Gates dethroned

The net worth of Mexico's Carlos Slim Helu grew to $67.8 billion US by the end of June, allowing him to oust Bill Gates as the world's wealthiest man, according to the calculations of a Mexican financial websiteSlim controls and owns a third of America Movil, Mexico's largest fixed-line telephone company and a major Latin American wireless service provider. The company's stock climbed more than 26 per cent over the first quarter, swelling Slim's wealth to eclipse that of Microsoft's Gates.The Mexican website, called Sentido Comun ("Common Sense"), said that Slim and his family's fortune is equivalent to eight per cent of Mexico's gross domestic product The website said that Gates was worth $59 billion US at the end of June.Other than his holdings in the telephone sector, Slim has a host of other financial interests in areas such as retail, coffee shops, and restaurants.