Carlos Slim, Mexican telecommunications tycoon, is world’s richest man

Mexican telecommunications tycoon Carlos Slim is the king of the world’s billionaires’ club. The 72-year-old chairman of Telemex, Latin America’s largest mobile-phone carrier, is worth $68.5 billion, according to the inaugural Bloomberg Billionaires Index released Sunday. Slim beat Americans Bill Gates and Warren Buffett in the ranking of the 20 richest people on the planet, who have a combined wealth of $676.8 billion. The daily rankings are based on the billionaires’ wealth at the close of the stock market each day. Slim maintained his status atop the filthy rich scale even though he lost a whopping $478.4 million in one day by last Friday’s closing bell. Microsoft founder Gates, 56, came in second with a net worth of $62.4 billion, while Buffett, 81, chairman of Berkshire Hathaway, came in third with $43.8 billion. Though he’s worth $21 billion, Facebook founder Mark Zuckerberg, 27, isn’t rich enough to make the list. Liliane Bettencourt, 89, co-owner of French cosmetics company L’Oréal, secured the No. 20 spot with a net worth of $22.4 billion. Sweden’s Ingvar Kamprad, 85, founder of IKEA, is the richest European and ranks fourth on the global list with $42.5 billion. Bernard Arnault, 63, chairman of LVMH Moet Hennessy Louis Vuitton, rounded out the top five with $42.3 billion. Ranked tenth is Brazilian minerals mogul Eike Batista, 55, who says he’s aiming to topple Slim from his luxury perch. “I’m competitive,” Batista, boasting a net worth of $28.8 billion, told Bloomberg News. “It’s Brazil’s time to be No. 1.” TOP BILLIONAIRES 1. Carlos Slim, chairman of Telemex, $68.5 billion 2. Bill Gates, co-fouunder of Microsoft, $62.4 billion 3. Warren Buffett, chairman of Berkshire Hathaway, 43.8 billion 4. Ingvar Kamprad, founder of IKEA, $42.5 billion 5. Bernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, $42.3 billion 6. Amancio Ortega, owner of the Zara clothing chain, $38.8 billion. 7. Larry Ellison, CEO of Oracle Corp., $38 billion. 8. Charles Koch, co-owner of Koch Industries, $34 billion 9. David Koch, co-owner of Koch Industries, $34 billion 10. Eike Batista, Brazilian mining mogul, $28.8 billion