Report: Bill Gates no longer richest man

MEXICO CITY, July 4 (UPI) -- A Mexican telecommunications tycoon has surpassed Bill Gates as the world's richest man by $11 billion, a Mexican financial Web site claims.

The Sentido Comun site said the wealth of Carlos Slim, 67, has shot past the founder of Microsoft's most recent report of $56 million to at least $67.8 billion.

In its Who's Who list published Tuesday, the respected site said Slim's wealth surged based on his 33 percent holding in mobile phone group America Movil, which alone is worth $36.2 billion.

While Slim was ranked third richest man just a month ago by the Forbes Billionaires List after Gates and Warren Buffett at $52 billion, the latest news ranks Slim first, Gates second and Buffett third, a correspondent for The Telegraph reported.

Slim's other ventures include banking, construction, energy and tobacco, the report said.