Mexico's Top Tycoon Once Became World's Richest Man
Economic Inequality Remains Severe in Mexico
The assets of the top two wealthiest individuals in Mexico, a country known for its severe wealth gap, have reportedly increased by an average of about 70% over the past three years. On the 23rd (local time), Oxfam Mexico, an international relief and development organization, announced that Carlos Slim (83), the lifetime chairman of Grupo Carso, a Mexican telecommunications conglomerate, and considered Mexico's richest person, had a net worth totaling $100 billion (approximately 133 trillion KRW) as of last year. This represents an increase of about 58% compared to 2020.
Carlos Slim, the richest person in all of Latin America, owns several companies including telecommunications firms Telmex, Telcel, and Am?rica M?vil, as well as businesses in insurance, construction, and small parts manufacturing. He topped Forbes' global billionaire rankings for four consecutive years from 2010 to 2013, surpassing Bill Gates, the founder of Microsoft (MS). In Bloomberg's billionaire index released at the end of last year, he ranked 12th.
Slim, who operates several charitable foundations, built the Soumaya Museum in Mexico City named after his late wife who passed away in 1999. The museum is open to citizens and tourists free of charge, showcasing authentic works by artists such as Auguste Rodin, Vincent van Gogh, Edgar Degas, and Claude Monet. He is also known as the "Economic President of Mexico," a nickname reflecting his presidential-level influence in the country.
In 2012, Forbes reported that he had donated over $4 billion to his foundation. Following Slim, the second richest person in Mexico is Germ?n Larrea, CEO of Grupo M?xico, whose net worth is estimated at around $32 billion (42.8 trillion KRW). This represents an increase of about 125% over three years.
Oxfam Mexico Points Out "Severe Economic Imbalance Amid 36% Poverty Rate"
A protester in Monterrey, Mexico, is holding a placard that reads "Mexico needs peace and justice." [Photo by Reuters·Yonhap News]
However, the increase in wealth of these two individuals does not mean that poverty in Mexico as a whole has been resolved. In a related report, Oxfam Mexico stated, "These two individuals have benefited from various business access privileges granted by the Andr?s Manuel L?pez Obrador government," and argued that "their wealth has created a cycle that converts back into political power." Meanwhile, the local daily Milenio reported statistics indicating that among Mexico's population of 130 million, about 290,000 people each hold assets exceeding $1 million. This means approximately 0.2% of the population accumulates 60% of the wealth, according to the media outlet's analysis.
Furthermore, Oxfam Mexico pointed out that although the L?pez Obrador government has been raising the minimum wage by around 20% annually, inequality has not improved. The organization stated, "The poverty rate has decreased from 41.9% to 36.9%," but added, "Economic inequality remains severe. The rules of the game in Mexico's economic sector can be seen as unfair."
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