Carlos Slim

Part I — The story

The story

Carlos Slim built one of the world's great fortunes and became, for years, the richest person in the world, by applying a disciplined value-investor's approach to acquiring businesses across Mexico and Latin America — especially telecommunications. His defining moves were buying undervalued and distressed companies, particularly during Mexico's economic crises when others were fleeing, and acquiring the national telephone company, which gave him control of essential infrastructure with enormous pricing power.

Slim, the son of a Lebanese immigrant shopkeeper, learned business and financial discipline young, and became known for frugality, deep analysis, and a long-term orientation — buying cash-generating assets cheaply and holding them. Owning telecoms gave him a near-monopoly moat in markets with few alternatives. He is a study in deep-value, counter-cyclical acquisition, in the enormous power of owning essential infrastructure, and in patient, disciplined capital allocation across a diversified empire.

By the numbers

Crises

Bought distressed assets when others fled

Telecoms

Control of essential infrastructure

Richest

World's wealthiest person for several years

Value

Disciplined deep-value acquisition

Part II — The playbook

The playbook

Principle 1

Buy value when others flee

Slim acquired distressed assets cheaply during crises others were escaping.

Do this: Buy quality cash-generating assets when fear makes them cheap.

Principle 2

Own essential infrastructure

Control of telecoms gave him a near-monopoly moat with pricing power.

Do this: Owning the infrastructure people can't do without is among the deepest moats.

Principle 3

Allocate capital with discipline

Frugal and analytical, he bought cheap and held for the long term.

Do this: Be disciplined and patient in capital allocation; cheap plus durable compounds.

In their words

Maintain austerity in prosperous times.

Competition makes you better; it makes you faster, quicker, and more creative.

When there's a crisis, that's when some are interested in getting out — and that's when we buy.

Why this matters

The thinking behind these decisions connects to models you can study directly:

Frequently asked questions

How did Carlos Slim build his fortune?

By applying a disciplined value-investor's approach — buying undervalued and distressed businesses, especially during Mexico's crises when others fled, and acquiring the national telephone company for control of essential infrastructure.

What was Slim's key moat?

Owning essential infrastructure, especially telecommunications, gave him a near-monopoly in markets with few alternatives — enormous, durable pricing power.