facebook
twitter
rss
account
search
search
 

Mexico's Slim tops Buffet as No. 2 richest

April 12, 2007 at 2:29 PM   |   Comments

MEXICO CITY, April 12 (UPI) -- Mexican telecom titan Carlos Slim Helu has quietly slipped ahead of Warren Buffet as the world's second-richest man, Forbes magazine said.

Slim, who controls traditional phone company Telefonos de Mexico, top Mexican cell phone carrier Telcel and its parent, America Movil, is worth $53.1 billion, compared with Buffet's $52.4 billion, Forbes said.

Buffet, the Berkshire Hathaway chief executive, was the world's second-richest man for the past seven years.

Slim, 67, is also close to passing Microsoft Corp. co-founder and Chairman Bill Gates, who is worth $56 billion. Gates, who co-founded Microsoft in 1975, has been the world's richest man for a record 13 years.

Slim's fortune has increased $4 billion since February, as key investment Carso Global Telecom jumped 15 percent, the magazine says. Carso holds stocks of companies including Slim's Telmex, Telcel and America Movil.

Slim's wealth -- in a country whose average income is $6,800 -- is the equivalent of roughly 7 percent of Mexico's annual economic output, the magazine said. Forbes estimated that if Gates had a similar proportion in the United States he would be worth $874 billion.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Continental Resources declares win in Oklahoma basin Continental Resources declares win in Oklahoma basin
2
Maker of Camel cigarettes bans smoking in workplace Maker of Camel cigarettes bans smoking in workplace
3
U.S. oil exports at highest level since 1957 U.S. oil exports at highest level since 1957
4
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
5
More U.S. funding targets solar energy research More U.S. funding targets solar energy research
Trending News
Around the Web
x
Feedback