Jeff Bezos is world's richest man

Jeff Bezos Becomes the Richest Man in Modern History

Bezos and Gates have been duking it out to be the world's richest person for the last few years, but it's worth noting that Gates has donated a sizable part of his fortune to charity - primarily to the Bill and Melinda Gates Foundation.

Amazon founder and CEO Jeff Bezos net worth went past $150 billion to become the richest person in modern history.

Bloomberg reported that as of Monday, with Amazon shares closing at $1,822.49, Bezos' wealth is now estimated at over $150 billion (£113.25bn).

Bezos, 54, has now topped Gates in inflation-adjusted terms. Bezos' net worth surpassed that of Gates in 1999 when it hit the $100 billion mark.

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Aliko Dangote, ranking at 105th position, and Mike Adenuga, ranking at 500th position are the billionaires to make the list from Africa.

In comparison, Bezos is in the same league as the world's richest dynasty the Walton family, whose wealth stands at $151.5 billion.

Bezos crossed the threshold just as Amazon prepares to kick off its 36-hour summer sales event, Prime Day.

Amazon shares fell later in the day, as news broke of website outages in the middle of Amazon's Prime Day promotion, but recovered again on Tuesday, up 1.3 per cent from Monday's close. The stock slipped below $1,800 in extended trading after Netflix Inc. posted disappointing results, rattling tech investors.

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His net worth has soared by US$52 billion this year, which is more than the entire fortune of Alibaba Group Holding Ltd Chairman Jack Ma, Asia's wealthiest person.

A Federal Reserve report found the top 1% of USA families controlled 38.6% of wealth in the United States in 2016, compared with 22.8% held by the bottom 90%.

Behind Bezos on the Bloomberg index is Gates, with a $95.5bn fortune, followed by Warren Buffett with $83bn. He's donated nearly 700 million Microsoft shares and $2.9 billion of cash and other assets since 1996, according to an analysis of his publicly disclosed giving.

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