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A Mexican telecoms tycoon has toppled Bill Gates, the Microsoft co-founder, as the world’s richest man after amassing a $67.8 billion (£33.6 billion) fortune.

Sentido Comzn, a Mexican financial website, has calculated that Carlos Slim Helu, a 67-year-old turnaround specialist, is worth $8.6 billion more than Gates.

The rocketing share price of Amirica Msvil, one of Slims telecoms companies, helped to push him into first place, according to Sentido Comuns founder Eduardo Garcia.

Mini Biography of Carlos Slim Helú:

Carlos Slim Helú, born January 28, 1940 in Mexico City, is a Mexican businessman of Lebanese descent. Slim has a substantial influence over the telecommunications industry in Mexico and in much of the rest of Latin America as well. He controls Teléfonos de México (Telmex), Telcel and América Móvil companies. Though he maintains an active involvement in his companies, his three sons Carlos Slim Domit, Marco Antonio Slim Domit and Patrick Slim Domit and his son in law Daniel Hajj Aboumrad, head them on a day-to-day basis.

Carlos Slim’s Full Biography | Mexican ‘world’s richest person’ (from BBC) | Forbes’ List of Billionaires (2007)