New York, USA.- Carlos Slim, Latin America’s richest man, took advantage of the stock market sell-off to increase his majority stakes in two US energy companies.
Slim’s Control Empresarial de Capitales SA spent $24.2 million in the first two days of this month to acquire 923,000 shares of Talos Energy Inc and 357,000 shares of PBF Energy Inc, according to regulatory filings.
The Mexican billionaire’s stake in the companies increased to 21.3 and 15.5 percent, respectively.
The investments add to a buying spree this year for the Slim family, which continues to pour money into bets on oil exploration, production and refining both at home and across the U.S. Gulf of Mexico.
Before the latest purchases, his family holding company had already spent $500 million this year to acquire shares in US energy producers.
PBF is a refiner based in New Jersey, while Houston-based Talos is also associated with Slim in Mexico.
Slim, who was briefly the world’s richest man more than a decade ago, has seen his net worth shrink 19 percent so far this year, partly driven by the fall of the Mexican peso.
After surpassing $100 billion for the first time in December, his fortune now stands at $85.1 billion, according to the Bloomberg Billionaires Index.
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