Bill Gates has once against claimed the title of the richest person in the world, according to the latest data released by Bloomberg.

Gates managed to surpass telecom sector billionaire, Carlos Slim of Mexico to become the richest person in the world, according to the Bloomberg Billionaires Index that was released on Friday. The Bloomberg Billionaires Index, a daily ranking of the world's 100 wealthiest individuals, showed that Mexican telecommunications magnate Carlos Slim ceded the first position to the American entrepreneur.

Bloomberg news on its official Twitter account wrote, "Bill Gates dethrones Carlos Slim as the world's richest man as Microsoft hits five-year high."

Gates's fortune was valued at 72.7 billion dollars, which is higher than Carlos Slim's total fortune worth 72.1 billion. Microsoft founder Bill Gates recorded an increase of 10 billion dollars in his fortune this year while Slim saw his fortune fall by more than 2 billion dollars. Slim's fortunes dropped after the authorities in Mexico announced its decision to loose state control over the telecom sector. Slim's America Movil company has a veritable monopoly in Mexico.

Gates has claimed the title for the first time since 2007, when he was the richest person in the world.