American no longer holds richest man title

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.

Click her to see who else made the list

Helu is a telecom tycoon who helped privatize Mexico's national telephone company n the 1990s. His net worth went up $18.5 billion in a year. He recently received approval to merge his fixed-line assets into Latin America's biggest mobile phone company.

Rounding out the top five are Bill Gate at $53 billion, Warren Buffett with $47 billion, oil and gas tycoon Mukesh Ambani with a $29 billion and steel mogul Laksmi Mittal with $28.7 billion.

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