Mr. Slim Is New Global Fat Cat
Mexican telecom chief Carlos Slim beats Bill Gates as world's richest man
By Peter Fearon,  Newser Staff
Posted Jul 4, 2007 7:11 AM CDT
%u20AC50 billion) at the end of 2007's second quarter, nearly 8 percent of Mexico's Gross Domestic Product, said Eduardo Garcia, founder and director of sentidocomun.com, a Mexico-based financial news...   (Associated Press)
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(Newser) – Move over, Bill Gates. The Microsoft founder, who has  been the world's richest individual for a decade, has lost his lofty perch to a little-known Mexican telecom tycoon, Carlos Slim, the Guardian reports.  His wealth has been estimated at $67.8 billion compared with $59.2 billion for Gates.

Some $23 billion of Slim's wealth was earned in the last hectic 14 months of growth in his telecom empire, America Movil. Shares in his cell phone business surged 27% in the last three months, while Microsoft's increased 5.7%. Slim's fortune is believed to be about 8% of the entire gross national product of Mexico.