GEO Group Inc premium boosts cash-out window! Latin America's richest man Slim reduced his holdings in oil companies PBF (PBF.US) and Talos (TALO.US), pocketing over $500 million.

With the escalating political tensions fueling gasoline prices, the stock prices of American oil companies have recently surged. Latin America's wealthiest man, Carlos Slim, and his family are pocketing the profits from these companies. According to data compiled by the market, the Slim family's investment vehicle, Control Empresarial de Capitales, has sold approximately $497 million worth of PBF Energy Inc. (PBF.US) stock this year. During the conflict between the US and Iran, this refinery's stock price nearly doubled, prompting the family to reduce their stake by over one-third. The family also cashed out nearly $40 million worth of stock in Houston-based Talos Energy Inc. (TALO.US). Regulatory filings show that the company's stock price hit a three-year high in March, which was also the family's largest month of trading for PBF Energy this year. "These companies have performed well, but our holdings have become too large, and now it's time to sell and profit at a good price," said Carlos Slim's son-in-law and spokesman Arturo Elias Ayub in a telephone interview. "This does not mean that the strategy has changed." According to the Bloomberg Billionaires Index, Slim has amassed a fortune of $132 billion, making him the richest man in Latin America. His wealth primarily comes from the telecom giant Amrica Mvil SAB de CV. In recent years, the 86-year-old Mexican mogul has shifted more of his wealth towards oil and gas companies, making him one of the largest private investors in the country's energy sector. Slim has been investing in the energy sector for over a decade. Even after this divestment, he remains a major shareholder in PBF and Talos, with a combined stake value exceeding $1.3 billion, according to the Bloomberg Billionaires Index. His wealth has increased by nearly $21 billion this year, partly due to the continued growth of his telecommunications conglomerate despite increasing competition in Latin America's largest mobile operator market. His other investments include the banking and insurance company Grupo Financiero Inbursa, and the Spanish real estate company FCC. Selling off Talos and PBF "Taking gains off the table" Affected by the disruption of the global supply chain due to the Middle East conflict, the stock prices of Talos Energy and PBF Energy have both risen by over 30% this year. With the US-Iran ceasefire negotiations and the high oil prices retreating, the Slim family chose to "take gains off the table." The family had increased its holdings in these two companies multiple times last year, exemplifying their successful grasp of commodity cycles. Talos Energy is an independent upstream oil and gas exploration and production company headquartered in Houston, founded in 2011, operating in the US Gulf of Mexico and offshore Mexico. Its business model is typical "E&P" (exploration and production), where it drills its own wells...