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Amazon's Jeff Bezos named world's richest man

Amazon founder Jeff Bezos has become the world's richest man over the last 12 months.

The 54-year-old businessman has seen his wealth increase by an astonishing $60 billion in the last year, according to the Bloomberg Billionaire Index, which confirms his position as the world's richest man.

As a result, Bezos has overtaken Microsoft founder Bill Gates - who is now largely focused on his philanthropic work - at the head of the list.

In fact, Bezos' wealth is worth is now greater than Gates' at his peak in 1999, with the Microsoft billionaire now in second place.

Meanwhile, Bezos previously admitted that when he decided to found Amazon, he immediately knew he wasn't going to regret the decision.

He explained: "I knew that when I was 80, I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the internet that I thought was going to be a really big deal. I knew that if I failed, I wouldn't regret that.

"But I knew the one thing I might regret is not ever having tried. I knew that that would haunt me every day."

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