Bill Gates is no longer the richest man according to this year's Forbes Rich list.

The founder of Microsoft, whose net worth was still a massive $53 billion last year, was beaten by a relativity unknown Mexican telecom mogul, Carlos Silm Helu.

Silm Helu pipped Gates to the crown of "I've got more money than you" by $500 million.

Still, according to Forbes, "the top 10 richest tech billionaires saw their fortunes rise a collective $55.8 billion over the past year, helped by a surge in the value of technology stocks" in spite of the recession.

The list which is dominated by technology based companies sees Google's Larry Page and Sergey Brin on $17.5 billion.

The list's youngest billionaire is Mark Zuckerberg from Facebook; he is estimated to be worth $4 billion.