Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil (AMX), 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.
That massive hoard of scratch puts him ahead of Microsoft (MSFT) cofounder Bill Gates, who had held the title of world’s richest 14 of the past 15 years.
That’s some run-up in share price! If I were him, I’d liquidate it all and buy Baja timeshares!