Carlos Slim, world’s richest man, gets richer supplying ‘Obamaphones’ to poorMyFoxDC
Oct. 12, 2012
Anti-Trump Lib Called A 'White B*tch,' Robbed For Being A 'Trump Supporter'
Philly City Council Approves Bill Banning Bulletproof Glass From Shops
CNN Staff Heard Cheering Behind The Scenes As Doug Jones Took Lead Over Roy Moore
German TV Show Finds 'Merkel Blocks' Stop Nothing
'Pay Us': Black Women Request Payment For Helping Doug Jones Win Alabama Election
A Mexican telecom mogul who holds the title of world's richest man, and one of President Obama's top donors are both getting even richer from the U.S. government program that supplies so-called "Obamaphones" to the poor.
Carlos Slim, who has an estimated net worth of $70 billion, owns a controlling stake in TracFone, which makes $10 per phone for each device it provides to poor Americans. The company, whose president and CEO is Frederick "F.J." Pollak, also makes money from extra minutes and data plans it sells to subscribers who get phones and service through the government's Lifeline program. The program, which began in the mid-1980s, has exploded in the past four years after being expanded from supplying landlines to the poor to providing cellular phones.