9/9/06

Mexican Tycoon to Give Away Part of Fortune

Mexican billionaire Carlos Slim, the world's third-richest man, will give away a chunk of his fortune by matching donations to health, education and social programs in Mexico, a close aide said on Wednesday.

Slim, who owns a telecoms and retail empire and has a fortune estimated at over $30 billion, will meet all contributions dollar for dollar, said Arturo Elias Ayub, his spokesman and aide.

"We want to offer Mexican or foreign foundations that we will match any amount they invest in social work in Mexico," Elias Ayub told Reuters. It was unclear how much Slim's donations might ultimately total.

"The idea is social programs focused on real needs: education, health, nutrition, research," he said.

Slim is No. 3 on the Forbes list of the world's wealthiest people, behind Microsoft Corp. founder Bill Gates and investor Warren Buffett, who made his billions with insurance and investment company Berkshire Hathaway Inc.

[Reuters]

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