BANASREE COMMERCE COLLEGE

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.

BANASREE COMMERCE COLLEGE

BCC (Banasree Commerce College) is completely committed to serve quality full education and build up a wise nation.

BANASREE COMMERCE COLLEGE

BCC (Banasree Commerce College) is completely committed to serve quality full education and build up a wise nation.

BANASREE COMMERCE COLLEGE

BCC (Banasree Commerce College) is completely committed to serve quality full education and build up a wise nation.

BANASREE COMMERCE COLLEGE

BCC (Banasree Commerce College) is completely committed to serve quality full education and build up a wise nation.

Wednesday, April 23, 2014



                                                                       Amartya Sen

Amartya Kumar Sen (born 3 November 1933), is an Indian economist and a Nobel laureate. He has made contributions to welfare economicssocial choice theory, economic and social justice, economic theories of famines, and indexes of the measure of well-being of citizens of developing countries. He was awarded the Nobel Memorial Prize in Economic Sciences in 1998 for his work in welfare economics.
He is currently the Thomas W. Lamont University Professor and Professor of Economics and Philosophy at Harvard University. He is also a senior fellow at the Harvard Society of Fellows, distinguished fellow of All Souls College, Oxfordand a Fellow of Trinity College, Cambridge, where he previously served as Master from 1998 to 2004.[4][5] Sen's books have been translated into more than thirty languages over a period of forty years.

Early life and education[edit]

Sen was born in SantiniketanWest Bengal, India, to Ashutosh Sen and his wife Amita. Rabindranath Tagore is said to have given Amartya Sen his name (Bengali অমর্ত্য ômorto, lit. "immortal"). Sen's family was originally from Wari, Dhaka, in present-day Bangladesh, and both of his parents were born in Manikganj, Dhaka. His father Ashutosh Sen was a professor of chemistry at Dhaka University who moved with his family to West Bengal during the Partition of India and worked at various educational institutions, eventually becoming Chairman of the West Bengal Public Service Commission. Sen's mother Amita Sen was the daughter of Kshiti Mohan Sen, a scholar and close associate of Rabindranath Tagore who became the second Vice Chancellor of Visva-Bharati University. She was also first cousin (through her father) of Sukumar SenICS the First-Chief Election Commissioner of IndiaAshoke Kumar SenM.P. and sometime Union Law Minister, and Amiya Sen, a distinguished Barrister.
Sen began his high-school education at St Gregory's School in Dhaka in 1941. After his family moved to West Bengal following the partition of the country in 1947, he studied at Visva-Bharati University school and then at Presidency College, Kolkata, where he earned a First Class First in his B.A. (Honours) in Economics (awarded by the University of Calcutta). The same year, 1953, he moved to Trinity College, Cambridge, where he earned a First Class (Starred First) MA (Honours) in 1956. He was elected President of the Cambridge Majlis. While still an undergraduate student of Trinity, he met the economist Prasanta Chandra Mahalanobis, the principal architect of India's (later much reviled) economic policy based on the soviet model of nationalized heavy industry. Mahalanobis, who was much impressed with Sen, returned to Calcutta and immediately recommended the brilliant Cambridge undergraduate to Triguna Sen, the then Education Minister of West Bengal, who had been instrumental in turning the National Council into the new Jadavpur University.
After Sen completed his Tripos examination and enrolled for a PhD in Economics at Trinity College, Cambridge, he returned to India on a two-year leave. Triguna Sen immediately appointed him Professor and founding Head of Department of Economics at Jadavpur University, Calcutta, something quite extraordinary because Sen had hardly even begun his PhD studies at Trinity and was 23 years of age. This still remains the youngest age at which anybody has been appointed to a professorship or a head of departmentship in India. During his tenure at Jadavpur University, Sen had economic methodologist A.K. Dasgupta, who was then teaching at Benares Hindu University, as his supervisor. After two full years of full-time teaching in Jadavpur, Sen returned to Cambridge in 1959 to complete his PhD.
Subsequently, Sen won a Prize Fellowship at Trinity College, which gave him four years of freedom to do anything he liked. He took the radical decision of studying philosophy. That proved to be of immense help to his later research. Sen related the importance of studying philosophy thus: "The broadening of my studies into philosophy was important for me not just because some of my main areas of interest in economics relate quite closely to philosophical disciplines (for example, social choice theory makes intense use of mathematical logic and also draws on moral philosophy, and so does the study of inequality and deprivation), but also because I found philosophical studies very rewarding on their own."[6] However, his deep interest in philosophy can be dated back to his college days in Presidency, when he both read books on philosophy and debated philosophical themes.
To Sen, Cambridge was like a battlefield. There were major debates between supporters of Keynesian economics on the one hand, and the "neo-classical" economists skeptical of Keynes, on the other. Sen was lucky to have close relations with economists on both sides of the divide. Meanwhile, thanks to its good "practice" of democratic and tolerant social choice, Sen's own college, Trinity College, was an oasis very much removed from the discord. However, because of a lack of enthusiasm for social choice theory whether in Trinity or Cambridge, Sen had to choose a quite different subject for his Ph.D. thesis, after completing his B.A. He submitted his thesis on "The Choice of Techniques" in 1959 under the supervision of the "brilliant but vigorously intolerant" post-KeynesianJoan Robinson.[7]According to Quentin Skinner, Sen was a member of the secret society Cambridge Apostles during his time at Cambridge.[8]

Professorships[edit]

Between 1960 and 1961, Sen was a visiting Professor at Massachusetts Institute of Technology.[9] He was also a visiting Professor at UC-Berkeley, Stanford, andCornell. He has taught economics also at the University of Calcutta and at the Delhi School of Economics (where he completed his magnum opus Collective Choice and Social Welfare in 1970),[10] where he was a Professor from 1961 to 1972, a period which is considered to be a Golden Period in the history of DSE. In 1972, he joined the London School of Economics as a Professor of Economics where he taught until 1977. From 1977 to 1986 he taught at the University of Oxford, where he was first a Professor of Economics at Nuffield College, Oxford and then the Drummond Professor of Political Economy and a Fellow of All Souls College, Oxford. In 1986, he joined Harvard as the Thomas W. Lamont University Professor of Economics. In 1998 he was appointed as Master of Trinity College, Cambridge.[11] In January 2004, Sen returned to Harvard. He is also a contributor to the Eva Colorni Trust at the former London Guildhall University. In June 2005 he received an Honorary Doctor of Economics, politics and international institutions degree from University of Pavia.

Membership and associations[edit]

He has served as president of the Econometric Society (1984), the International Economic Association (1986–1989), the Indian Economic Association (1989) and theAmerican Economic Association (1994). He has also served as President of the Development Studies Association (1980–1982) and is an Honorary Vice-President of the Royal Economic Society, which he has been since 1988.
He presently serves as Honorary Director of Center for Human and Economic Development Studies at Peking University in China[12] and is also a board council member of the Prime Minister of India's Global Advisory Council of Overseas Indians.[13]

Research[edit]

Sen's papers in the late 1960s and early 1970s helped develop the theory of social choice, which first came to prominence in the work by the American economistKenneth Arrow, who, while working at the RAND Corporation, had most famously shown that all voting rules, be they majority rule or two thirds-majority or status quo, must inevitably conflict with some basic democratic norm. Sen's contribution to the literature was to show under what conditions Arrow's impossibility theorem[14]would indeed come to pass as well as to extend and enrich the theory of social choice, informed by his interests in history of economic thought and philosophy.
In 1981, Sen published Poverty and Famines: An Essay on Entitlement and Deprivation (1981), a book in which he argued that famine occurs not only from a lack of food, but from inequalities built into mechanisms for distributing food. Sen also argued that the Bengal famine was caused by an urban economic boom that raised food prices, thereby causing millions of rural workers to starve to death when their wages did not keep up.[15]
Sen's interest in famine stemmed from personal experience. As a nine-year-old boy, he witnessed the Bengal famine of 1943, in which three million people perished. This staggering loss of life was unnecessary, Sen later concluded. He presents data that there was an adequate food supply in Bengal at the time, but particular groups of people including rural landless labourers and urban service providers like haircutters did not have the monetary means to acquire food as its price rose rapidly due to factors that include British military acquisition, panic buying, hoarding, and price gouging, all connected to the war in the region. In Poverty and Famines, Sen revealed that in many cases of famine, food supplies were not significantly reduced. In Bengal, for example, food production, while down on the previous year, was higher than in previous non-famine years. Thus, Sen points to a number of social and economic factors, such as declining wages, unemployment, rising food prices, and poor food-distribution systems. These issues led to starvation among certain groups in society. His capabilities approach focuses on positive freedom, a person's actual ability to be or do something, rather than on negative freedom approaches, which are common in economics and simply focuses on non-interference. In the Bengal famine, rural laborers' negative freedom to buy food was not affected. However, they still starved because they were not positively free to do anything, they did not have the functioning of nourishment, nor the capability to escape morbidity.
In addition to his important work on the causes of famines, Sen's work in the field of development economics has had considerable influence in the formulation of theHuman Development Report,[16] published by the United Nations Development Programme.[17] This annual publication that ranks countries on a variety of economic and social indicators owes much to the contributions by Sen among other social choice theorists in the area of economic measurement of poverty and inequality.
Sen's revolutionary contribution to development economics and social indicators is the concept of 'capability' developed in his article "Equality of What".[18] He argues that governments should be measured against the concrete capabilities of their citizens. This is because top-down development will always trump human rights as long as the definition of terms remains in doubt (is a 'right' something that must be provided or something that simply cannot be taken away?). For instance, in the United States citizens have a hypothetical "right" to vote. To Sen, this concept is fairly empty. In order for citizens to have a capacity to vote, they first must have "functionings." These "functionings" can range from the very broad, such as the availability of education, to the very specific, such as transportation to thepolls. Only when such barriers are removed can the citizen truly be said to act out of personal choice. It is up to the individual society to make the list of minimum capabilities guaranteed by that society. For an example of the "capabilities approach" in practice, see Martha Nussbaum's Women and Human Development.[19]
He wrote a controversial article in The New York Review of Books entitled "More Than 100 Million Women Are Missing" (see Missing women of Asia), analyzing the mortality impact of unequal rights between the genders in the developing world, particularly Asia. Other studies, such as one by Emily Oster, have argued that this is an overestimation, though Oster has recanted some of her conclusions.[20]
Welfare economics seeks to evaluate economic policies in terms of their effects on the well-being of the community. Sen, who devoted his career to such issues, was called the "conscience of his profession." His influential monograph Collective Choice and Social Welfare (1970), which addressed problems related to individual rights (including formulation of the liberal paradox), justice and equity, majority rule, and the availability of information about individual conditions, inspired researchers to turn their attention to issues of basic welfare. Sen devised methods of measuring poverty that yielded useful information for improving economic conditions for the poor. For instance, his theoretical work on inequality provided an explanation for why there are fewer women than men in India[21] and China despite the fact that in the West and in poor but medically unbiased countries, women have lower mortality rates at all ages, live longer, and make a slight majority of the population. Sen claimed that this skewed ratio results from the better health treatment and childhood opportunities afforded boys in those countries, as well as sex-specific abortion.
Governments and international organizations handling food crises were influenced by Sen's work. His views encouraged policy makers to pay attention not only to alleviating immediate suffering but also to finding ways to replace the lost income of the poor, as, for example, through public-works projects, and to maintain stable prices for food. A vigorous defender of political freedom, Sen believed that famines do not occur in functioning democracies because their leaders must be more responsive to the demands of the citizens. In order for economic growth to be achieved, he argued, social reforms, such as improvements in education and public health, must precede economic reform.
In 2009, a new book by Sen was published, The Idea of Justice.[22][23] Based on his previous work in welfare economics and social choice theory, but also on his philosophical thoughts, he presented his own theory of justice that he meant to be an alternative to the influential modern theories of justice of John Rawls or John Harsanyi. In opposition to Rawls but also earlier justice theoreticians Immanuel KantJean-Jacques Rousseau or David Hume, and inspired by the philosophical works of Adam Smith and Mary Wollstonecraft, Sen developed a theory that is both comparative and realizations-oriented (instead of being transcendental and institutional). However, he still regards institutions and processes as being important. As an alternative to Rawls's veil of ignorance, Sen chose the thought experiment of an impartial spectator as the basis of his theory of justice. He also stressed the importance of public discussion (understanding democracy in the sense of John Stuart Mill) and a focus on people's capabilities (an approach that he had co-developed), including the notion of universal human rights, in evaluating various states with regard to justice.

Personal life and beliefs[edit]

Sen has been married three times. His first wife was Nabaneeta Dev Sen, an Indian writer and scholar, by whom he had two daughters: Antara, a journalist and publisher, and Nandana, a Bollywood actress. Their marriage broke up shortly after they moved to London in 1971.[24] In 1973, Sen married his second wife, Eva Colorni, who died from stomach cancer in 1985.[24] He has two children by Eva, a daughter Indrani, who is a journalist in New York, and a son Kabir, who teaches music at Shady Hill School. In 1991, Sen married his present wife, Emma Georgina Rothschild. They have no children together.
Sen maintains a house in Cambridge, Massachusetts, where he and Emma spend the spring and long vacations. He usually spends his winter holidays at his home in Santiniketan in West Bengal, India, where he likes to go on long bike rides. Asked how he relaxes, he replies: "I read a lot and like arguing with people."[34]
Sen is an atheist and holds that this can be associated with Hinduism as a political entity.[35][36][37][38] In an interview for the magazine California, which is published by the University of California, Berkeley, he noted:[39]
In some ways people had got used to the idea that India was spiritual and religion-oriented. That gave a leg up to the religious interpretation of India, despite the fact that Sanskrit had a larger atheistic literature than what exists in any other classical languageMadhava Acharya, the remarkable 14th century philosopher, wrote this rather great book called Sarvadarshansamgraha, which discussed all the religious schools of thought within the Hindu structure. The first chapter is "Atheism" – a very strong presentation of the argument in favor of atheism and materialism.

Academic achievements, awards, and honors[edit]

Sen has received over 90 honorary degrees from universities around the world.[40]


Amartya Sen
Amartya Sen NIH.jpg
Official Portrait at the Nobel Prize
Born3 November 1933 (age 80)
SantiniketanBengal PresidencyBritish India(present-day West Bengal,India)
NationalityIndian
Institution
FieldWelfare economics,development economics, ethics
School/traditionCapability Approach
Alma materPresidency College of the University of Calcutta (B.A.),
Trinity College, Cambridge(B.A., M.A., Ph.D.)
Influences
Influenced
ContributionsHuman development theory
AwardsNobel Prize in Economics(1998)
Bharat Ratna (1999)
National Humanities Medal(2012)[3]


Sunday, April 20, 2014

Carlos Slim, The simple but rich & Successful man of the world ...



Carlos Slim, Chairman of Grupo Carso, arriving in the Presidential Palace for a meeting with Brazil's President Luiz Inácio Lula da Silva on October 24, 2007
BornCarlos Slim Helú
January 28, 1940 (age 74)
Mexico City, Mexico
ResidenceMexico City, Mexico
NationalityMexican
EthnicityLebanese
EducationCivil Engineering
Alma materUniversidad Nacional Autónoma de México
OccupationChairman & CEO of Telmex,América MóvilSamsung Mexicoand Grupo Carso
Known forWorld's wealthiest person (2007, 2010-2013)
Net worthDecrease US$ 69.67 billion (Mar 2014)[1]
ReligionMaronite Christian[2]
Spouse(s)Soumaya Domit (m. 1967; wid. 1999)
ChildrenCarlos
Marco Antonio
Patrick
Soumaya
Vanessa
Johanna
ParentsJulián Slim Haddad (deceased)
Linda Helú


Carlos Slim Helú (Spanish pronunciation: [ˈkaɾlos esˈlin eˈlu]; born January 28, 1940) is a Mexican business magnate, investor, and philanthropist. From 2010 to 2013, Slim was ranked as the richest person in the world,[3] but that position has been regained by Bill Gates.[4] His extensive holdings in a considerable number of Mexican companies through hisconglomerateGrupo Carso, SA de CV, have amassed interests in the fields of communications, technology, retailing, and finance. Presently, Slim is the chairman and chief executive of telecommunications companies Telmex and América Móvil.
América Móvil, which was Latin America’s largest mobile-phone carrier in 2010, accounted for around US$49 billion of Slim's wealth by the end of that year.[5] His corporate holdings as of December 2013 have been estimated at US$71.2 billion.[1]

Early life[edit]

Slim was born in Mexico City, Mexico in 1940 to Maronite Catholic parents, Julián Slim Haddad and Linda Helú, both ofLebanese descent.[6][7] His father, born Khalil Salim Haddad Aglamaz, emigrated to Mexico from Lebanon (then part of the Ottoman Empire) at the age of 14 in 1902 and changed his name to Julián Slim Haddad.[6] It was not uncommon for Lebanese children to be sent abroad before they reached the age of 15 to avoid being conscripted into the Ottomanarmy; four of Haddad's older brothers were already living in Mexico at the time of his arrival.[8]
Carlos Slim's mother, Linda Helú Atta, was born in Parral, Chihuahua, of Lebanese parents who had immigrated to Mexico in the late 19th century. Her parents upon immigrating to Mexico had founded one of the first Arabic language magazines for the Lebanese-Mexican community, using a printing press they had brought with them.[8]
In 1911, Julián established a dry goods store, La Estrella del Oriente (The Star of the Orient). By 1921, he had purchased real estate in the flourishing commercial district of Mexico City. These enterprises became the source of considerable wealth.[8]
In August 1926, Julián Slim and Linda Helú married. They had six children: Nour, Alma, Julián, José, Carlos and Linda. Julián senior died in 1953.[8]

Business career[edit]

Slim and his siblings were taught basic business practices by their father, and at the age of 12, Slim bought shares in a Mexican bank. At the age of 17, he earned 200 pesos a week working for his father's company.[9] He went on to study civil engineering at the National Autonomous University of Mexico, where he also concurrently taught algebra and linear programming.[10] After graduating from college, Slim began his career as a trader in Mexico to hone his business skills. He would then go on to form his own brokerage firm that later expanded to invest in individual businesses, ranging from construction and manufacturing to retail and restaurants. In 1965, he incorporated Inversora Bursátil and bought Jarritos del Sur. In 1966, already worth US$40 million,[11] he founded Inmobiliaria Carso. Three months later, he married Soumaya Domit Gemayel (the Carso name derives from the first three letters of Carlos and the first two of Soumaya), and they remained married until her death in 1999.[8]
Companies found within the construction, real estate, and mining industries were the focus of Slim's early career. By 1972, he had established or acquired a further seven businesses in these categories, including one which rented construction equipment. In 1976, he branched out by buying a 60% interest in a printing business, and in 1980, he consolidated his business interests by forming Grupo Galas as the parent company of a conglomerate that had interests in industry, construction,miningretail, food, and tobacco.[8]
In 1982, the Mexican economy, which had substantially relied on oil exports, contracted rapidly as the price of oil fell and interest rates rose worldwide. Banks and other businesses were nationalized, crippled, or collapsed, and the peso was devalued.[citation needed] At this time, and during the period of recovery to 1985, Slim invested heavily. He bought all or a large percentage of numerous Mexican businesses, including Reynolds Aluminio, General Popo (General Tire's trading name in Mexico), Bimex hotels, and the Sanborns food retailer. He also acquired a 40% and 50% interest in the Mexican arms of British American Tobacco and The Hershey Company, respectively. He moved into financial services as well, buying Seguros de México and creating from it, along with other purchases such as Fianzas La Guardiana and Casa de Bolsa Inbursa, the Grupo Financiero Inbursa. Many of these acquisitions were financed by the cash flows from Cigatam, a tobacco business which he bought early in the economic downturn.[8]
Slim added the Nacrobre group of companies – which trade in copper and aluminium products – in 1988, along with a chemicals business, Química Fluor, and others.[8]
In 1990, the Grupo Carso was floated as a public company, with share placements initially in Mexico and then worldwide.[8]
Later in 1990, Slim acted in concert with France Télécom and Southwestern Bell Corporation in order to buy the landline telephony company Telmex from the Mexican government.[8] By 2006, 90 percent of the telephone lines in Mexico were operated by Telmex, while his mobile telephony company, Telcel, which was created out of the Radiomóvil Dipsa company,[8] operated almost 80 percent of all the country's cellphones.[12]
In 1991, he acquired Hoteles Calinda (now OSTAR Grupo Hotelero), and in 1993, he increased his stakes in General Tire and Grupo Aluminio to the point where he had a majority interest.[8]
In 1996, Grupo Carso was split into three companies: Carso Global Telecom, Grupo Carso, and Invercorporación. In the following year, Slim bought the Mexican arm of Sears Roebuck.[8]
1999 saw Slim expanding his business interests beyond Latin America; he set up Telmex USA and also acquired a stake in Tracfone, a US cellular telephone company. At the same time, he established Carso Infraestructura y Construcción, S. A. (CICSA) as a construction and engineering company within Grupo Carso.[8] It was also at this time that Slim had heart surgery and subsequently passed on much of the day-to-day involvement in the businesses to his children and their spouses.[12]
América Telecom, the holding company for América Móvil, was incorporated in 2000. It took stakes in various cellular telephone companies outside of Mexico, including the Brazilian ATL and Telecom Americas concerns, Techtel in Argentina, and others in Guatemala and Ecuador. In subsequent years, there was further investment in this sphere, including deals involving companies in Colombia, Nicaragua, Peru, Chile, Honduras, and El Salvador. 2000 also saw a venture withMicrosoft which led to the start of the Spanish T1msn portal, later renamed ProdigyMSN.[8]
In 2005, Slim invested in the Volaris airline[8] and formed Impulsora del Desarrollo y el Empleo en America Latina SAB de CV (using the acronym "IDEAL"—roughly translated as "Promoter of Development and Employment in Latin America"), a Mexico-based company primarily engaged in not-for-profit infrastructure development.
Having amassed a 50.1% stake in the Cigatam tobacco company, Slim reduced his holdings by selling a large portion to Philip Morris in 2007 for $1.1bn, while in the same year also selling his entire interest in a tile company, Porcelanite, for $800m. He also licensed the Saks name and opened Saks Fifth Avenue in Santa Fe, Mexico. The following year saw him take a 6.4% stake in The New York Times Company,[8] which increased to 8% by 2012.[13]
On December 8, 2007, Grupo Carso announced that the remaining 103 CompUSA stores would be either liquidated or sold, bringing an end to the struggling company,[14] although the IT tech part of CompUSA continued under the name Telvista with U.S. locations in Dallas, Texas (U.S. Corporate Office) and Danville, Virginia. Telvista has five centers in Mexico (three in Tijuana, one center in Mexicali, and one in México City).[15] After 28 years, Slim became the Honorary Lifetime Chairman of the business. He is also Chairman of Teléfonos de MexicoAmérica Móvil, and Grupo Financiero Inbursa.
He is building Plaza Carso in Mexico City where most of his ventures will share a common headquarters address.[16]
In March 2012, Slim along with American television host Larry King established Ora TV, an on-demand digital television network that produces and distributes television shows including Larry King NowPoliticking with Larry KingRecessionista, and Jesse Ventura Uncensored. The network was used as an outlet to produce a new show for Larry King after leaving CNN.[17]

Personal life[edit]

Slim was married to Soumaya Domit from 1967 until her death in 1999. Among her interests were various philanthropic projects, including the creation of a legal framework for organ donation.[8] Slim has six children: Carlos, Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna.[18]

Personal fortune[edit]

Wealth[edit]

On March 29, 2007, Slim surpassed Warren Buffett as the world's second richest person with an estimated net worth of $53.1 billion compared to Buffet's $52.4 billion.[19]
On August 4, 2007, The Wall Street Journal ran a cover story profiling Slim. The article said, "While the market value of his stake in publicly traded companies could decline at any time, at the moment he is probably wealthier than Bill Gates".[20] According to The Wall Street Journal, Slim credits part of his ability to "discover investment opportunities" early to the writings of his friend, futurist author Alvin Toffler.[20]
On August 8, 2007, Fortune reported that Slim had overtaken Gates as the world's richest person. Slim's estimated fortune soared to $59 billion, based on the value of his public holdings at the end of July. Gates' net worth was estimated to be at least $58 billion.[20][21]
On March 5, 2008, Forbes ranked Slim as the world's second-richest person, behind Warren Buffett and ahead of Bill Gates.[22]
On March 11, 2009, Forbes ranked Slim as the world's third-richest person, behind Gates and Buffett and ahead of Larry Ellison.[22]
On March 10, 2010, Forbes once again reported that Slim had overtaken Gates as the world's richest person, with a net worth of $53.5 billion. At the time, Gates and Buffett had a net worth of $53 billion and $47 billion respectively.[22] He was the first Mexican to top the list.[23] It was the first time in 16 years that the person on top of the list was not from the United States.[24] It was also the first time the person at the top of the list was from an "emerging economy."[25]
In March 2011, Forbes stated that Slim had maintained his position as the wealthiest person in the world, with his fortune estimated at $74 billion.[3]
In December 2012, According to the Bloomberg Billionaires Index, Carlos Slim Helú remains the world's richest person with an estimated net worth of $75.5 billion.[26]
On March 5, 2013, Forbes stated that Slim is still maintaining his first place position as the wealthiest person on the globe, with an estimated net worth of US$73 billion.[27]
On May 16, 2013, Bloomberg L.P. ranked Slim the second richest person in the world, after Bill Gates.[28]

Personal assets[edit]

Slim owns the Duke Seamans mansion, a 1901 Beaux arts house, on 5th Avenue in New York City, which he bought for $44 million in 2010. Inside the house, there are 12 bedrooms, 14 bathrooms, a doctor’s office in the basement with the size of the mansion pegged at a total of 20,000 sqft.[29]

Philanthropy[edit]

In 1995 he established Fundación Telmex, a broad-ranging philanthropic foundation. This followed the creation of his eponymous non-profit philanthropic foundation,Fundación Carlos Slim Helú in 1986. In 2007 Slim announced that the latter body had been provided with an asset base of $4 billion and that it would be establishing Carso Institutes for Health, Sports and Education. Furthermore, it was to work in support of an initiative of Bill Clinton to aid the people of Latin America.[8] Because Mexican foundations are not required to publish their financial information, it is not possible to confirm Slim’s claims of charitable giving through a public source.
Among the activities of Fundación Telmex has been the organisation of Copa Telmex, an amateur sports tournament which in 2007 was recognised by Guinness World Records as having the most participants of any such tournament in the world, a record which it extended in 2008. Together with Fundación Carlos Slim Helú, this organisation announced in the same year that it was to invest more than $250 million in Mexican sports programmes, from grass-roots level to Olympic standard.[8]
The Fundación Carlos Slim Helú sponsors the Museo Soumaya in Mexico City which contains the world's second-largest (and largest private) collection of Rodinsculptures, including The Kiss. Named after Slim's late wife, Soumaya Domit, the Museo Soumaya holds 66,000 pieces, including religious relics, works by Leonardo da VinciPablo PicassoPierre-Auguste Renoir, and coins from the viceroys of Spain. In particular, the museum holds the largest Dalí collection in Latin America.[30]It was inaugurated in 2011 by the President of Mexico, Nobel Prize laureates and other celebrities.[31]
In 2000, Slim, along with ex-broadcaster Jacobo Zabludowsky organized the Fundación del Centro Histórico de la Ciudad de México A.C. (Mexico City Historic Downtown Foundation), with the objective of revitalizing and rescuing Mexico City's historic downtown area to enable more people to live, work and find entertainment there.[8] He has been Chairman of the Council for the Restoration of the Historic Downtown of Mexico City since 2001.[32]
In 2011 he, along with the President of Mexico, Mexico City Mayor and Mexico City Archbishop, inaugurated the first phase of Plaza Mariana close to Basilica de Guadalupe.[33] The complex, whose construction was funded by Slim, includes an evangelization center, museumcolumbarium, health center, market and parking lot.[34]
In May 2011, Slim was mentioned in Forbes' World's Biggest Givers after stating that he had donated $4 billion to his foundation.[35]

Achievements[edit]

Slim has been vice-president of the Mexican Stock Exchange and president of the Mexican Association of Brokerage Houses.[when?] He was the first president of the Latin-American Committee of the New York Stock Exchange Administration Council, and was in office from 1996 through 1998.
Slim was on the Board of Directors of the Altria Group (previously known as Philip Morris) until his resignation in April 2006. Slim was also on the Board of Directors of Alcatel. Slim currently sits on the Board of Directors for Philip Morris International. He was on the Board of Directors of SBC Communications until July 2004, when he quit to devote more time to the World Education & Development Fund, which is focused on infrastructure, health and education projects. In 1997, just before the company introduced its iMac line, Slim bought 3% of Apple Inc.'s stock.
In 2008 it was reported that Slim had shown an interest in buying the Honda Formula One team.[36] Telmex sponsored the Sauber F1 team for the 2011 season.[37][38] [39]

Awards[edit]

Criticism[edit]

The Mexican magnate's growing fortune has caused controversy because it has been amassed in a developing country where average per capita income does not surpass $14,500 a year, and nearly 17% of the population lives in poverty.[43] Critics claim that Slim is a monopolist, pointing to Telmex's control of 90% of the Mexican landline telephone market. Slim's wealth is the equivalent of roughly 5% of Mexico's annual economic output.[44] Telmex, of which 49.1% is owned by Slim and his family, charges among the highest usage fees in the world, according to the Organisation for Economic Co-operation and Development.[45]
According to Professor Celso Garrido, an economist at the Universidad Nacional Autónoma de México, Slim's domination of Mexico's conglomerates prevents the growth of smaller companies, resulting in a shortage of paying jobs and forcing many Mexicans to seek better lives in the United States of America.[46] The Mexican Senate, which has received contributions from Carlos Slim, has made it easier for firms to hire and fire workers, and shorten labor disputes.[citation needed]
Slim has stated, "When you live for others' opinions, you are dead. I don't want to live thinking about how I'll be remembered," by Mexican people claiming indifference about his position on Forbes list of the world's richest people and has said he has no interest in becoming the world's richest person. When asked to explain his sudden increase in wealth at a press conference soon after Forbes annual rankings were published, he reportedly said, "The stock market goes up ... and down", and noted that his fortune could quickly drop.[44]
Carlos Slim has devoted $3.5 billion[47] for his philanthropic organization, Fundación Carlos Slim.
Carlos Slim has been attempting to expand his telecom empire beyond the Americas and by targeting KPN for acquisition. Dutch Minister of Economic Affairs, Henk Kamp has stated in Sep-13, that an acquisition of KPN by a “foreign company,” i.e. América Móvil (NYSE:AMX), the telecom giant controlled by Slim, could have consequences for national security.[48]

..............Completed by MD. Rakibul H Raqqeb ...........