What could Carlos Slim lack? Your own stock index

September 3, 2019 | 3:00 pm

There are things that can only be accessed with a fortune of 73,000 million dollars. One of them is to have a stock index and Carlos Slim already has his.

The Slim index was launched on Tuesday by the Monex financial group, which said in a note that the tool is a way to recognize the trajectory and the ability to generate value of the largest businessman in Mexico and one of the richest in the world.

The sample is made up of billionaire firms, including the América Móvil telecommunications group, the Grupo Carso industrial and retail conglomerate, the Inbursa financial group and the Frisco mining company.

Like everything in the world of investments, the return is key and in this area the Slim index has chiaroscuro. In the year, according to Monex, the index registers a gain of 1.7%, below 2.4% of the S&P / BMV IPC, the main Mexican index.

In contrast, only in August, Slim companies rebounded 6.2%, a figure higher than 4.3% of the leading index of the Mexican Stock Exchange.

Despite the ups and downs, the relevance of the index lies in its size. Currently, the market value of Slim companies in the stock market amounts to 70,000 million dollars, about 14% of the total Mexican stock market.

In addition, those 70,000 million dollars are equivalent to 5.2% of the country's Gross Domestic Product, Monex said.

Slim's fortune, of a Lebanese father and Mexican mother, skyrocketed with the creation of América Móvil, and later expanded to other sectors, such as mining and infrastructure.

He also expanded his domain in the media, with a participation in The New York Times, among other investments.