Amazon Chief Executive Jeff Bezos dramatically surpassed Microsoft Founder Bill Gates on the Forbes 400 wealthiest Americans list released early Wednesday.
Gates, who has been the veteran title-holder of the well-heeled lineup for the past 24 years, trailed Bezos in 2018 with reported net worth of $97billion. Last year, his net worth was listed at $89billion.
As expected, Bezos topped the chart at $160billion - an astounding leap from his 81.5billion in 2017.
The retail giant CEO had already been dubbed the richest man in modern history back in July, when his net worth was $150billion.
The mark broke the record once held by Gates - who at the height of the dot-com boom, was worth $149billion after adjusting for inflation.
Furthermore, Berkshire Hathaway Boss Warren Buffet landed third on the Forbes list at $88.3billion, up from last year's $78billion.
Facebook CEO Mark Zuckerberg followed Hathaway at $71billion, compared to his 2017 net worth of $61billion.
Oracle Co-Founder Larry Ellison came fifth on the list at $58.4billion. Last year, $59billion.
Forbes Media assistant managing editors, Luisa Kroll and Kerry Dolan, said in a statement they are 'seeing more billionaires than ever before, thanks in part to the strong stock market and continuing tech boom.'
The statement said: 'For the first time, more than a third of US billionaires were too poor to make this elite list of the nation’s 400 richest.'
Also interesting, Donald Trump stooped a a whopping 138 spots on the list since 2015, when he first kicked off his presidential campaign.
The president fell 11 spots since last year - landing No. 259 on the wealthiest in America.
For the first time in history, Forbes scored prospects on philanthropic efforts.
The report said: 'For the first time, we scored each Forbes 400 member on their philanthropic giving, with scores ranging from 1 to 5, 5 being most philanthropic.'
Tesla CEO Elon Musk topped the philanthropy chart. He was listed No. 24 on the wealthiest.
Forbes said their estimates for the list overall 'are a snapshot of the fortunes of America’s wealthiest people using stock prices from September 7, 2018.'