THE TOP 20 RICHEST PEOPLE IN THE WORLD CONTINUE TO BE RICH, RECESIONS ARE A MINOR HEADACHE...BILL GATES LOSES THE TOP SPOT-POOR BABY!

FORBES magazine reported Mexican tycoon Carlos Slim is the new richest person in the world, knocking Microsoft founder Bill Gates into second spot.

It is only the second time since 1995 that Gates has lost the crown, said the magazine.

Here is Forbes ranking of the 20 richest people in the world:

* Carlos Slim (Mexico) - $53.5 billion, telecommunications

* Bill Gates (USA) - $53 billion, Microsoft

* Warren Buffett (USA) - $47 billion, Berkshire Hathaway

* Mukesh Ambani (India) - $29 billion, petrochemicals, oil and gas

* Lakshmi Mittal (India) - $28.7 billion, steel

* Larry Ellison (USA) - $28 billion, Oracle

* Bernard Arnault (France) - $27.5 billion, LVMH

* Eike Batista (Brazil) - $27 billion, mining, oil

* Amancio Ortega (Spain) - $25 billion, retail

* Karl Albrecht (Germany) - $23.5 billion, supermarkets

* Ingvar Kamprad & family (Sweden) - $23 billion, Ikea

* Christy Walton & family (USA) - $22.5 billion, Walmart

* Stefan Persson (Sweden) - $22.4 billion, Hennes & Mauritz

* Li Ka-shing (Hong Kong) - $21 billion, diversified

* Jim Walton (USA) - $20.7 billion, Walmart

* Alice Walton (USA) - $20.6 billion, Walmart

* Liliane Bettencourt (France) - $20 billion, L'Oreal

* S. Robson Walton (USA) - $19.8 billion, Walmart

* Prince Alwaleed Bin Talal Alsaud (Saudi Arabia) - $19.4 billion, investments

* David Thomson & family (Canada) - $19 billion, news and information company Thomson Reuters

The full Forbes ranking of the world's billionaires can be

seen www.forbes.com/billionaires.

Maybe your name can be on that list too soon.