Mexican 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.
According to Sentido Comun, the Mexican billionaire's wealth had rocketed past Gates following the red-hot performance of his telecommunications firm, America Movil.
In April, US-based Forbes magazine, renowned for its rankings of the world's wealthiest individuals, had updated its listings ranking Slim as the second richest individual in the world, as he had bested the legendary US investor Warren Buffett.
The Sentido Comun said Slim's lead over Gates amounted to billions of dollars.
"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 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.
Aside from America Movil, Slim controls the INBURSA financial group and the Grupo Carso industrial firm with interests spanning retail stores, coffee shops and restaurants.
One reason for Slim's meteoric rise might be because he is also still working.
Gates stepped aside as Microsoft chief in 2000 to devote his energies to the philanthropic foundation he runs with his wife, Melinda.
Forbes in April had pegged Slim's wealth at a staggering 53.1 billion dollars, and said Gates was sitting on a 56-billion-dollar fortune.
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