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Mexican telecommunications baron Carlos Slim (pictured) has overtaken Microsoft owner Bill Gates and legendary investor Warren Buffet to take the top spot in a list of the world's richest people.
 
Slim, who runs the empire with his family, has an estimated fortune of $53.5 billion, which he increased by $18.5 billion last year. He is the first non-American to top the list in 16 years. Gates and Buffet come in second and third with an estimated $53 billion and $47 billion respectively.
 

Mexican family patriarch and the world's second richest man, Carlos Slim Helu, has agreed to lend family-controlled New York Times Company $250 million to refinance its existing debt.

The loan is being made through the Slim family's Banco Inbursa and Inmobiliaria Carso companies. In return, these two businesses have secured senior unsecured notes due in 2015 with detachable warrants.

The world's second richest man and family business owner Carlos Slim Helu (pictured) has bought a stake in the New York Times newspaper group it has been revealed.
 
The Mexican, who has a net worth of roughly $60 billion, paid $127 million for a 6.4% stake. In doing so, he becomes the group's third largest shareholder behind hedge funds Harbinger Capital and Firebrand Partners. The latter, who were critical of the business's efforts to expand its online operations, are now represented on the company's board.