Carlos Slim, World’s Richest Man, Gets Richer Supplying ‘Obamaphones’ to Poor | Fox News
A Mexican telecom mogul who holds the title of world's richest man,
and one of President Obama's top donors are both getting even richer
from the U.S. government program that supplies so-called "Obamaphones"
to the poor.
Carlos Slim, who has an estimated net worth of $70 billion, owns a
controlling stake in TracFone, which makes $10 per phone for each device
it provides to poor Americans. The company, whose president and CEO is
Frederick “F.J.” Pollak, also makes money from extra minutes and data
plans it sells to subscribers who get phones and service through the
government's Lifeline program. The program, which began in the
mid-1980s, has exploded in the past four years after being expanded from
supplying landlines to the poor to providing cellular phones.
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