Amazon founder and CEO Jeff Bezos is the richest person in the world, with a current net worth of more than $160 billion, according to Forbes, which officially placed Bezos atop its annual Forbes 400 list of America's richest people on Wednesday.
Though Bezos passed Microsoft co-founder Bill Gates to become the world's richest person last fall, this is the first time Forbes has updated its annual Forbes 400 list since that occurred. Bezos not only becomes the first person to knock Gates out of the top spot since 1994, but the Amazon CEO is also the first person on the list whose net worth breaks $100 million, Forbes said.
In September, Bezos announced plans to give back some of his massive wealth, as he launched a new $2 billion philanthropic effort called the "Day One Fund." In a statement the billionaire posted to Twitter, Bezos said the money will be split between efforts aimed at helping homeless families and creating a new non-profit preschools in low-income communities.
More than 90 percent of the billionaire's wealth is tied up in Amazon stock, since he owns about 80 million shares. The rest is in cash or comes from proceeds from investments, salary and bonuses, according to research firm Wealth-X, which provided CNBC Make It with estimates of the value of Bezos' assets as of September 2018.
With Amazon's stock up by nearly 65 percent in 2018, Bezos' personal wealth has skyrocketed (he was worth roughly $90 billion as of July 2017). As his net worth continues to soar, Bezos had faced calls from his critics to donate more of his fortune to charities and other philanthropic efforts.
So how does the world's wealthiest man spend his money?