Ten days ago, Forbes Magazine released its annual list of the world's richest. Surprise, surprise, Bill Gates isn't the world's wealthiest man anymore! According to Forbes, Carlos Slim Helu (above) is the first non-U.S. citizen since 1994 to become the world's richest man. He is Mexican but is of Lebanese descent. He surged to the top spot ($53.5 billion) due to the outstanding performance of his telecom holdings America Movil and Telefonos de Mexico. A close second ($53 billion) is Bill Gates (below, left) and sinking to third ($47 billion) is the Oracle of Omaha, investment guru Warren Buffett (below, right).
Its interesting to note that Warren Buffett held the top spot in 2008 before Bill Gates took it back from him last year. Some insights may be gained from analogies derived from this new developments. Bill Gates made his billions in software thru Microsoft. He could represent the new hi-tech industries. Warren Buffett could stand for the old guard. He avoids new technology that he doesn't understand and invests in the tried and tested like his largest holdings: Coca-Cola, Gillette, property insurance company GEICO, the Washington Post and railroad company Burlington Northern Santa Fe.
Now, Carlos Slim Helu is king of the hill. He represents the middle-ground. These are industries that have successfully adapted to the changes brought by the new while retaining the stability of the old. What companies better represent these industries than America Movil and Telefonos de Mexico? They are the PLDT of Mexico and other American countries. These companies made a successful transition from the copper telephone lines of old into the fiber-optic cables that are the physical infrastructure of the information age. Foresight coupled with the ability to adapt to changing times and a bit of luck perhaps, allowed them to hold the enviable position of owning the toll bridges of the Information Superhighway.
(14th entry)
Source:
http://www.forbes.com/2010/03/09/worlds-richest-people-slim-gates-buffett-billionaires-2010-intro.html#
Pictures:
http://images.forbes.com/media/lists/10/2009/slide/carlos-slim-helu.jpg
http://www.chinadaily.com.cn/world/2007-03/09/xin_11030409090185957979.jpg
http://www.business-sale.com/blog/wp-content/uploads/2008/05/warren-buffet.jpg
Its interesting to note that Warren Buffett held the top spot in 2008 before Bill Gates took it back from him last year. Some insights may be gained from analogies derived from this new developments. Bill Gates made his billions in software thru Microsoft. He could represent the new hi-tech industries. Warren Buffett could stand for the old guard. He avoids new technology that he doesn't understand and invests in the tried and tested like his largest holdings: Coca-Cola, Gillette, property insurance company GEICO, the Washington Post and railroad company Burlington Northern Santa Fe.
Now, Carlos Slim Helu is king of the hill. He represents the middle-ground. These are industries that have successfully adapted to the changes brought by the new while retaining the stability of the old. What companies better represent these industries than America Movil and Telefonos de Mexico? They are the PLDT of Mexico and other American countries. These companies made a successful transition from the copper telephone lines of old into the fiber-optic cables that are the physical infrastructure of the information age. Foresight coupled with the ability to adapt to changing times and a bit of luck perhaps, allowed them to hold the enviable position of owning the toll bridges of the Information Superhighway.
(14th entry)
Source:
http://www.forbes.com/2010/03/09/worlds-richest-people-slim-gates-buffett-billionaires-2010-intro.html#
Pictures:
http://images.forbes.com/media/lists/10/2009/slide/carlos-slim-helu.jpg
http://www.chinadaily.com.cn/world/2007-03/09/xin_11030409090185957979.jpg
http://www.business-sale.com/blog/wp-content/uploads/2008/05/warren-buffet.jpg
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