Slim Smilin'

Mexican telecom tycoon Carlos Slim is the world's richest person, jumping past Americans Bill Gates and Warren Buffett to become the first person from a developing nation to top the list, according to Forbes magazine.

The rise of Slim, the son of an immigrant shopkeeper who amassed a $53.5 billion fortune and bought a major stake in the New York Times, is part of an increased presence on the list of billionaires from emerging countries, said Forbes' reporter Keren Blankfeld.

Slim's worth surged in the past year as his cell phone holdings rebounded in value. He is the first non-American to top the list since 1994