Jeff Bezos, the CEO of Amazon has passed software billionaire Bill Gates, to become the richest person in the world.
The founder of the electronic commerce and cloud computing company, has a net worth of over $90 billion, about $500 million more than Bill Gates.
Much of this lead in the list is due to Bill Gates giving away a good amount of his fortune to charity.
Gates co-created the Giving Pledge project, which is aimed at encouraging billionaires to give at least half of their wealth to philanthropic causes.
According to a Forbes report, the Amazon CEO becomes the seventh person and third American to hold the title of World’s Richest Person.
Jeff Bezos first appeared on the Forbes 400 in 1998, a year after Amazon went public, with a $1.6 billion fortune.
He ranked third richest in the world on Forbes 2017 list of the World’s Billionaires, published in March, with a fortune of $72.8 billion.
The tracking and ranking of billionaires around the globe began in 1987 by the Forbes magazine.
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