Mexico's richest man lives a surprisingly frugal life for a billionaire. Take a look at the life of Carlos Slim, who owns Sears Mexico and has lived in the same house for 40 years.

He's among the 25 richest people in the world.

Bloomberg's Billionaire Index ranks him at No. 24 with an estimated net worth of $43.6 billion, while Forbes put him at No. 21 with an estimated net worth of $51 billion.

Right after Donald Trump's election in November 2016, global markets contracted and the Mexican peso's value fell to a record low, causing Slim to lose more than 9% of his wealth, according to Money magazine.

And in March 2017, Bloomberg reported that no other billionaire had lost more money than Slim during Trump's presidency, which the publication attributed partially to the president's "tough talk" on Mexico.

The coronavirus pandemic has taken yet another toll on the Mexican billionaire's wealth. In early March, he lost nearly $5 billion in a single day on "Black Monday," which was a day of major market losses due to growing global concerns about the coronavirus.

The company reported revenue of $52 billion in 2019.

These interests are controlled through the family business: infrastructure, construction, and energy conglomerate Grupo Carso.

His father taught him to read financial documents and invest at a young age.

Slim spent much of the '60s, '70s, and '80s building a diverse portfolio that now dominates the Mexican economy.

In particular, he took advantage of the Mexican debt crisis in 1982 in order to purchase many deflated companies.

Slim saw the deal as a business venture, rather than a foray into journalism.

In 2018 alone, he sold at least $86 million worth of his shares.

The previous year, he saw his first big success when Grupo Carso went public and led the privatization of state phone company Telmex, per Forbes.

Though Gates is once again richer than Slim and Jeff Bezos reigns as the world's richest person, Slim is the wealthiest person in Mexico by far.

The next-richest person in Mexico is Sara Mota de Larrea, whose $11.1 billion fortune stems from her position as the biggest shareholder in Grupo Mexico, a publicly traded conglomerate founded by her late husband that has a lucrative mining division.

As The Guardian reported in 2017, "It is sometimes hard to tell where Carlos Slim stops and Mexico City starts."

"His telecoms company, Telmex, installed the city's surveillance cameras," De Jong continued. "Grupo Carso, his flagship infrastructure conglomerate, runs the city's principal water treatment plant. His bank, Inbursa, is Mexico's."

Source: The Guardian

But the billionaire doesn't let criticism bother him: "When you live for others' opinions, you are dead," he said. "I don't want to live thinking about how I'll be remembered."

His wealth has granted him political influence to the extent that, for the most part, the Mexican government turns a blind eye to the dominance he has over the telecom industry.

"The compromise is the challenge of solving Mexico's problems," he told Forbes in 2012. "I'm trying to make our country better in the areas that I can."

"Poverty isn't solved with donations," he told Forbes in 2012. "The establishment of business is more beneficial to society than going around like Santa Claus."

Most of his money goes towards further investments in business or philanthropy, though he does reportedly have a set of hand-carved and blown Baccarat wine glasses that were owned by the previous president of Mexico.

Tim Padgett, who interviewed Slim for Time magazine, said, "Just by looking at him, you would never know he is a billionaire."

Source: Business Insider, Bloomberg, Curbed

But in 2016, it was taken off the market with no sale recorded.

She passed away in 1999 due to renal failure. The couple has six children, who will inherit Slim's empire.

At one point, it housed the largest private Rodin collection in the world.