10 Mar '11, 1am

Mexican tycoon Carlos Slim was named the world's richest man for the 2nd year, with a net wealth of $93.8 billion

Mexican tycoon Carlos Slim was named the world's richest man for the 2nd year, with a net wealth of $93.8 billion

Mexican tycoon Carlos Slim is the richest person in the world for the second year in a row, Forbes said. -- PHOTO: REUTERS NEW YORK - MEXICAN telecoms tycoon Carlos Slim Helu remained the world's richest person, but Asia is where today's big money is flowing, Forbes magazine said in its 2011 list of the world's billionaires. Mr Slim, who is almost unknown to general public outside Mexico, weighed in at a staggering US$74 billion (S$93.8 billion) of net wealth thanks to his telecoms empire. Already the top dog last year, he increased his fortune by US$20.5 billion dollars. In a now familiar second place was Microsoft founder Bill Gates with US$56 billion. The relatively lowly ranking reflected his enormous philanthropic give-aways over the year, Forbes said. Next up was US investment guru Warren Buffett and Bernard Arnault from the luxury goods group LVMH with US$50 billion...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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