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The world’s second richest man, <keyword id="124095" type="PERSON" weightage="80" keywordseo="Carlos-Slim">Carlos Slim</keyword>, was believed to be in India around two weeks back to explore a partnership between his America Movil and Indian business houses with telecom interests.<br />
<br />
America Movil's high-profile chairman, worth $77.1 billion according to Forbes, apparently met Videocon Group Chairman Venugopal Dhoot as well as senior executives of some other mobilephone firms.<br />
<br />
Slim, who is referred to as the 'Warren Buffett of Mexico', was quite optimistic about growth opportunities presented by the Indian telecom market, one of the people aware of talks with top Indian executives told Economic Times.<br />
<br />
Slim, world’s richest man after Bill Gates, is facing still challenges in Mexico, which is why he is now testing water in India and exploring a partnership between his company and Indian firms.<br />
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America Movil, which counts Brazil, the US and Austria as its biggest markets after Mexico, is facing stiff challenges at home. Margins have shrunk to their narrowest since 2013 after a change in law sought to deter a dominant market player, or one that holds more than 50% of the market, from charging competitors for calls on its network.<br />
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Although Slim's business interests range across sectors like telecommunications, education, healthcare, industrial manufacturing, food &amp; beverages, real estate, airlines, media, mining, oil, hospitality, entertainment, technology, retail, sports and financial services, the bedrock of his fortune is telecom.<br />
<br />
When ET contacted over email, an America Movil spokeswoman said, "We do not have any comments at this time on Mr Slim's visit to India." ET had sought details about Slim's visit, his meetings with heads of Indian telecom operators and American Movil's India plans.<br />
<br /> Meanwhile, a top Videocon group executive said that large international telcos looking towards India for growth had evinced an interest to make strategic investments in <keyword id="262458" type="COMPANY" weightage="80" keywordseo="Videocon-Telecom">Videocon Telecom</keyword>.<br />
<br />
But he declined to elaborate on ET's query regarding Slim's meeting with the Videocon Group chairman.<br />
<br />
In January this year, Dhoot had told ET that Videocon's telecom unit had received feelers from a Mexican company as well as an Indian telecom player looking to buy a 49% stake.<br />
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Industry executives told the financial daily Slim also met senior officials of a Mumbai-based telecom company and Bharti Airtel.<br />
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However, an Airtel spokesperson denied the development and rejected the notion that there had been any talk of a likely investment. "We strongly deny these speculations which are completely incorrect, baseless and without an iota of truth," the spokesperson told ET.<br />
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(Image: Reuters)<br />

Is Carlos Slim, world’s second richest man, investing in Indian telecom?

<p><div class="KonaFilter image-container float_right"><div class="image on-image"></div><p></p></div>In 2013, Warren Buffet made an average of <a href="http://www.businessinsider.com/mindblowing-facts-warren-buffett-2014-8?op=1">$37 million</a> - per day.</p>
<p>To put that in perspective for you: Jennifer Lawrence made an estimated <a href="http://www.businessinsider.com/mindblowing-facts-warren-buffett-2014-8?op=1">$34 million</a> - in all of 2013.</p>
<p>Buffett currently has the number three spot on <a href="http://www.forbes.com/billionaires/list/#tab:overall">Forbe's World Billionaires List</a>, with a net worth of $73 billion.</p>
<p>Since "billions" can be hard to grasp, think about this: If Carlos Slim, honorary chairman of America Movil and number two on the billionaires list, combined his wealth with Buffett's, they could <a href="http://www.businessinsider.com/heres-exactly-how-much-wealth-the-worlds-richest-billionaires-have-2015-1">level out the hit Russia's economy took this past fall</a>.</p>
<p>If your mind isn't blown yet, try this tool from penny stock trading site <a href="http://pennystocks.la/warren-buffett/">Penny Stocks Lab</a>. The site's fun <a href="http://pennystocks.la/warren-buffett/">calculator</a> shows how long it took Warren Buffet to earn your annual salary last year.</p>
<p>We decided to try it out for someone earning $100,000 per year.</p>
<p><strong>Here's what it looked like:</strong></p>
<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p>
<p><strong>First, you enter your salary. If you want to get technical about it, you can enter your take-home, after-tax pay. We used an even $100,000 to keep things simple.</strong></p>
<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p>
<p><strong>The calculator then tells you how many minutes or seconds - or hours if your salary is <em>really</em> high - it took for Buffett to earn a whole year's worth of your income. As you can see, it takes him 3.9 minutes to earn $100,000. </strong></p>
<p><strong>We also ran the numbers to see how long it would take Buffett to earn $75,000 (2.9 minutes), $150,000 (5.8 minutes), and $500,000 (19.5 minutes). In an hour, he earns $1.6 million.</strong></p>
<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p>
<p><strong>If your ego isn't crushed enough already, the site provides some additional stats about Buffett's earnings, including the fact that in the time you've spent using this calculator, Buffett has earned hundreds of thousands of dollars.</strong></p>
<p><strong>It ends with a ridiculous list of items Buffett could have afforded to buy with the $13.5 billion he made in 2013. Oh, and that the money you spend on a pint of beer is equal to him dropping a cool $700,000.</strong></p>

Here's How Long It Took Warren Buffett To Earn Your Salary Last Year

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<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Images, AP Images, Reuters</span></p><p class="caption">Jeff Bezos, Bill Gates, and Warren Buffett are the three richest people in the US - and the world.</p></div><p></p></div></div></p><ul class="summary-list"><li>The five richest men in the US are worth a combined $415.4 billion.</li><li><a href="https://www.businessinsider.com/category/amazon" target="_blank" rel="noopener">Amazon</a> CEO <a href="https://www.businessinsider.com/category/jeff-bezos" target="_blank" rel="noopener">Jeff Bezos</a>, the richest man in the world, is <a href="https://www.bloomberg.com/billionaires/profiles/jeffrey-p-bezos/" target="_blank" rel="noopener">worth $135 billion</a>.</li><li>He's followed by <a href="https://www.businessinsider.com/category/bill-gates" target="_blank" rel="noopener">Bill Gates</a>, worth $92 billion, <a href="https://www.businessinsider.com/category/warren-buffett" target="_blank" rel="noopener">Warren Buffett</a> at $81 billion, <a href="https://www.businessinsider.com/category/mark-zuckerberg" target="_blank" rel="noopener">Mark Zuckerberg</a> at $54.7 billion, and <a href="https://www.businessinsider.com/category/larry-page" target="_blank" rel="noopener">Larry Page</a> at $52.7 billion.</li><li>Their combined <a href="https://www.businessinsider.com/category/wealth" target="_blank" rel="noopener">wealth</a> equals more than 2% of the <a href="https://www.businessinsider.com/category/us-economy" target="_blank" rel="noopener">US GDP</a>, which was $20.66 trillion in the third quarter of 2018.</li></ul><p> </p><p>The richest men in the US are worth a mind-boggling combined wealth of $415.4 billion. And all but one of them made their fortunes in the <a href="https://www.businessinsider.com/sai" target="_blank" rel="noopener">tech</a> industry.</p><p>Amazon CEO Jeff Bezos tops the list with a net worth of $135 billion, followed by <a href="https://www.businessinsider.com/category/microsoft" target="_blank" rel="noopener">Microsoft</a> co-founder Bill Gates ($92 billion), investor and <a href="https://www.businessinsider.com/category/berkshire-hathaway" target="_blank" rel="noopener">Berkshire Hathaway</a> chairman Warren Buffett ($81 billion), <a href="https://www.businessinsider.com/category/facebook" target="_blank" rel="noopener">Facebook</a> CEO Mark Zuckerberg ($54.7 billion), and <a href="https://www.businessinsider.com/category/google" target="_blank" rel="noopener">Google</a> co-founder Larry Page ($52.7 billion), according to <a href="https://www.bloomberg.com/billionaires/" target="_blank" rel="noopener">Bloomberg's Billionaires Index</a>.</p><p>Their combined fortune comes out to more than 2% of the <a href="https://www.bea.gov/news/2018/gross-domestic-product-3rd-quarter-2018-third-estimate-corporate-profits-3rd-quarter-2018" target="_blank" rel="noopener">US GDP, which was $20.66 trillion</a> in the third quarter of 2018. (Exactly 2% of $20.66 trillion would be $413.2 billion.)</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Getty Images</span></p><p class="caption">Mark Zuckerberg is the fourth richest person in the US.</p></div><p></p></div></div></p><p>A Business Insider analysis found that for a billionaire, buying <a href="https://www.businessinsider.com/billionaire-value-of-dollar-vs-average-american-2018-2" target="_blank" rel="noopener">a vacation to Bali is the equivalent of a typical American buying a candy bar</a>. And that's based on a net worth of just <span>$2 billion, the <a href="https://www.forbes.com/billionaires/list/" target="_blank" rel="noopener">median fortune of a Forbes list billionaire</a>. </span></p><p>While these five men are the richest in the US, they are not top five the richest in the world. <a href="https://www.businessinsider.com/category/bernard-arnault" target="_blank" rel="noopener">Bernard Arnault</a>, the French businessman who controls <a href="https://www.businessinsider.com/category/lvmh" target="_blank" rel="noopener">LVMH</a> and is worth $69 billion, <a href="https://www.businessinsider.com/category/amancio-ortega" target="_blank" rel="noopener">Amancio Ortega</a>, who controls the world's largest clothing retailer that includes <a href="http://businessinsider.com/category/zara" target="_blank" rel="noopener">Zara</a>, worth $60.1 billion, and <a href="https://www.businessinsider.com/category/carlos-slim" target="_blank" rel="noopener">Carlos Slim</a> of Mexico, worth $57.1 billion, are all currently wealthier than both Zuckerberg and Page.</p><p>While many of the world's richest billionaires live in the US, <a href="https://www.businessinsider.com/new-york-city-hong-kong-billionaires-2018-9" target="_blank" rel="noopener">Hong Kong overtook the US in 2018</a> to become the city with the most super-rich people - individuals worth at least $30 million - people in the world. </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/marie-kondo-on-organizing-your-home-2016-1">Japanese lifestyle guru Marie Kondo explains how to organize your home once and never again</a></h3>        <div>                    </div>    </div>

The 5 richest men in the US have a staggering combined wealth of more than $415 billion - otherwise known as more than 2% of America's GDP

Top 100 richest people in the world

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They leave you in awe with their larger-than-life lifestyles. They live in palatial mansions with glamorous draperies and ostentatious décor. Their cars are epitomes of grandeur and elegance with all possible amenities making life on the go easy, comfortable and luxurious.<br />
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Wherever they go they exude an aura of sophistication, carrying their name and brands with panache. They have their own private jets and yachts, second villas and private islands to go vacationing at any time of the year without prior reservations.<br />
<br /> You would just love to sneak into their bank accounts to get a peek of the stacks of dollars. And yet these <keyword id="6393637" type="PERSON" weightage="20" keywordseo="billionaires">billionaires</keyword> are no strange creatures coming with unmatchable intellect and superhuman characteristics. They have everything just like ordinary men and women do. But what makes them stand out is their ability to manipulate situations in their own favor and get things done in ways as to reap in the highest profits.<br />
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Here are some facts about billionaires which will astound you to the core and which inspire you to learn valuable lessons of life too.<br />
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<strong>Billionaires Love US</strong>: Or should we say, US loves billionaires. Well, it seems so, for this nation has witnessed the largest number of billionaires arising from its soil. From world’s wealthiest man <keyword id="45830" type="PERSON" weightage="20" keywordseo="Bill-Gates">Bill Gates</keyword>, whose very name brings mind billions of dollars piled upon one another in the mind, to the richest lady Christy Walton, you can get a whopping number of billionaires out of the total 1826 residing in the nation alone. Of course, there are other countries as well who follow suit such as Germany, China, Brazil and Russia but none in comparison with the United States.<br />
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<strong>Not All Billionaires Live in Sprawling Palaces:</strong> You must be awed by the magnificent mansion of Bill Gates. But there are billionaires who opt for frugal living. Carlos Slim wished to dwell in the same house for over 40 decades in spite of his exuberant bank balance and Warren Buffet prefers his cozy five-bedroom villa in Omaha to living in a grand mansion.<br />
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<strong>Finest of Wine is their Weakness:</strong> While you must be thinking twice before splurging on a thing of luxury such as wine, which gets over as soon as you consume it, it happens to be a real object of weakness for billionaires. Yes, as much as they love to travel to myriad places around the globe, they love binging and indulging on finest wines to tantalize their taste buds with their sweet or tangy flavors.<br />
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<strong>Do Without a Designer Clothing or a Luxury Object</strong>: While it is natural and habitual for billionaires to keep such objects of luxury such as private jets and don designer clothes, there are quite a few who love to tread the path of simple living. Take the case of Ikea founder Ingvar Kamprad, who prefers to flaunt his simplicity by shunning suits or Carlos Slim who finds solace in not having such fancy luxury toys like private planes simply because they seem burdensome to him.<br />
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<strong>Billionaires have Big Hearts too:</strong> This becomes evident from the fact that most of these personalities with magnanimous and gargantuan bank accounts love to donate instead of hoarding all for their own families. Bill Gates did not think twice before declaring that he would not leave a penny more than 10 million for each one of his children while donating the remaining amount to charity. Young entrepreneur and owner of Facebook <keyword id="6354630" type="PERSON" weightage="20" keywordseo="Mark-Zuckerberg">Mark Zuckerberg</keyword> happily donated the Silicon Valley Community Foundations a whopping $900.<br />
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<strong>Self-Made Women Billionaires are lacking</strong>: Although there are quite a few names among women who have made it big and acquired the tag of being a billionaire, only one among them is truly self-made in the face of the 90 percent of men billionaires who have turned rich by their own clout and infallible strength of mind and luck. Roosalia Mera, the late owner of the top-notch clothing brand Zara was the only woman billionaire to have crossed the 10 million dollar line with her own caliber, in comparison to other names Liliane Bettencourt and Christy Walton both of whom acquired the fortune either from their spouse or their paternal side.<br />
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<strong>Credit Scores Rock</strong>: Now, this is one issue which plagues most individuals today. And believe it or not, billionaires have once again proved themselves different by opting to shun loans even if they have huge business endeavors to commence on or execute.<br />
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<strong>Billionaires are Great Collectors</strong>: Many billionaires have shown their knack in collecting things. And in most cases they are unusual and unthinkable. They can be as sassy as collecting a whole room of Hot Wheels Cars stacked in hundreds of shelves to comic books and to such weird things as collecting beetles in boxes.<br />
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<strong>Home is Where The Hair should be Chopped</strong>: Yes, while you may be thinking that all billionaires take sojourns to plush salons and spas to rejuvenate and get those stylish, pompous haircuts, there are quite a few of them like David Cheriton and John Claudwell who still believe in having the liberty to style up their hair in their own way at their own cozy niche instead of frequenting salons, thus saving up quite a handsome annually.<br />
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<strong>They are Great Investors</strong>: And this is what makes them rich for their lifetime. Billionaires know just when and where and how to invest and they do it with proper planning as to ensure having a relaxed life post retirement as well. Investing helps in consistent increase in their wealth for they know it pays to value the money which they have earned not by mere luck but through hard work, smart decisions and perseverance.<br />
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(Image: Thinkstock)<br />
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<br />

10 facts about billionaires that will astound you to the core

Top 100 richest people in the world: Some interesting facts

<p class="p1"><span class="s1"><div class="KonaFilter image-container float_right click-to-enlarge"><div class="image on-image"><a title_source="Susan Walsh/AP Photo" title_caption="It would take Bill Gates over 200 years to spend all his money." class="zoomin" href="https://static-ssl.businessinsider.com/image/53d6c91a6bb3f774472d9227-960/bill-gates-103.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Susan Walsh/AP Photo</span></p><p class="caption">It would take Bill Gates over 200 years to spend all his money.</p></div><p></p></div>At a spending rate of $1 million a day, most people would blow through their entire life savings in less than a week.</span></p>
<p class="p2"><span style="line-height: 1.5em;">But for billionaire Bill Gates, it would take 218 </span><em style="line-height: 1.5em;">years</em><span style="line-height: 1.5em;"> to spend his approximate $79 billion fortune at this rate, according to <a href="http://policy-practice.oxfam.org.uk/publications/even-it-up-time-to-end-extreme-inequality-333012">new research from Oxfam</a> that was recently highlighted by <a href="http://www.theguardian.com/news/datablog/2014/oct/29/oxfam-report-220-years-richest-man-spend-wealth">The Guardian</a>. That's about <a href="http://www.motortrend.com/new_cars/01/ferrari/">three Ferraris</a> a day. </span></p>
<p class="p2"><span style="line-height: 1.5em;">It would take Mexico's Carlos Slim, the world's richest man, even longer at 220 years. Warren Buffett could get through his fortune slightly faster, but it would still take 169 years to clear his bank account. </span></p>
<p class="p2"><span style="line-height: 1.5em;">While few could keep up with these hypothetical spending patterns, more people than ever can call themselves billionaires these days. In fact, the number of billionaires in the world has more than doubled since the recession, rising from 793 in March 2009 to 1,645 in March 2014, Oxfam reports. </span></p>
<p class="p2"><span style="line-height: 1.5em;">And wealth proves to be the gift that keeps on giving - billionaires average a 5.3% return on wealth, compared to the 1.95% return rate for the ordinary person. This means Gates makes an approximate $11.5 million a day from interest. </span></p>
<p class="p2"><span style="line-height: 1.5em;">When comparing this extreme wealth to those on the other side of the economic spectrum, however, the report found some startling inequalities. Namely, the 85 richest people in the world have a combined net worth equal to the poorest half of the entire global population. </span></p>
<p class="p2"><span style="line-height: 1.5em;">But Gates and Buffett aren't looking for ways to idly blow cash. Rather, both billionaires are known for their charitable ways. Gates runs the <a href="http://www.gatesfoundation.org/">Bill &amp; Melinda Gates Foundation</a>, which received nearly <a href="http://www.forbes.com/sites/alexmorrell/2014/07/15/buffett-donates-2-8-billion-breaks-personal-giving-record/">$3 billion from Buffett</a> alone in 2014. </span></p>

It Would Take Bill Gates 218 Years To Spend All His Money

<p><div class="image-container" style="width:900px"><div class="image"></div><p class="source">Thos Robinson/Stringer</p></div></p>
<p>Forbes is out <a href="http://www.forbes.com/billionaires/?utm_campaign=forbestwittersf&amp;utm_source=twitter&amp;utm_medium=social">with its new billionaires list</a>.</p>
<p>Here's the Top 10. Once again, Mexican telecom magnate Carlos Slim Helu is #1.</p>
<p><table class="image-container" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://www.forbes.com/billionaires/?utm_campaign=forbestwittersf&amp;utm_source=twitter&amp;utm_medium=social">Forbes</a></p></td></tr></table></p>
<p>Below the dotted line is the full press release from Forbes PR:</p>
<p>--------------------------------------------------------------------------------------------------------------------</p>
<p><div class="image-container float_right" style="width:400px"><div class="image"></div><p class="source"><a href="http://www.flickr.com/photos/22191301@N00/178633669/">trackrecord / Flickr</a></p></div>New York, NY (March 4, 2013) – Carlos Slim Helú (#1) is the world’s richest person on Forbes’ 27th annual ranking of the world’s <keyword id="6393637" type="PERSON" weightage="60" keywordseo="billionaires">billionaires</keyword>. With a net worth of $73 billion, up from $69 billion in 2012, the telecom magnate from Mexico tops the list for the fourth year in a row. Bill Gates retains the #2 spot with a net worth of $67 billion. Zara’s Amancio Ortega (#3) moves up two spots from 2012, with a net worth of $57 billion, ahead of Warren Buffett (#4) with a net worth of $53.5 billion. This marks the first year Buffett has not been in the Top 3 since 2000, in spite of being the second biggest gainer this year, up $9.5 billion. </p>
<p>Rebounding equity markets and strong consumer brands drove a huge number of newcomers into the billionaire ranks.  This year 210 billionaires are new to the list, while 60 dropped off (still more died or split their fortunes with a family).  A record 1,426 billionaires (up 200 from 1,226 in 2012) made the list, with an average net worth of $3.8 billion (up from $3.7 billion in 2012).  Added together, the total net worth for this year’s billionaires is $5.4 trillion, up from $4.6 trillion last year.  The U.S. leads the list, with 442 billionaires, followed by Asia-Pacific (386), Europe (366), The Americas (129) and the Middle East &amp; Africa (103).    </p>
<p>A total 138 women made the list this year, an increase of 34. With a net worth of $30 billion, Liliane Bettencourt (# 9) is now the richest woman in the world. Other women on the list include Miuccia Prada (# 78) of Italy, Anne Cox Chambers (#80) of the U.S., and new to the list, Margarita Louis-Dreyfus (#198) of Switzerland, with net worths of $12.4 billion, $12 billion and $6 billion, respectively.    </p>
<p>Notable newcomers include: Singapore real estate magnates Robert &amp; Philip Ng (#108), worth $10.1 billion; Diesel jeans mogul Renzo Rosso (#458), worth $3 billion; Hermes’ Nicolas Puech (#704) worth $2.1 billion; GoPro’s Nicholas Woodman (#1107), with a net worth of $1.3 billion, retailer  Bruce Nordstrom (#1175), worth $1.2 billion, fashion designer Tory Burch (#1342) and former business partner and ex-husband Christopher Burch (#1342), each with a net worth of $1 billion, and American filmmaker Ryan Kavanaugh (#1342) also with a net worth of $1 billion.    </p>
<p>Amancio Ortega is the world’s biggest gainer in dollar terms, adding $19.5 billion to his net worth. Another gainer: New York Mayor Michael Bloomberg (#13), who moves up from the No. 20 spot last year with a net worth of $27 billion (an increase of $5 billion from 2012).  The year’s biggest loser, with a $19.4 billion drop in his fortune, is Brazilian Eike Batista (#100). Mark Zuckerberg (#66) has a net worth of $13.3 billion, compared to $17.5 billion in 2012, when he ranked #35.    </p>
<p><table class="image-container float_right" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://www.flickr.com/photos/fortunelivemedia/7598558634/sizes/l/in/photostream/">Fortune Live Media / flickr</a></p></td></tr></table>Notable drop-offs include Zynga’s Mark Pincus, former Chesapeake Energy CEO Aubrey McClendon, Alex Lebedev.   The Top 10 have a combined net worth of $451.5 billion, up from $395.4 billion in 2012:</p>
<p><a href="http://www.forbes.com/billionaires/?utm_campaign=forbestwittersf&amp;utm_source=twitter&amp;utm_medium=social"><strong>Check out the full Forbes list here &gt;</strong></a></p>

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