Thanks to a 59-percent rise in Amazon shares over the past 12 months, Bezos nearly doubled his fortune, taking it to $120 billion, way ahead of Gates's $90 billion - the biggest gap ever between the number one and two spots, Forbes said.
The 87-year-old "Oracle of Omaha" is another perennial powerhouse on any "world's richest" list.
Meanwhile, Anil Ambani, was ranked 887th on the list with a net worth of $2.7 billion.
This year's list included 259 new billionaires, while the names of 121 people who had made the list on previous occasions were dropped due to losses.
Bezos has a fortune of US$112 billion, up US$39.2 billion from 2017, the biggest one-year gain ever. This is up by 18 per cent since a year ago.
The software entrepreneur Azim Premji moves to the second richest Indian spot in 2018, passing Lakshmi Mittal, the worldwide steel tycoon, according to the magazine.
MUKESH AMBANI'S net worth has soared to United States dollars 40.1 Billion, making him the richest Indian for the 11th yr in a row, while Amazon founder Jeff Bezos, with a record fortune of $122 billion, toppled Bill Gates as the world's wealthiest person, says Forbes.
Talal was the wealthiest Arab in 2017 with a net wealth worth of $18.7 billion. More recently, it branched into health care in a partnership involving Berkshire Hathaway and its CEO, Warren Buffett, whose $84 billion fortune ranks third on the Forbes list.
Mukesh Ambani from Reliance is still the still richest Indian, with a fortune of $40 billion.
Top of the list is the founder and boss of online giant Amazon, Jeff Bezos.
Known for his financial prudence despite his vast fortune, Buffet co-founded the Giving Pledge in 2010 with Bill and Melinda Gates, wherein billionaires promise to give away the majority of their money to worthy causes.
It is followed by consumer goods with 15 billionaires, real estate with nine, and software services and diversified investments with eight each.
This exclusive club of the world's super-rich is collectively worth $9.1 trillion, according to Forbes' latest The World's Billionaires report, an 18 percent increase from the 2017 list.
This list highlights the richest people in the world.
There are nine others of Indian origin with assets over $2 billion from Australia, Britain, Malaysia, Indonesia, Singapore and the US.