Amazon's Jeff Bezos is world's richest man

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In 2017, he ranked 33rd with $23.2 billion.

Thanks to a 59-percent rise in Amazon shares over the past 12 months, Bezos nearly doubled his fortune, taking it to $120 billion, way ahead of Gates's $90 billion - the biggest gap ever between the number one and two spots, Forbes said.

On February 9, 2018, Forbes indicated that the wealth of Amazon's innovative, excellence-driven chief executive officer stood at $112 billion.

Forbes' much-awaited ranking of the world's billionaires is out, and there are some major surprises! This is up by 18 per cent since previous year.

Meanwhile, 39-year old Vijay Shekhar Sharma, founder, Paytm is the youngest Indian billionaire, according to Forbes.

Among the Indian women on the list, Savitri Jindal and family is the richest with a fortune of Dollars 8.8 billion.

The 10 richest Indians include Kumar Birla, ranked 127th overall with a fortune of $11.8 billion, Uday Kotak (143, $10.7 billion), Radhakishan Damani (151, $10 billion), Gautam Adani (154, $9.7 billion) and Cyrus Poonawalla (170, $9.1 billion).

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Microsoft founder Bill Gates ranked second with $90 billion, followed by Warren Buffett with $84 billion, French businessman Bernard Arnault with $72 billion, and Facebook CEO Marc Zuckerberg with $71 billion.

"Acharya Balkrishna derives his fortune from fast-growing consumer goods giant Patanjali Ayurved". He now owns just one per cent of shares from the company. Trump is tied with more than 20 other billionaires on the list.

Indian jeweller Nirav Modi is among the drop-offs from the list, along with Papa John's Pizza founder John Schnatter, Christoffel Wiese of South Africa, and Saudi Arabia's Prince Alwaleed Bin Talal Al Saud.

Although the value of his assets have increased over the past year, Lakshmi Mittal slid to the 62nd rank on the 2018 global list and to the third spot among Indians with $18.5 billion from the 56th worldwide rank with $16.4 billion in 2017. But President Donald Trump's fortune sank during his first year in office despite a surging stock market.

There were 259 newcomers, including the first ever cryptocurrency billionaires.

In 2002, McMahon made the Forbes 400 which has been a running list of the 400 most wealthy people in the United States.

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