Jeff Bezos, Chief Executive Officer of Amazon has become the richest person in modern history with his net worth crossing the $150 billion mark.

According to a Bloomberg report, Bezos’ net worth went past the $150 billion mark after Amazon's stock price surged ahead of Amazon’s Prime Day sale — a 36-hour shopping bonanza organized by the company. In the Bloomberg Billionaires Index, Bezos displaces Bill Gates to second place with $55 billion more in his kitty. Gates has $95.3 billion pushing him a notch below Bezos in the rankings.

Gates would have had a net worth of more than US$150 billion if he’d held onto assets that he’s given away, largely to the Bill & Melinda Gates Foundation.

Jeff Bezos net worth has soared by $52 billion this year, which is more than the entire fortune of Alibaba Group Holding Ltd. Chairman Jack Ma, Asia’s wealthiest person.Shares of the company, which had climbed to a record $1,841.95 earlier on Monday, pared gains on the news, closing up 0.5% at $1,822.49. Bezos’s stay above $150 billion may be short-lived.

Federal Reserve report found the top 1 percent of U.S. families controlled 38.6 percent of wealth in the U.S. in 2016, compared with 22.8 percent held by the bottom 90 percent.