Moguls

Carlos Slim Helu Is World's Richest Man

Knocks out Bill Gates.

Bill Gates' reign as the world’s richest man was interrupted this year as the world’s plutocrats cashed in at a startling rate. Though the Microsoft tycoon has held the title for 14 of the last 15 years, he was overtaken by Mexican telecommunications mogul Carlos Slim Helu, according to Forbes' annual list. Slim, whose $18.5 billion in earnings over the last 12 months catapulted him into first, has reportedly amassed a fortune of $53.5 billion. The growth was due largely to shares of America Movil shooting up 35 percent. Gates, whose fortune is at approximately $53 billion, is a close second after earning $13 billion this year. Warren Buffett is third with $47 billion, $10 billion of which came from a pair of shrewd investments in Goldman Sachs and General Electric during the economic turmoil. "We've put a lot of money to work during the chaos of the last two years," Buffett wrote. "When it's raining gold, reach for a bucket, not a thimble."