Bill Gates No Longer World's Richest Man

Joined Nov 12, 2008
MEXICO’S Carlos Slim beat Bill Gates and WarrenBuffett for the top spot on Forbes magazine’s annual list ofbillionaires, becoming the first person from outside the United Statesto lead the rankings in 16 years.

The net worth of Slim, 70, who built a telecommunications empireafter buying Mexico’s state-run phone monopoly two decades ago, roseUS$18.5 billion to US$53.5 billion. Gates, 54, chairman of MicrosoftCorp., fell to second as his net worth increased US$13 billion to US$53billion. Buffett, 79, chairman of Berkshire Hathaway Inc., was thirdwith US$47 billion, a rise of US$10 billion.

Slim is the first person other than Gates, last year’s richestperson, or Buffett to top the list since 1994, which was also the lasttime a billionaire from outside the United States led the ranking:Japanese real estate tycoon Yoshiaki Tsutsumi.

More than 80 percent of Slim’s holdings are held in five publicstocks. Mexican shares of America Movil SAB, the wireless carriercontrolled by Slim, have gained more than 56 percent in the past year,according to Bloomberg data.

China now has more billionaires than any other country besides theUnited States, according to the magazine, with a total of 64 people inthat bracket on the mainland.

According to Forbes, the world now has 1,011 billionaires.
Joined Feb 12, 2008
i just completed a company analysis of America Movil for our school's investment fund
Joined Nov 8, 2007
Eve was me to eat some forbidden fruit with her, should I do it?
I know God would be pretty mad at us if we did.
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