Amazon's CEO now the richest man in the world

Amazon's CEO now has a new title- the richest man in the world.

Jeff Bezos passed Bill Gates for the top spot Thursday morning- after Amazon's stock increased around one percent. 

Forbes now estimates that Bezos is worth $90.6 billion, $600 million more than Gates is reportedly worth.

Microsoft's founder has held the title 18 of the last 23 years. 

Bezos owns about 17% of Amazon's shares. He also owns The Washington Post and rocket company Blue Origin. 

Bezos' increase in wealth could be due in part to Amazon's stock surging over the last year. It has increased nearly 40% in that time. 

Recently, Bezos has taken to Twitter to work on his philanthropic efforts.