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Amazon CEO Jeff Bezos at the grand opening of the company’s Spheres building in Seattle. (GeekWire Photo / Kurt Schlosser)

Amazon CEO Jeff Bezos reached a new milestone Monday, becoming the richest person in modern history as his net worth surged past $150 billion.

Bloomberg reported that Bezos has amassed more wealth than anyone since at least 1982 when Forbes began publishing its ranking. According to the Bloomberg Billionaires Index, Bezos has $55 billion more than second-place Bill Gates.

Amazon’s stock has nearly doubled in the past year and was trading at around $1,830 per share Monday as the company prepared to launch its fourth annual Prime Day shopping extravaganza.

Bloomberg noted that Gates, the Microsoft co-founder, would have a net worth of around $150 billion had he kept his assets instead of giving billions away to charity and his foundation.

Bezos has given millions to various causes over the years and but his philanthropic profile hasn’t elevated to the level of his billionaire peers, like Gates and Warren Buffett. Over the past year, he has been collecting suggestions for where he should direct part of his fortune.

Bezos has become the target of many in Seattle who are upset with the Amazon founder and his company’s impact on their city. Amazon has historically been criticized for its limited engagement in local issues and philanthropy but in recent years it has announced housing for homeless families, contributed large sums to the University of Washington’s computer science program, and supported a mass transit initiative. It now employs 45,000 in Seattle.

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