Amazon's Jeff Bezos beats Bill Gates in new rich list Published duration 17 July 2018

image copyright Getty Images

Amazon founder Jeff Bezos is now worth $150bn (£113bn), according to the Bloomberg Billionaire Index.

Jeff Bezos's net worth has increased by over $60bn in the last 12 months, which makes him the world's richest man.

This places his worth higher than that of Microsoft co-founder Bill Gates, who has previously topped the rich lists - even at his peak in 1999.

Then Mr Gates was worth $100bn - which would be around $149bn today, when adjusted for inflation.

Mr Gates is currently in second place with a worth of $95bn, having given away 700 million Microsoft shares and $2.9bn in cash since 1996.

He gave the cash and assets to the Bill and Melinda Gates Foundation, Bloomberg reports.

Mr Bezos says he is selling about $1bn of Amazon stock every year to fund Blue Origin, the project he has founded to develop commercial space travel.

It's not the first time Jeff Bezos has topped the world's rich list - in July 2017, he briefly overtook Bill Gates to become the world's richest man according to Forbes when Amazon's shares surged - but returned to second place when their value dropped again.

image copyright Getty Images image caption Jeff Bezos and Bill Gates, pictured in 2001

The news of Mr Bezos's wealth came as Amazon prepared for its enormous Prime Day sale on 16 July, which was marred in Europe by worker strikes in Germany, Spain and Poland over working conditions.

"The message is clear - while the online giant gets rich, it is saving money on the health of its workers," said Stefanie Nutzenberger of Germany's Verdi services union.

Amazon said its workers were paid fairly, with permanent staff earning €12.22 (£10.81) an hour or more after two years.