Carlos Slim invested $1bn in 2024 to supercharge oil bets
Business Standard|December 31, 2024
Carlos Slim (pictured), Latin America's richest man, plowed $1 billion this year into growing his crude-oil producing and refining portfolio in a bet that demand for fossil fuels isn't going away anytime soon.
Carlos Slim invested $1bn in 2024 to supercharge oil bets

Slim, 84, made his fortune largely by building the telecom behemoth America Movil SAB, but has diversified in recent years into other assets including the oil investments, real estate in Spain and a new stake in the UK's BT Group Plc.

Through his family investment office Control Empresarial de Capitales, Slim invested $602 million in US refiner PBF Energy Inc, according to regulatory filings, boosting his stake to 25 per cent. He also bought $326 million worth of shares in Houston-based oil producer Talos Energy Inc.

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