1707783631 Slim responds to cronyism criticism 39I don39t see how this

Slim responds to cronyism criticism: 'I don't see how this government has benefited me'

Slim responds to cronyism criticism 39I don39t see how this

After three years of not appearing before the press, Mexican tycoon Carlos Slim has taken to the microphones to defend his business empire and refute that he is the favorite businessman of López Obrador's six-year term. “I don't see what use I have in this government. Of the seven stages of the Mayan Train, we only received the second stage of the Mayan Train and from that stage we did not build the viaduct or the train station,” said the tycoon, who has a fortune of more than $100 billion .

The businessman shared his ideas on how to grow the economy in Mexico. In his opinion, it is crucial to increase the salaries of those who work more than 40 hours a week and increase investments. “Many jobs already work 40 hours, so by law all public servants should leave this minimum wage and those who work 48 hours should increase their salary by 20%,” he said.

Slim assured that López Obrador's government was a transitional government and trusted that the next government will be a consolidation government. When asked about the recent executive reform package, he supported the planned changes to the judiciary.

The magnate used much of his time in front of the press to examine his business origins and defend his investments in Telephones de México (Telmex). He said that Telmex was not a profitable company today and was in the red, but warned that they would not sell the company and that they were still seeking an agreement with unionized workers to reduce labor liabilities. They say it amounts to more than $270 billion after a plan to swap pensioners' liabilities for stocks failed.

The press conference was also a review of his life. He spoke about his beginnings as a professor at the Faculty of Engineering at UNAM and recalled the creation of his first three companies in the 1970s: Jarritos del Sur, Inversora Bursátil, which later became Grupo Financiero Inbursa, and Inmobiliaria Carso. Slim said the financial group started with a capital of $80,000 and has now become one of the most important financial groups in the country.

At the age of 84, the wealth of Mexico's richest man has exceeded the $100 billion mark for the first time. The telecommunications tycoon has taken advantage of the context of the super peso, which has seen the Mexican currency rise by around 14% against the dollar this year. According to the Bloomberg Billionaires Index, Slim earned $27 billion in 2023.

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