PRIVATIZATION & CARLOS SLIM IN MEXICO. PRESENTED BY: OLLIESHA TRAVIS. WHAT IS PRIVATIZATION. Privatization is the incidence of process of transferring ownership of business from the public sector to the private sector. TYPES OF PRIVATIZATION.
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August 8, 2007 featured
in Fortune magazine.
Surpassed Bill Gates who’s
Net worth was $58 billion
Carlos Slim is now the richest man in the world, thanks to his investments in telecommunications, financial services, and varies industries. Here is a breakdown of his major holdings.
% of shares held Investment value
America Movil (wireless) 30% $31 billion
Carso Global Telecom 82% $12.9 billion
Grupo Carso 75% $ 7.1 billion
Inbursa (financial serv) 67% $5.6 billion
Ideal (infrastructure) 30% $1.7 billion
Saks Inc. (U.S retail) 10% $263 million
Total: $58.5 billion
Slim’s fortune was built in a country in which 62% of the companies admit they set aside some of their income to pay bribes to government employees in order to obtain some benefit, and 30%of all public resources allocated to Government contracts are set aside for corruption. Furthermore, his fortune increased with the purchase of a state-owned company. During the 90’s, there were many privatization of State monopolies in Latin America, especially those with regard to electricity, petroleum, telecommunications and transport.
Mexico - 5,414 2007 est