Pursuits
World’s Richest Lose $33 Billion as Slim Plans Phone Breakup
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The world’s 300 richest people dropped $33 billion from their collective net worth this week as the Standard & Poor’s 500 Index suffered its worst week since April.
Bucking the trend was Mexican billionaire Carlos Slim, who added $4.4 billion to his fortune after he announced plans to carve up his telecommunications empire. The billionaire said this week that his America Movil SAB, the Americas’ largest wireless operator with 272 million subscribers, is bowing to imminent antitrust legislation by selling assets in Mexico to reduce its dominant market share.