Mexican Drug Lord Joaquin "El Chapo" Guzman Dropped From Forbes Billionaires List

Part of the more than $1 million dollars and more than 41 million Mexican pesos seized from alleged member of Zetas drug cartel Eric Jovan Lozano Diaz is displayed to the media in Mexico City June 15, 2012. Eric Jovan Lozano Diaz,alias Cucho, an alleged member of the Zetas drug cartel was arrested on Thursday and has been identified as one of the main financial operators of Zeta leader Miguel Angel Trevino Morales, know as Z-40. The marines also seized more than 1 million dollars and more than 41 million Mexican pesos during the raid in Nuevo Laredo, in the northern state of Tamaulipas, a spokesman for the army said. REUTERS/Henry Romero

Joaquiin "El Chapo" Guzman, one of the most feared crime bosses in the world and leader of the Mexican Sinaloa drug cartel, was taken off of the Forbes billionaires list.

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Guzman's name was on the exclusive list every year since 2009 as Forbes findings believed his net worth was roughly $1 billion but editors at the business magazine now think the drug lord's fortune has shrunk, CNN reports.

"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," Forbes website said, adding that Forbes staff were unable to speak to Guzman to determine his wealth.

Forbes noted that Guzman is believed to be spending much of his money on increased security for himself and his family but the magazine also said there is no way to truly figure out how he is spending his fortune of drug money.

Guzman is in hiding from Mexican authorities after his escape from prison in a laundry cart in 2001. Multiple reports of his death have circulated among media outlets for years but non have been confirmed by authorities. 

The elusive "El Chapo" -- a nickname meaning "shorty" because of his 5-foot-6-inch height -- is considered to be the most influential drug trafficker in the world by the U.S. Treasury Department.

He was one of the 68 billionaires dropped from the list this year, 210 new billionaires were added reaching a world wide record of 1,426 billionaires in total. Carlos Slim, a Mexican telecom tycoon, tops the list at $73 billion.