Carlos Slim, world’s richest man, gets richer supplying ‘Obamaphones’ to poorMyFoxDCOct. 12, 2012 |
Claim Jewish Student Was 'Stabbed In The Eye' by Pro-Palestine Protester Draws Mockery After Video Released
Senate Passes $95B Giveaway to Israel, Ukraine, and Taiwan, Combined With TikTok Ban
Biden Signs Bill to Give $95B to Israel, Ukraine and Taiwan, Ban TikTok
Mistrial Declared in Case of Arizona Rancher Accused of Killing Migrant Trespasser
Sen. Hawley: Send National Guard to Crush Pro-Palestine Protests Like 'Eisenhower Sent the 101st to Little Rock'
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. Read More |