According to analysts, Carlos Slim is the billionaire who lost the most money this year, approximately $20 billion dollars were lost due to his telecom company América Móvil's shares performing poorly at the stock exchange.

This "not-so-big-of-a-loss" managed to take him of the top 3 richest person of the year list, this according to both Bloomberg and Forbes, who now place him in 5th place. It's worth noting that he's still considered a billionaire since he has a current net worth of $55.2 billion dollars.

Amancio Ortega, Warren Buffett, Jeff Bezos and Bill Gates are now in the top 4 positions as richest people of the world. According to a Credit Suisse analyst, the biggest share drop América Móvil has suffered was back in 2008, due to new antitrust regulations in Mexico aimed at cracking down on dominant telecom companies in the country.

"América Móvil's competition will get harder for the following years", said the analyst.

Though this is not the only reason why Slim's net worth has suffered, there is also the sharp peso devaluation against the dollar as well as Grupo Financiero Inbursa's shares, Slim's bank, losing value on the market.

Via Univisión

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ariday.ortega@sandiegored.com

Translated by: edgar.martinez@sandiegored.com