Mexican billionaire Carlos Slim has been actively selling shares of two US oil companies this month, taking advantage of rising crude prices driven by geopolitical tensions involving Iran. The sales have generated over $1.15 billion this year from his holdings in PBF Energy Inc. and Talos Energy Inc.
Despite the significant sales, Slim's remaining stakes in these companies are still valued at roughly the same level as they were at the beginning of the year. This suggests that the increase in oil prices has offset the impact of his share disposals.
The accelerated sales in October come as crude prices have rebounded, boosting the value of Slim's oil-related investments. The Mexican businessman has been strategically capitalizing on market conditions to optimize his portfolio.