INSUBCONTINENT EXCLUSIVE:
Carlos Slim, the Mexican telecom mogul who once dominated Latin American airwaves, now sets his sights on black gold
In 2024, Slim poured $1 billion into oil ventures, signaling a bold shift in his investment strategy.The 84-year-old billionaire acquired
significant stakes in PBF Energy and Talos Energy
He invested $602 million in PBF, raising his ownership to 25%
preventing him from gaining more control
(Photo Internet reproduction)This oil-centric strategy comes despite global pushes for renewable energy
Slim bets on continued fossil fuel demand, especially in emerging markets
His net worth dropped 22% to $81.8 billion in 2024, partly due to a weakening peso
His holding company, Grupo Carso SAB, saw a 40% decline.Yet, Slim sees opportunity where others see decline
He often bought shares when prices dipped, displaying his contrarian approach
