Mexico City, Mexico — Mexico’s Carlos Slim is donating money of his own while also offering to match public donations 5 to 1.
The Mexican billionaire is donating $110 million USD to help with recovery efforts after Mexico’s earthquakes in September. He is also offering to match a 5 to 1 donation for any others who wish to help with recovery. His offer, which expires October 7, has been met with great enthusiasm by numerous companies and celebrities.
Formula 1 driver, Sergio Perez asked fans to donate to his foundation which was then passed on to Slims. Perez raised 9.6 million peso, which Slim matched with his own 48 million. Other companies include Grupo Herdez, who donated 9 million peso.
Musician such as Mana and Placido Donimgo also donated money, and when matched with Slim’s, raised another $1.2 million USD.
In his offerings, Mr. Slim attracted more than 217,000 donors who contributed $21.1 million USD. Combined with his donation, Carlos Slim rasied a total of $130 million USD for the country’s restoration projects that include everything from private homes, healtcare centers and public schools to historical monuments and infrastructure.
Aside from the cash raised, his foundation donated 125 tons of relief supplies in affected states. The Mexican government says complete restoration will cost around $2 billion USD or 38 billion peso.
According to Bloomberg’s Billionarires Indes, Carlos Slim is worth an estimated $62.6 billion USD. One of his main enterprises is his company, Telmex.
In a press conference Tuesday, Carlos Slim said that the earthquake will generate growth opportunities, adding that the reconstruction from the earthquakes will create jobs and spur growth.