Carlos Slim to Acapulco’s rescue -

Carlos Slim to Acapulco’s rescue

The world’s richest man is funding the dilapidated city’s revitalization

Carlos slim to Acapulco’s rescue

John Moore/Getty Images

John and Jackie Kennedy honeymooned in Acapulco in 1953, and Liz Taylor married one of her husbands there. It was the golden era of Hollywood visitors. Fast forward and today Acapulco is filled with dilapidated mansions and military patrols: 900 people were killed in the city last year alone, triple the number of murders in 2010. This is due to drug-related violence spinning out of control; the latest gory news was the nine taxi drivers and three passengers killed by gunmen last month. Now Carlos Slim, Mexico’s telecom tycoon and the world’s richest man, according to Forbes, is coming to the rescue, donating an undisclosed amount of money to the town and presiding over a council to fund new hotels, improve the transportation system, and promote a rebranded Acapulco. Saúl Campos, a manager at the five-star Copacabana, welcomes Slim’s announcement. “It was about time someone paid attention to us,” he says, adding hotel occupancy has dropped to 20 per cent. Slim believes Acapulco deserves a second chance, but will his Midas touch work?