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Billionaires Say the Darndest Things

"I am convinced that the private sector needs to give support, not money, because that goes to charity, and charity has hundreds of years and has not solved poverty." - Carlos Slim Helú

Carlos Slim was named the World’s Richest Man by Forbes magazine for the third consecutive year today. And, like clockwork, came the stories published earlier this week of Slim investing  in Mexico.

Slim has made a habit of dismissing charity, but it may have something to do with the fact that he gives so little.

In comparison to Bill Gates and Warren BuffetSlim has given very few cash grants to non-profits and other charitable organizations, preferring instead to offer programs (such as the one mentioned in this video) that help promote one of his many enterprises. Experts cite Slim’s relatively small amount in charitable givings as the very reason he’s maintained his spot as the world’s richest man.

For Mexicans, there’s nothing to be proud of with Carlos Slim. His enormous wealth represents Mexico’s gross inequality, both social and economic. For Mexico to meet its potential as a country, Carlos Slims’ monopolies need to busted and allowed to compete in a more open market.

Bonus: Don’t miss the “you know, poor Mexicans who may not have access to computers” line from interviewer Kerry Dolan of Forbes magazine.