Bill Gates No Longer World's Richest Man Carlos Slim Helu takes No. 1 spot on Forbes World's Billionaires list as a record 164 10-figure titans return to the ranking amid the global economic recovery.

• Age: 55
• Title: Co-Chair
• Organization: Bill & Melinda Gates Foundation
• Source: Microsoft, self-made
• Residence: Medina, WA
• Country of citizenship: United States
• Education: Dropout, Harvard University
• Marital Status: Married
• Children: 3

Carlos Slim Helu

(TOP 01)

Age: 55
Title:  Chairman of Impulsora del Desarrollo y el Empleo en Am?rica Latina, S.A.B. de C.V. 
Organization: Phillip Morris International Inc.






For the third time in three years, the world has a new richest man.

Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil ( AMX - news - people ), Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World's Billionaires.

Slim's fortune has swelled to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which Slim owns a $23 billion stake, were up 35% in a year.

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That massive hoard of scratch puts him ahead of Microsoft (MSFT - news - people ) cofounder Bill Gates, who had held the title of world's richest 14 of the past 15 years.

Gates, now worth $53 billion, is ranked second in the world. He is up $13 billion from a year ago as shares of Microsoft rose 50% in 12 months. Gates' holdings in his personal investment vehicle Cascade ( CAE - news - people ) also soared with the rest of the markets.

Buffett's fortune jumped $10 billion to $47 billion on rising shares of Berkshire Hathaway ( BRK - news -people ). He ranks third.

The Oracle of Omaha shrewdly invested $5 billion in Goldman Sachs( GS - news - people ) and $3 billion in General Electric ( GE - news -people ) amid the 2008 market collapse. He also recently acquired railroad giant Burlington Northern Santa Fe ( BNI - news - people ) for $26 billion.

In his annual shareholder letter Buffett wrote, "We've put a lot of money to work during the chaos of the last two years. When it's raining gold, reach for a bucket, not a thimble."

Many plutocrats did just that. Indeed, last year's wealth wasteland has become a billionaire bonanza. Most of the richest people on the planet have seen their fortunes soar in the past year.

This year the World's Billionaires have an average net worth of $3.5 billion, up $500 million in 12 months. The world has 1,011 10-figure titans, up from 793 a year ago but still shy of the record 1,125 in 2008. Of those billionaires on last year's list, only 12% saw their fortunes decline.

U.S. billionaires still dominate the ranks--but their grip is slipping. Americans account for 40% of the world's billionaires, down from 45% a year ago.

The U.S. commands 38% of the collective $3.6 trillion net worth of the world's richest, down from 44% a year ago.

Of the 97 new members of the list, only 16% are from the U.S. By contrast, Asia made big gains. The region added 104 moguls and now has just 14 fewer than Europe, thanks to several large public offerings and swelling stock markets.

The new billionaires include American Isaac Perlmutter, who flipped Marvel Entertainment ( MVL - news - people ) toDisney ( DIS - news - people ) for $4 billion last December. The Spider-Man mogul netted nearly $900 million in cash and 20 million shares of Disney in the transaction.

Also new to the ranking: 27 billionaires from China, including Li Shufu, whose automaker, Geely, announced plans to buy Swedish brand Volvo from Ford in December. The deal is expected to close in March 2010.

Finland and Pakistan both welcomed their first billionaires.

For the first time China (including Hong Kong) has the most billionaires outside the U.S. with 89.

Russia has 62 billionaires, 28 of them returnees who had fallen off last year's list amid a meltdown in commodities. Total returnees to the list this year: 164.

*************************************************************************************************************COMMENTS:

         Claiming that Bill Gates is no longer the richest person in the world, it is very amazing to think that even me, myself would become rich too..haha Well that's only my self perception in life. An estimated $53.5 billion, up $18.5 billion in 12 months imagine how big that money is??? Even the total computation of our familys' wages it isn't enough to reach that kind of cost.. Wow!!! it's pretty amazing that Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World's Billionaires.

        But I have to agree, because Carlos has done this phenomenal, through all his own money he has almost rebuilt the entire infrasructure, roads, railways, schools, postal and he gives extraordinary amounts to various charities each year. perhaps it is just postponed guilt from how he earned his billions but personally i don't think it's a mans past that should define him, it's how he acts today. I hope this article would inspire you..