It's official, Carlos Slim, the Mexican cellphone monarch, is the richest man in the world with a fortune of $74 billion. CS tells you more about the man:

>>u00a0Slim first showed his business talent as a 10-year-old selling drinks and snacks to his family.

>>u00a0After studying engineering, he founded a real estate firm and worked as a trader on the stock exchange.

>>u00a0Slim is known for his shrewd foresight of acquiring struggling firms and making a fortune out of them.

>>u00a0He lives frugally. He has lived in the same house for 40 years and drives an aging Mercedes Benz.