March 10, 2010 11:42 PM EST
The world has a new richest man after Bill Gates had safely secured that seat for three consecutive years.
In the 2010 Forbes list of the World's Billionaires, Mexican tycoon Carlo Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person in the world.
Slim's fortune has shot up to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which Slim owns a $23 billion stake, were up 35 percent in a year.
Bill Gates, who held the title of the world's richest man in 14 of the past 15 years, is now ranked second.
The Microsoft founder is now worth $53 billion, up $13 billion from a year ago as shares of Microsoft rose 50 percent in 12 months.
In third place is Buffett with $47 billion, up $10 billion from last year on rising shares of Berkshire Hathaway.
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