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☆ Michael Bloomberg is worth an estimated $106 billion — but you won't find him on the Bloomberg rich list
▼ + stars: | 2024-04-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewThe release of Forbes' annual rundown of the world's billionaires has underlined a glaring omission from the Bloomberg Billionaires Index: Michael Bloomberg himself. Forbes ranked the 82-year-old Bloomberg LP founder in 12th place with an estimated $106 billion fortune as of March 8. Based on Forbes' wealth estimate, Bloomberg would be in joint 12th position with Michael Dell (also $106 billion) as of Thursday. Related storiesThe Bloomberg Index's methodology explains why the boss is missing: "Bloomberg News editorial policy is to not cover Bloomberg LP. As a result, Michael Bloomberg, the founder and majority owner of Bloomberg LP, isn't considered for this ranking."

Persons: —, Michael Bloomberg, Sergey Brin, Amancio Ortega, Carlos Slim Helu, Michael Dell, isn't, Forbes, Jensen Huang, Salomon Brothers, He's Organizations: Service, Forbes, Bloomberg, Business, Nvidia, Waltons, CVS Health, GM, New York City's Locations: Inditex, New York

☆ An Indian mega-party is attracting so many private jets that officials set up extra passport control for all the VIPs
▼ + stars: | 2024-03-01 | by ( Kieran Corcoran | ) www.businessinsider.com time to read: +2 min

Guests like Bill Gates, Mark Zuckerberg, and Ivanka Trump, led to a surge in private jets at the local airport. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . is underway in India, and the local airport is pulling out all the stops to cope. That kind of guestlist brings a long trail of private jets and the local airport in Jamnagar isn't built for it. It said around 50 of them were private jets coming from other countries, meaning passport control for their occupants.

Persons: India's Ambani, Bill Gates, Mark Zuckerberg, Ivanka Trump, —, Ambani, Anant, Radhika Merchant, Mukesh Ambani, Ajit Solanki, Sergei Brin, Mexico's Carlos Slim, It's, Larry Fink, Rihanna, Jamnagar isn't, Priscilla Chan, DK Singh Organizations: Service, Bloomberg, Reliance Industries, of, Immigration Locations: India, Jamnagar, Reliance Township, Indian, Gujarat, Davos, of India

☆ Mexico Reaches Deal to Buy Highway Concession From Billionaire Slim
▼ + stars: | 2024-02-05 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

MONTERREY, Mexico (Reuters) - Mexican President Andres Manuel Lopez Obrador announced that his government has reached an agreement with local billionaire Carlos Slim to buy the concession to part of a highway still under construction in the southern state of Oaxaca. He sits on the board of directors of Ideal, which is wrapping up construction on the branch of the highway running from the towns of Mitla to Tehuantepec. The highway track, part of a larger stretch running all the way to the city of Oaxaca, will be inaugurated on Aug. 31, Lopez Obrador said. The president, who will leave office later this year, has made infrastructure projects in the historically poorer southern part of Mexico a cornerstone of his administration. (Reporting by Kylie Madry in Mexico City and Laura Gottesdiener in Monterrey; Editing by Paul Simao)

Persons: Andres Manuel Lopez Obrador, Carlos Slim, Lopez Obrador, Slim, Kylie Madry, Laura Gottesdiener, Paul Simao Organizations: America, Grupo Carso, Ideal Locations: MONTERREY, Mexico, Oaxaca, Mitla, Tehuantepec ., Mexico City, Monterrey

☆ Mexico's America Movil denies report it's eyeing Argentine telecoms firm Arsat
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The logo of America Movil is pictured on the wall at a reception area in the company's corporate offices, in Mexico City, Mexico January 25, 2022. REUTERS/Gustavo Graf/File Photo Acquire Licensing RightsMEXICO CITY, Nov 23 (Reuters) - America Movil (AMXB.MX), the Mexican telecommunications company controlled by billionaire Carlos Slim, on Thursday denied a report it is in talks with Argentine President-elect Javier Milei's team to buy Argentina's state telecoms company Arsat. Citing sources close to the matter, website La Politica Online said plans to sell Arsat are very advanced, and reported that a member of Milei's transition team on Tuesday held talks with executives from America Movil's Argentine unit, Claro. La Politica Online said the value of Arsat was discussed during the talks with a figure of around $930 million mentioned. A spokesperson for Milei's transition team did not immediately respond to a request for comment.

Persons: Gustavo Graf, Carlos Slim, Javier Milei's, Arturo Elias, Slim's, Arsat, Dave Graham, Eliana, Jonathan Oatis, Marguerita Choy Organizations: REUTERS, MEXICO CITY, Argentine, Reuters, Politica, America Movil's, Thomson Locations: Mexico City, Mexico, MEXICO, Mexican, America Movil's Argentine, Claro

☆ Mexico's Telmex reaches pay rise agreement with union, ministry says
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, June 5 (Reuters) - Mexican telecom Telmex, a subsidiary of America Movil (AMXB.MX), has reached a deal with a workers' union that proposes a 5.6% pay rise, the country's labor ministry said on Monday, after extended negotiations. Some 30,000 current and retired workers will now vote on the deal, it added. The company and union also agreed on other commitments such as increasing market share, sales, customer retention, investments, benefits for workers' children, share-exchange and voluntary permanence programs among others, it added. The labor ministry had been mediating between the company and the telephone workers' union. ($1 = 17.4537 Mexican pesos)Reporting by Carolina Pulice; Editing by Sarah MorlandOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Slim's, Carolina Pulice, Sarah Morland Organizations: MEXICO CITY, Thomson Locations: MEXICO, Mexican, America

☆ These rich and famous people got burned by investing hundreds of millions in Elizabeth Holmes' Theranos
▼ + stars: | 2023-06-04 | by ( Ryan Hogg | Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Here are some who got burned by Theranos, from the Walton family to Rupert Murdoch. Rupert Murdoch invested $125 million in Theranos. Julio Cortez/APThe DeVos familyThe DeVos family, who are heirs to the Amway empire and includes former US Secretary of Education Betsy DeVos, poured $100 million into Theranos. Joshua Roberts/ReutersThe Cox familyTheranos also got $100 million from the Atlanta-based billionaire Cox family, which owns the media and automotive company Cox Enterprises. The Cox family was the eight-wealthiest in the US as of 2020, with a net worth of $34.5 billion at the time, according to Forbes.

Persons: Elizabeth Holmes, Theranos, Walton, Rupert Murdoch, Holmes, Ramesh, Sunny, Balwani, Forbes —, Murdoch, Julio Cortez, Betsy DeVos, they're, Joshua Roberts, Cox, Carlos Slim Carlos Slim, América, Andreas Dracopoulos, Stavros Niarchos, Robert Kraft, It's, Kraft, Tom Brady, Matt Slocum, Alan Eisenman Alan Eisenman, Eisenman Organizations: Morning, Wall Street, Walmart, Forbes, Rupert Murdoch Media, Street, Amway, Cox Enterprises, Stavros Niarchos Foundation, Robert Kraft New England Patriots, Bloomberg, New England Patriots, CBS Locations: Theranos, Atlanta, Latin America, Mexico, FTX

☆ No medal sale as airline steps in to fly Mexican Olympians to worlds
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

Elite Mexican aquatic athletes have been driven to selling towels and bathing suits among other fund-raising initiatives since government funding was cut in a row over the governance of the Mexican Swimming Federation (FMN). Moments later, however, they received an on-air call from an Aeromexico executive, who said the airline would ferry the entire diving team to the Aquatics World Championships in Japan in July. The Aeromexico offer is not the first case of private initiative coming to the aid of Mexico's aquatic athletes. Billionaire businessman Carlos Slim, through his philanthropic foundation, funded the Artistic Swimming team's trip to the World Championships in Egypt, where they won three golds and a bronze earlier this week. Reporting by Janina Nuno Rios in Mexico City; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

☆ Mexican Olympians avoid auctioning medals as airline steps in to fly them to world championships
▼ + stars: | 2023-05-18 | by ( ) edition.cnn.com time to read: +2 min

Reuters —Mexico’s largest airline has offered to fly Olympic divers Alejandra Orozco and Gabriela Agúndez to this year’s world championships for free after government funding cuts forced them to try to find ways to pay their own passage. Elite Mexican aquatic athletes have been driven to selling towels and bathing suits among other fundraising initiatives since government funding was cut in a row over the governance of the Mexican Swimming Federation (FMN). Moments later, however, they received an on-air call from an Aeromexico executive, who said the airline would ferry the entire diving team to the Aquatics World Championships in Japan in July. The Aeromexico offer is not the first case of private initiative coming to the aid of Mexico’s aquatic athletes. Billionaire businessman Carlos Slim, through his philanthropic foundation, funded the Artistic Swimming team’s trip to the World Championships in Egypt, where they won three golds and a bronze earlier this week.

☆ Mexican government takes pride in artistic team after cutting funding
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

Mexico increased their World Cup medal tally to four on Monday at the competition in Egypt, having travelled there thanks to the support of businessman Carlos Slim. With three golds and a bronze, the North American country finished second in the medal table behind Spain. Their first medal success came in the Mixed Team Technical event on Saturday, when a statement from the government praising the swimmers raised eyebrows after the National Commission for Physical Culture and Sport (CONADE) cut support from the team. "The Mexican artistic swimming team's historic participation in the World Cup in Egypt was a golden one. loadingCONADE head Ana Guevara announced the cut in funding in January after global governing body World Aquatics did not recognise the president of the Mexican Swimming Federation, Kiril Todorov, who is facing a trial for embezzlement.

☆ Grupo Mexico nearing $7 bln deal for Citi's Banamex unit -source
▼ + stars: | 2023-05-11 | by ( Andres Gonzalez | ) www.reuters.com time to read: +2 min

[1/2] The logo of Banamex bank is on a branch in Mexico City, Mexico, November 17, 2017. As part of the deal, Citi will retain a roughly 10% stake in the Banamex unit, the source said, requesting anonymity as the discussions are confidential. Reuters had reported in February that Grupo Mexico's proposed deal for Banamex could value it at $7 billion or more. Grupo Mexico did not immediately respond to a request for comment. Bloomberg reported on talks advancing between Grupo Mexico and Banamex earlier on Wednesday.

☆ The world's 12 wealthiest people got richer by $36 billion in a day - and have now gained $264 billion in net worth this year
▼ + stars: | 2023-04-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk, Jeff Bezos, and their peers have added $264 billion to their fortunes this year. The surge in their companies' stock prices this year has added $46 billion and $42 billion to their respective fortunes. Amazon founder Jeff Bezos, Tesla CEO Elon Musk, and L'Oreal heiress Francoise Bettencourt-Myers have gained around $27 billion, $25 billion and $23 billion each. The billionaire best friends have added $13 billion and $7 billion to their respective fortunes since the start of January. Meanwhile, the $36 billion of wealth they gained on Thursday rivals the the market values of grocery giant Kroger and Taco Bell-owner Yum!

☆ Mexico's America Movil quarterly profit dips as peso appreciates
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +1 min

The company, controlled by the family of Mexican tycoon Carlos Slim, said currency gains dropped about 40% to 13.7 billion pesos from 22.5 billion pesos in the year-ago period. From January through March, the Mexican peso appreciated against several other currencies, the company said in a statement. Revenue rose about 2% to nearly 209 billion pesos, above a Refinitiv forecast of 191.84 billion pesos. Earnings before interest, taxes, depreciation and amortization (EBITDA), or core earnings, totaled 82.7 billion pesos in the three-month period, up 3.2% from a year ago. As of the end of March, net debt totaled 365.1 billion pesos excluding leases, down 16.4 billion pesos from the end of 2022.

☆ BBVA, Santander, Bank of America want to back Mexico's $6 billion power deal, Bloomberg reports
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Spanish utility company Iberdrola is seen outside its headquarters in Madrid, Spain, May 23, 2018. REUTERS/Sergio Perez/File PhotoApril 13 (Reuters) - Banco Bilbao Vizcaya Argentaria (BBVA.MC), Banco Santander SA (SAN.MC) and Bank of America Corp (BAC.N) together plan to fund Mexico's $6 billion deal to purchase power plants from Spain's Iberdrola (IBE.MC), Bloomberg News reported on Thursday citing people familiar with the talks. The three lenders are among a consortium looking to finance the deal, the report said, with local banks such as Grupo Financiero Banorte and billionaire Carlos Slim's Grupo Financiero Inbursa also interested. The Bank of America declined to comment on the report, while Banco Bilbao Vizcaya Argentaria, Banco Santander SA and Iberdrola did not immediately respond to Reuters' requests for comment. Reporting by Nilutpal Timsina in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico's America Movil projects $8 bln to $8.2 bln investment in 2023
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 15 (Reuters) - Mexican telecommunications firm America Movil expects to invest between $8 billion and $8.2 billion in 2023, which includes radio-frequency concessions, fiber-optic network expansions and digitalization, a company executive said Wednesday. The estimate is in line with the company's plan to invest $24 billion over three years, Chief Financial Officer Carlos Garcia said in a call with analysts. The firm, controlled by the family of billionaire Carlos Slim, saw its fourth-quarter profit slide by 90%, it reported Tuesday. America Movil expects to enact price hikes in 2023, though it is still evaluating which countries will see the increases, executives said Wednesday on the call. Reporting by Kylie Madry, Aida Pelaez-Fernandez and Cassandra Garrison Editing by Caitlin WebberOur Standards: The Thomson Reuters Trust Principles.

☆ Carlos Slim is the 10th-richest person in the world—take a look inside his $80 million Gilded Age mansion in NYC
▼ + stars: | 2023-02-14 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

Billionaire Carlos Slim is currently selling his Fifth Avenue townhouse for $80 million. Carlos Slim, one of the top 10 wealthiest people in the world, is currently looking for someone to take a $80 million New York City mansion off his hands. The New York City mansion, built in 1899-1901, was designated a landmark in 1974. The limestone and red-brick mansion spans 27 feet along Fifth Avenue and 100 feet of frontage facing 82nd street. CNBC Make It reached out to Compass, but the brokerage has no comment about the $80 million listing at this time.

Feb 1 (Reuters) - Grupo Mexico (GMEXICOB.MX), the conglomerate controlled by billionaire German Larrea, has secured a $5 billion debt package for its proposed acquisition of Citigroup Inc's (C.N) retail operations in Mexico, according to people familiar with the matter. The move represents a major milestone in Grupo Mexico's efforts to put together the deal for Banamex, the unit that encompasses the Citigroup assets. Several banks, including Barclays Plc (BARC.L) and HSBC Holdings Plc (HSBA.L), have pledged to provide the debt financing, the sources said. Citi, Grupo Mexico, Barclays and HSBC declined to comment. Citi stepped back from conversations with Becker to prioritize a potential deal with Larrea, according to sources.

☆ Warren Buffett is the only top-10 billionaire to become poorer this year after Berkshire Hathaway missed out on the stock market's rally
▼ + stars: | 2023-01-31 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Berkshire Hathaway stock is trailing the S&P 500's 5% gain and the Nasdaq's 10% jump this month. Amazon stock has jumped 17% this year, while Microsoft stock has inched up 1%. Investors flocked to Berkshire stock in 2022, sending its stock price up about 3% even as the S&P 500 slumped 19% and the Nasdaq tumbled by one-third. While Buffett is the only top-10 billionaire in the red this year, he's still ranked fifth in the index. Adani Group's stock price has plunged in recent days after short-seller Hindenburg Research released an incendiary report on the company.

☆ Citi Mexico suitor Mifel enlists Apollo, ADIA to fund bid -sources
▼ + stars: | 2022-11-27 | by ( Pablo Mayo Cerqueiro | David French | ) www.reuters.com time to read: +2 min

LONDON/NEW YORK, Nov 27 (Reuters) - Mexico's Banca Mifel has lined up investors including Apollo Global Management and the Abu Dhabi Investment Authority (ADIA) to fund a bid for Citigroup Inc’s (C.N) Mexican retail bank, two sources familiar with the matter told Reuters. The debt financing could attract more investors to join in Mifel's bid to buy Citibanamex, although there is enough funding already in place to fully support Mifel's proposal, one of the sources said. The competition to buy one of Mexico’s biggest banks has narrowed to two bidders, with smaller rival Mifel, led by Daniel Becker, battling billionaire German Larrea's conglomerate Grupo Mexico (GMEXICOB.MX). The two remaining bidders are now conducting further due diligence on the business, also known as Banamex, the sources said. Representatives from Mifel and Grupo Mexico did not immediately respond to emails and phone calls requesting comment.

☆ List of bidders for Citigroup's Mexican retail arm shrinks as Inbursa drops out
▼ + stars: | 2022-11-24 | by ( Valentine Hilaire | ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 23 (Reuters) - Mexican bank Grupo Financiero Inbursa (GFINBURO.MX) said on Wednesday it had pulled out of the bidding process for U.S. bank Citigroup's Mexican retail arm Citibanamex. Carlos Slim's Inbursa and German Larrea's Grupo Mexico (GMEXICOB.MX) were seen as the frontrunners in bidding for Citibanamex, known also as Banamex. "We considered from the beginning (of the bid) that it was going to be difficult for a player in the sector to make such an acquisition. Other heavyweight names such as Grupo Financiero Banorte (GFNORTEO.MX), Spanish bank Santander (SAN.MC) and media tycoon Ricardo Salinas have previously also pulled out of the process. Reporting by Carolina Pulice and Valentine Hilaire; Editing by Anthony Esposito, Stephen Coates and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico's Inbursa drops bid for Citigroup's Mexican retail arm Citibanamex
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 23 (Reuters) - Mexican bank Grupo Financiero Inbursa (GFINBURO.MX) said on Wednesday it had pulled out of the bidding process for U.S. bank Citigroup's Mexican retail arm Citibanamex. "Inbursa confirms that, following submission of a non-binding proposal for the businesses in question, the parties mutually agreed that Inbursa will not be continuing to the next stages of the process," it said in a filing. Mexican corporate titans Carlos Slim's Inbursa and German Larrea's Grupo Mexico (GMEXICOB.MX) were seen as the frontrunners in bidding for Citibanamex, known too as Banamex. Earlier this month, Mexican President Andres Manuel Lopez Obrador said there are at least three remaining bidders for Banamex. Reporting by Carolina Pulice and Valentine Hilaire; Editing by Anthony EspositoOur Standards: The Thomson Reuters Trust Principles.

☆ Citigroup to buy Deutsche Bank license in Mexico for wholesale unit
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

Financial details were not disclosed, and Deutsche Bank said it would continue to grow and invest in Mexico through its broker dealer business there. The purchase of Deutsche Bank's license allows Citi to sidestep the lengthy process of independently applying for its own, once the split is complete. The retail operation will become known as Banco Nacional de Mexico, or Banamex, while the wholesale unit will be called Citi Mexico, Citi's country chief said in September. Deutsche Bank said it would still do business in Mexico. "Deutsche Bank is committed to deliver our global emerging markets platform to all of our client base through our Mexico broker dealer entity," the bank said.

The bid amounts for the unit, known too as Banamex, were not disclosed by the sources. The sources also cautioned that no deal was guaranteed with any party and Citigroup could ultimately decide to sell Banamex shares on the Mexican Stock Exchange instead. Inbursa and Grupo Mexico declined to comment. Backed by Slim, Mexico's richest person, Inbursa was flagged as a strong contender when Citigroup put Banamex up for sale in January. However, mining tycoon Larrea has the firepower to compete as a candidate to buy Banamex, the sources said.

☆ Mexico's America Movil quarterly profit rises 13.7%, fueled by new subscribers
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 18 (Reuters) - Mexican telecommunications giant America Movil (AMXL.MX) reported on Tuesday reported a 13.7% jump in third-quarter net profit, helped by more wireless subscribers across all the regions where it operates compared to a year earlier. America Movil's revenues edged up 1.8% to 214.47 billion pesos, from 210.77 billion pesos during the year-ago period. Register now for FREE unlimited access to Reuters.com RegisterEarnings before interest, taxes, depreciation and amortization (EBITDA), or core earnings, reached 83.2 billion pesos, a 2.3% increase from a year earlier. America Movil said it added 2.9 million wireless subscribers in the quarter, including 1.9 million postpaid customers largely from Brazil. ($1 = 20.1271 pesos by end-September)Register now for FREE unlimited access to Reuters.com RegisterReporting by Kylie Madry and Noe TorresOur Standards: The Thomson Reuters Trust Principles.

MEXICO CITY, Sept 27 (Reuters) - Telmex union representatives on Tuesday rejected the latest contract offer by the Mexican telecommunications firm controlled by tycoon Carlos Slim's family, a union spokesperson said. The Mexican Telephone Workers Union, known as STRM for its Spanish acronym, will meet on Wednesday to decide the next steps, the spokesperson said. The offer, reviewed by Reuters, included bonuses for retiring workers in a bid to end a long-running dispute over benefits. It followed weeks of negotiations between the company and union after a two-day strike in July. Register now for FREE unlimited access to Reuters.com RegisterA spokesman for Telmex did not immediately respond to a request for comment.

☆ Celebrul moderator de televiziune Larry King s-a stins din viaţă la vârsta de 87 de ani
▼ + stars: | 2021-01-23 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Celebrul moderator de televiziune Larry King s-a stins din viaţă la vârsta de 87 de ani. Anunţul cutremurător a fost făcut pe pagina sa de Twitter. La începutul lunii ianuarie, legendarul jurnalist a fost spitalizat după ce a fost diagnosticat cu COVID-19. Jurnalistul, care timp de 25 de ani a fost gazda emisiunii „Larry King Live” la CNN, a dezvăuit în 2017 că a avut cancer la plămâni și a fost operat. În timpul celor 25 de ani de carieră la CNN, Larry King a intevievat candidați la alegerile prezidențiale, vedete, sportivi, actori și oameni obișnuiți.

Persons: Larry King, Anunţul, ., Larry, Carlos Slim Organizations: CNN Locations: mexican

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