Forbes: Amazon's Bezos overtakes Bill Gates as world's richest person

(CNN) - Bill Gates has been the richest person on the planet for 18 of the past 24 years. but Amazon's CEO and co-founder Jeff Bezos has replaced him.

Forbes reports that Bezos' net worth is $112 Billion and is the only person to appear in the Forbes ranks with a 12-figure fortune.

Bezos owns 16-percent of Amazon, which he founded in a Seattle garage in 1994.

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