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Lebanese-Mexican Tops World Rich List
Carlos Slim Helu is now the world’s richest man.

Microsoft founder Bill Gates has been overtaken as the world's richest man by Lebanese businessman Carlos Slim Helu.

Mr Slim topped last year's Arabian Business list of the World's 50 Richest Arabs with a fortune of $34.6 billion.

But a recent study by Mexican financial website Sentido Comun suggests his wealth has almost doubled since the Arabian Business research, and now stands at $67.8 billion. Mr Slim, who was born in Mexico to his Lebanese father, is President and 90% owner of Telefonos de Mexico SA de CV or TelMex, a $20 billion telecommunications company.

He is also the largest shareholder in the country's largest mobile operator Amrica Movil, which has registered a 26% share price since the beginning of this year.

But it is his investment group, Grupo Carso, which owns an ISP (Prodigy), an online bank, department stores, a cigarette company (Cigatam), CompUSA electronic retail chain, and a restaurant chain with hundreds of locations, that has helped him overtake Bill Gates.

Mr. Slim remains actively engaged in his business empire, but day-to-day control has been passed down to his sons Carlos Slim Domit, Marco Antonio Slim Domit and Patrick Slim Domit and his son in law Daniel Hajj Aboumrad.

The 67-year old Mr Slim's father hails from Lebanon, but moved to Mexico in 1902 where he made the family's first fortune in retail ventures.

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