Mexico president blasts business chiefs, except ‘friend’ Slim

“Mafia of power” and “influence peddlers” are some of the labels used by President Andres Manuel Lopez Obrador for Mexican business leaders, except for one -- Carlos Slim, Latin America’s richest man.

The leftist president, who took office in 2018 promising to break with “neoliberalism,” on Monday described the 81-year-old magnate as a “friend” and “a good businessman who contributes to the development of the country.”

Lopez Obrador had breakfast with Slim at the National Palace and underscored the fiscal contribution of America Movil, Latin America’s largest telecommunications firm and the flagship of Slim’s empire.

America Movil paid taxes of 28 billion pesos ($1.35 billion) in Mexico on December 16 after selling a subsidiary in the United States, Lopez Obrador tweeted along with a photo of Slim.

The president has a long-standing relationship with the tycoon, who with his family was worth an estimated $83.8 billion as of Monday, according to the Forbes magazine website.

He brought Slim on board his flagship project, the Maya tourist train, and the magnate’s foundation supported the production of the AstraZeneca coronavirus vaccine in Mexico.

Slim’s construction company, Carso, built the elevated section of the Mexico City metro that collapsed in May, killing 26 people.

The businessman, who at one time was the world’s richest man, promised to pay for the reconstruction in full.

Carso told investors that the cost would be around 800 million pesos, no more than one percent of its annual revenue.

The paths of the politician and the businessman crossed when Lopez Obrador was mayor of Mexico City from 2000 to 2005 and Slim invested in development projects in the capital’s historic center.

“They’ve been getting along for 20 years,” said Jorge Castaneda, a former Mexican foreign minister.

“Lopez Obrador is too shrewd to take on the most powerful man in Mexico,” he said.

A person close to Slim described the relationship as “institutional.”

Lopez Obrador’s relationship with Slim has not been entirely smooth.

After coming to power, Lopez Obrador canceled the construction of a half-finished new airport for Mexico City.