Telmex's Carlos Slim Richest Man in the World - Telco Monopoly Leads to $68.5 Billion Net Worth | DSLReports.com, ISP Information
According to Bloomberg's billionaire index, Mexican telecom tycoon Carlos Slim is the richest living human being on the planet with an estimated net worth of $68.5 billion. Most of that wealth comes courtesy of Slim's Telmex, which dominates 80% of the landline voice and broadband market in Mexico, with Slim also controlling about 70% of the wireless market with America Movil. While Slim's personal wealth is staggering, a recent OECD report found Mexico had the lowest per capita public investment in telecommunications in the 34-member OECD, while Telmex maintained a profit margin of 47 percent, among the highest of all member countries. The report also found that Mexicans are overcharged $13.4 billion a year for phone and Internet services. As an aside, Slim's getting ready to launch a Netflix-esque streaming service.