A Mexican telecoms tycoon has toppled Bill Gates, the Microsoft co-founder, as the world’s richest man after amassing a $67.8bn fortune, reports The Times. Carlos Slim Helú, a 67-year-old turnaround specialist, is now worth $8.6bn more than Mr Gates, according to Sentido Común, a Mexican financial website. The rocketing share price of América Móvil, one of Mr Slim’s telecoms companies, in the three months to June 30 helped to push him into first place. Telmex, another of Mr Slim’s telecoms companies, rose 11 per cent and Grupo Financiero Inbursa, his bank, jumped by more than 20 per cent. The businessman overtook Warren Buffett as the world’s second-richest man in April, according to Forbes magazine.

This entry was posted by Gwen Robinson on Wednesday, July 4th, 2007 at 4:46 and is filed under Capital markets, People. Tagged with Carlos Slim. Edit this entry.