carlos slim yachts

Mexico’s Newest Billionaire Escape You’ve Never Heard About

La Paz is not a made-for-Americans tourist destination, but a real city, that’s quickly attracting billionaire residents with its surreal turquoise waters, sweeping views and abundant marine wildlife.

Costa Baja. Photo courtesy of Puerta Cortés

Since the 1940s, Baja California has been a quiet draw for literary giants, Hollywood royalty and art superstars, including John Steinbeck, Ernest Hemingway, Desi Arnaz, Lucille Ball, Bing Crosby and John Wayne. American artist Donald Judd credits Baja as the source of his creative inspiration.

The 775-mile-long Mexican peninsula, extending south from San Diego , culminates in its most famous city, Cabo San Lucas. Surprisingly mountainous, the few main highways weave through the valleys. Long stretches of eastern beaches are inaccessible.

Mostly Sonoran Desert, verdant oases create respites from the endless cacti.  

Bumping up against these desert shores is the open Pacific on the west and the fabled Sea of Cortez on the east. Jacques Cousteau called the latter, “the aquarium of the world.” Home to 891 fish species and 39 percent of the world’s marine mammal species, it’s no wonder the United Nations has designated the sea a protected area. Mexico agrees and has a comprehensive program to safeguard the whales, whale sharks, porpoises, sea lions and other marine residents.

[metaslider id=”81402″]

The most popular Baja destination is Cabo San Lucas, which, unfortunately, is a sea of cement, best known for plentiful margaritas, bachelorette parties and mall-style shopping .

The strip of condos and high-end resorts to the east, known as “the Corridor,” is much tonier. Residences here fetch in the multimillions. In the legendary Palmilla Resort , homes routinely sell for $20 million, a bargain compared to the $50 million George Clooney listed his Cabo home for.

A two hour drive north, centered around Baja’s capital city of La Paz, a different world exists. Billionaires who could live anywhere have quietly settled here. Christy Walton (widow of Walmart heir John Walton), Rodney Lewis (Texas energy entrepreneur), Manuel Arango (Mexican supermarket magnate), John Hargreaves (founder of British department store chain, Matalan) and not-quite-billionaires—like entrepreneur Jeffrey Curtiss, who built both a 24-unit seafront resort and a 1,000-acre working ranch complete with ostriches—now call it home.

Why? Because La Paz is a real city, not a made-for-Americans tourist destination. Yet, it feels completely safe and is free from the constant annoyance Cabo presents of hawkers pushing everything from glass-bottom boat excursions to serapes or camel rides.

The newly renovated three-mile-long, seafront promenade, Malecon, is alive with local families yet easy to navigate while in search of the perfect artisanal ice cream shop with local favorites, such as cactus pear sorbet.

The town, historic buildings intermingled with post-modern ones, is clearly under renovation. Government and private structures are getting facelifts using funds pouring in from a variety of sources, including wealthy Mexican second home buyers and ex-pat Americans and Brits. Yet, La Paz is currently a third of the price of Cabo.

In anticipation of the new sophistication flowing into La Paz, chic restaurants, like Bestia , are changing the dining scene with their “Tribeca style” décor and internationally inspired food.

Sensing the growth potential, boutique, high-end American real estate brokers, such as The Agency , have recently opened offices.

A few minutes south of La Paz is a mega-yacht center. Steven Spielberg’s Seven Seas , Laurene Powell Jobs ’ Venus (designed by Philippe Starck) and Ostar , the yacht of Mexico’s richest man Carlos Slim, all spend significant amounts of time at the Puerta Cortés Resort’s marina, Pueblito. All told, some of the world’s largest yachts have visited. Asked why they keep coming, a knowledgeable real estate source said, “They love the privacy. They can walk around unnoticed.”

The inner and outer harbor also has 250 slips for “normal” sized boats. Cruisers from the U.S. West Coast often stay over the winter months.

For those more terra-firma inclined, or without a mega-yacht at their disposal, the Puerta Cortés Resort , the only five-star lodging in La Paz, is a self-contained world.   Spread over 200-plus acres, the resort offers an extensive selection of sea-view accommodations plus four pools (one of which is a seaside infinity pool, double Olympic length, where floating pelicans keep swimmers company), three gyms, a beach club with water toys and spa services, as well as a hilltop lounge ideal for cocktails while sunset viewing. Golf carts whisk guests between the extensive facilities.

“I came to Puerta Cortés for my honeymoon and, much to my surprise, fell in love with this place,” explains Antonio Davila, the resort’s owner. “Within a few years, I bought the resort and moved my family here.” Since then, he’s proved his devotion by upgrading everything.

Puerta Cortés has several housing options. For those needing nothing more than a hip hotel room, Costa Baja with its two swimming pools and two dining rooms is the logical choice. Rooms range from standards to waterfront suites with kitchens.

A little up the hill is the semi-circular Vistamar. These ultra-high-end condos, meticulously finished and furnished, start at 2,600-square-feet, including massive water-view terraces. Vistamar has a well-equipped gym, large infinity pool and spacious common areas.  

Further up the hill, Las Colinas is a collection of 72 private villas, ranging from two to five bedrooms. It is ideal for families and those wanting privacy.

If golf is your game , the El Cortés course, with its sweeping ocean views, draws some of the world’s top players. According to golf pro Greg Martin, “ Gary Player’s courses are known to be challenging, and this one with its wide and narrow, up and down features, stretching over four miles is exceptionally unforgiving.” On the 14th hole, one of the longest par fives in Mexico, players tee off from an elevated cliff.

Overseeing the food, executive chef Christian Morales was trained in Spain by Martín Berasategui (who has more Michelin stars than any other Spanish chef). Morales supervises the 10 dining options, a few of which include: Baja coffee institution Doce Cuarenta, open-kitchen restaurant Steinbeck’s, La Taberna Española and Odayaka, serving luminescent sushi taken moments before from adjacent waters.

Morales is committed to showcasing Baja’s locally farmed produce, renowned free-range beef and plentiful fish.

Best of all, Puerta Cortés is an ideal access point for viewing the Sea of Cortez’s abundant marine life. From its docks, several licensed companies, like BACo , run marine biologist-led tours, where it’s possible to swim right next to 30-feet-long, multi-ton, yet docile, whale sharks and diminutive, playful sea lions, view breeching whales and visit an island reserved for blue herons. Swimming up close and personal with whale sharks is one of life’s unforgettably unique experiences.

When you’re tired of all the wildlife, it’s a short hop to silky sanded Balandra Beach , where the desert meets the sea. Accessible only by boat, the almost surreal turquoise blue water is clear, calm and warm. No services are available to disrupt the serenity, but catered picnic lunches are easily arranged.

Davila intends to use Puerta Cortés as a conduit for introducing guests to the Sea of Cortez. “Anyone who visits, who goes out on the water, falls in love with this place. My job is to create a destination that draws people here.”

Share this on:

About the Author

By jonathan russo.

Jonathan Russo was in the advertising and entertainment industry for 40 years in New York and Los Angeles. Over a decade ago, he began writing about his longstanding interest in foreign affairs, with an emphasis on China and the Mid-East. He also writes about economics, domestic politics and cultural issues. His work has appeared in The Huffington Post, The Observer, Times of Israel and The N.Y. Daily News. Many of his articles have been republished in Real Clear Markets and Real Clear World.

View Profile

By Deborah Grayson

Deborah Grayson holds Masters degrees in Clinical Nutrition and Public Health from NYU and CUNY.  She worked for decades for a NYC home hospice, and is now co-chair of their ethics committee.  She has written about sustainable agriculture, food, wine and travel.

Related Content

Discovering Boston’s Quiet, Luxurious Heart

Finding serenity, luxury, and surprising greenery is common in the heart of Boston.

By Kirsten Cluthe

Why Lake Nona for Techonomy 23

Techonomy's annual gathering takes on AI's transformative role, and Lake Nona offers the perfect tech-savvy backdrop.

By Payton Turkeltaub

Discover Charleston’s Heartbeat Through the Dewberry

The Dewberry's unique mid-century property and location offer Charleston visitors the chance to explore the city's heartbeat.

By Michael Levin

U.S. Mayors Focus on Problem Solving, Not Culture Wars

Regardless of resource limitations, mayors are expected to provide tangible solutions for daily problems.

By Jeffrey Sonnenfeld

Newsletter Subscriptions

Sign up for our newsletters.

" * " indicates required fields

Business & Finance  

Partner Content

Communities

Leading advisors.

Women & Worth

Magazine & Digital Edition

Newsletters

Leading Advisors Directory

Worth Advisor Programs

Become a Leading Advisor

Contributors

Partnerships

Reprints & Permissions

2023 Worth Media Group. All rights reserved.

Start typing and press enter to search

Catch up locals' news in English

The Mexican millionaires who arrived in Seville on their 125 million yacht to see the processions

2022-04-17T08:59:01.614Z

Holy Week in Seville has returned in all its splendor after the pandemic, and also with countless celebrities, businessmen and personalities from all over the world. Among them, the...

Week in Seville

has returned in all its splendor after the pandemic, and also with countless celebrities, businessmen and personalities from all over the world.

Among them, the Mexican businessman

Ricardo Salinas Pliego

(66), who arrived on the afternoon of

Holy Thursday

with his wife,

María Laura Medina

, and other couple friends aboard his new yacht, the

'Lady Moura'

, from of Marbella.

It is not the first time that

sets foot in Seville.

In 2012 and 2014, his yacht 'Azteca' docked at the Seville dock.

The businessman wanted to get to know the

, and to celebrate his stay he held a party attended by various well-known faces and part of the most relevant Sevillian society.

On this occasion, Salinas wanted to be at

Shortly after their new boat docked in the Andalusian capital, the group headed to Triana, with the intention of having dinner and seeing the departure of the Esperanza de Triana brotherhood.

The place chosen was the

La Casa de María

restaurant , one of the leading restaurants in the city, from where you can see the Guadalquivir and the Plaza del Altozano and the Triana bridge, where the brotherhood runs, key points on its route.

The next day (

Good Friday

) they went out for a walk around the city, and the idea they had was to have

flamenco on the boat

However, friends from Seville explained the traditions to them: gentlemen must wear a suit jacket and you cannot wear a red tie;

ladies must wear black.

And you can't have parties.

Because the city is mourning the death of Jesus Christ.

His new yacht is the 'Lady Moura'.ANA GARCÍA ROMERO

They were surprised, but on their journey through

that day, they complied with the rules.

Of course, they say that the host couple and their guests, when they returned to the ship,

ended the evening at dawn

, with some flamenco in private, with no one but them and their Mexican guests.

Because the visit of the Mexican tycoon has been most discreet.

The only thing that has attracted attention has been

the spectacular yacht moored in the Guadalquivir

Who has not investigated, has not found out that Salinas has been in Seville.

Although the businessman already knows Seville, the couple dedicated Saturday noon to visiting the most touristic area to show it to their companions.

La Giralda, the Cathedral, Santa Cruz neighborhood and lunch in the area.

In mid-afternoon Salinas returned to the ship;

meanwhile, María Laura and her friends, all dressed in black, and again in Triana, saw the Cachorro and La O processions, also taking advantage of part of the day to go for a bike ride around the city and visit the Plaza de Spain.

Surrounded by

strict security measures

: no one spoke or gave details about the marriage or the ship or the duration of their stay in the city.

While on board some people were lying in the sun, there was movement on the pier.

Four wide vehicles with tinted windows came and went.

His job is to take and pick up the group, waiting for orders and carrying out all kinds of assignments.

On a previous visit, they asked for shawls and flamenco dresses to be found for them.

All this while the crew finalized details for his departure, scheduled for this

Easter Sunday

, since, in principle, this year he will not return for the Fair.

A crew that only has free time when their boss is not on board, according to some sources.

Ricardo Salinas

is in third place among the largest fortunes in Mexico, behind

Carlos Slim and Germán Larrea Mota Velasco

Salinas is president of Grupo Salinas, which includes Grupo Elektra, Banco Azteca and TV Azteca, which includes a media conglomerate and is the second largest generator of content in Spanish.

Grupo Elektra

, it is a leading specialized trade and financial services company in Latin America, and the largest provider of short-term non-bank loans in the United States.

It has two businesses in its management model, the commercial one (electronics, appliances, appliances, furniture, motorcycles...) and the financial one (deposits, micro-financing, life insurance, funds, investments...).

was the one who took the reins of the business created by his great-grandfather at the beginning of the 20th century and who managed to internationalize it and place it at the high level it enjoys today.

The businessman, born in Mexico City, has four brothers and is remarried to María

Laura Medina

, whom he married in 2001 and with whom he has three children,

Mariano and Cristóbal.

It was a discreet, civil wedding with few guests from the couple's closest circle.

María Laura

, born in Guadalajara (Mexico), is an interior designer, although she began her working life in Mexico City working at TV Azteca as a sales director.

It was there that the couple met.

has three other children from his first marriage to

Ninfa Sada Garza,

Ninfa, Benjamín and Hugo.

is dedicated to politics;

Benjamin works at TV Azteca and Hugo has his own companies in addition to being part of the Grupo Elektra board of directors.

is one of the fifteen most expensive and luxurious private yachts in the world, valued at almost 200 million euros, although the Mexican bought it last year for about 125 million from its previous owner, the Saudi tycoon Nasser Al -Rashid.

The letters of its name are prominent, and are made of

gold , both those located on the sides and those on the stern and the shield that accompanies them.

The yacht, with the flag of the Bahamas, also has a heliport, spa, casino, elevator, cinema, party room, swimming pool with retractable roof, beach club, lounges, dining rooms, air conditioning and a beauty salon.

She has the capacity to accommodate 27 guests in 13 cabins and a crew of 71 people.

The yacht has four levels, measures 104.85 meters in length and reaches a maximum speed of 22 knots.

She was built in 1990 by Blohm + Voss, in Hamburg, and entirely designed by Luigi Sturchio, being last refitted in 2020.

Conforms to The Trust Project criteria

Holy Week Seville

Source: elmuldo

All news articles on 2022-04-17

You may like

© Communities 2019 - Privacy

• Search Search Please fill out this field.

Investments in Corporations

Real estate, planes and automobiles, collectibles, transfers to his children, philanthropy, the bottom line.

• Business Leaders
• Rich & Powerful

Where Does Carlos Slim Keep His Money?

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University.

Carlos Slim Helú is a huge success story. The entrepreneur, whose Lebanese parents emigrated to Mexico in 1902, made a fortune from big bets on undervalued assets and Mexico's privatization drive in the late 1980s and 1990s. Today, he owns numerous assets. His business empire covers various sectors, from department stores, restaurants, and telecoms to construction, real estate, mining, and petroleum. As of Feb. 20, 2024, Slim has a net worth of $102.2 billion.

Most of Slim's money is tied up in investments, including stock, collectibles, and real estate. He is not into living lavishly and prefers his fortune to grow.

Key Takeaways

• Carlos Slim has a net worth of about $100 billion.
• Most of his money is tied up in investments, including stock, collectibles, and real estate.
• Slim doesn't like spending money on lavish living and has a frugal lifestyle.
• Carlos Slim's main source of wealth is the telecom giant América Móvil.

Slim controls many companies through Grupo Carso , the conglomerate he and his family own a 79% stake in. The name "Carso" stands for Carlos Slim and Soumaya Domit de Slim, his late wife.

Carso's empire spans several sectors, including retail, infrastructure and construction, energy, and telecommunications. If you live in Mexico, it's likely you're using one of Slim's services. Carso dominates across many sectors. That and lots of acquisitions have significantly boosted revenue and caught the attention of investors. The conglomerate's share price has risen 116% over the past five years, giving it a market capitalization, as of Feb. 20, 2024, of 341.80 billion Mexican pesos ($20.02 billion).

Slim also owns other companies, including América Móvil . The telecom giant is perhaps his defining investment and the source of a large chunk of his fortune.

Slim's MO is to buy troubled or underappreciated assets for cheap, fix them, and then flip them for a big profit.

Slim's parents made their fortune in real estate, buying top property in Mexico City for cheap during the Mexican Revolution. Their son followed this tradition of investing in property.

In Mexico, he owns over 20 shopping centers, including 10 in Mexico City, and operates stores in the country under U.S. brands including Saks Fifth Avenue, Sears, and the Coffee Factory.

He also owns a lot property in the U.S. As with his other investments, Slim aims to buy cheap and sell high.

In 2010, Slim purchased the Duke Semans mansion (also known as the Benjamin N. and Sarah Duke House) on Fifth Avenue in New York City, one of the largest private residences in all of Manhattan. Paying a reported $44 million for the property, it boasts over 19,000 square feet, has eight floors, and includes 14 bathrooms and 12 bedrooms.

In 2015, Slim tried to sell the mansion, which is included in the National Register of Historic Places, for $80 million, nearly twice the amount he paid just five years prior. He relisted it at $80 million again in January 2023.

Slim also bought the Marquette building in Detriot in 2015 and sold it a few years later at a big profit.

Carlos Slim has often been described as frugal and not interested in living a lavish lifestyle. While many of his peers splash out on luxury yachts, mansions, and private jets, Slim is said to be more low profile. He has lived in the same house for 40 years.

Over the years, he has made the odd luxury purchase, though. For example, in 2012 he was said to own a rare Bentley Continental Flying Spur, a powerful luxury sedan.

Slim used to have a 17% stake in The New York Times .

Slim's late wife was an avid art collector, and he built the Museo Soumaya in her honor. It houses over 60,000 works of art, including the largest collection of Rodin art outside of France, as well as a host of masterpieces by Renoir, Picasso, Van Gogh, Monet, and Dali, just to name a few.

Carlos Slim spent around $34 million to build the museum, which was designed by architect Fernando Romero. This is also where he keeps his collection of rare coins, historical documents, and religious relics. The artwork and artifacts inside are reportedly worth almost a billion dollars.

Carlos Slim has allocated chunks of his business empire to his three sons and three daughters. Rather than simply handing his children cash, he is carving up and giving control of his businesses to them to run. Because Slim is in his 80s, this sort of estate planning ensures that his companies and wealth will continue to grow even after his death.

Carlos Slim is known to give money to charitable causes.

Fundación Carlos Slim, Slim's namesake charitable organization, focuses on philanthropy throughout Mexico and Latin America. It was created in 1986 and aims to help people of all ages "actively participate in economic and social development" and "achieve more opportunities and a better quality of life."

From 1996 to 2023, the foundation claims to have helped thousands of people get an education, receive medical help, achieve social justice, partake in sports, and survive natural disasters. From 2006 to 2019 alone, it was reported that Slim donated over $4 billion to the foundation. Most of these proceeds were said to come from dividends he collected from his investments.

Who Are the Richest People in Mexico?

As of Feb. 20, 2024, Carlos Slim is the richest with a net worth of $102. billion. In second place is Germán Larrea Mota Velasco, CEO of Grupo México (Mexico's largest mining corporation), with a net worth of $28.1 billion. And in third place is Ricardo Salinas Pliego, the founder and chairman of Grupo Salinas, who has a net worth of $13.6 billion.

How Much Money Did Carlos Slim Lose?

Carlos Slim's net worth has fluctuated over the years. The most notable drop in recent years was in 2016. During that year, America Movil stock dropped nearly 35%, due to new Mexican telecom regulations and a weaker Mexican peso.

What Is Carlos Slim's Heritage?

Carlos Slim was born in Mexico and is the son of Lebanese immigrants.

For Carlos Slim Helú, savvy investing in a diversified portfolio of financial assets, real estate, and collectibles helps ensure that his wealth will continue to grow. But beyond that, his philanthropic mission to donate much of his wealth to help better his home country of Mexico and Latin America may be his biggest investment and certainly a lasting legacy.

Forbes. " Carlos Slim Helu & Family ."

Grupo Carso. " History ."

Google Finance. " Grupo Carso SAB de CV ."

Britannica. " Carlos Slim Helú ."

Forbes. " Billionaire Carlos Slim Listing Fifth Ave Mansion For $80 Million, Almost Two Times What He Paid ."

Mansion Global. " Billionaire Carlos Slim’s New York City Megamansion Back on the Market for $80 Million ."

Forbes. " Carlos Slim's Real Estate Shopping Spree: PepsiCo's NY State HQ and Iconic Building in Detroit ."

HistoricDetroit.org. " Marquette Building ."

LinkedIn. " What Makes Carlos Slim Successful? "

Business Insider. " Check Out the Cars Driven by the World's Richest People ."

The New York Times T Magazine. " Now Dazzling | Museo Soumaya in Mexico City ."

Museo Soumaya. " About Us ."

Bloomberg. " Slim Unveils $34 Million Museum With Fine Art, Free Admission ."

The Telegraph. " Carlos Slim: At home With the World's Richest Man ."

Forbes. " Mexican Billionaire Carlos Slim Is Quietly Transferring Assets to His Children ."

Carlosslim.com. " Social Activity ."

Forbes. " From Azim Premji to Carlos Slim: The World's Most Generous Billionaires Outside of the U.S. "

Forbes. " Real-Time Billionaires ."

Forbes. " Mexico's Carlos Slim Helu Lost $3.4 Billion After America Movil Stock Drop ."

• Terms of Service
• Editorial Policy
• Privacy Policy
• Your Privacy Choices

• Work & Careers
• Life & Arts

Become an FT subscriber

Limited time offer save up to 40% on standard digital.

• Global news & analysis
• Expert opinion
• Special features
• FirstFT newsletter
• Videos & Podcasts
• Android & iOS app
• FT Edit app
• 10 gift articles per month

Explore more offers.

Standard digital.

• FT Digital Edition

Premium Digital

Print + premium digital.

Then $75 per month. Complete digital access to quality FT journalism on any device. Cancel anytime during your trial.

• 10 additional gift articles per month
• Global news & analysis
• Exclusive FT analysis
• Videos & Podcasts
• FT App on Android & iOS
• Everything in Standard Digital
• Premium newsletters
• Weekday Print Edition

Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.

• Everything in Print
• Everything in Premium Digital

The new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.

Terms & Conditions apply

Explore our full range of subscriptions.

Why the ft.

See why over a million readers pay to read the Financial Times.

International Edition

Take a look at the life of Carlos Slim, who has lived in the same house for 40 years

• Carlos Slim  is the richest person in Mexico, worth an estimated $43.6 billion, according to Bloomberg’s Billionaires Index.
• The 80-year-old Mexican billionaire controls America Movil, the largest mobile-phone operator in Latin America, and holds stakes in several other publicly traded companies, including The New York Times.
• Slim also owns  Sears Mexico, which has been growing and opening up new stores  despite the chain filing for bankruptcy in the US.
• Slim lives a surprisingly frugal lifestyle for a billionaire: He doesn’t own any yachts or planes and  he’s lived in the same house for more than 40 years.

Carlos Slim Helu — Mexico’s wealthiest man — is  one of the richest self-made billionaires in the world .

Slim’s influence is far-reaching in Mexico and abroad. Bloomberg estimates Slim’s  net worth to be at least $44 billion , but  he could be worth as much as $51 billion , according to Forbes. – ADVERTISEMENT -https://s.yimg.com/rq/darla/4-4-1/html/r-sf-flx.html

But, considering he’s involved in  hundreds of companies in Mexico , which is also known as “Slimlandia,” Slim flies under the radar more than you might expect. 

Despite his wealth, Slim lives a relatively frugal lifestyle; he’s lived in the same six-bedroom house for more than 40 years.

Here’s a look at Slim’s life and massive business empire. 

Christi Danner contributed to an earlier version of this article.

Carlos Slim is worth at least $43.6 billion, making him the richest person in Mexico.

Joe Raedle/Getty Images

He’s among the 25 richest people in the world.

Bloomberg’s Billionaire Index  ranks him at No. 24 with an estimated net worth of $43.6 billion, while  Forbes  put him at No. 21 with an estimated net worth of $51 billion.

In 2016, Slim ranked as the fifth-richest person in the world, but his fortune has taken a major hit over the past few years.

REUTERS/Edgard Garrido

Right after Donald Trump’s election in November 2016, global markets contracted and the Mexican peso’s value fell to a record low, causing  Slim to lose more than 9% of his wealth , according to Money magazine.

CLICK HERE FOR FULL ARTICLE ON YAHOO LIFESTYLE

Yucatan Times

Mexico wants to pay us water debt, stay out of us election, mexico is sending 100 firefighters to central california to help fight the sqf complex fires, you may also like, lgbt+ community of mérida presents ‘inclusive way of the cross’, meet aaron taylor-johnson, the next james bond, texas issues a commemorative coin for the 2024 solar eclipse, kings of sweden end their visit to yucatan touring the great museum of the..., maya indigenous elementary school students presented their work at the filey, yucatecan artist creates a hyperrealistic sculpture of jesuschrist.

Hello Mr.Carlos Slim Helu I am In north Macedonia Can you help me? If you want to help me my email iss sadiku.sami@ icloud.com Thank you.

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Our Company

Lorem ipsum dolor sit amet, consect etur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis.

• 01 Central Park, US, New York City
• Phone: (012) 345 6789
• Email: [email protected]
• Support: [email protected]

About Links

• Advertise With Us
• Media Relations
• Corporate Information
• Apps & Products

Useful Links

• Privacy Policy
• Terms of Use
• Closed Captioning Policy
• Accessibility Statement
• Personal Information
• Data Tracking
• Register New Account

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

Keep me signed in until I sign out

Forgot your password?

A new password will be emailed to you.

Have received a new password? Login here

Are you sure want to unlock this post?

Are you sure want to cancel subscription.

• Insider Reviews
• Tech Buying Guides
• Personal Finance
• Insider Explainers
• Sustainability
• United States
• International
• Deutschland & Österreich
• South Africa

• Home ›
• Life ›
• news »

Mexico's richest man lives a surprisingly frugal life for a billionaire. Take a look at the life of Carlos Slim, who owns Sears Mexico and has lived in the same house for 40 years.

Carlos Slim is the wealthiest man in Mexico by far.Cario Lopez-Mills/ AP

• Carlos Slim is the richest person in Mexico, worth an estimated $43.6 billion, according to Bloomberg's Billionaires Index.
• The 80-year-old Mexican billionaire controls America Movil, the largest mobile-phone operator in Latin America, and holds stakes in several other publicly traded companies, including The New York Times.
• Slim also owns Sears Mexico, which has been growing and opening up new stores despite the chain filing for bankruptcy in the US.
• Slim lives a surprisingly frugal lifestyle for a billionaire: He doesn't own any yachts or planes and he's lived in the same house for more than 40 years.

Carlos Slim Helu — Mexico's wealthiest man — is one of the richest self-made billionaires in the world .

Slim's influence is far-reaching in Mexico and abroad. Bloomberg estimates Slim's net worth to be at least $44 billion , but he could be worth as much as $51 billion , according to Forbes.

But, considering he's involved in hundreds of companies in Mexico , which is also known as "Slimlandia," Slim flies under the radar more than you might expect.

Despite his wealth, Slim lives a relatively frugal lifestyle; he's lived in the same six-bedroom house for more than 40 years.

Here's a look at Slim's life and massive business empire.

Christi Danner contributed to an earlier version of this article.

Carlos Slim is worth at least $43.6 billion, making him the richest person in Mexico.

He's among the 25 richest people in the world.

Bloomberg's Billionaire Index ranks him at No. 24 with an estimated net worth of $43.6 billion, while Forbes put him at No. 21 with an estimated net worth of $51 billion.

In 2016, Slim ranked as the fifth-richest person in the world, but his fortune has taken a major hit over the past few years.

Right after Donald Trump's election in November 2016, global markets contracted and the Mexican peso's value fell to a record low, causing Slim to lose more than 9% of his wealth , according to Money magazine.

And in March 2017, Bloomberg reported that no other billionaire had lost more money than Slim during Trump's presidency, which the publication attributed partially to the president's "tough talk" on Mexico.

The coronavirus pandemic has taken yet another toll on the Mexican billionaire's wealth. In early March, he lost nearly $5 billion in a single day on "Black Monday," which was a day of major market losses due to growing global concerns about the coronavirus.

And in March 2017, Bloomberg reported that no other billionaire had lost more money than Slim during Trump's presidency, which the publication attributed partially to the president's tough talk on Mexico.

The coronavirus pandemic has taken yet another toll on the Mexican billionaire's wealth. In early March, he lost nearly $5 billion in a single day on Black Monday, which was a day of major market losses due to growing global concerns about the coronavirus.

Most of Slim's wealth comes from his 57% stake in America Movil, the biggest mobile-phone operator in Latin America.

The company reported revenue of $52 billion in 2019.

He also has holdings in banking and mining, as well as interests in the construction industry in Mexico.

These interests are controlled through the family business : infrastructure, construction, and energy conglomerate Grupo Carso.

Slim's son, Carlos Slim Domit, is now chairman of the board at Grupo Carso.

Source : Bloomberg

Slim holds stakes in several other publicly traded companies, including CaixaBank and The New York Times.

Bloomberg estimates that Slim has raked in nearly $10 billion in dividends from his investments.

Slim was born to Lebanese immigrant parents in Mexico City in 1940.

His father taught him to read financial documents and invest at a young age.

Slim's father was successful in both retail and real estate, and Carlos inherited his business after his death in 1953.

Source : Wealth-X

Slim holds a deep love for his country.

"Mexico is so rich in culture and history, and I have always enjoyed that," he told the Telegraph in 2011.

Mexico is so rich in culture and history, and I have always enjoyed that, he told the Telegraph in 2011.

Slim went to college at Universidad Nacional Autonoma de Mexico, or UNAM, Mexico's National Autonomous University, studying civil engineering and graduating in 1961.

Soon after, he founded his first company , Inversora Bursatil, an insurance company.

Though Slim is known best as the chief shareholder of America Movil and the founder of the Grupo Carso conglomerate, his riches also result from many other business ventures.

Slim spent much of the '60s, '70s, and '80s building a diverse portfolio that now dominates the Mexican economy.

Slim has a clear strategy for making money: He acquires struggling companies and transforms them into multibillion-dollar holdings before selling his stake at a profit.

In particular, he took advantage of the Mexican debt crisis in 1982 in order to purchase many deflated companies.

We saw Slim's strategy firsthand in the US in 2009, when he loaned $250 million to The New York Times at a 14% interest rate.

Slim saw the dea l as a business venture, rather than a foray into journalism.

But Slim announced in 2017 that he would sell almost half his New York Times shares by 2020.

In 2018 alone, he sold at least $86 million worth of his shares.

Slim first entered the international spotlight in 1991 when he appeared on Forbes' billionaires list with a net worth of $1.7 billion.

The previous year, he saw his first big success when Grupo Carso went public and led the privatization of state phone company Telmex, per Forbes.

In 2010, Slim surpassed Bill Gates as the richest man in the world; it was the first time in 16 years that the world's richest man wasn't from the US.

Though Gates is once again richer than Slim and Jeff Bezos reigns as the world's richest person, Slim is the wealthiest person in Mexico by far.

The next-richest person in Mexico is Sara Mota de Larrea, whose $11.1 billion fortune stems from her position as the biggest shareholder in Grupo Mexico, a publicly traded conglomerate founded by her late husband that has a lucrative mining division.

Slim's presence is all over Mexico.

As The Guardian reported in 2017, "It is sometimes hard to tell where Carlos Slim stops and Mexico City starts."

As The Guardian reported in 2017, It is sometimes hard to tell where Carlos Slim stops and Mexico City starts.

"He controls most of the mobile phone, landline and internet markets," Feike De Jong wrote in the Guardian.

"His telecoms company, Telmex , installed the city's surveillance cameras," De Jong continued. "Grupo Carso, his flagship infrastructure conglomerate, runs the city's principal water treatment plant. His bank, Inbursa, is Mexico's."

His telecoms company, Telmex , installed the city's surveillance cameras, De Jong continued. Grupo Carso, his flagship infrastructure conglomerate, runs the city's principal water treatment plant. His bank, Inbursa, is Mexico's.

Slim even owns Mexico City's only aquarium.

Source: The Guardian

The Mexican billionaire also owns Sears Mexico.

His company paid $103 million for a 60% stake in the company in 1997.

As Sears stores shuttered in the US following the company declaring bankruptcy in 2018, Sears has been thriving in Mexico, growing in both locations and sales.

Source : Business Insider

Slim's critics accuse him of being a monopolist whose practices drive prices and unemployment through the roof.

But the billionaire doesn't let criticism bother him: " When you live for others' opinions , you are dead," he said. "I don't want to live thinking about how I'll be remembered."

But the billionaire doesn't let criticism bother him: When you live for others' opinions , you are dead, he said. I don't want to live thinking about how I'll be remembered.

In fact, Slim has no need to cater to public opinion.

His wealth has granted him political influence to the extent that, for the most part, t he Mexican government turns a blind eye to the dominance he has over the telecom industry.

Despite his critics, Slim states that since becoming a billionaire, he has "more activity, more responsibility, and more compromise …"

"The compromise is the challenge of solving Mexico's problems," he told Forbes in 2012. "I'm trying to make our country better in the areas that I can."

The compromise is the challenge of solving Mexico's problems, he told Forbes in 2012. I'm trying to make our country better in the areas that I can.

Slim says one of his biggest goals is alleviating poverty, and that it needs to happen at the institutional level.

"Poverty isn't solved with donations ," he told Forbes in 2012. "The establishment of business is more beneficial to society than going around like Santa Claus."

Poverty isn't solved with donations , he told Forbes in 2012. The establishment of business is more beneficial to society than going around like Santa Claus.

Despite his wealth, Slim does not believe in conspicuous consumption — he reportedly doesn't own any yachts or planes.

Most of his money goes towards further investments in business or philanthropy, though he does reportedly have a set of hand-carved and blown Baccarat wine glasses that were owned by the previous president of Mexico.

Slim has lived in the same six-bedroom house for 40 years and indulges in only two big luxuries: Cuban cigars and art collecting.

Tim Padgett, who interviewed Slim for Time magazine, said, "Just by looking at him, you would never know he is a billionaire."

Tim Padgett, who interviewed Slim for Time magazine, said, Just by looking at him, you would never know he is a billionaire.

Slim's home, his childhood home, and the Telmex offices are all located in Lomas de Chapultepec, a small but affluent neighborhood in Mexico City's financial district.

Source : Wealth-X , The Telegraph , American Journalism Review

Slim purchased a mansion on Fifth Avenue in New York City for $44 million in 2010 as an investment, not a residence.

Source : Business Insider , Bloomberg , Curbed

In 2015, the mansion was put on the market for $80 million, $36 million more than what he paid for it.

But in 2016, it was taken off the market with no sale recorded.

Slim was married to his wife, Soumaya, for 32 years.

She passed away in 1999 due to renal failure. The couple has six children, who will inherit Slim's empire.

In 1994, Slim opened the Museo Soumaya, a nonprofit art museum with free admission in Mexico City named after his late wife, Soumaya.

At one point, it housed the largest private Rodin collection in the world.

After his wife's death, rumors circulated of Slim's subsequent romances, most famously with Queen Noor al-Hussein of Jordan.

Both Soumaya and Queen Noor's husband, King Hussein, passed away within one day of one another in 1999. Ten years later, newspaper outlets reported that Slim and the Queen of Jordan had formed a close relationship that included jet-setting around the globe and dining in secret at friends' houses.

Since 2004, Slim has stepped down from the boards of his three largest companies in order to focus on family, philanthropy, and his own health.

Every Monday he has dinner with his children and their spouses to discuss business, and every Wednesday he has lunch with his grandchildren, he said in a 2012 Forbes interview.

Slim still maintains ultimate control of his companies, but he has handed over much of the responsibility and decision-making to his three sons, Carlos, Marco Antonio, and Patrick, and to his son-in-law, Arturo Elías Ayub.

Two of his grandchildren also sit on boards of his companies.

Slim's daughter, Johanna, is a shareholder of his company, Grupo Carso.

Source : Wealth-X , Forbes

Johanna and Slim's other daughters, Vanessa and Soumaya, are involved in the Slim family's philanthropic endeavors as well as the arts.

Source: Forbes

Slim has said publicly that a succession plan for his company has been made, but he has not given details.

Source : Forbes

• RIL cash flows
• Charlie Munger
• Feedbank IPO allotment
• Tata IPO allotment
• Most generous retirement plans
• Broadcom lays off
• Cibil Score vs Cibil Report
• Birla and Bajaj in top Richest
• Nestle Sept 2023 report
• India Equity Market
• Best printers for Home
• Best Mixer Grinder
• Best wired Earphones
• Best 43 Inch TV in India
• Best Wi Fi Routers
• Best Vacuum Cleaner
• Best Home Theatre in India
• Smart Watch under 5000
• Best Laptops for Education
• Best Laptop for Students

• Advertising
• Write for Us
• Privacy Policy
• Policy News
• Personal Finance News
• Mobile News
• Business News
• Ecommerce News
• Startups News
• Stock Market News
• Finance News
• Entertainment News
• Economy News
• Careers News
• International News
• Politics News
• Education News
• Advertising News
• Health News
• Science News
• Retail News
• Sports News
• Personalities News
• Corporates News
• Environment News
• Top 10 Richest people
• Top 10 Largest Economies
• Lucky Color for 2023
• How to check pan and Aadhaar
• Deleted Whatsapp Messages
• How to restore deleted messages
• 10 types of Drinks
• Instagram Sad Face Filter
• Unlimited Wifi Plans
• Recover Whatsapp Messages
• Google Meet
• Check Balance in SBI
• How to check Vodafone Balance
• Transfer Whatsapp Message
• NSE Bank Holidays
• Dual Whatsapp on Single phone
• Phone is hacked or Not
• How to Port Airtel to Jio
• Window 10 Screenshot

Copyright © 2024 . Times Internet Limited. All rights reserved.For reprint rights. Times Syndication Service.

FACTBOX: Some facts about Mexico billionaire Carlos Slim

Editing by Maureen Bavdek

Our Standards: The Thomson Reuters Trust Principles. , opens new tab

S&P 500 ends near flat but index posts biggest weekly gain of year

The S&P 500 ended little changed on Friday, but the index registered its biggest weekly percentage gain of 2024 after the Federal Reserve this week stuck with projections for three interest rate cuts by year's end.

• International edition
• Australia edition
• Europe edition

Twelve billionaires’ climate emissions outpollute 2.1m homes, analysis finds

Research shows impact from lifestyles and investments of likes of Jeff Bezos, Bill Gates and Elon Musk

• Introduction: the great carbon divide
• Richest 1% account for more carbon emissions than poorest 66%

Twelve of the world’s wealthiest billionaires produce more greenhouse gas emissions from their yachts, private jets, mansions and financial investments than the annual energy emissions of 2m homes, research shared exclusively with the Guardian reveals.

The tycoons include the Amazon boss, Jeff Bezos, the Russian oligarch Roman Abramovich , the tech billionaires Bill Gates, Larry Page and Michael Dell, the inventor and social media company owner Elon Musk and the Mexican business magnate Carlos Slim.

Analysis by Oxfam and US researchers of their luxury purchases, which include superyachts, private jets, cars, helicopters and palatial mansions, combined with the impact of their financial investments and shareholdings reveals that they account for almost 17m tonnes of CO 2 and equivalent greenhouse gas emissions annually.

This is the same as the CO 2 and equivalent emissions from powering 2.1m homes or the emissions from 4.6 coal-fired power plants over a year, according to conversion data from the US Environmental Protection Agency.

The true scale of the investment emissions of these individuals is not generally systematically calculated or reported. Oxfam analysts working with two US academics, Beatriz Barros and Richard Wilk, used publicly available data to calculate the greenhouse gas impacts.

“Billionaires generate obscene amounts of carbon pollution with their yachts and private jets – but this is dwarfed by the pollution caused by their investments,” said Oxfam International’s inequality policy adviser Alex Maitland.

“Through the corporations they own, billionaires emit a million times more carbon than the average person. They tend to favour investments in heavily polluting industries, like fossil fuels.

“The world’s poorest communities, those who have done the least to cause climate change – those who are least able to respond and recover – are the ones who are suffering the worst consequences. This is unfair and immoral.”

The lifestyle emissions were estimated by examining the carbon footprint of the billionaires’ purchases, such as the $500m superyacht that Oceanco built recently for Bezos.

The yacht, which is 127 metres (417ft) long and took three years to build, boasts the title of the largest sailing vessel in the world. Its carbon emissions are at a minimum about 7,154 tonnes a year, according to the analysis by Wilk and Barros.

The superyachts owned by the likes of Bezos, Abramovich, the former Google tycoons Page and Eric Schmidt and by Bernard Arnault , the French tycoon at the helm of a jewellery and fashion empire, have carbon footprints that far exceed those of the private jets owned by 10 of the 12 billionaires.

Bernard Arnault

The luxury king

Nicknamed the “pope of fashion”, Bernard Arnault is the founder, CEO and chairman of the biggest luxury company in the world.

After taking over his father’s construction company in 1971, Arnault changed direction, first to real estate and then into fashion and luxury goods. By 1990 he was at the head of of LVMH, the company that had resulted from a merger between Louis Vuitton and Moët Hennessy, and over the following decades he added Fendi, Bulgari and Tiffany to the already powerful LVMH fold. Arnault recently lost his spot as the  second richest man  in the world. Forbes currently estimates his net worth at about $191bn.

A superyacht kept on permanent standby generates about 7,000 tonnes of CO 2 a year, according to the analysis.

“The emissions of the superyachts are way above anything else,” Wilk said. “They have to have a crew, and they have to be constantly maintained even when they are docked. Then you have the helicopters onboard, the jetskis, the high energy-using luxury items like pools, hot tubs, private submarines and tenders, all of these require power, the air conditioning, the sophisticated electronic items. It is like having a hotel running on the water all the time.”

Wilk said the calculations of lifestyle emissions were a minimum: for example, the researchers attributed superyachts to the billionaires only if they were held in their names rather than company names. The footprint of the dwellings was based on estimates of their energy use.

Carlos Slim

The serial entrepreneur

Born in 1940 in Mexico City, Carlos Slim has extended the reach of his business empire deep into almost every branch of the Mexican economy. Slim’s father, who moved to Mexico from Lebanon, ran a number of shops and businesses around the city, and Slim famously began investing at the age of 11, buying government bonds.

The industrial group he eventually built up incorporated telecoms, construction, real estate, banking and media – Slim owned 17% of the New York Times for a while. At one point, Slim was ranked the world’s richest man by Bloomberg. He is currently 12th. 

As well as making a huge negative contribution to global heating, the financial interests of the elite billionaires give them enormous influence over economic and policy decisions, the researchers said.

“These people have an outsize political influence because of their enormous wealth, which they use to leverage local and national governments, gaining exemptions from taxes and privileges that allow them to pollute and to influence laws regulating pollution,” said Wilk, a professor of anthropology at Indiana University. “If you look at them as entities, some of them are rivalling states in terms of their influence.”

Some use that influence to tackle social and environmental issues. Bezos has committed to spending $10bn via his Earth Fund. The Google co-founder Sergey Brin has funded a non-profit focused on climate change.

Page, Schmidt, Dell, Slim and Oracle’s Larry Ellison all have philanthropic foundations. Musk has argued that his work with Tesla and Solar City has made huge contributions to change. Another one of the 12, Laurene Powell Jobs, runs the philanthropic Emerson Collective. Arnault’s LVMH established an environmental development unit in 1992.

Laurene Powell Jobs

Philanthropist and donor

Laurene Powell Jobs, born on 6 November 1963 and the widow of Apple’s founder Steve Jobs, founded the non-profit Emerson Collective, which supports underprivileged people via philanthropic grants, advocacy and media communication, and the XQ Institute, which works to improve the educational experiences for young people.

She also manages the Steve Jobs Trust and is a major donor to the Democratic party.

A spokesperson for Gates told the Guardian that he had taken many steps to reduce his personal emissions impact by buying sustainable aviation fuel to reduce his air travel pollution, switching to electric cars, using solar panels and buying offsets delivered through carbon removal technologies.

“Bill will continue to invest billions of his own resources into clean energy and climate change innovations to reduce greenhouse gas emissions and help make these technologies more affordable. Additionally, any returns on these investments will go back into fighting climate change and supporting the Bill & Melinda Gates Foundation to help as many people as possible around the world,” the spokesperson said.

None of the other billionaires provided comment on the record.

The carbon footprints of the investments were calculated by examining the equity stakes that the billionaires held in companies. Estimates of the carbon impact of their holdings was calculated using the company’s declarations on scope 1 emissions – direct emissions from sources owned or controlled by a company – and scope 2, indirect emissions.

Oxfam’s research found that the emissions from the investments of 125 billionaires averaged 3.1m tonnes per billionaire. This is more than a million times higher than the average emissions created by the bottom 90% of the world’s population.

• Greenhouse gas emissions
• The great carbon divide
• Climate crisis
• The super-rich
• Roman Abramovich

Most viewed

• Today's news
• Reviews and deals
• Climate change
• 2024 election
• Fall allergies
• Health news
• Mental health
• Sexual health
• Family health
• So mini ways
• Unapologetically
• Buying guides

Entertainment

• How to Watch
• My watchlist
• Stock market
• Biden economy
• Personal finance
• Stocks: most active
• Stocks: gainers
• Stocks: losers
• Trending tickers
• World indices
• US Treasury bonds
• Top mutual funds
• Highest open interest
• Highest implied volatility
• Currency converter
• Basic materials
• Communication services
• Consumer cyclical
• Consumer defensive
• Financial services
• Industrials
• Real estate
• Mutual funds
• Credit cards
• Credit card rates
• Balance transfer credit cards
• Business credit cards
• Cash back credit cards
• Rewards credit cards
• Travel credit cards
• Checking accounts
• Online checking accounts
• High-yield savings accounts
• Money market accounts
• Personal loans
• Student loans
• Car insurance
• Home buying
• Options pit
• Investment ideas
• Research reports
• Fantasy football
• Pro Pick 'Em
• College Pick 'Em
• Fantasy baseball
• Fantasy hockey
• Fantasy basketball
• Download the app
• Daily fantasy
• Scores and schedules
• GameChannel
• World Baseball Classic
• Premier League
• CONCACAF League
• Champions League
• Motorsports
• Horse racing
• Newsletters

New on Yahoo

• Privacy Dashboard

Moscow missile plant ablaze in apparent drone attack

Tomilinsky Electronic Plant research and production enterprise in Lyubertsy, Moscow Oblast, is reportedly ablaze after a drone attack on Sep. 1, according to our sister publication, Ukrainska Pravda .

The Tomilinsky plant is under sanctions by the Ukrainian government as it manufactures electronics for Russian missile systems.

The plant was attacked in an operation directed by Ukraine’s Main Intelligence Directorate (HUR), who believe they have achieved their aim, a well-informed source told Ukrainska Pravda.

The HUR has thus far refused to publicly confirm or deny its involvement. The agency’s spokesman, Andriy Yusov, commented that Russian state media had issued "a mountain" of lies about the attack and said that "cotton has really blossomed" at the plant in Lyubertsy on Friday.

Explosions in Russia or Russian-held territory far behind the frontlines are popularly referred to in Ukraine as “bavovna”, or “cotton” in English.

Drones tried to attack the Russian capital on Sept. 1 , said Moscow mayor Serhiy Sobyanin, adding that one drone was allegedly shot down near Lyubertsy.

We’re bringing the voice of Ukraine to the world. Support us with a one-time donation, or become a Patron !

Read the original article on The New Voice of Ukraine

Recommended Stories

Dodgers' reported reaction to shohei ohtani's $680 million deferral request: 'holy f***'.

Andrew Friedman reacted like the rest of us when he heard Shohei Ohtani's contract proposal.

Conor McGregor displays concerning behavior with twitches, difficulty speaking in interview

McGregor's "Road House" hit Prime Video this week.

March Madness: Auburn's Chad Baker-Mazara ejected less than 5 minutes into Tigers' upset loss to Yale

Baker-Mazara was tossed after he was called for a flagrant 2 foul.

NFL mock draft: A top QB prospect falls amid trades galore in the top 10

Charles McDonald and Nate Tice's latest mock draft has five quarterbacks off the board in the top 13, a big-time weapon for Aaron Rodgers and some steals in the second half of the first round.

Texas is refusing to register kei trucks, and owners are fighting back

"The Autopian" reports that owners of kei trucks are running into more problems registering their vehicles, and an organization formed to fight back.

Boeing targets a culprit of 737 MAX production woes: 'Traveled work'

Boeing's CFO today outlined the steps the company is taking to address a series of issues affecting the safety and reliability of its planes (not to mention the company’s reputation).

These Patagonia jackets are a steal right now at REI at almost $250 off

Combine these deals for a cold-weather system that'll keep you warm and dry for years to come for nearly $250 off the MSRP

NBA's G League Ignite will no longer exist after this season

Jalen Green, Jonathan Kuminga and Scoot Henderson are notable G League Ignite alum.

Pass or Fail: Houston Texans show off new road uniforms after Reddit leak

Texans CEO and Chairman Cal McNair took to Reddit to show off one of the team's new uniform combinations in response to a leak.

Newly hired Michigan defensive line coach resigns after OWI arrest

Greg Scruggs was hired earlier in March after he coached at Wisconsin in 2023.

NFL free agency good, bad and ugly: How has your favorite team done so far?

Which teams should be most excited after a week of NFL free agency?

Kyle Richards loves snacking on this low-sugar, high-protein cinnamon cereal

The 'Real Housewives' star has been prioritizing her health, and Three Wishes is high on her list of hunger-curbing treats.

2025 Ram 1500's 'Hurricane' I6 tops V8 in fuel economy

2025 Ram 1500 full-size pickup truck now has fuel economy numbers, and the Hurricane inline-six delivers better numbers than the V8 it replaces.

Caleb Williams flashes more than trademark arm talent to Bears, Commanders and Patriots at his pro day

Even in a scripted setting like Wednesday's, there are going to be hiccups. How Williams handled them gave teams a glimpse into more than just his ability to throw the football.

2024 Fantasy Baseball: 12 sleeper pitchers not getting enough love in drafts

Fantasy baseball analyst Dalton Del Don wraps up his positional sleeper series with the pitchers!

NL Central season preview: What's in store for Cardinals, Cubs, Brewers, Reds and Pirates in 2024?

The Cubs and Cardinals are expected to contend, with the Brewers and Reds right on their tails, in what could be baseball's most competitive division.

NBA Fact or Fiction: Is the 65-game rule an All-NBA disaster?

We are just weeks from the end of the regular season, so let us take an early look at the All-NBA landscape to discuss the impact of the 65-game rule.

Shohei Ohtani's reps request law enforcement investigation of alleged theft by fired interpreter, per report

We have a new explanation for the change in Ohtani's story: No one actually talked to Ohtani.

Best used cars to buy in 2024: From trucks and SUVs to EVs

The best used cars to buy in 2023 include small and midsize cars, trucks, crossovers and SUVs, and even a couple of used electric cars.

2024 NFL free agency: Fantasy football winners and losers

With the massive wave of NFL free agency moves behind us, fantasy football analyst Matt Harmon shakes out who saw their fantasy value rise or fall for 2024.

 MiG 3 main list    +

 Mikoyan Gurevich MiG 3 172IAP For the Party of Bolsheviks with Nikolai Sheyenko May 1942 01

Mikoyan-Gurevich MiG-3

National origin:- Soviet Union Role:- Fighter Interceptor Manufacturer:- Mikoyan-Gurevich Designer:- First flight:- 29th October 1940 Introduction:- 1941 Status:- Retired 1945 Produced:- 1940-1941 Number built:- 3,422 Primary users:- Soviet Air Forces (VVS); Soviet Air Defence Forces (PVO); Soviet Naval Aviation Developed from:- Mikoyan-Gurevich MiG-1 Variants:- Mikoyan-Gurevich I-211 Operational history MiG-3s were delivered to frontline fighter regiments beginning in the spring of 1941 and were a handful for pilots accustomed to the lower-performance and docile Polikarpov I-152 and I-153 biplanes and the Polikarpov I-16 monoplane. It remained tricky and demanding to fly even after the extensive improvements made over the MiG-1. Many fighter regiments had not kept pace in training pilots to handle the MiG and the rapid pace of deliveries resulted in many units having more MiGs than trained pilots during the German invasion. By 1 June 1941, 1,029 MIG-3s were on strength, but there were only 494 trained pilots. In contrast to the untrained pilots of the 31st Fighter Regiment, those of the 4th Fighter Regiment were able to claim three German high-altitude reconnaissance aircraft shot down before war broke out in June 1941. However high-altitude combat of this sort was to prove to be uncommon on the Eastern Front where most air-to-air engagements were at altitudes well below 5,000 metres (16,000 ft). At these altitudes the MiG-3 was outclassed by the Bf 109 in all respects, and even by other new Soviet fighters such as the Yakovlev Yak-1. Furthermore, the shortage of ground-attack aircraft in 1941 forced it into that role as well, for which it was totally unsuited. Pilot Alexander E. Shvarev recalled: "The Mig was perfect at altitudes of 4,000 m and above. But at lower altitudes it was, as they say, 'a cow'. That was the first weakness. The second was its armament: weapons failure dogged this aircraft. The third weakness was its gunsights, which were inaccurate: that's why we closed in as much as we could and fired point blank." On 22 June 1941, most MiG-3s and MiG-1s were in the border military districts of the Soviet Union. The Leningrad Military District had 164, 135 were in the Baltic Military District, 233 in the Western Special Military District, 190 in the Kiev Military District and 195 in the Odessa Military District for a total of 917 on hand, of which only 81 were non-operational. An additional 64 MiGs were assigned to Naval Aviation, 38 in the Air Force of the Baltic Fleet and 26 in the Air Force of the Black Sea Fleet. The 4th and 55th Fighter Regiments had most of the MiG-3s assigned to the Odessa Military District and their experiences on the first day of the war may be taken as typical. The 4th, an experienced unit, shot down a Romanian Bristol Blenheim reconnaissance bomber, confirmed by postwar research, and lost one aircraft which crashed into an obstacle on takeoff. The 55th was much less experienced with the MiG-3 and claimed three aircraft shot down, although recent research confirms only one German Henschel Hs 126 was 40% damaged, and suffered three pilots killed and nine aircraft lost. The most unusual case was the pair of MiG-3s dispatched from the 55th on a reconnaissance mission to PloieÅŸti that failed to properly calculate their fuel consumption and both were forced to land when they ran out of fuel. Most of the MiG-3s assigned to the interior military districts were transferred to the PVO where their lack of performance at low altitudes was not so important. On 10 July 299 were assigned to the PVO, the bulk of them belonging to the 6th PVO Corps at Moscow, while only 293 remained with the VVS, and 60 with the Naval Air Forces, a total of only 652 despite deliveries of several hundred aircraft. By 1 October, on the eve of the German offensive towards Moscow codenamed Operation Typhoon, only 257 were assigned to VVS units, 209 to the PVO, and 46 to the Navy, a total of only 512, a decrease of 140 fighters since 10 July, despite deliveries of over a thousand aircraft in the intervening period. By 5 December, the start of the Soviet counter-offensive that drove the Germans back from the gates of Moscow, the Navy had 33 MiGs on hand, the VVS 210, and the PVO 309. This was a total of 552, an increase of only 40 aircraft from 1 October. Over the winter of 1941-42 the Soviets transferred all of the remaining MiG-3s to the Navy and PVO so that on 1 May 1942 none were left on strength with the VVS. By 1 May 1942, Naval Aviation had 37 MiGs on strength, while the PVO had 323 on hand on 10 May. By 1 June 1944, the Navy had transferred all its aircraft to the PVO, which reported only 17 on its own strength, and all of those were gone by 1 January 1945. Undoubtedly more remained in training units and the like, but none were assigned to combat units by then.

Send Mail   Please help us to improve these articles with any additional information or photo's.  If you should encounter any bugs   broken links,  or display errors just email us.

If you love our website please add a like on facebook

Please donate so we can make this site even better !!

This webpage was updated 2nd August 2021