Bill Gates Dethroned!

["Dude VanWinkle" <dudevanwinkle () gmail com>]

via el reg: http://www.theregister.co.uk/2007/07/03/gates_richest_man/

A Mexican telecoms tycoon has dethroned Bill Gates as the World's richest man.

Carlos Slim ended Gates's 13-year reign thanks to a 26 per cent surge
in the stock price of his company America Movil during the second
quarter. Slim boosted his personal net worth to $67.8bn compared to
last year's $30bn.

Gates was worth $59.2bn compared to $50bn in 2006, according to the
Forbes annual rich list. The switch in places was noted by Mexican
financial publication Sentido Común.

Slim's fortune is equivalent to eight per cent of Mexico's gross
domestic product, according to Común. For Gates to be worth eight per
cent of the US economy, he'd have to increase his wealth by 17 times
to $13tn.

Slim paved the way for overtaking Gates last year by expanding his
stake in wireless operator America Movil after selling his holdings in
MCI and Altria. This deal that netted more than $6bn and earned Slim
the title Latin America's richest man.

viva telemundo!

-JP

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