the annual Forbes billionaires list puts Carlos Slim Helu just ahead of Bill Gates, who held the title for 14 of the past 15 years.
Shares of Slim’s telecommunications company America Movil surged 35 percent over the year, bringing his fortune up $18.5 billion in the past 12 months to $53.5 billion, according to the Forbes rich list released Wednesday.
Gates is worth $53 billion, up $13 billion from a year ago. Warren Buffett – the world’s richest man in 2008 – now ranks third, with his fortune growing $10 billion over the year to $47 billion.
Slim, 70, is the first man from a developing nation to become the world’s richest person, but is only the tip of the iceberg for poorer nation's billionaires as America's share of billionaires dropped to 40 percent from 45 percent of the total a year ago.