The document discusses Carlos Slim, a Mexican business magnate and the former richest person in the world. It outlines that Slim built a vast business conglomerate comprising industries like telecommunications, education, and media. It also notes that he derives his fortune from extensive holdings in Mexican companies through his conglomerate Grupo Carso. The summary provides details on Slim's early investments and education in business and engineering.

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“A smart person knows what to say. A wise person knows
whether or not to say it.”
Law Updates:
• Compensation paid to employees on closure of business couldn’t be
termed as VRS package for income-tax relief.
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• Applicants couldn't be debarred from having their names in place of
deceased petitioner in oppression plea: Guwahati NCLT.
• Compensation paid to employees on closure of business couldn’t be
termed as VRS package for income-tax relief.
• Compensation paid to employees on closure of business couldn’t be
termed as VRS package for income-tax relief: Pune Tribunal.
• Company having revenue from sale of equipment and software
licenses is incomparable with a co. rendering software service: Delhi
Tribunal.
PROFESSIONALS INPUTS:
• CBEC vide Press Release dated 25th
March 2017 has said FM
approves the re-organisation of the field formations of the Central
Board of Excise & Customs (CBEC) for the implementation of
Goods & Services Tax (GST); CBEC is being renamed as the
Central Board of Indirect Taxes & Customs (CBIC), after getting
legislative approval.
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Date: 27th
March, 2017

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Carlos Slim
Chairman and Chief Executive Telmex
Carlos Slim Helú is a Mexican business magnate, investor, and philanthropist. From
2010 to 2013, Slim was ranked as the richest person in the world. Known as the
"Warren Buffett of Mexico", he derived his fortune from his extensive holdings in a
considerable number of Mexican companies through his conglomerate, Grupo Carso.
As of 3 November 2015, he was #2 on Forbes list of billionaires, with net worth
estimated at US$77.1 billion.
Slim is the chairman and chief executive of telecommunications companies Telmex and América Móvil, Latin
America's largest mobile-phone carrier, which accounted for around $49 billion of Slim's wealth by the end of
2010.
Slim's total conglomerate comprises a diverse portfolio of businesses from a wide array of industries that
include telecommunications, education, health care, industrial manufacturing, food and beverages, real estate,
airlines, media, energy, hospitality, entertainment, technology, retail, sports and financial services.
Slim has overseen a vast business empire that is influential in every sector of the Mexican economy and
accounts for 40% of the listings on the Mexican Stock Exchange, while his net worth is equivalent to about 6
percent of Mexico’s gross domestic product.
Early life and Education
Slim always knew he wanted to be a businessman and began to develop his business and investment acumen at
a young age. He received business lessons from his early childhood where his father Julian, often taught the
young Carlos the value of financial literacy, management and accountability, teaching him how to read financial
statements as well as the importance of keeping accurate financial records, a practice that Slim carries on to this
day.
Slim's first investment began at the age of 11, when he invested in a government savings bond that taught him
about the concept of compound interest. He eventually saved every financial and business transaction he made
into his personal ledger book which he keeps to this day. At the age of 12, he made his first stock purchase, by
purchasing shares in a Mexican bank. By the age of 15, Slim had become a shareholder in Mexico’s largest
bank. At the age of 17, he earned 200 pesos a week working for his father's company. He went on to study civil
engineering at the National Autonomous University of Mexico, where he also concurrently taught algebra and
linear programming, which meant that he was both a student and professor.
Though Slim was a civil engineering major because of his fascination for numbers, he also displayed an interest
in economics. He took economics courses in Chile once he finished his engineering degree. Graduating as a
civil engineering major, Slim has stated that his mathematical prowess and his background of linear
programming was a key factor in helping him gain an edge in the business world, especially when reading
financial statements.
Awards and Achievements
➢ Entrepreneurial Merit Medal of Honor in 1985 from Mexico's Chamber of Commerce.
➢ "Gold Patron" of the American Academy of Achievement.
➢ Commander in the Belgian Order of Leopold II
➢ CEO of the year in 2003 by Latin Trade magazine
➢ CEO of the decade in 2004 by Latin Trade magazine
➢ Fundacion Telmex received in 2007 the National Sports Prize of Mexico for sports promotion
➢ In 2008 his philanthropy was recognised with the award of The National Order of the Cedar by the
Lebanese government.
➢ In 2011 the Hispanic Society of America awarded Fundacion Carlos Slim the Sorolla Medal for its
contribution to the arts and culture.
➢ On May 20, 2012. Slim was awarded a Honorary Doctorate in Public Service from George Washington
University.