News

Want a 3-day work week? Here's the catch

Guess what, job holders? The richest man in the world thinks you're working too much.

Carlos Slim, the Mexican telecom tycoon worth over US$80 billion (S$101.8 billion), believes life will be so much better with a three-day work week.

But there's a catch.

If Slim, 74, had his way, people would also work longer days. He suggested 11-hour shifts and pushing the retirement age to 75.

"You should have more time for you during all of your life - not when you're 65 and retired," Slim told CNNMoney's Christine Romans on Tuesday.

The self-made billionaire did not specify if wages should stay the same or decrease to reflect less time on the job, newspaper Daily Mail said.

 

He wants to trim the weork week to three days. Here's the catch.

Mexican billionaire Carlos Slim wants to trim the work week to three days. Do you agree? Photo: AFP

Slim raised eyebrows in July this year, when he called for a three-day work week.

"I am sure it will happen," the 74-year-old told CNNMoney, though he conceded he's not sure when.

While "machines should work 24 hours and services should work as much as possible," Slim said people deserve more time for entertainment, family and to train for better jobs.

He also believes the radical change would give younger workers more opportunity to enter the workforce: A positive thing for the economy and financial markets.

"It's a society of knowledge and experience. You have better experience and knowledge when you are 60, 65 and 70," he said.

Net worth

Forbes estimates he is worth about US$83 billion.

He has been alternating the crown for the world's richest man with Microsoft founder Bill Gates, whose wealth is valued at nearly US$81 billion.

Slim got into investing before he even entered high school, buying his first bond at just 12 years old and stocks a year or two later.

Sources: CNN, Mail Online

Related report: Want a better quality of life? Work three days a week, says world's richest man 

UncategorisedRich People