The Members Forum

For as long as most can remember, Microsoft's co-founder and chairman, Bill Gates, has been the richest man in the world. Weighing in at $53 billion, it's easy to understand why.

Forbes, however, is reporting the official dethroning of Bill Gates. This is not the first time he's lost the top spot since initially capturing it. In 2008, he dropped to second under Warren Buffet. This year, it's a different story. Carlos Slim Helu, a telecom tycoon in Mexico, has now surpassed Mr. Gates for the numero uno spot on the world's billionaire chart. Last year, Helu ranked third with a fortune of $35 billion. Today, Helu is now worth $53.5 billion--an increase of $18.5 billion over the past year.

This doesn't mean Bill Gates has been slacking off. With a current net worth of $53 billion, Gates has seen a $13 billion increase since last year. A lot of this is due to Microsoft's shares rising 50% in the past twelve months. Forbes notes that 60% of Gates' fortune is held outside of the Microsoft Corporation. His investments include Four Seasons hotels, Televisa, and Auto Nation. Warren Buffet of Berkshire Hathaway, now listed at $47 billion, rounds off the top three.

Bill Gates is no longer the world's richest