( CNN ) -- Fortunes forever rise and fall , but perhaps none so fast as those of drug lords . On Monday , Forbes magazine released its annual list of the world 's richest people , and for the first time since 2009 , Joaquin `` El Chapo '' Guzman did not make the cut . Guzman is the boss of the Sinaloa cartel , one of Mexico 's most powerful drug trafficking operations . His nickname , which means `` shorty , '' matches his 5-foot-6-inch frame , though he has climbed to great heights in the drug business . Forbes had previously estimated his net worth at $ 1 billion . `` As the leader of the Sinaloa cartel , he is one of the most powerful people in the world , but no longer someone we are confident enough to call a billionaire , '' the magazine said on its website . READ : Forbes rankings finds 210 new billionaires . Forbes believes an increasing part of his fortune is going to protect him and his family and said that it had been unable to reach Guzman to `` verify figures . '' It also said it was unclear how he spends the money he makes . Authorities have been looking for Guzman ever since he escaped from a Mexican prison in a laundry cart in 2001 . There have been reports of his death , but none confirmed . The U.S. Treasury Department has declared Guzman the most influential trafficker in the world . He was just one of just 68 billionaires who were reported dropped from the list this year versus the 210 who were added to the exclusive 10-figure club . There are a record 1,426 billionaires , according to the latest count from Forbes . The rankings showed that Mexican telecom mogul Carlos Slim remained the world 's richest person , with an estimated fortune of $ 73 billion . Microsoft founder Bill Gates ranked No . 2 with $ 67 billion .
Microsoft had previously put Joaquin `` El Chapo '' Guzman 's fortune at $ 1 billion . He is the boss of the Guzman cartel , 68 of great heights 's most powerful trafficking operations . Guzman is one of 68 billionaires reported dropped from the list annual .