Bezos named world’s richest man

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Jeff Bezos has been named the world’s richest man, overtaking fellow tech billionaire Bill Gates.

Bezos is the founder of Amazon.

According to Forbes, which tracks the world’s wealthiest people, Amazon’s meteoric stock rise pushed his wealth to $90.6 billion.

Mr Bezos has benefited from the the companies expansion into new markets. He owns about 17 percent of the shares in Amazon, whose value has now exceeded $US500bn.

Microsoft Corp co-founder Bill Gates, a philanthropist, has given $31.1bn to charitable causes through 2016 and has a net worth of $90.1bn, Forbes said.

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