It wasn’t just U.S. tech billionaires who had a front-row seat at Donald Trump’s January 20 inauguration. Mexico’s richest man was also in attendance.
Reports suggest that Carlos Slim Helú and Trump share a warm relationship. “A lovely dinner with a wonderful man,” was how the U.S. president described their meeting in December 2016, just before his first term began.
Currently ranked as the world’s 18th richest person and Latin America’s wealthiest (according to the Bloomberg Billionaires Index) with an estimated fortune of US$85 billion, Slim has established a significant presence in the United States, with his strategic investments spanning media, telecommunications and construction. Although he was a major shareholder in The New York Times for several years, Slim reduced his stake in 2017.
Slim is keenly aware of the importance of cultivating strong relationships with leaders across the Americas. Despite their ideological differences, he benefited during Andrés Manuel López Obrador’s presidency, securing contracts for sections of the Maya Train project, in addition to other energy and construction concessions. Some analysts suggest that his cordial relationship with López Obrador helped his flagship telecom company, América Móvil—the largest in Latin America—maintain its market dominance, amid the growing calls for regulatory bodies to take stronger action to level the playing field.