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Mexican tycoon passes Bill Gates as planet's richest person

Carlos Slim HeluMexican telecom tycoon Carlos Slim Helu has overtaken Microsoft founder Bill Gates as the richest person on the planet, the Mexican financial website Sentido Comun reported.

Sentido Comun said the Mexican billionaire's wealth had rocketed past Gates following the red-hot performance of his telecommunications firm, America Movil.

"Thanks to a 26.5-percent rise in the shares of America Movil during the second quarter, Slim, who controls a 33-percent interest in Latin America's largest mobile phone company, is substantially richer than Gates," Sentido Comun said.

"The difference between their two fortunes is around nine billion US dollars in favor of Slim," the financial website claimed.

It said it had based its calculations largely on the share price movements of companies controlled by Slim.

The website said soaring performances from Slim's other business interests had also helped propel him past Gates.

Source: France24
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