An era has come to an end, says Fortune, as Bill Gates is no longer the world's richest man, according to the magazine's latest tally. Mexican telecom billionaire Carlos Slim has surpassed the Microsoft founder with an estimated worth of $59 billion compared to Gates' $58 billion.

Of course, the passing of the torch won't officially come until Forbes publishes its annual list next year. The change is largely the result of Slim's public holdings gaining more than $12 billion this year; Slim owns America Movil, the largest cell phone company in Latin America, along with a number of banks and restaurant chains. Gates has also been giving away more of his money to charitable causes, while Slim says he helps best by creating wealth and jobs through his own companies.