Bill Gates No Longer The Richest Man

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