In a significant business development, Mexican billionaire Carlos Slim has decided to cancel his collaboration with Elon Musk’s Starlink. The decision comes after a series of tensions between the two magnates, culminating in Slim’s choice to invest in his own infrastructure rather than relying on Starlink’s satellite technology.
Slim’s company, América Móvil, announced plans to invest $22 billion over the next three years to enhance its telecommunications infrastructure. This move is seen as a strategic effort to strengthen its position in the market and reduce dependency on external partners like Starlink. The decision is expected to have a substantial financial impact on Musk’s company, which had anticipated a lucrative partnership in Latin America.
The fallout between Slim and Musk was further exacerbated by a controversial tweet from Musk, which implied connections between Slim and organized crime. This accusation, although unproven, added fuel to the already strained relationship between the two business tycoons.
By opting to develop its own infrastructure, América Móvil aims to maintain control over its operations and ensure the reliability of its services. This decision marks a significant shift in the dynamics of the telecommunications industry in Latin America, highlighting the competitive nature of the market and the strategic maneuvers of its key players.
Elon Musk shared a post on his social network stating that Slim could have ties to criminal groups, and five minutes later, Carlos Slim canceled all business collaborations with Starlink in Latin America, which made Musk lose 7 billion US dollars.
An hour later, Slim announced that he would transfer his projects for the next 5 years with Starlink, an investment of 22 billion dollars, to companies in China and Europe.
More than money, Musk lost his main partner in 25 countries, in addition to giving up all that territory to companies of his competition and, most seriously, causing the USA to continue losing commercial presence and giving it to China.
Source: Milenio
