Mexican Carlos Slim world’s richest in new ranking

NEW YORK, March 13, 2010;- Mexican tycoon Carlos Slim has dethroned Microsoft founder Bill Gates as the world wealthiest person and China is fast catching up with the number of US billionaires on the annual Forbes rich list.

The new annual list saw the 70-year old Slim catapult from third place last year to the top spot, thanks to the success of his America Movil company, Latin America’s biggest mobile phone operator.

Slim’s fortune was estimated at 53.5 billion dollars, according to Forbes, which said his wealth increased by 18.5 billion in 12 months.

Gates, 54, slipped to second place with 53 billion dollars while American super investor Warren Buffett was third with 47 billion dollars.

The United States remained by far the dominant home of the super-rich, with 403 billionaires, or 40 percent of the world’s ten-figure fortunes, down from 45 percent.

China moved up to second place with 64 billionaires, including 27 newly minted ones, including Hong Kong, China has 89 billionaires.

Share in Slim’s America Movil, of which he owns a 23-billion-dollar stake, have gained 35 percent in a year. Slim learned his business acumen from his father, a Lebanese immigrant, who gave each of his children a savings book to manage income and expenses.

He studied civil engineering and later built up the telephone monopoly Telmex after acquiring it from the government in 1990.

A widower with six children, Slim has handed over the daily operations of his companies to his three sons and business partners but remains a well-known public figure in Mexico.

He has recently made investments in telecommunications across the Americas, and have diversified his holding in areas of water and electric utilities.

Forbes counted 1,011 billionaires from 55 countries, up from 793 last year, though still below the pre-crisis 1,125 listed in 2008.

Gates’ worth has increased from an estimated 40 billion dollars last year.

- AFP