Carlos Slim, world’s richest man, gets richer supplying ‘Obamaphones’ to poorMyFoxDC
Oct. 12, 2012
Muslim Woman Arrested For Setting Fire To Iowa Mosque She Attended
Trump Skips Ramadan Dinner For The First Time In Nearly Two Decades
Polish MP Schools BBC Host On Refugees: 'How Many Terror Attacks Have You Had In London?'
How Big Pharma Is Profiting Off Transgender Mania
Poll: 64% Say Russia Investigations 'Hurting Country,' 56% Say 'Time to Move On'
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.