World's Richest Man Now Top NYT Shareholder

Carlos Slim overtakes Bill Gates to top rich list again
By Rob Quinn,  Newser Staff
Posted Jan 14, 2015 11:05 PM CST
World's Richest Man Now Top NYT Shareholder
Carlos Slim attends the finals of the Mexican soccer league last May. He owned both teams, Pachuca and Leon.   (AP Photo/Christian Palma)

(Newser) – Mexican telecommunications billionaire Carlos Slim is having quite a week—he has become the biggest shareholder in the New York Times and reclaimed his title as the world's richest man. Slim has exercised warrants obtained when he loaned the company $250 million in 2009 to double his stake in the Times to 16.8% and become the leading holder of its publicly traded shares, reports Reuters, which notes that Slim follows other billionaires like Amazon's Jeff Bezos into the newspaper business.

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Slim was knocked off his "world's richest" perch by Bill Gates in 2013, but he overtook him again earlier this week as a rise in the value of phone company America Movil pushed his net worth to $79.6 billion, compared to an estimated $79.1 billion for Gates, Forbes reports. The company accounts for most of Slim's wealth and it helped his fortune increase by $5.1 billion in just 12 business days in early July. (Slim is 74 years old and believes that most people should work into their 70s, but work only three days a week.)

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