According to the Mexican online financial publication Sentido Comun, Carlos Slim Helú is the richest person in the world as of July 3, 2007 with an estimated fortune of US$67.8 billion, a decisive $8.6 billion over the Microsoft founder's $59.2 billion.

This development is a result of Carlos' telecommunications empire's stocks rising 27% in the second quarter of 2007.

Mr. Helu, 67, was worth $49 billion when Forbes locked in net worths for our annual billionaires ranking. Two months–and $4 billion–later, he overtook Warren Buffett to become the world's second-richest man. Mr. Helu's wealth continues to soar, largely on the strength of his wireless telecom company, America Movil  (nyse: AMX -  news  -  people ), of which he owns 30% and which is up 36% this year.

Mr. Helu's communications empire, America Movil group, operate 90% of telephone lines and nearly 80% of cell phones in Mexico.

 "Thanks to a 26.5 per cent rise in the shares of America Movil during the second quarter, Slim, who controls a 33 per cent interest in Latin America's largest mobile phone company, is substantially richer than Gates," Sentido Comun said.

Shares in Microsoft rose 5.7% in the same period.

Last month, Mr Helu announced a $100 million contribution to a new sustainable development project launched by former President Clinton's foundation.

The project, called the Clinton Giustra Sustainable Growth Initiative, will focus on Latin America and other parts of the developing world and will work with the private sector–specifically, a group of mining companies–to address social, economic and environmental issues in a sustainable and cost-effective way.

Tags: world richest man, bill gates, bill clinton, microsoft, america movil, carlos slim helu