Carlos Slim pulled into a tie with Microsoft founder Bill Gates as the richest person in the world, according to Forbes. The two tycoons have been trading the top honor with each other for sometime.

Slim had been the world richest person for the past four years running, however, Gates took the spot back last March and has owned the title for 15 of the past 20 years. 

According to Fox News Latino, many doubted Slim would be able to continue his run as world's richest person after Mexico recently passed a new telecommunications reform law, which forced Slim to sell parts of his mobile mega company, América Móvil. Yet he has managed to do just that.

On Monday, América Móvil's stock rose by $400 million, bringing Slim's net worth to $78.9 billion and into a tie with Gates for the world's richest. 

América Móvil's stock price has done well after the announcement last week that the company would be dumping assets. In fact, prices climbed 10 percent on the New York Stock Exchange the day following the announcement.

Analysts are crediting Slim for the jump, as he has handled the situation extremely well. 

No word has been released yet on exactly how much América Móvil will sell assets for, or who they might sell to.

It is also still unclear whether this initial sale of some of its business components will be enough to satisfy Mexico's tough new law.

According to analysts, the reform law would have the largest effect on Slim's personal assets and holdings.

The law, which was signed into effect on Monday, will also "include regulation of advertising on radio and television," reports Fox Latino, and will fine non-compliant companies as much as 10 percent of their revenue. 

With all of his success, Slim isn't looking remain idle. He has plans for new investments in other Latin American countries like Brazil, Peru and Colombia, where he is eyeing possible ventures in real estate and energy.

He also is excited about the prospect of utilizing Latin America's cheaper interest rates for purposes of new investments. 

"I'm optimistic that with the low-interest rates in the long term, the opportunities to invest in our countries is significant," Slim said in an interview with Bloomberg. "We have to take advantage of this great window while it lasts."

Though telecommunications remains his main focus for the foreseeable future, Slim plans to invest significantly in energy, real estate and infrastructure projects as well. 

"The money available makes the projects we're working on viable, and we're investing in that," Slim stated.