US Edition 
Mexico's Carlos Slim wrests world's richest man title from Bill Gates: Forbes' list
Mexican billionaire Carlos Slim has stripped Bill Gates of his crown as the world’s richest man, as Latin American and Asian entrepreneurs begin to outpace the US and Europe when it comes to wealth creation.
Mr Slim, with a fortune of $53.5bn (£36bn) from his investment in telecoms and banking in Latin America, is worth $500m more than Bill Gates, the Microsoft founder, according to the just-released Forbes annual billionaires survey.
It is the first time in 16 years that a non-American has taken the top spot, with the Mexican, who saw his wealth increase by $18.5bn in the year, following in the footsteps of the Rausing Brothers in 1994.
But Mr Slim’s rise to the top is part of a much wider trend in the annual Forbes list – that of the rise of dollar billionaires from developing nations at the expense of those from more traditional wealthier countries.
Although the US still has the most billionaires on the list – some 403 with a combined net worth of $1.1 trillion – their hold is beginning to loosen, accounting for 40pc of the world’s billionaires in the latest list compared to 45pc last year.
At the same time, countries such as China, Turkey, Russia, Brazil and Argentina have all seen a significant rise in the number of billionaires. Pakistan now has its first billionaire in the shape of Mian Muhammad Mansha, who owns the country’s MCB Bank.
China is now home to 64 billionaires – the most of any country outside the US – with 27 of them reaching the $1bn mark for the first time.
Newcomers include Li Shufu, who runs Chinese car manufacturer Geely - which is on the verge of buying Volvo from Ford – and Fu Guangming who runs Fuijan Sunner Group which processes chicken for Kentucky Fried Chicken in China.
“Anyone catering to Chinese consumers is doing very well,” said Luisa Kroll, Forbes senior editor, adding that of the 14 self-made women on the 1,011-strong list, seven hail from China.
Brazilian mining magnate Eike Batista saw a dramatic increase in his wealth over the year, up $19.5bn to $27bn, the biggest wealth gain of anyone on the list.
Overall, the Forbes annual survey reflected a significant return in many billionaire’s fortunes, with the average net worth of those on the list rising from $3bn to $3.5bn, although that is perhaps not surprising as the cut-off date for the 2009 survey was February 13 2009, close to last year’s stock market lows.
Aside from Messrs Slim and Gates, investment guru Warren Buffett took third place, with a fortune valued at $47bn, up $10bn from the prior year.
Other notable constituents on the list include LVMH chief Bernard Arnualt, Europe’s richest man with a $27.5bn fortune. Ranked seventh, he has seen his fortune rise by $11bn in the last 12 months.
Steel magnate Lakshmi Mittal saw his fortune increase $9.4bn to $28.7bn, pushing him up two spots to fifth place.
In terms of British billionaires, Sports Direct and Newcastle United owner Mike Ashley is now worth $1.5bn, while the Duke of Grosvenor and his family remain the wealthiest Britons, with a $12bn fortune, up $1bn in spite of the fall in the value of commercial property.
One UK newcomer to the list is hedge fund manager Alan Howard – of Brevan Howard – with a net worth of $1.8bn, while David and Simon Reuben ($7.5bn), Sir Richard Branson ($4bn), and Joe Lewis ($3bn) all saw their fortunes increase in the last 12 months.