Rich pickings for Mr Slim
Bill Gates appears to have been deposed as the world's richest man by Mexican tycoon Carlos Slim.
A jump in the share price of his mobile firm, America Movil, has apparently seen Mr Slim leapfrog the Microsoft boss.
He made his money in telecommunications and controls Mexico's largest fixed-line telephone company. He has expanded into other businesses including everything from construction and music to restaurants and cigarettes.
At the last count, Mr Slim was worth a staggering $67.8 billion - which accounts for nearly 8 per cent of Mexico's Gross Domestic Product.
Forbes magazine reported in April that Mr Slim had moved past US investor Warren Buffett to become the world's second-richest man, with a fortune estimated at just over $53bn.
A strong Mexican equities market and the performance of his wireless telephone company has now pushed him past the great Mr Gates who had been sitting pretty at the top of the billionaire pile for some time.
A spokesman for Mr Slim told reporters that his boss did not pay any attention to such lists.
© Independent Television News Limited 2007. All rights reserved.
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