Jeff Bezos is the richest man in the world

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Amazon CEO, Jeff Bezos, just became the world’s richest person.

The 53-year-old founder past Bill Gates early Thursday when Amazons share price increased by more than $15 a share overnight, while Microsofts took a slight dip. This combination allowed Bezos to top the world’s wealthiest list for the first time.

Shares of the online retailer rose 1.8 percent to $1,071.31 as of 9:30 a.m. in New York, giving Bezos, who owns about 17 percent of the company, a net worth of more than $90 billion, exceeding Gates’s $89 billion.

According to the Bloomberg Billionaires index, 61-year-old Gates, has held the top spot since May of 2013.

Bezos will become the first man to displace Gates from his top rank in seven years and is only the sixth man to hold the “richest person” title in the past 30 years, according to Forbes.

Bezos could possibly be responsible for the largest wealth-creation surge in history. Over the past five years, his net worth has grown by $70 billion, increasing by $45 billion in the last two years alone. Unheard of.

At his peak Gates was worth $90 billion, marking the largest single fortune ever. With hardly any signs that Amazon’s tempo may be slowing, Bezos could well be the first 12-digit man, worth $100 billion one day.

A leading analyst said that Amazon “could be the first trillion-dollar company” with its stock doubling to $2,000.

On top of being the CEO of one of the worlds largest tech companies, Bezos also owns The Washington Post and founded Blue Origin, the space-travel company.

In his commencement speech at Princeton, Bezos said he was torn between his high-paying job at a New York hedge fund and a risky start-up, he chose the start-up.

“I took the less safe path to follow my passion and I’m proud of that choice,” he said.

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