Mexico’s richest man sees his fortune slump

Global Business

Mexico's richest man sees his fortune slump2

It was a brutal year for some of the world’s richest people. 2015 would be one to forget for Mexico’s richest man. Carlos Slim’s net worth took a multi-billion dollar hit due to volatile markets and government regulations.

CCTV America’s Martin Markovitz has more from Mexico City.
Follow Martin Markovits on Twitter @MartinMarkovits.

Mexico's richest man sees his fortune slump

Mexico's richest man sees his fortune slump

It was a brutal year for some of the world’s richest people. 2015 would be one to forget for Mexico’s richest man. Carlos Slim’s net worth took a multi-billion dollar hit due to volatile markets and government regulations.

Carlos Slim is a titan in the mobile telecom arena. His fortunes took a hit in part because of economic volatility and government regulations.

Mexico’s weakened peso and the decline of his company’s second biggest market, Brazil, hurt, but what may have most affected Slim’s fortune were the new regulatory rules passed by the Mexican government designed to increase competition in the telecommunications industry.