Bill Gates' fortune overtaken by business owning family

Microsoft owner Bill Gates has been overtaken in a world rich list by a family business owner. Carlos Slim, (pictured), who runs the Mexican telecommunications empire with his family, has been ranked second in a list of the world's richest people after narrowly being beaten to the top spot.

Warren Buffet tops the list with an estimated worth of $62 billion. Slim has $60 billion while Microsoft owner Bill Gates, who has topped the list for more than a decade, is ranked third with $58 billion.

Other business owning family members feature in the top 20 of the list published by Forbes. Steel magnate Lakshmi Mittal came fourth with a $45 billion fortune and brothers Mukesh and Anil Ambani came fifth and sixth respectively with fortunes of $43 billion and $42 billion.

The Kamprad family, which owns furniture company IKEA, features seventh with $31 billion and real estate magnate KP Singh is eighth with a net worth of $30 billion. Aldi owners Karl and Theo Albrecht are ranked 10th and 16th respectively with fortunes of $27 billion and $23 billion. Li Ka-shing, the head of family-owned conglomerate Hutchison Whampoa, appears 11th with $26.5 billion. 

The heads of two French families appear in 13th and 17th place. LVMH owner Bernard Arnualt has a fortune of $25.5 billion while L'Oréal director Liliane Bettencourt is worth $22.9 billion.