The Chief Executive Officer of Amazon, an American electronic commerce and cloud computing company, Jeff Bezos has overtaken Microsoft boss, Bill Gates as the richest person in the world, with a fortune topping $90 billion for the first time ever.

According to Forbes, when markets opened on Thursday, July 27, Bezos had a net worth of $90.6 billion, putting him $500 million ahead of Microsoft founder Bill Gates. Amazon stock opened up 1.6% on Thursday, adding $1.4 billion to Bezos’ net worth. That was enough to put him ahead of Gates, who was last surpassed on Forbes’ real-time rankings for just two days nearly a year ago by Spanish retail giant Amancio Ortega.

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