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Wednesday, October 10, 2012

World’s Richest Man Gets Richer Supplying ‘Obamaphones’ to Poor

A Mexican telecom mogul who holds the title of world's richest man, and one of President Obama's top donors are both getting even richer from the U.S. government program that supplies so-called "Obamaphones" to the poor.
Carlos Slim, who has an estimated net worth of $70 billion, owns a controlling stake in TracFone, which makes $10 per phone for each device it provides to poor Americans. The company, whose president and CEO is Frederick “F.J.” Pollak, also makes money from extra minutes and data plans it sells to subscribers who get phones and service through the government's Lifeline program. The program, which began in the mid-1980s, has exploded in the past four years after being expanded from supplying landlines to the poor to providing cellular phones.


Anonymous said...

Give him a break -- how else are the poor going to find out which supermarket has the best deal for food stamps?

Anonymous said...

by the way. hugo chavez won by a narrow margin by giving away "free" everything and of course cheating. sound familiar..?

Anonymous said...

It's the right of every citizen to recieve from the government free cell phones. How else are you going to get a hold of your crack dealer...These people will go across town to get free cell phones but will not go 100 yards to get a voter ID card. Whatever. Oh yeah, I forgot, having a fair and honest election is racist.