For the third time in three years, the world has a new richest man.

Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil ( AMX – news – people ), Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World’s Billionaires.

Slim’s fortune has swelled to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which Slim owns a $23 billion stake, were up 35% in a year.

Click here to view the latest Forbes World Billionaire Rankings.

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