Mexican businessman Carlos Slim could soon become the largest shareholder of the New York Times, according to that reported on Tuesday by the Boston Globe.

The New York Times, published by the Ochs-Sulzberg family since 1896, received a loan of $250 million early in 2009 to “help the newspaper improve its finances”. Since then, his investments in the news company have continued to grow.

According to the Boston Globe, Slim would double his investment if he were able to get a hold of 17% of the Class A shares of the Times Company, valued at approximately $349 million. Despite the huge purchase, decisions would continue to be made by the Ochs-Sulzberg family. This family owns the Type B shares, which are not listed in the exchange market, and enable it to control the board and choose two out of every three of its members.

Currently, Carlos Slim is the second richest person in the world thanks to his businesses in the telecommunications, technology or finance fields. At the end of 2014, Forbes valued his fortune at $72.6 billion.