Carlos Slim Helú

Meet the most powerful Mexican in the world.

Estimated to be worth $60 billion, Carlos Slim Helú has been a polarizing figure in his native México for decades. Critics call the 68-year-old a shady monopolist who fills his pockets while nearly half of the Mexican population lives in poverty. Admirers call him a savvy businessman, singling out his knack for buying struggling companies and making them profitable. Slim says he doesn't worry about what others think: "When you live for others' opinions, you are dead. I don't want to live thinking about how I'll be remembered."

The son of Lebanese immigrants, Slim built his fortune via Telmex, the telecommunications company that controls over 90 percent of the phone lines in México. Once owned by the Mexican government, Telmex was sold to Slim by now-disgraced ex-president Carlos Salinas de Gortari in 1990. At the time, critics charged that Salinas was selling Telmex to his friend Slim for less than the company was worth. Some assert that Telmex is still a "virtual monopoly" that can charge high rates without competition.

But Slim, who studied engineering at U.N.A.M, controls much more than the phone lines in México. His three sons, Carlos Jr., Marco Antonio and Patrick, oversee the day-to-day operations of several family businesses including retail stores, hotels and restaurant chains. His family's prevalence has inspired the saying: "You can't go a day without putting a peso in Slim's pocket."

In 2007, Slim surpassed Bill Gates to become the world's richest man (he's currently back to number two just behind American Warren Buffet). Slim once poked fun at the philanthropic efforts of fellow billionaires by saying poverty wouldn't be solved by “going around like Santa Claus.” Nonetheless, he is a sponsor of several charities and last year donated $110 million to the ALAS Foundation, a Latin American charity for children championed by artists like Shakira, Juanes and Alejandro Sanz.

His presence outside of Mexico may soon be felt beyond his charitable work. Earlier this week, Slim invested $250 million in the New York Times newspaper and could soon become that company's second-largest shareholder. According to several observers, the tycoon who successfully weathered several financial meltdowns in México is taking advantage of the global economic downturn to pay bargain prices for established brands. A former government official in Mexico reflects: "In moments of crisis he's always been a winner."