Bill Gates is no longer the world's richest person, and by a large margin.
Forbes magazine's annual billionaire's list has made it official: Amazon chief Jeff Bezos has unseated Bill Gates and taken the title of world's richest person 2018 for himself.
In 1995, Bill Gates became the richest person in the world at the young age of 39 with a $12.9 billion fortune. And for decades, he's pretty much had that title — on and off, but mostly on.
In the last year, Amazon shares have risen 57%, almost doubling his fortune. Bezos is now worth $112 billion.
Gates, who has only given up the top spot six times since he first took it in 1995, is worth $90 billion. This is the biggest gap between the number one and two spots since 2001.
It must be noted that Gates' fortune isn't as large as it could be because of his philanthropy. He and his wife Melinda are known for founding the Bill & Melinda Gates Foundation, the world's largest private charitable foundation.
And today, Gates only owns 1% of Microsoft. He either sold or gave away much of his stock, though he still sits on the board.
Earlier this year, Bloomberg reported that Gates had donated $2.9 billion of cash and assets since 1996. If he hadn't given away his assets, he'd have a net worth of more than $150 billion.
According to Forbes, 2,208. The members of the so-called "three-comma club" hail from 72 countries and territories. (This is the first year Forbes has recorded a billionaire from Hungary and Zimbabwe.)
There are 259 newcomers to this year's list. These include the first cryptocurrency billionaires, the people behind popular toys Hatchimals and PAW Patrol, and the heiress who runs In-N-Out Burger.
However, 121 dropped out of the list, including all 10 Saudi Arabians on last year's list.
All in all, the world's billionaires are worth $9.1 trillion — 18% more than last year.
To view Forbes' The Billionaires 2018 list, click here.
What do you think about this news on the world's richest person 2018? Should Bill Gates have held onto his fortune?
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