Speed Reads

but there's a bright side

No one has lost more money because of President Trump than this Mexican business tycoon

Nobody has lost more money because of President Donald Trump's rise to the White House than Mexican telecom tycoon Carlos Slim, Bloomberg reports. As Mexico's richest man, his personal fortune stood at about $67 billion on June 15, 2015, the day before Trump launched his presidential campaign. His wealth has dropped to about $51 billion since then, because the president's tough stance on trade has hurt the value of the peso and, by extension, Slim's Mexican assets.

There is one upside to that $16 billion loss though, Bloomberg notes: "The very same forces that are shrinking his fortune are, oddly enough, also boosting his popularity at home — to the extent that he is now talked about wistfully as a candidate in next year's presidential election." A January poll by El Universal found Slim is considered the best possible candidate to face off against Trump's aggressive policies toward Mexico, including his aggressive deportation agenda and plans to build a wall along the Mexico-U.S. border, both unpopular actions among Mexicans.

Read more about Slim's "longshot candidacy" for the Mexican presidency at Bloomberg.