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Education: NA
Economic downturn and plunging peso shaved $25
billion from the fortune of Latin America's
richest man. Global recession testing his
ability to live up to the principles he sets for
his employees: "Maintain austerity in times of
fat cows." Son of a Lebanese immigrant bought
fixed line operator Telefonos de Mexico (Telmex)
in 1990; now controls 90% of Mexico's telephone
landlines. Would be a billionaire based on his
dividends alone. Biggest holding: $16 billion
stake in America Movil, Latin America's largest
mobile phone company with 173 million customers.
America Movil and Telmex reportedly planning to
jointly invest $4 billion to bolster telecom
infrastructure in Latin America. Buying up cheap
media, energy and retail assets. Last year took
stakes in New York Times Co., former billionaire
Anthony O'Reilly's Independent News & Media and
Bronco Drilling; also increased position in
Saks. Baseball statistics aficionado, art
collector.
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