As financial markets react to escalating tariff tensions in the United States, Mexican billionaire Carlos Slim has seized the opportunity to bolster his investments in the energy sector. In early April alone, Slim invested over $3.5 million to acquire 208,000 shares of U.S.-based oil refiner PBF Energy, capitalizing on a recent dip in the company’s stock price.
With shares trading between $14.76 and $18.44 during this period, Slim’s move suggests strategic confidence in the company’s long-term prospects. The acquisition was made through his investment firm, Capital Business Control, reinforcing Slim’s growing interest in the oil refining industry. His increased stake places him alongside prominent institutional investors such as BlackRock, Vanguard, and State Street Global Advisors.
In turbulent markets, savvy investors often seek undervalued opportunities—and Slim appears to be doing just that. Since December of last year, his ownership in PBF Energy has risen from 25.1% to 26.7%, now totaling 30.7 million shares. According to filings with the U.S. Securities and Exchange Commission (SEC), his total investment in the company this year has surpassed $43.4 million.
Investment analyst Amín Vera from Invala Family Office notes that recent market declines have created ideal conditions for strategic acquisitions, reminiscent of 2020’s downturn. “When major shareholders increase their stakes significantly, it sends a strong signal to the market that they believe the stock is undervalued,” Vera explains. “Slim is showing his confidence in the company’s rebound potential and likely hopes to attract more investors at current prices.”
Slim, best known for his dominance in Latin American telecommunications, has been gradually diversifying into energy. In 2023, his holding company Grupo Carso invested $125 million to acquire part of the Zama oil field off the coast of Tabasco. Later that year, he paid $530 million for a 50% stake in the Ichalkil and Pokpch oil fields in Campeche.
In a bold move last June, Slim announced a $1 billion investment to revive the long-dormant Lakach natural gas project. Discovered in 2006, development on Lakach had stalled due to Petróleos Mexicanos (Pemex) suspending its partnerships with private firms. After a failed collaboration with U.S. firm New Fortress Energy, Pemex is now set to move forward on the project with Slim as a strategic partner.
Despite overseeing a network of more than 200 businesses, Slim’s fortune has not been immune to broader economic pressures. Forbes estimates his net worth has dropped from $102 billion in 2024 to $82.5 billion in 2025. Nevertheless, he remains the wealthiest individual in Mexico and Latin America.
By strengthening his position in PBF Energy and expanding his influence in oil and gas development, Slim continues to assert himself as a major player in the global energy landscape—demonstrating both resilience and strategic foresight during uncertain economic times.
