Job Discussion Forums

[MELEE]

I realize Slim's fortune is not all in cash and is subject to fluctions in stock prices, but if he did conver it all to cash he could give 60,000 people a million dollars!!! And I don't know about you, but I'd be more than happy to recieve 10,000 dollars so that'd be 6,000,000 people.

I think that's right, all those zeros make me dizzy so maybe my figures are wrong.

[Phil_K]

MELEE makes a good point Wildchild. He doesn't earn an extra billion or so; this is a paper value due to stock rises, therefore his companies are doing well and he can invest more...etc, etc. The net result is that he is probably creating jobs.

TLWH - I believe Slim's companies account for over 50% of the BMV.

[geaaronson]

You would not be able to convert all those billions into cash, unfortunately so the issue is moot. No one is going to pay in cash for Slim`s assets to the tune of 68 billion USD, no matter how many buyers were involved. These transactions are always made with a mixture of funds-payments are made in gold bullion, CD`s, municipal bonds, stock transfers, preferred stock, options, property, etc. etc. You just don`t hand over 68 billion dollars.

Interesting that he is no longer #1, as if he really cares, I am sure. I had read in the Economist or Universal that there was a fourth player, an Egyptian investor who had dethroned Slim last year. I am surprised the other press has not noted him.

My students have from time to time discussed Carlos`wealth and his lack and or presence of philanthropy. Some have been his detractors, others claim that he has donated considerable amounts of money. The little known fact is that Bill Clinton has raised billions from the superrich for charitable foundations and Slim was one of the donors. Apparently you had to fork over 100 million to get on Bills elite list and he had easily got 10 such people last year to each give that sum.

For someone with 68 billion in assets, giving up 100 million only amounts to .1(one tenth of one) percent of one`s total wealth. Most zealots give 10 percent of their annual incomes to their parishes and their incomes enable them to barely live a middle class lifestyle.

Carlos also gives fellowships to students attending UNAM for books. I have one English student, a lawyer, who received such a stipend for one year at UNAM, from Slim. She also received a similar stipend from PRI.

[Henry_Cowell]