New York, March 11 (IANS/EFE) Mexican telecommunications mogul Carlos Slim maintained his position as the world's richest person, beating Microsoft founder Bill Gates and investor Warren Buffett for the second consecutive year, according to Forbes magazine.

Slim's fortune totals $74 billion, according to the ranking Forbes prepares each year.

The ranking also says the billionaire increased his wealth in the past year by $20.5 billion, more than any other person.

"Slim has many businesses, but things have gone very well for him in the telecommunications (area). His business activities have the virtue of diversification and also the good period telecommunications (is going through)," Forbes CEO and editor-in-chief Steve Forbes said.

"The gap between Slim and the fortunes of Gates ($56 billion) and Buffett ($50 billion) is getting bigger and bigger. Each year, Gates donates a portion of his fortune and, if he had made no contributions to his foundations, he would be very close to No. 1," said Forbes.

The list of the world's richest contains 1,210 names.

The list itself also achieved a couple of records this time around. For instance, this year it received 214 new members and has never had as many multimillionaires on it as now, and the people on the list have a combined wealth of $4.5 trillion this year, compared to $3.6 trillion last year.