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Mexican billionaire Carlos Slim mocks Gates, Buffett
Submitted on 03/16/2007
The world's third-richest man, Mexican telecom magnate Carlos Slim, poked gentle fun at the philanthropy of Bill Gates and Warren Buffett, and said businessmen can do more good by building solid companies than by "going around like Santa Claus" donating money.
Slim on Monday announced a new $450 million foundation for health research and care - a minor slice of his estimated $49 billion fortune.
But Slim said he had no interest in competing with Gates and Buffett, who lead him on the Forbes magazine's list of the world's richest and have donated much larger shares of their fortunes. Slim is gaining rapidly on the two heavyweights with a fortune that grew by $19 billion last year - the largest wealth gain in the past decade tracked by Forbes.
"Our concept is more to accomplish and solve things, rather than giving; that is, not going around like Santa Claus," said Slim, as he cracked jokes, smoked a cigar and outlined business plans at a rare news conferences. "Poverty isn't solved with donations.
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