Business

Carlos Slim tops Forbes billionaires list at US$69b

Slim attends a discussion regarding megacities at the Clinton Global Initiative in New York September 20, 2011. — Reuters picSlim attends a discussion regarding megacities at the Clinton Global Initiative in New York September 20, 2011. — Reuters picNEW YORK, March 8 — Mexican tycoon Carlos Slim retained his position atop Forbes magazine’s annual list of the world’s billionaires yesterday with an estimated worth of US$69 billion (RM207 billion), placing him ahead of Bill Gates at US$61 billion and Warren Buffett at US$44 billion.

Slim, 72, has taken the top spot for three years in a row, largely based on assets from his telecommunications empire.

The United States again led the list with 425 billionaires. Russia overtook mainland China for the No. 2 spot, with 96 billionaires compared with mainland China’s 95.

Moscow led all cities with 78 billionaires, followed by New York at 58 and London at 39.

This year’s list, in the magazine’s 25th annual issue on the world’s wealthiest people, included a record 1,226 entrants who sat atop average fortunes of US$3.7 billion.

Slim made much of his money as a telecommunications magnate who has expanded into retail, finance, commodities and energy.

In recent years he has taken larger stakes abroad, owning parts of department store operator Saks Inc, publisher New York Times Co and money manager BlackRock Inc. In June he sold his stake in oil services company Bronco Drilling for a tidy profit.

Gates narrowed the gap with Slim this year after Slim’s estimated net worth fell from US$74 billion to US$69 billion. Forbes estimated Gates’ net worth rose from US$56 billion to US$61 billion. — Reuters

 

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