Amazon CEO Jeff Bezos takes Bill Gates' place as world's richest man

Jeff Bezos, CEO of Amazon and owner of The Washington Post, is the richest man in the world, taking the spot previously held by Microsoft founder Bill Gates, Forbes reported Thursday.

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Bezos, who owns just under 80 million shares of Amazon, had a net worth of $90.6 billion when markets opened Thursday, which put him $500 million ahead of Gates, Forbes reported.

Forbes said Bezos is the third American to top the global ranks aside from Gates and Berkshire Hathaway CEO Warren Buffett. He is also now the seventh person to hold the world’s richest person title.

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