Mexican billionaire Carlos Slim is now The New York Times' largest shareholder

Ranked by Forbes as the world's second-richest person, the business magnate Carlos Slim now owns 27.8 million Class A shares, or 16.8 percent, of The New York Times Co., and is the largest holder of the newspaper company's publicly traded shares.

According to Fox News, Slim, who has garnered an estimated $72 billion through the acquisition of various companies, lent The Times $250 million when the recession brought hard times upon the print media industry. The Times refinanced the loan and paid it back early, but Slim used about $100 million to exercise warrants he received from his investment and bought more than 15 million shares for about half of what they were worth.