How did Carlos Slim make his first million?
Carlos Slim was born into a business family but likely made his first million through investments in the Mexican stock market and businesses. He first started working as a stock trader in Mexico in the early 1960s. By the age of 25, he had saved and invested in various businesses.
In the mid-1960s, Slim bought shares in small Mexican companies and used his profits to invest further.
In 1965, he used his earnings to start a brokerage firm called Inversora Bursátil. This company likely helped him make his first million through stock trading and investments.
Slim then expanded into real estate, buying up businesses and properties, especially during economic downturns when prices were low. Carlos’ holding company had stakes in many industries, including airlines, auto parts, minerals, etc.
Image Attribute: José Cruz/ABr, CC BY 3.0 BR https://creativecommons.org/licenses/by/3.0/br/deed.en, via Wikimedia Commons
