Second Richest Man in the World, Carlos Slim

Carlos Slim Overtakes Warren Buffett as Second Richest Man in the World

"Our concept is more to accomplish and solve things, rather than giving-that is not going around like Santa Claus," said Carlos Slim when referring to the differences between himself and Warren Buffett after being asked what it meant to him to now be the second richest man in the world. He went on to say that "poverty isn't solved with donations."

You may recall last year Warren Buffett had publicly pledged to give to the Bill & Melinda Gates Foundation $1.5 billion dollars a year. Mexican telecom magnate Carlos Slim Helu' makes it clear he is more for the hands-on approach as to how a businessman ought to conduct himself in the world. The telecom tycoon, according to Forbes has made most of his fortune in Mexico, where per capita income is $7310, according to World bank statistics for the country.

In it's country brief, World Bank goes on to describe Mexico as an advanced middle income country with strong ownership of its development strategy. Official responsiveness to poverty concerns have contributed to rising income levels, but poverty rates remain high. As well as income inequality. According to world bank estimates over 45% of Mexico's National population lives in moderate poverty. For extreme poverty the total was 18%.

Carlos Slim's primary holdings America Movil, a wireless operator, and Carso Global Telecom, which controls Telmex, which in turn is 90% of Mexico's land-line market, were both up substantially in shares value. His rise in fortune amassed has come quickly in the last year and a half, amassing $23 billion in that time alone. Many are criticizing him pointing out that he is making his fortune as a monopoly holder on the Mexican land-line telephone market, and doing so whilst income inequality is a serious national problem.