Carlos Slim becomes New York Times’ largest shareholder
*The second richest man in the world now owns largest chunk of the New York Times. Thought you might want to know. VL
NEW YORK (AP) – The New York Times Co. says Mexican billionaire Carlos Slim is now the largest holder of its publicly traded shares.
The business magnate, who built his fortune by amassing a range of retail, industrial and telecom companies, is ranked by Forbes as the world’s second-richest person with an estimated net worth of $72 billion.
Slim lent the newspaper company $250 million at the height of the recession, as print advertising sales dropped across the industry and the company slashed staff and sold off most of its midtown Manhattan headquarters to raise cash. New York Times later refinanced the high-interest loan and paid it off three years early.
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