I recently read a Wall Street Journal article on Carlos Slim, a Mexican billionaire who is currently the World’s Richest Man. Controlling over 200 companies in multiple industries, Slim has earned $27 million every day for the past 2 years.
His fortune also makes up a staggering 7% of Mexico’s yearly economic output.
How did he amass this huge amount of wealth? Monopolies. Controlling distribution and pricing for essential products with consistent and ever increasing demand.
His golden egg is of course, telecommunications. Telmex, his company controls 90% of the Mexican landline telephone market .
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