Feeds

Gates loses 'World's richest' crown

Slim only in name

Bridging the IT gap between rising business demands and ageing tools

A Mexican telecoms tycoon has dethroned Bill Gates as the World's richest man.

Carlos Slim ended Gates's 13-year reign thanks to a 26 per cent surge in the stock price of his company America Movil during the second quarter. Slim boosted his personal net worth to $67.8bn compared to last year’s $30bn.

Gates was worth $59.2bn compared to $50bn in 2006, according to the Forbes annual rich list. The switch in places was noted by Mexican financial publication Sentido Común.

Slim's fortune is equivalent to eight per cent of Mexico's gross domestic product, according to Común. For Gates to be worth eight per cent of the US economy, he'd have to increase his wealth by 17 times to $13tn.

Slim paved the way for overtaking Gates last year by expanding his stake in wireless operator America Movil after selling his holdings in MCI and Altria. This deal that netted more than $6bn and earned Slim the title Latin America's richest man.

In April this year Slim overtook the World's second richest person Warren Buffett, the chief executive of Berkshire Hathaway and philanthropist who has dedicated himself to giving away most of his fortune through the Bill and Melinda Gates Foundation. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.