Warren Buffet New World's Richest Man

Billionaire investor Warren Buffet has surpassed Bill Gates to be come the world's wealthest person. Buffet's net worth grew by $10 billion over the past 12 months to $62 billion.

"After 13 years on top, Bill Gates is no longer the richest man in the world. That honor now belongs to his friend and sometimes bridge partner Warren Buffett," Forbes magazine said.

Forbes estimated Buffett's worth at $62 billion in its annual ranking of the world's wealthiest people. Bill Gates was pushed to third place after 13 years of holding the No. 1 spot. Forbes puts Gates net worth at $58 billion. He is up $2 billion from a year ago, but would have been as rich or richer than Buffett had Microsoft not made an unsolicited bid for Yahoo! at the beginning of February.

Mexico's Carlos Slim came in second with an estimated worth of $60 billion.