Gates no longer richest man in the world

[Skylace]

Bill Gates has been usurped by Carlos Slim, a Mexican telecoms tycoon, as the world's richest person, a Mexican financial website has claimed.

Mr Slim, 67, has amassed personal wealth of $67.8bn (£33.6bn), the Sentido Comun revealed in its Who's Who business rich-list published yesterday.

More than half of his wealth can be attributed to his 33pc holding in mobile phone group America Movil, worth $36.2bn.

One of Latin America's most closely watched companies, the shares surged 27pc in the second quarter.

The Forbes Billionaires List, published a month ago, lists Mr Slim as the world's third richest man with a fortune of $49bn, behind Microsoft founder Bill Gates, worth $56bn, and Warren Buffett, worth $52bn.

Mr Slim's fortune, made in Mexico's telecoms, banking, energy and tobacco, was said to have climbed $19bn in just 12 months.

The son of Lebanese immigrants, Mr Slim made his fortune in telecoms but turned to construction two years ago. His infrastructure company, Ideal, is currently working on a $150m project to develop a shopping mall, two schools, a hospital and a park by 2010 in Mexico City.

Mr Slim's fortunes stands in stark contrast to much of the rest of Mexico's population. According to the World Bank, the average income, per capita in Mexico is $7,310 and it estimates that more than 45pc of the population were living in poverty in 2005.

Mr Slim has pledged $4bn into philanthropic foundations, while Mr Gates and Mr Buffett have donated tens of billions of dollars. In March, Mr Slim said in a public appearance that ventures such as Ideal can help fight poverty more effectively than charity.

Sentido Comun said there were 38 Mexican businessmen or families that are worth more than $500m.

[eefanincan]

How sad for Bill Gates

[Mandy]

I am sure his "clients" (who are probably in debt) are very grateful that he has managed to accumulate this wealth from their borrowings.

[SpursFan1902]

Guess it feels better to give his money to charity than to be #1....Good for Mr Gates. Now on to more important matters....is this new Mr #1 married???