The Founder and Chief Executive of the top e-commerce business Amazon.com, Jeff Bezos on Thursday became the World’s third richest man by unseating the billionaire Warren Buffet. Jeff Bezos aged 52 owns 18 percent of the Amazon’s shares. According to the Forbes magazine, it is for the first time Buffet, the CEO of Berkshire Hathaway place is passed. Jeff was still at $200 million when the stock market closed on last Thursday, but soon after the opening on Friday he moved Buffet as his net worth jumped to $65.3 billion.

Bill Gates, Microsoft co-founder is still the world’s richest person, at $77.7 billion while Amancio Ortega, founder and owner of Zara clothing chain’s Inditex SA was at the second place with $72.7 billion. Facebook’s Co-founder and CEO Mark Zuckerberg was at fifth place with $54 billion. Since early February, Amazon’s shares are raised by 50 percent which added $19.8 billion to the Bezos fortune. Amazon’s revenue beat analysts’ profit of the company was $857 million where it was $92 million in 2015.

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The company launched Prime services in India last month to boost its sales in the country’s consumer market. “It’s been a busy few months for Amazon around the world, and particularly in India - where we launched a new [Amazon Web Services] Region, introduced Prime with unlimited free shipping, and announced that Prime Video is coming soon, offering Prime members in India exclusive access to Amazon Original Series and Movies - including original content featuring top Indian creators and talent,” Mr Bezos stated.

Earlier in the month of March when Forbes published its 2016 Billionaires list, Bezos was at fifth place with a net worth of $45.2 billion. Back in 1998 four years after founding Amazon, Jeff for the first time appeared on the Forbes’ list of 400 richest Americans with a net worth of $1.6 billion.

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Warren Buffet aged 85 donations of $2.9 billion to the Bill & Melinda Gates Foundation, and four family charities dropped his net worth to fourth place in the list. Since 2006 Buffet donated more than $24.3 billion to the Gates Foundation and family charities.