Billionaires went head-to-head in a battle of business titans. Carlos Slim, one of the richest men in the world, and Elon Musk, CEO of Tesla, were once potential allies. Their deal would have changed the game in Latin America. But things took a turn when Musk made some comments about Mexico. Slim wasn’t happy.
Their plan was to team up and offer internet services in areas where traditional infrastructure couldn’t reach. Slim’s company, América Móvil, would provide the network, and Musk’s Starlink would offer satellite internet. It was a win-win. But when Musk spoke out against Mexico, Slim backed out. The deal fell through, and Musk lost around $7 billion.
A New Player Enters the Scene
Slim decided to invest $22 billion in his own network instead of partnering with Starlink. This move will help him strengthen his telecom services and reduce his reliance on external satellite services. Experts say this is a big shift in the Latin American market, where companies are fighting for control.
The feud between Slim and Musk started when Musk made some negative comments about Mexico. Slim didn’t take kindly to it. Things got worse when Musk tweeted something that suggested Slim had ties to organized crime. Slim didn’t wait long to respond. He announced that he would be taking his business (and $22 billion investment) elsewhere – to companies like AST SpaceMobile, as well as firms in China and Europe. Musk lost a key partner in 25 countries.
War of the Titans
The competition is heating up with the launch of Starlink Mini, Musk’s satellite internet service. It promises high-speed connectivity in remote areas. Slim is fighting back by offering free internet and extra benefits to his customers. This includes services like Claro Video and Paramount+ at no extra cost.
The battle between these two billionaires puts Mexico in a tough spot. With Trump’s tariffs looming and Musk’s negative comments, foreign investments might suffer. But this war could also lead to better communication services in the country. Starlink is already available, and Telmex is planning to improve its infrastructure to compete.