Carlos Slim's Wealth VS Hosni Mubarak's. Mexican business magnate Carlos Slim's position as the world's richest man might be replaced soon by Hosni Mubarak, Former Egyptian President. Hosni Mubarak's estimated $70 billion fortune makes him richer than Carlos Slim and Bill Gates.
Mubarak's family fortune could be as high as $US70 billion, much of it in Swiss banks or tied up in real estate in New York, Los Angeles and London.
The $US70 billion would put the 82-year-old comfortably ahead of Mexican business magnate Carlos Slim Helu, worth about $US53.5 billion, and Microsoft founder Bill Gates, the richest American with $US53 billion.
Mubarak, his wife and two sons were able to also accumulate wealth through a number of business partnerships with foreigners. Egyptian law requires that foreigners give a local business partner a 51 per cent stake in most ventures.
Protesters have cited government corruption as a reason they are demanding Mubarak's ouster.
Back to Carlos Slim, recent news, Slim is looking to increase his investments in Colombia because of the country's liberal oil exploration policies along with its mineral assets and expanding middle class. Carlos Slim said that he is looking to expand the drilling and oil-platform services he provides Petroleos Mexicanos through exploration opportunities in the South American country.
So, who is the true richest man?
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