Mexican billionaire Carlos Slim has emerged as the richest person in the world with $53.5 billion in assets, in the Forbes annual list of world's top billionaires. Carlos Slim Helu is a Mexican engineer, businessman and philanthropist largely focused on the telecommunications industry and his fortune has raised $18.5 billion in only 12 months to reach an estimated $53.5 billion. He owns a $23 billion interest in America Movil, whose shares rose by 35% in a year.
He was able to raise money for a telecommunications company by purchasing standby letters of credit which enabled him to obtain guaranteed loans which provided the capital. His construction conglomerate, Impulsora del Desarrollo y el Empleo, builds roads and energy infrastructure. Son of a Lebanese immigrant also owns stakes in financial group Inbursa, Bronco Drilling, Independent News & Media, Saks and New York Times Co. Newspaper outfit's stock popped in early March on talk he might buy a controlling stake; he denies the rumor. Donating $65 million to fund a research project in genomic medicine with American billionaire philanthropist Eli Broad.
On March 10, 2010, Fortune once again reported that Slim had overtaken Gates as the world's richest man, with a net worth of US$53.5 billion.Bill Gates and Warren Buffett now have a net worth of US$53 billion and US$47 billion respectively.
On March 11, 2009, Forbes ranked Slim as the world's third-richest person, behind Bill Gates and Warren Buffett and ahead of Lawrence Ellison.
On March 5, 2008, Forbes ranked Slim as the world's second-richest person, behind Warren Buffett and ahead of Bill Gates.
On August 8, 2007, Fortune reported that Slim had overtaken Gates as the world's richest man. Slim's estimated fortune soared to US$59 billion, based on the value of his public holdings the end of July. Gates' net worth was estimated to be at least US$58 billion.
On August 4, 2007, The Wall Street Journal ran a cover story profiling Slim. The article said, "While the market value of his stake in publicly traded companies could decline at any time, at the moment he is probably wealthier than Bill Gates".[8] On March 29, 2007, Slim surpassedWarren Buffett as the world's second richest person with an estimated net worth of US$53.1 billion compared to Buffett's US$52.4 billion.According to The Wall Street Journal, Slim credits part of his ability to discover investment opportunities early to the writings of his friend,futurist author Alvin Toffler

Early Life
In 1902, Juliá® Slim Haddad, father of Carlos Slim Hel?rived in Mexico from Lebanon, all alone at 14 years of age, speaking no Spanish. He was escaping from the yoke of the Ottoman Empire, which at the time conscripted young men into its army; mothers therefore sent their sons to exile before turning fifteen. Carlos Slim's mother, Doñ¡ Œinda Hel?s born in Parral, Chihuahua. She was the daughter of José ˆel? Wadiha Atta, Lebanese immigrants who arrived in Mexico at the end of the 19th century, who brought the first Arabic printing press to Mexico and founded one of the first magazines for the Lebanese community in the country. In 1911, Juliá® established a dry goods store called La Estrella del Oriente (Star of the Orient) and purchased real estate in downtown Mexico City. In August 1926, Juliá® Slim and Linda Hel?ried in Mexico City, they had six children, of whom Carlos was the youngest boy. Carlos was born in Mexico City,Mexico.
Carlos Slim studied engineering at the Universidad Nacional Aut󮯭a de M鸩co. By the time he was 26 years old, his net worth was $40 million. He married Soumaya Domit Gemayel, also a Lebanese-Mexican, in 1967; they had six children and were married for 32 years until Domit died of a kidney ailment in 1999. The youngest daughter, Johanna, is married to Arturo Elí¡³ Ayub, a board member of some of Slim's companies.
Slim has been awarded the Entrepreneurial Merit Medal of Honor from Mexico's Chamber of Commerce. He is a "gold patron" of the American Academy of Achievement,[23] and the Belgian government awarded him the Leopold II Commander Meda, CEO of the year in 2003 by Latin Trade magazine and one year later CEO of the decade by the same magazine.