One of the richest people on the planet lives right here in little ole El Paso.

According to Forbes magazine's latest ranking of the world's billionaires, El Paso businessman Paul Foster is the 1,476th-richest person in the world.

Forbes estimates his net worth at $1.2 billion. That’s down from $1.5 billion in 2015, when he was the 1,250th-richest person in the world. Here in the United States, which is home to more billionaires than any other country in the world, Foster is the 470th wealthiest among the nation's 540 billionaires.

Foster owns Western Refining and is a co-owner of Mountain Star Sports Group, which owns the El Paso Chihuahuas Triple-A baseball team. He is also a partner in Jordan Foster Construction.

Overall, Microsoft founder Bill Gates tops the list for the third year in a row with a net worth of $75 billion (down from $79.2 billion last year). You check out the entire list HERE.