Carlos Slim Still World’s Richest

Carlos Slim, World's Richest Man 2011Carlos Slim extended his reign as the world’s richest person for a second-straight year thanks to a total earning of $20.5 billion over the last year.

According to Forbes magazine, which publishes the annual ranking of the world’s billionaires, Slim increased his net worth to $74 billion from $53.5 billion last year. Forbes credited Slim’s giant leap to successful real estate and mining investments, as well as to the significant rise of the Mexican stock market. A majority of the Mexican billionaire’s assets comes from America Movil, the wireless provider owned by Slim’s family.

Coming in second and third for the second year in a row were Americans Bill Gates and Warren Buffet. Gates of Microsoft added $3 billion to his net worth, which now stands at $56 billion. Buffet also earned around $3 billion for a total worth of $50 billion. Another American, Larry Ellison of Oracle, bolted to no.5 with a net worth of $39.5 billion, up $11.5 billion from last year. Also rising was Bernard Arnault of French fashion empire LVMH, who moved up to fourth spot from number seven last year with $41 billion.