Wealth Blog

Finance Blogs » Wealth » The next emerging market?

The next emerging market?

By Judy Martel · Bankrate.com
Friday, February 4, 2011
Posted: 3 pm ET

Want to invest like a billionaire? You could follow the lead of Mexican billionaire Carlos Slim, the world's richest man for the second year in a row, according to Bloomberg. Worth about $70 billion, he once again beat out Warren Buffett and Bill Gates for the top spot. Last year, Forbes crowned him the world's richest.

Some investment experts predict that Mexico, with its trove of underground metals and rising consumer spending, will become a new emerging market hot spot, as investors start to feel crowded out of previous emerging strongholds like Brazil and China.

The bulk of Slim's assets are in his home country, with a scant $500 million of his fortune invested in the U.S. His Mexican assets include wireless carrier American Movil SAB, which represents nearly $50 billion of his wealth. His holding company, Grupo Carso SAB, nearly doubled in 2010, and was his best performing asset.

His American investments include a stake in Saks Fifth Avenue department store (up 64 percent) and New York Times (down 21 percent.)

Reportedly, Slim plans to continue his winning streak this year by investing in Mexican telecommunications, mining and infrastructure.

Do you think Mexico is becoming the emerging market to watch, and will you invest south of the border this year?

Keep up with your wealth and follow me on Twitter.

Get more news, money-saving tips and expert advice by signing up for a free Bankrate newsletter.

«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.