The Mexican financial Web site Sentido Comun has reported that 67-year old Mexican telecom tycoon Carlos Slim Helu has overtaken Microsoft founder Bill Gates as the richest person in the world.

The Web site reported that Slim’s wealth had passed Gates following the superior performance of Slim’s telecommunications firm, America Movil. The Web site also stated that Slim’s lead over Gates amounted to billions of dollars.

"The difference between their two fortunes is around nine billion dollars in favor of Slim,” the financial Web site reportedly stated, owing Slim’s gain to a 26.5 percent rise in the shares of America Movil during the second quarter.

In addition to America Movil, Slim, the son of Lebanese immigrants, controls the INBURSA financial group and the Grupo Carso industrial firm.

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In April, Forbes magazine pegged Slim’s wealth at $53.1 billion and Gate’s at $56 billion.

Among Slim’s most notable investment decisions is the one he make in 1997 when he bought 3 percent of Apple Computer at $17 a share shortly before the company launched its iMac computer. Twelve months later, Apple’s shares exceeded $100.

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