Forbes magazine has released its annual list of the world's richest people and Microsoft founder Bill Gates' name is not at the top.
This year, Mexican telecom mogul Carlos Slim Helu edged out Gates to take the title. Helu has a net worth of $53.5 billion. Gates comes in at No. 2, with a net worth of $53 billion.
Forbes says Gates is up $13 billion from a year ago, as shares of Microsoft rose 50 percent in 12 months.
Warren Buffett came in at No. 3, with a net worth of $47 billion.
Forbes says it's the first time since 1994 that the top spot has been held by a non-U.S. billionaire.
Gates had held the top spot for for 14 of the last 15 years.
