12 Mar 2025

Billionaire Carlos Slim Cancels Starlink and Takes $22 billion Investment Elsewhere

by Bonnie | | 0

Mexican billionaire Carlos Slim owner of América Móvil, cancelled his intention to work with Elon Musk’s Starlink and decided to develop his own company’s communications infrastructure instead.

The project is expected to span three years. Although Musk’s short term loss is $7 billion, Slim is committing $22 billion to his revised project, for which he plans to engage companies in Europe and China. More importantly, Slim was Musk’s main business foothold in 25 countries which Musk has now ceded to Slim.

Slim’s decision came five minutes after Musk shared a post on his social media platform X (formerly Twitter), which accused Slim, without evidence, of being linked with drug trafficking.

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