NO: 67 Elu everywhere

The largest shareholder of Mexico América Telecommunications is Carlos Slim Elu. He was the richest man in the world for three consecutive years in 2010, 2011 and 2012.

Elu graduated in Civil Engineering from the National Autonomous University of Mexico in 1962. In the 80s of the 20th century, Mexico had a debt crisis and the economy continued to deteriorate.

When the news of the peso's depreciation caused a huge panic among the Mexican elite, many wealthy Mexicans quickly pulled cash out of the stock and bond markets. They took advantage of the peso's depreciation to sell the peso in order to gain a short-term effect in the futures market.

Bondholders demanded to be repaid in US dollars but the financial crisis dashed their hopes entirely. Mexico's domestic financial elite, like investors in the United States and Europe, quickly withdrew from the bond market, and Mexican stocks continued to fall, falling by 48 percent in three months.

The stock market has experienced an unprecedented depression, Mexico has experienced the worst financial crisis in its history, and a large number of companies are on the verge of bankruptcy due to the breaking of the capital chain.

At this time, the domestic industry was on the verge of collapse. Many wealthy Mexicans, fearing that their country would embark on a socialist path, fled and confidence in the economy collapsed, and this was the time for Elo to strike hard.

At that time, many companies were sold for only 5% of their actual value. With a small amount of money, Elu bought up more than a dozen large Mexican companies in one go. When the economic situation warmed up, these companies brought him hundreds of millions of handsome returns.

In the late 90s of the 20th century, in the wave of privatization of Mexican state-owned enterprises, Elilu, the son of Lebanese immigrants, joined forces with SBC and France Telecom to buy 20% of the shares of Mexican Telecom from the Salinas government of Mexico for $2 billion. And successfully turned this indebted state-owned enterprise into a "cash cow".

Then Elu began to expand his tentacles into other areas. The company he controls is the most important mobile communications company in Latin America. Some joke that all of Latin America is talking through Elu.

In addition, Elu's vast industrial empire includes tobacco, internet services, insurance, banks, shopping malls, restaurants, video stores, auto parts, electronics, steel and cement, and even airlines.

The combined market capitalization of Elllu's companies accounts for nearly half of the $366 billion worth of publicly traded companies in Mexico today. Elu himself has become the "bread and butter" of Mexico's 250,000 employees. In the words of George Grayson, a Mexico expert at the College of William & Mary in the United States, "Elu's estate is literally covered from cradle to grave." Mexico is like an 'Elu Kingdom', he is everywhere. ”

Invisible and intangible, but dense in every corner of Mexican life, this is perhaps the ultimate face of capitalism, which is as omnipresent as a ghost.

Many Mexicans may have been born in Slim's hospital. Every morning, Mexicans wake up to the alarm sound of their cell phones, and the cell phone service they use is provided by Slim;

They drove to work, the tires of the car were bought from Slim's shop, and the steel used in the construction of the road infrastructure was produced by Slim's company;

At noon, they might eat at a restaurant owned by Slim, drink a bottle of soda and light a cigarette after dinner, all from Slim's business, and then turn on the TV to watch the news on Slim TV;

Internet access, they use the network service provided by Slim Company, if you want to speculate in stocks, half of the value of the enterprises are Slim's;

Even if they want to go on vacation, their credit cards, planes and hotels may also be Slim's businesses, and if these people are looking down at the moment, then the floor under their feet is also closely connected to Slim, because his ceramics company controls 40% of Mexico's flooring industry.

While some see Elu as a national pride of Mexico, many others accuse him of amassing wealth through monopoly, hindering the country's economic development and infringing on the interests of consumers. They believe that Elu is the best embodiment of the social contradictions of Mexico's wide gap between the rich and the poor and the lack of competition mechanisms.

The Mexican telephone company controls more than 90 percent of the telephone service in Mexico, so Elu can set its own rates that are higher than those of any other developed country, and the subscribers have no choice but to pay what they want. Elu also "snatched" 72 percent of Mexico's mobile phone customers through Mobile of the Americas, excluding foreign competitors.

Of course, he sometimes engages in charity, and some people think that his philanthropic actions are to beautify his image as a monopoly giant. "Carlos Slim may be stealing money, but he's also going to do everything he can to protect the monopoly," said Pamela Starr, a Latin American analyst at Washington's Eurasia Group.

Of course, there has never been a truly self-made richest man in the world, and Elu is no exception. Because his dad was also a businessman, and a very successful businessman. And he himself is a standard rich second generation.

Slim Elu's father's name was Julian Slim al-Haidadi, a native of Lebanon. In 1902, Julian left Lebanon to escape military service in the Ottoman Empire, crossed the Atlantic, and finally settled in Mexico City. In Mexico, Julian taught himself Spanish and runs a dry goods store called the Oriental Star in a Lebanese immigrant colony.

In 1910, Mexico held a presidential election, and the more than 30 years of dictatorship of the ruler Díaz caused widespread dissatisfaction, leading to a revolution in Mexico, and Díaz finally had to go into exile. At this time, various forces in the country began to compete for power, and the political situation in Mexico City was unstable, and people fled.

But at this time, Zhu Li'an bought a sold real estate in the center of the city, and later proved his courage and vision, and the return on this investment earned him his first pot of gold. It can be seen that business acumen and business methods can be inherited.

Slim Elu, who is 77 years old this year, slowly but carefully placed his son and son-in-law in senior positions at the core company after undergoing open heart surgery in 1998. Rather than considering splitting the consortium and dividing it among his children, he tried to keep it intact and prevent them from competing with each other.

The eldest son, Domit, is the most important in Slim's arms and is in the top management of the family consortium. In 2004, Slim handed over the chairmanship of Telmex Telecom, the core of the consortium, to his eldest son, Domin, and stepped down as honorary chairman of the board.

His three sons managed Calso and his financial company, Inbosa, and all Lin needed was to control his three sons and himself, as well as his relatives, such as his cousin, who was a banker. At the right time, Lin Feng didn't mind replacing them with robots, of course, it was not a last resort, he couldn't do so much, the business acumen and market acumen of robots were far from being comparable to businessmen like them who had been passed down for generations.

When Lin Feng's bio-sensing bomb appeared, Lin Feng felt that it was too easy to control a person, and Lin Feng didn't mind giving that one to every member of the Slim Elu family.

And Slim Elu is not in Mexico at the moment, but in New York's Duke Seamans Mansion Urban Art Residence, isn't it New York? Even if he goes to the White House to arrest the President of the United States, it will not be too difficult for Lin Feng to think about it.