Health and philanthropy—the tobacco connection
Source: www.thelancet.com Author: Simon Chapman On June 14, the world's two richest men, Mexico's Carlos Slim Helú and the USA's Bill Gates, jointly announced that they would each contribute US$50 million to the Latam health project to increase vaccinations and improve child nutrition and natal health in central America.1 Slim already contributes reputedly $2·5 billion annually to his Instituto Carlos Slim de la Salud, which runs a large variety of health programmes in Latin America.2 The latest announcement will naturally attract widespread acclaim as an outstanding example of philanthropy. But it also invites important questions about consistency and competing interests. Any assessment of Slim's net contribution to public health must balance the impact of his philanthropic contributions as well as the indirect health consequences that flow from his wealth generation with a less appreciated source of his wealth. Descriptions of Slim's vast fortune generally concentrate on his telecommunications empire.3 Relatively little is mentioned about his long-standing majority ownership of the Mexican tobacco company Cigatam,3 which has since 2007 been 80% owned by Philip Morris.4 Slim's website acknowledges that Cigatam “turned out to be the first and most important because of its cash flow, providing the Group with sufficient liquidity to capitalize on available opportunities and thereby increase its acquisitions of big companies”.5 Nor is it as widely publicised that he has a continuing role as a non-executive director6 of the world's largest tobacco company, Philip Morris International (PMI). The company's shareholders doubtless expect him—like all directors—to make a major contribution [...]