The Microsoft founder Bill Gates has been named as the richest man in the world for the 16th time by Forbes Magazine.
By their ranking Gates’ fortune comes in at 79.2 billion dollars.
Mexican telecommunications and construction entrepreneur Carlos Slim is second on the list with 77.1 billion.
US stellar investor Warren Buffet is in at third with 72.7 billion and fourth is clothing chain Zara owner, Amancio Ortega from Spain, with a mere 64.5 billion.
The highest ranking woman on the rich list is Cristy Walton, the widow of John Walton, one of the heirs to the Wal-Mart retail empire.
Forbes magazine says there are now a record 1,826 billionaires in the world, an increase of 181 over the past year.