Carlos Slim loses his title of ‘the richest man of the world’

Carlos Slim

The Mexican tycoon, who for three years in a row has carried the title of “richest man of the world”, lost the recognition because of the effect of the reforms driven by the Mexican President, Enrique Pena Nieto, which have impacted the industry of telecommunications, causing the fall in the price of shares of the multimillion-dollar empire of America Movil, a sector dominated by Slim.

Last Wednesday Forbes magazine said that the founder of Microsoft, Bill Gates, regained the throne of richest man in the world, three weeks after the Congress passed a new law that liberalizes the telecommunications sector.

After the fall of the shares of America Movil last month, Slim Fortune ranked 69 100 million dollars, while Gates fortune increased to 69 800 million.

The editor of Mediatelecom, a website specialized in telecommunications consulting , Jorge Bravo, told to the news agency AFP that becoming the richest main in the world ended up creating an effect against Slim.

“A series of regulations and media impact started to manifest against him for being the richest man in the world, in a country that doesn’t have that opulence and has a lot of poverty,” said Bravo.

The initiative of the Federal telecommunications law has not been enacted, but the impact that will have on the domain of Slim in this sector is not yet clear.