MEXICO’S RICHEST MAN LOST BILLIONS DUE TO TRUMP’S ASCENT TO PRESIDENCY
Carlos Slim Helu is the richest Mexican tycoon. He is today’s focus because of the huge amount of wealth that he lost after Trump became president.
Forbes calls him the biggest billionaire loser. A victim of Donald Trump antics. On November 7, his net worth was estimated to be $51.7 billion. The day before elections. After the elections his fortunes changed to $45.2 billion. This is a huge fall.
He effectively lost $6.5 billion from his fortune. This was accompanied by a drop from being the world’s 6th richest to 7th richest person. Trump brags that he is very rich at $3 billion. He isn’t rich when compared to Carlos. The Mexican tycoon can buy everything Trump owns and still remain a world billionaire with good standing.
Why the fall?
Carlos Slim’s fall was triggered by the fall of Pesos (Mexico’s currency). Reuters and Mexican press reported that the peso depreciated by 13% against the United States dollar just 24 hours after Trump was elected president.
Carlos Slim is an extraordinary investor. He has extensive investments in the United States. He owns real estate and trades on the New Stock Exchange using America Mivil.
Donald Trump accused Carlos Slim of helping Hillary Clinton during the campaigns by sponsoring unfavorable press coverage of Trump’s treatment of women on The New York Times. Slim is a major shareholder of NYT. Follow us on Twitter: @gkerosi