American no longer holds richest man title

In this Nov. 18, 2008 file photo, Mexican businessman Carlos Slim visits the Museo Alameda where some of his personal art collection is on display in San Antonio. On March 10, 2010, Forbes announced that Slim claims the title of world's richest person with a net worth of $53.5 billion. (AP Photo/Eric Gay, File)

March 11, 2010 4:26:38 AM PST
For the third time in three years, the world has a new richest man.

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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