4 5 1 4 1 2 1 . Carlos Slim, center, arriving for a meeting in Nicaragua last year. More than half of his cellphone company’s sales now come from outside Mexico. MEXICO CITY — All is not well in the kingdom of Carlos Slim. For more than 25 years, he has dictated the terms of Mexico’s telecommunications industry and built an empire, making him one of the world’s richest men. Slim how Did Carlos Slim Helu Make His Money his family are billionaires 50 times over.
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He has stood at the very top of the Forbes World’s Billionaires list — more than once. But at home in Mexico, the game is changing. And there is not much he can do about it, analysts say. Determined to bring his dominance to an end, leaders from Mexico’s three biggest political parties have put aside their own animosities in recent years, meeting in secret sessions to chip away at Mr. Now, the plan they concocted to increase competition in the telecommunications industry, signed into law two years ago, is starting to bite. Slim’s flagship company, América Móvil, are in steep decline, falling 24 percent in 2015 and almost 44 percent in the first six months of this year, compared with the year-earlier periods. A closely watched metric of profitability on Wall Street has also fallen, and the company’s stock has dropped by 39 percent in the past year.
In its quarterly report last month, the company acknowledged that increased competition was crimping profits in Mexico. Under the new law, it must submit to special rules as the dominant phone company. Ernesto Piedras, the director general of the Competitive Intelligence Unit, a consulting and research firm. This is the first time Slim does not have a copy of all the keys. Regulators in Mexico, sometimes against their government’s wishes, had tried for decades to rein in Mr. Slim’s dominance, finding themselves thwarted at every turn. 13 billion a year between 2005 and 2009, according to the Organization for Economic Cooperation and Development.
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