Move over, Bill Gates. With a whopping $62 billion in net worth, Warren Buffett is now the world's richest man, according to Forbes magazine. Buffett's wealth increased $10 billion over the past year through February 11, Forbes notes, mostly thanks to gains in shares of his company, Berkshire Hathaway.


Meanwhile, Gates—who had topped the magazine's annual list of global billionaires for the past 13 years—grew his net worth by $2 billion, to $58 billion. The Microsoft chairman fell to third on the list behind Mexican telecommunications mogul Carlos Slim Helú, who has an estimated net worth of $60 billion.