Ercan ALTUN 284704 Computer Engineering

1. ASSIGNMENT 1
ENGG437
ENTREPRENEURSHIP AND
LEADERSHIP
Submitted by Ercan ALTUN
Submitted to Karen Howells

2. Carlos Slim was born 1940 is a Mexican business
magnate and philanthropist. He is currently ranked as
the richest person in the world in 2012. Slim has been
ranked the richest person in the world since 2010.
His extensive holdings in a considerable number of
Mexican companies through
his conglomerate, Grupo Carso, SA de CV, have
amassed interests in the fields of communications,
technology, retailing, and finance. Presently he is the
chairman and chief executive of telecommunications
companies Telmex and America Movil.
America Movil, which in 2010 was Latin America’s
largest mobile-phone carrier, accounted for around
$49 billion of Slim's wealth by the end of 2010. His
corporate holdings as of March 2012 have been
estimated at $69 billion.

3. Carlos Slim was born 1940 is a Mexican business magnate and philanthropist. He is
currently ranked as the richest person in the world in 2012. Slim has been ranked the
richest person in the world since 2010. His extensive holdings in a considerable number of
Mexican companies through his conglomerate, Grupo Carso, SA de CV, have amassed
interests in the fields of communications, technology, retailing, and finance. Presently he
is the chairman and chief executive of telecommunications companies Telmex and
America Movil.
America Movil, which in 2010 was Latin America’s largest mobile-phone carrier,
accounted for around $49 billion of Slim's wealth by the end of 2010. His corporate
holdings as of March 2012 have been estimated at $69 billion.

4. Slim was born in Mexico city, Mexico in 1940 to Maronite Christian parents Julián Slim
Haddad and Linda Helú, both of Lebanese descent. His father, born Khalil Slim Haddad,
immigrated to Mexico at the age of 14 in 1902 and changed his first name to Julián. As it
was not uncommon for Lebanese children to be sent abroad before they reached the age of
15 to avoid being conscripted into the Ottoman army, four of Haddad's older brothers were
already living in Mexico at the time of his arrival.
Carlos Slim's mother, Linda Helú Atta, was born in Parral, Chihuahua, of Lebanese
parents who had immigrated to Mexico in the late 19th century. Her parents upon
immigrating to Mexico had founded one of the first Arabic language magazines for
the Lebanese-Mexican community, using a printing press they had brought with them.
In 1911, Julián established a dry goods store, La Estrella del Oriente (The Star of the
Orient). By 1921, he had purchased real estate in the flourishing commercial district of
Mexico City. These enterprises became the source of considerable wealth.
In August 1926, Julián Slim and Linda Helú married. They had six children: Nour, Alma,
Julián, José, Carlos and Linda. Julián senior, who had been influential in the Lebanese-
Mexican business community, died in 1953.

5. Slim and his siblings were taught basic business practices by their father, and at the age of
12, Slim bought shares in a Mexican bank. At the age of 17, he earned 200 pesos a week
working for his father's company. He went on to study civil engineering at the National
AutonomousUniversity of Mexico, while simultaneously teaching algebra and linear
programming there. Slim began his career as a trader in Mexico. He would go on to form his
own brokerage firm -- a firm that later expanded to invest in individual businesses, ranging
from construction and manufacturing to retail and restaurants. In 1965 he incorporated
Inversora Bursátil and then bought Jarritos del Sur. In 1966, already worth
US$40 million, he founded Inmobiliaria Carso. Three months later he married Soumaya
Domit Gemayel (the Carso name derives from the first three letters of Carlos and the first
two of Soumaya) and they remained married until her death in 1999.
Construction, real estate and mining businesses were the focus of his early career. By 1972
he had established or acquired a further seven businesses in these categories, including one
which rented construction equipment. In 1976 he branched out by buying a 60% interest in a
printing business and in 1980 he consolidated his business interests by forming Grupo Galas
as the parent company of a conglomerate that had interests in industry, construction, mining,
retail, food and tobacco.

6. In 1982 the Mexican economy, which had substantially relied on oil exports, contracted
rapidly as the price of oil fell and interest rates rose worldwide. Banks and other businesses
were nationalized, crippled or collapsed and the peso was devalued. At this time, and during
the period of recovery to 1985, Slim invested heavily. He bought outright, or a large
percentage of, numerous Mexican businesses, including Reynolds Aluminio, General Popo
(General tire’s trading name in Mexico), Bimex hotels andSanborns, a food retailer. He also
acquired a 40% interest in the Mexican arms of British American Tobacco and 50% of that
of The Hershey Company. He moved into financial services as well, buying Seguros de
México and creating from it, along with other purchases such as Fianzas La Guardiana and
Casa de Bolsa Inbursa, the Grupo Financiero Inbursa. Many of these acquisitions were
financed by the cash flows from Cigatam, a tobacco business which he bought early in the
economic downturn.
He added the Nacrobre group of companies – which trade in copper and aluminium
products – in 1986, along with a chemicals business, Química Fluor, and others.
In 1990 the Grupo Carso was floated as a public company, with share placements initially
in Mexico and then worldwide.
.

7. In 1991 he acquired Hoteles Calinda (today, OSTAR Grupo Hotelero) and in 1993
increased his stakes in General Tire and Grupo Aluminio to the point where he had a
majority interest.
In 1996 Grupo Carso was split into three companies – Carso Global Telecom, Grupo
Carso, and Invercorporación – and the following year Slim bought the Mexican arm
of Sears Roebuck.
1999 saw Slim expanding his business interests beyond Latin America. He set up Telmex
USA and also acquired a stake in Tracfone, a US cellular telephone company. At the same
time he established Carso Infraestructura y Construcción, S. A. (CICSA) as a part of the
Grupo Carso, this being a construction and engineering company. It was also at this time
that he had heart surgery and subsequently passed on much of the day-to-day involvement in
the businesses to his children and their spouses.
América Telecom, the holding company for América Móvil was incorporated in 2000. It
took stakes in various cellular telephone companies outside Mexico, including the Brazilian
ATL and Telecom Americas concerns, Techtel in Argentina, and others in Guatemala and
Ecuador. In subsequent years there was further investment in this sphere, including deals
involving companies in Colombia, Nicaragua, Peru, Chile, Honduras and El Salvador. 2000
also saw a venture with Microsoft which led to the start of the Spanish T1msn portal, later
renamed ProdigyMSN.

8. Having amassed a 50.1% stake in Cigatam, the tobacco company, Slim reduced his
holdings by selling a large part of that to Philip Morris in 2007 for $1.1bn, while in the same
year also selling his entire interest in a tile company, Porcelanite, for $800m. He also
licensed the Saks name and opened Saks Fifth Avenue in Santa Fe, Mexico. The following
year saw him take a 6.4% stake in The New York Times Company.
On December 8, 2007, Grupo Carso announced that the remaining 103 CompUSA stores
would be either liquidated or sold, bringing an end to the struggling company as it was then
known, although the brand continues. After 28 years he became the Honorary Lifetime
Chairman of the business. He is also Chairman of Telefonos de Mexico, America Movil,
and Grupo Financiero Inbursa.

9. On March 29, 2007, Slim surpassed Warren Buffett as the world's second richest person
with an estimated net worth of $53.1 billion compared to Buffet's $52.4 billion.
On August 4, 2007, The Wall Street Journal ran a cover story profiling Slim. The article
said, "While the market value of his stake in publicly traded companies could decline at any
time, at the moment he is probably wealthier than Bill Gates". According to The Wall Street
Journal, Slim credits part of his ability to "discover investment opportunities" early to the
writings of his friend, futurist author Alvin Toffler.
On August 8, 2007, Fortune reported that Slim had overtaken Gates as the world's richest
man. Slim's estimated fortune soared to $59 billion, based on the value of his public
holdings at the end of July. Gates' net worth was estimated to be at least $58 billion.
On March 5, 2008, Forbes ranked Slim as the world's second-richest person, behind
Warren Buffett and ahead of Bill Gates.
On March 11, 2009, Forbes ranked Slim as the world's third-richest person, behind Gates
and Buffett and ahead of Lawrance Ellison.
On March 10, 2010, Forbes once again reported that Slim had overtaken Gates as the
world's richest man, with a net worth of $53.5 billion.At the time, Gates and Buffett had a
net worth of $53 billion and $47 billion respectively. He was the first Mexican to top the
list. It was the first time in 16 years that the person on top of the list was not from the United
States. It was also the first time the person at the top of the list was from an "emerging
economy."

10. In 1995 he established Fundación Telmex, a broad-ranging philanthropic foundation. This
followed the creation of his eponymous non-profit philanthropic foundation, Fundación
Carlos Slim Helú in 1986. In 2007 Slim announced that the latter body had been provided
with an asset base of $4 billion and that it would be establishing Carso Institutes for Health,
Sports and Education. Furthermore, it was to work in support of an initiative of Bill
Clinton to aid the people of Latin America. Because Mexican foundations are not required
to publish their financial information, it is not possible to confirm Slim’s claims of
charitable giving through a public source.
Among the activities of Fundación Telmex has been the organisation of Copa Telmex, an
amateur sports tournament which in 2007 was recognised by Guinness World Records as
having the most participants of any such tournament in the world, a record which it
extended in 2008. Together with Fundación Carlos Slim Helú, this organisation announced
in the same year that it was to invest more than $250 million in Mexican sports
programmes, from grass-roots level to Olympic standard.

11. The Fundación Carlos Slim Helú sponsors the Museo Soumaya in Mexico City which
contains the world's second-largest (and largest private) collection of Rodin sculptures,
including The Kiss. Named after Slim's late wife, Soumaya Domit, the Museo Soumaya
holds 66,000 pieces, including religious relics, works by Leonardo Da Vinci, Pablo Picasso,
Pierre-Auguste Renoir and coins from the viceroys of Spain. In particular, the museum
holds the largest Dali collection in Latin America.
In 2000, Slim, along with ex-broadcaster Jacobo Zabludowsky organized the Fundación
del Centro Histórico de la Ciudad de México A.C. (Mexico City Historic Downtown
Foundation), with the objective to revitalizing and rescuing Mexico City's historic
downtown area to enable more people to live, work and find entertainment there. He has
been Chairman of the Executive Committee for the Restoration of the Historic Jeripollas
since 2001.
In 2010 he inaugurated the first phase of the Plaza Mariana project in the Basilica de
Guadalupe to reorganize tolerated commerce in the atrium and adjacent space. He also
inaugurated his version of the Rockefeller Center where most of his ventures will now share
a common headquarters address, Plaza Carso.
In May 2011, Slim was mentioned in Forbes' World's Biggest Givers after donating $4
billion to his foundation.

12. Slim has been vice-president of the Mexican Stock Exchange and president of the
Mexican Association of Brokerage Houses He was the first president of the Latin-American
Committee of the New York Stock Exchange Administration Council, and was in office
from 1996 through 1998.
Slim was on the Board of Directors of the Altria Group (previously known as Philip
Morris) until his resignation in April 2006. Slim was also on the Board of Directors
of Alcatel. Slim currently sits on the Board of Directors for Philip Morris International. He
was on the Board of Directors of SBC Communications until July 2004, when he quit to
devote more time to the World Education & Development Fund, which is focused on
infrastructure, health and education projects. In 1997, just before the company introduced its
iMAC line, Slim bought 3% of Apple Inc.'s stock.
In 2008 it was reported that Slim had shown an interest in buying the Honda Formula
One team. Telmex is sponsoring the Sauber F1 team for the 2011 season.

13. The Mexican magnate's growing fortune has caused a controversy because it has been
amassed in a developing country where per capita income does not surpass $14,500 a year,
and nearly 17% of the population lives in poverty. Critics claim that Slim is a monopolist,
pointing to Telmex's control of 90% of the Mexican landline telephone market. Slim's
wealth is the equivalent of roughly 5% of Mexico's annual economic output. Telmex, of
which 49.1% is owned by Slim and his family, charges among the highest usage fees in the
world, according to the Organisation for Economic Co-operation and Development.
According to Professor Celso Garrido, an economist at the Universidad Nacional
Autonoma de Mexico. Slim's domination of Mexico's conglomerates prevents the growth of
smaller companies, resulting in a shortage of paying jobs and forcing many Mexicans to
seek better lives in the United States of America.

14. Slim has been awarded the Entrepreneurial Merit Medal of Honor from Mexico's Chamber
of Commerce. He is a "gold patron" of the American Academy of Achievement, a
Commander in the Belgian Order of Leopold , CEO of the year in 2003 by Latin
Trade magazine, and one year later CEO of the decade by the same magazine.
In 2008 his philanthropy was recognised with the award of The National Order of the
Cedar by the Lebanese government.
On May 20, 2012 Slim was awarded an honorary degree from George Washington
University.

15. http://en.wikipedia.org
http://arsiv.ntvmsnbc.com
http://businesstoday.intoday.in