Mexican business tycoon Carlos Slim has severed ties with Elon Musk’s Starlink following a public dispute triggered by a post on X. The controversy began when Musk reposted a message from an account named @WallStreetMav, which accused Slim of having connections to drug cartels in Mexico. The post referenced a New York Times article, suggesting that Slim’s wealth was linked to these alleged ties. Musk’s repost, accompanied by a magnifying glass emoji, hinted that the claims deserved further scrutiny.
In response to the fallout, Slim’s telecom giant, América Móvil, announced a $22 billion investment over the next three years to develop its own independent infrastructure. This decision aims to strengthen the company’s position in Latin America’s competitive telecom market. América Móvil’s CEO, Daniel Hajj, confirmed the termination of its partnership with Starlink during a recent analyst conference.
Carlos Slim is a Mexican billionaire worth over $70 billion. He is the largest shareholder in publicly traded shares of The New York Times.
He also is known to have significant ties to the drug cartels in Mexico. You don’t become a billionaire in Mexico without being part of the… https://t.co/9JelksZRJA
— Wall Street Mav (@WallStreetMav) January 23, 2025
Slim also revealed that the $22 billion originally planned for Starlink projects would now be allocated to companies in China and Europe
The move has significant financial implications for Musk, with estimates suggesting a loss of nearly $7 billion. América Móvil, the seventh-largest mobile telecom operator globally, had previously explored partnerships with Starlink and AST SpaceMobile to enhance satellite connectivity in rural areas. The company’s CFO, Carlos García Moreno Elizondo, emphasized the importance of improving service quality and reducing costs through such collaborations.
— Elon Musk (@elonmusk) January 23, 2025
Carlos Slim, with a net worth of around $82 billion, is one of the world’s richest individuals. His conglomerate, Grupo Carso, oversees major companies like Telmex, América Móvil, and Grupo Financiero Inbursa. The decision to end the Starlink partnership underscores the competitive nature of the telecommunications industry and the challenges of maintaining global business alliances.
