Carlos Slim is at it again, re-iterating his proposal for a three day work week that encourages people to enjoy life more while they are young and work until 75 years old.
Carlo Slim on how Latinos can better economic succeed
Speaking at a religious conference, the Catholic Association of Latino Leaders, Carlos Slim, the second richest man in the world worth $78 billion, gave advice on how Latinos can better economically succeed.
“What is important is that people earn more and that more middle classes are formed,” Slim was quoted as saying in a press report. A capitalist and activist who generated most of his wealth from America Movil, a near monopoly in the cellphone service business in Latin America, Slim’s foundation unveiled “Acceso Latino,” a free website created to provide U.S. Latinos easy access to tools and content about education, health care, job training, culture and other areas, the report said. Another press report out last month said Slim was laughing at Mexican government attempts to break up his business Monopoly in the country.
Carlos Slim: Countries need to strengthen the middle class during an economic crisis
Carlos Slim said during times of economic crisis, countries need to focus on strengthen the middle class and bolster education and health care systems. While such rhetoric sounds appealing, one Latino businessman in the audience called for concrete action.
Martin Cabrera, the CEO of a Chicago-based investment firm who traveled to Mexico to attended the conference, called on Slim to assist in helping small and mid-sized Latino businesses to obtain financing and investment. He said there are multibillion-dollar pension funds that have investment arms providing financing to startups and other companies, but “the amount of business they are doing with Latino (firms) is close to zero.”
Cabrera seeks Carlos Slim’s help
Cabrera wants Carlos Slim to help idenitify the next Latino Facebook or Google to provide financing and management assistance. Cabrera called on Slim to use his influence to develop a dialogue with these pension funds and their investment arms to open their wallets, where it really matters, and see the potential of investing in Latino-owned businesses.
Last month ValueWalk reported on Carlos Slim’s call for people to work less and enjoy life more while they are relatively young, an appealing notion. Unlike other billionaires who simply called for people to work less, Slim said the trade off was working longer and foregoing a retirement until 75 years of age.