brothers—José, Elías, Carlos, and Pedro Slim—had already settled since 1898, with the conviction that they would succeed together with the country that had welcomed them.
Carlos Slim’s mother, Doña Linda Helú, was born in Parral, Chihuahua. She was the daughter of José Helú and Wadiha Atta, Lebanese immigrants who arrived in Mexico at the end of the 19th century, and after traveling through several cities in the Mexican Republic, decided to settle in the capital city. José Helú brought the first Arabic printing press to Mexico and founded one of the first magazines for the Lebanese community in this country.
The Slim brothers later moved to Mexico City, and in 1911, Julián Slim and his brother José, who was thirteen years his senior, founded the company La Estrella de Oriente (The Star of the East), named in honor of their country of origin. The partnership was formed with 25,800 pesos, with each brother contributing 50 percent. In May 1914, in the midst of the Mexican Revolution, Don Julián, then 26 years old, purchased his brother’s fifty percent stake for 30,000 pesos.
La Estrella de Oriente was an important dry goods store located on Calle de Capuchinas (today Venustiano Carranza); that, over time and with Don Julián’s extraordinary work ethic and business talent, had merchandise worth more than US$100,000 by January 21, 1921, only ten years after the business was founded. By that time, Don Julián had also acquired eleven more properties in the area, which was one of the most commercial, active and significant in downtown Mexico City, and therefore in the country. The current value of the store would be more than US$7 million today, and the real estate would be worth around US$28 million.
By 1922, Don Julián’s net worth was already 1,012,258 pesos, including real estate, businesses, and various stocks.
In August 1926, Julián Slim and Linda Helú were married in Mexico City. Their first daughter, Nour, was born four years later, followed by Alma two years after that, and then Julián, José, Carlos, and Linda.
With his intelligence and strong work ethic, Don Julián Slim Haddad became a prominent businessman and the patriarch of a model family. He was able to instill in his children both moral values and a dedication to work.
The reasons for Don Julián Slim Haddad’s commercial success were simple: a true calling, exceptional talent, and hard work. His thinking was ahead of its time; by the 1920s, he was already describing an efficient business as one that sold large volumes at smaller margins, offering payment facilities—principles that today are standard in large discount stores.
In 1927, when Mexican migration policy ceased to be favorable for many foreigners and Lebanese, immigration was restricted, Don Julián Slim, who served as president of the Lebanese Chamber of Commerce for almost 20 years (from 1930 until it was disbanded at the end of the 1940s), successfully filed a lengthy and well-researched legal brief with the Department of State that described the activities and characteristics of his fellow countrymen and defended their rights. Thanks to this, there was a favorable resolution for these immigrants. A part of this document reads as follows:
“Lebanese are characterized by their work, their economy, their simplicity, how easily and quickly they learn the language of the countries they go to and in which they live peacefully, especially in places like México that maintain a sacred commitment to personal independence and love of the homeland”.
During his leadership of the Chamber, he conducted a census of all Lebanese businessmen in Mexico and actively participated with them in the Nationalist Campaign of the 1930s, whose objective was to promote Mexican industry by buying and consuming made-in-Mexico products, with the aim of benefiting trade, employment and national development. The motto of the campaign was “consume what the country produces.”
Although this campaign had the support of the President of the Republic (Pascual Ortiz Rubio) it did not cost the country’s federal treasury a penny because the various chambers of commerce contributed the resources to disseminate and promote it.
The campaign always advocated the excellence of Mexican products and for an increase in the country’s exports. Don Julián’s participation was especially active, important and dynamic in this important movement and it proved his extraordinary capacity to assimilate to the culture of a country that he assumed and defended as his own. During that period he requested and finally obtained Mexican nationality.
Carlos Slim Helú was born on January 28, 1940, in Mexico City. From an early age, he learned that family is the greatest value of all.
He also received his first business lessons in early childhood, as Don Julián gave each of his children a savings book along with their weekly allowance so they could learn to manage their income and expenses. They reviewed the book together, and Don Julián’s children managed their finances and began building their own wealth.
From that time on, investment and savings were part of young Carlos’s life, becoming his first business lesson, which he soon put into practice by opening his first checking account and buying shares of Banco Nacional de México at the age of 12.
Carlos Slim Helú grew up in a close, loving family with his parents and five siblings, guided by example. However, in 1953, Don Julián passed away suddenly, deeply affecting the Slim Helú family. It was a sad and unexpected emotional blow that left a lasting mark on their home. Carlos was only 13 years old.
Biographical Overview of Carlos Slim Helú
Carlos Slim Helú studied Civil Engineering at Universidad Nacional de México (UNAM) School of Engineering, where he also taught Algebra and Linear Programming while he was studying for his degree: he was student and professor at the same time.
In 1965, when he was only 25 years old, he began to build the foundations of Grupo Carso. Inmobiliaria Carso was incorporated in January 1966, three months before marrying Soumaya Domit Gemayel, hence the name Carso, which is a combination of the first three letters of Carlos and the first two letters of Soumaya.
Since the 1980s, he has been a prominent businessman in various fields, including industry, real estate, and commerce. In 1982, a critical period in Mexico’s history marked by the debt crisis, the nationalization of the banking system, and near-paralysis of the country’s finances, Carlos Slim and his Grupo Carso decided to invest heavily and actively.
During this period, they made diverse investments and acquisitions for the group. One of the most important was Cigatam, which provided substantial cash flow and liquidity, enabling the group to capitalize on available opportunities and expand its acquisitions of major companies, including Hulera El Centenario, Bimex, Hoteles Calinda (today OSTAR Grupo Hotelero), and Reynolds Aluminio. Some time later, the purchase of Seguros de México was completed, and Grupo Financiero Inbursa was formed by integrating Casa de Bolsa Inversora Bursátil, Seguros de México, and Fianzas La Guardiana.
By 1985, Grupo Carso had acquired Artes Gráficas Unidas and Fábricas de Papel Loreto y Peña Pobre, as well as a majority stake in Sanborns and its affiliate Dennys.
In 1986, Minera FRISCO and Empresas Nacobre were acquired, along with their affiliates. The Euzkadi Tire Company, the market leader at the time, was also acquired, followed by a majority stake in General Tire a few years later.
In 1990, in partnership with Southwestern Bell and France Telecom, TELMEX was acquired, marking the beginning of a new era characterized by significant investment in telecommunications infrastructure. This modernization led the company to undergo a global strategic transformation.
In 1996, through América Móvil, it pioneered the global introduction of the prepaid mobile phone system, opening the mobile telephony market to more people and enabling the company to achieve leadership. Today, it is established as one of the most important integrated telecommunications service companies worldwide. It operates in 23 countries across the Americas and Europe, offering telephone, internet, and paid-TV services through a world-class network.
Carlos Slim stepped down from most of the boards of his companies and currently serves as: Chairman of the Board of Directors of Impulsora del Desarrollo y el Empleo en América Latina, S.A. de C.V. (IDEAL); Chairman of Fundación Telmex, A.C.; Chairman of Fundación Carlos Slim Helú, A.C.; Chairman of the Executive Committee of the Consejo Consultivo de Restauración del Centro Histórico; and Chairman of Fundación del Centro Histórico, A.C.
Carlos Slim Helú continues to be active in business, although his main efforts are focused on education, health, and employment in Mexico and Latin America through the foundations he chairs and companies in the infrastructure sector. His three sons—Carlos, Marco Antonio, and Patrick Slim Domit—have taken over the management of his businesses.
Slim has lectured at public and private institutions, as well as at international organizations such as the Economic Commission for Latin America (ECLA).
He was a member of the Board of Directors of Altria (formerly Philip Morris Companies) and also served on the Board of SBC Communications, Inc., from which he retired in 2004 to devote more time to the IDEAL project (Impulsora para el Desarrollo y el Empleo en América Latina), with a particular emphasis on infrastructure, health, and education.
He has also served as Vice Chairman of the Mexican Stock Exchange and Chairman of the Mexican Association of Brokerage Firms. He was the first Chairman of the Latin American Committee of the Board of Directors of the New York Stock Exchange.
Carlos Slim has a passion for history, art, and nature; he is also a great fan of baseball and has written several articles about the sport.
On December 16, 2008, he was appointed a member of the Executive Board of the Research and Development Corporation, a nonprofit research organization in the United States that provides analysis and solutions on commerce, politics, and other areas worldwide.
At the time, Slim was elected as a member of the executive board, the President and Executive Director of RAND Corporation, James A. Thomson expressed: “It is an honor to include in the executive board of RAND organization this distinguished business and philanthropist leader” and added: “Undoubtedly, Carlos Slim Helu will help the corporation to improve its 60 years of success by providing objective analysis and effective solutions related to the new challenges that the private and public sectors are facing around the world”.
ITU and UNESCO announced on May 10, in Genéve, Switzerland, the creation of top-level global Broadband Commission for Digital Development and it is co-chaired by Mr. Carlos Slim.
With high-impact social programs, focusing on the most vulnerable population, in 2011, Carlos Slim Foundation has directly benefited more than 29.7 million people.
Awards and recognitions
Carlos Slim Helú has received significant recognitions and has been honored with the following prizes:
Carlos Slim Helú received the Italy-Mexico 2024 Prize, from the Italian Chamber of Commerce. Mexico City, October 18th. 2024:
Engineer Carlos Slim Helú, President-for-Life of Carso Group, received the degree of Doctor Honoris Causa granted by the Engineering School of the Anahuac University of Mexico. Mexico City, October 16, 2024.
Mr. Carlos Slim receives the Peace Summit Award for the altruistic and peace-building initiatives he has performed through social supports and programs addressing diverse social sectors. Monterrey, Nuevo Leon, September 22, 2024.
The Lebanese Center in Mexico honored Mr. Carlos Slim for his contribution to the development of Mexico, for his support to the Mexican community of Lebanese origin, and for his altruism. Mexico City, August 22nd, 2024.
Eng. Carlos Slim Helú received the “Juan Sánchez Navarro Award”, granted by the Mexican Business Coordinating Council, for His Work in Favor of the Development of Mexico. Mexico City, August 9, 2024.
His Majesty King Felipe IV of Spain, presented the “Enrique V. Iglesias Award” to Carlos Slim, for his contribution to the development of Ibero-America. Madrid, Spain, October 25, 2023.
Her Majesty Queen Sofía presided over the Sophia Awards for Excellence award ceremony, presented by the Queen Sofia Spanish Institute of New York to Spanish historian Carmen Iglesias, Mexican businessman and philanthropist Carlos Slim and Spanish chef José Andrés, who was unable to attend the gala in person as he was in Ukraine. April 1, 2022, Nueva York, NY
Mr. Carlos Slim was recognized at the 4th Edition of the Ibero-American Patron of the Arts Awards, organized by the Callia Foundation, for his social commitment to the arts. 26 February 2018. Madrid, Spain
Carlos Slim Helú receives Humanitarian Award from Andrea Bocelli Foundation. September 8, 2017. Rome, Italy.
The Appeal of Conscience Foundation granted Mr. Carlos Slim the Appeal of Conscience Award. 19 September 2016. New York, USA.
Dr. Mercedes Juan, Mexico’s Secretary of Health, presented an award to the Carlos Slim Foundation recognizing its commitment and achievements in organ and tissue donation and transplants. Mexico City, October 2, 2015
For third consecutive year, the Corporate Business Reputation Monitor (Merco), recognizes Mr. Carlos Slim as Mexico’s business leader with the best reputation in 2015. August 4, 2015. Mexico City.
Carlos Slim Foundation receives the International Recognition Award 2015 for its contributions to improve global health March 10, 2015. Houston, Texas, U.S.A.
Mr. Carlos Slim receives the UNESCO Medal recognizing his contribution to make sure that Information and Communication Technologies benefit the population. February 27, 2015. Paris, France.
Forbes Magazine ranks Carlos Slim Foundation as Mexico’s most charitable business foundation. January 22, 2015
Mr. Carlos Slim was bestowed the Friars Club’s Icon Award by the Friars Club of New York, the acknowledgment was given in the Friars Foundation Gala and it was conferred to Mr. Slim due to his philantropic and humanitarian endeavors. October 7, 2014. New York City.
Mr. Carlos Slim received the Starlite Humanitarian Award 2014, in recognition of his philanthropic work, during the 5th edition of the Starlite Gala organized to support foundations and social organizations. August 9, 2014. Marbella, Spain.
Mr. Carlos Slim Helú is recognized as Mexico’s businessman with the best reputation. The distinction is awarded by the Corporate Reputation Business Monitor (Merco) 2014. Mexico City, May 29, 2014
The International Telecommunications Union granted Mr. Carlos Slim the World Telecommunication and Information Society Award 2014, in recognition to his leadership and dedication in fostering ICT and broadband connectivity for sustainable development. May 16, 2014. Geneva, Switzerland
“Digital education and jobs creation are essential factors that demand our efforts as both society and country”, Mr. Carlos Slim said in a ceremony of his 50th anniversary as an engineering graduate by the Universidad Nacional Autónoma de México (UNAM), organized by engineers and architects associations. May 28, 2013. Palacio de Minería, Ciudad de México.
Mr. Carlos Slim Helú receives Medal of Honour from ISSF President Olegario Vazquez Raña. Acapulco, México. March 20, 2013.
The Business Council for International Understanding To Honor Carlos Slim Helú With 2012 Dwight D. Eisenhower Global Leadership Award. December 12, 2012. New York City.
Mr. Carlos Slim received the Gibran National Committee Award for his contribution to spreading the knowledge of the poet, philosopher and painter Gibran Khalil Gibran. Beirut, Lebanon, September 27, 2012.
Carlos Slim was awarded for his Leadership in Philanthropy by President Bill Clinton, at the Sixth Annual Clinton Global Citizen Awards. September 24, 2012. Nueva York, NY.
Mr. Carlos Slim was named Honorific Grade Doctor by George Washington University because of his philanthropic work and his contribution to business and community development in Mexico and Latin America. May 20, 2012. Washington, DC, USA.
José Pagés Llergo Foundation did award Mr. Carlos Slim the “Paz y Democracia” Prize in Investment and Development category. April 18, 2012.
Mr. Carlos Slim Helú was awarded Red Cross Badge of Honor and Merit due to his long-standing humanitarian trajectory. The medal was imposed to him by Mr. Daniel Goñi Díaz, president of Mexico’s Red Cross, and Taderatu Konoe, president of Red Cross International Federation and Red Crescent Societies. February 21, 2012. Mexico City.
The Franco-Mexican Chamber of Commerce and Industry awarded Mr. Carlos Slim the Franco-Mexican Friendship Prize 2011, in recognition to his strong relationships to France through his entrepreneurial, industrial, social, commercial and cultural activities. November 10, 2011.
Mr. Carlos Slim was awarded the prize Quién 50, aimed to honoring the most influential persons in Mexico’s public opinion. That prize is annually bestowed by Quién magazine to persons whose influence and talent have produced helpful changes, growth, and improved surroundings in their own fields and Mexico as well. November 8, 2011, Mexico City
Claustro de Sor Juana University awarded Mr. Carlos Slim the “Sor Juana Inés de la Cruz” Medal due to his effort to revive Mexico City’s Historic Center. September 29, 2011, Mexico City.
The World Boxing Council did award Mr. Carlos Slim the WBC Humanitarian Prize of the Year by his support to the boxing world. November 2, 2010. Cancún, Quintana Roo, Mexico.
The President of Lebanon, Mr. Michel Sleiman, did honor Mr. Carlos Slim by awarding him the Lebanese Gold Order to Merit, while the Jezzine Municipal Government did name him Honorific Citizen. Beirut, Lebanon, March 12, 2010.
The George Washington University President’s Medal, the most distinguished academic award, in recognition of his philanthropic and entrepreneurial management. June 30, 2009, Washington, D.C., U.S.A
Mr. Carlos Slim Helu received the ESADE award in recognition of his philanthropic and entrepreneurial management, during the XIV Annual Celebration ESADE Alumni, Barcelona. June 8, 2009. Barcelona, Spain.
Eng. Carlos Slim Helu conferred Man of the Year 2008 by the World Boxing Council (WBC). March 3, 2009. Mexico City.
The National Order of the Cedar in Grade of Grand Officer was awarded by the Embassy of Lebanon in Mexico, on November, 2008.
Recognition to Carlos Slim Helú to be the Mexican industralist who more resources has destined in life to philanthropic causes, granted by the Mexican Association of Professionals in Power of attorney of Bottoms Chapter Mexico City, in November of 2007.
Industralist of Year 2007, granted by the Mexican Foundation for the Health (Funsalud).
National Award to the Excellence Jaime Torres Bodet 2007, granted by the University Center Sun Group.
Life Achievement Award, by the World-wide Association of Mexican abroad (AMME), in June of 2006.
Salon del Empresario Award, Mexico 2005
Fashion Group International Prize by his work in the rescue of the Historical Center of Mexico City in 2004.
Real estate Developers Association Award 2004.
Industralist of the Decade (Latin Trade 2004).
Hadrian Award – N.York (2004), granted by World Monuments Fund.
Alliance Award 2004 – granted by Free Trade Alliance.
Industralist of the year (Latin Trade 2003).
World Education and Development Fund (2004) – N. York.
Decoration of the Commander Leopold II, by the Belgium Government. 2002
Golden Plate Award, granted by the American Academy of Achievement. 1994.
Medal of Honor to Merit Business of the National Chamber of Commerce in Mexico City, 1985.
Carlos Slim during the ceremony in which he received the National Cedar Order decoration in the Grade of Grand Officer, awarded by the Embassy of Lebanon in Mexico.
Carlos Slim Helú has received multiple national and international awards and recognitions.
Carlos Slim during his visit to Lebanon, March 2010.
Carlos Slim, with his sons Carlos and Patricio, enjoyed Lebanese hospitality, March 2010.
