Carlos Slim Is About to Be Top New York Times Shareholder
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Billionaire Carlos Slim is poised to become the largest shareholder in the New York Times Co. after already almost doubling his money from an investment that helped the newspaper get through the financial crisis.
Slim, who has amassed a $73 billion fortune by spotting depressed valuations, loaned $250 million to Times Co. in January 2009. After already getting repaid and then some, the world’s second-richest person is now on track to boost his holdings if he exercises options by their Jan. 15 deadline. Slim would then own almost 17 percent of the Times Co.’s Class A shares, a stake valued at about $349 million.