Forbes have released their annual Billionaires list and the man at the top for 2018 is not Bill Gates.
Amazon founder Jeff Bezos overtook Gates to be crowned the world’s richest man for the first time ever with a net worth of US$112 billion, according to the publication. The massive jump in personal wealth comes off the back of Amazon’s massive 59% rise in share price in the last 12 months.
This impressive rally was enough to see Bezos’ personal fortune increase by US$39.2 billion in just a short amount of time. Gates on the other hand has commanded the top spot six times since since 1995.
This makes sense considering that Amazon is now considered he third most valuable company in the world ahead of Microsoft. Other notable names in the list included American business magnate Warren Buffet who sits in third with US$84 billion and Mark Zuckerberg who’s in fifth place with US$71 billion.
The United States currently holds 585 billionaires, the highest number in the world, whilst the China region comes in a second with 476 billionaires.
These are the top 10 billionaires listed in the latest Forbes list:
1. Jeff Bezos, $112 billion
2. Bill Gates, $90 billion
3. Warren Buffett, $84 billion
4. Bernard Arnault and family, $72 billion
5. Mark Zuckerberg, $71 billion
6. Amancio Ortega, $70 billion
7. Carlos Slim Helu and family, $67.1 billion
8. Charles Koch, $60 billion
9. David Koch, $60 billion
10. Larry Ellison, $58.5 billion
Read the whole list of billionaires on Forbes or see who made this year’s cryptocurrency rich list.