Mexico's Carlos Slim is world's richest: Forbes

Carlos Slim Helu

Carlos Slim Helu, who operates the biggest telecommunication network in Mexico and Latin America, has nudged Microsoft founder Bill Gates to top the Forbes magazine's list of the world's richest billionaires, which includes India's Mukesh Ambani and Laxmi Mittal in the top five.

Rising from the third place in the 2009 Forbes ranking, behind Bill Gates and Warren Buffett, the Mexican mogul's net worth rose $18.5 billion to $53.5 billion to make him the richest man on the planet.

This was the first time in the past 16 years that a US citizen has not made to the top slot. Japanese real estate tycoon Yoshiaki Tsutsumi was named the richest man by Forbes in 1994.

Bill Gates, just $500 million short of Slim's net worth, was in the second spot with a net worth of $53 billion, while Warren Buffet, with net worth of $47 billion was in third place.

Bill Gates, whose net worth rose $13 billion in a year, would still be the richest man had he not donated a major part of his wealth to charity. The same holds true for Warren Buffet, who most probably would have been second on the list, had he not to donate money to philanthropic causes.

Forbes ranked India's Mukesh Ambani in the fourth place with net worth of $29 billion and the UK-based Lakshmi Mittal of ArcelorMittal at fifth place with net worth of $28.7 billion.