MEXICO.- This week, Forbes Magazine confirmed that Carlos Slim is once again "The Richest Man in the World" thanks to increased share prices for his company America Movil.
Journalist Dolia Estevez detailed how he reclaimed this position. Slim's fortune increased after it was announced that he would sell shares of the company America Movil. This decision came about after he was named a "dominant player" under the new telecom law, which we covered here.
Under this new law, dominant players are not allowed to participate in public telecom auctions because it is determined that they are too big and control too much of the market already. To get around that, he is selling of part of his company in order to only control 49% of telephonic service in Mexico.
Estevez said that America Movil's value increased by 1% as a result of this announcement, which equates to 800 million dollars, and thus bumped him up to first place on the list with an estimated wealth of 79.6 billion dollars. This is 500 million more than Bill Gates' estimated wealth.