Carlos Slim Helu is Officially the Richest Man in the World

Mexican businessman Carlos Slim Helu has edged out both Bill Gates and Warren Buffet to claim the title of richest man in the world. Gates held the title of Forbes's Richest Person in the World for 14 of the last 15 years, while Buffet is holding steady in the third place position. Ironically enough, though we've witnessed one of the worst global recessions in history this past year, most of the world's wealthiest people saw their riches sore during the last 12 months.

According to the magazine, Helu, who made his fortune in telecommunications, is worth an estimated $53.5 billion. His fortune has ballooned almost 20 billion dollars over the last year, due in large part to the soaring prices on the stocks for his various telecom holdings, specifically America Movil. Helu reportedly makes about $30 million a month and is the first Latino ever to top Forbe's richest people list.

Helu was not the only Latino to crack the top ten. Brazilian businessman, Eike Batista has an estimated net worth of $27 billion accumulated by dealings in the mining and energy trades.