This post was written by Staff Writer Geoffrey Middleberg.

One of the world’s richest men graciously accepted the GW President’s Medal earlier this week in recognition of his work in business and community development in Mexico and Latin America.

University President Steven Knapp chose to give the medal to Carlos Slim, a Mexican businessman known for his philanthropic endeavors, after receiving recommendations and input from faculty, staff and other members of the University community. Knapp awarded the medal Tuesday in front of a crowd of about 300 dignitaries, trustees, students and University administrators.

The medal is given to individuals who have exhibited courage, character and leadership in their chosen field, according to a news release. Knapp said he was honoring Slim for his philanthropic work in education, health, sports focused in social support and development, justice, employment, and fine arts.

In remarks at Tuesday’s event, Knapp called Slim, whose net worth is estimated to be $35 billion and is listed as the world’s third richest man according to Forbes magazine, a “leader of enterprise, humanitarian, and a humanist.” In an interview last week, Knapp said the President’s Award was not tied to development efforts.

Education, Slim said at the event, is one of his most important philanthropic causes.

“The welfare of society depends on better education – to create more human capital,” he said.

Slim has donated 100,000 computers to public schools in Mexico, $200,000 in scholarships for students to come to Mexico City for college and 200,000 bikes for children so they have a quicker way to get from home to school and back and can spend more time studying.

“Public education requires the support of the public sector. It is important for public sector, especially in higher education, to provide the educational tools that will allow students to get better jobs when they are done school,” he said.