Bill Gates has lost his position as world’s richest man.
According to Forbes, CEO of Amazon Jeff Bezos has become the richest person in the world after stocks of his company rose 1.6% today.
Forbes had reported Wednesday night that Bezos was less than $1bn away from being the richest person in the world.
Bezos’ net-worth has increased by $2.5bn this week alone, stocks of his company rising 3.6%.
He is now worth $90.6bn, becoming the first man ever to top a $90 billion fortune.
He is also worth more than $500m ahead of no. 2 Bill Gates, who is the founder of Microsoft.
Bezos quit his job at a hedge fund to start his online bookseller in a garage in Seattle in 1994.
He first featured on the 400 richest Americans list in 1998, a year after Amazon went public, with a $1.6 billion fortune.
Gates’ first inclusion in the billionaire’s list was in 1982, and has been no. 1 for 18 of the past 23 years.