Amazon founder and CEO Jeff Bezos' accumulated riches make him the wealthiest person on the planet, ending Microsoft co-founder Bill Gates' 24-rear run atop Forbes' annual ranking of the 400 richest Americans.

The first person in the famed Forbes 400 ranking to amass a fortune of more than $100 billion, Bezos now has a net worth pegged at $160 billion, up a whopping $75.5 billion from just a year ago, Forbes said. The media outlet attributes the jump in large part to Amazon's stock price soaring more than 100 percent since 2017.

Bezos, who on Tuesday announced a new $15 an hour minimum wage for his more than 300,000 Amazon workers, pushes Gates to No. 2 on the Forbes 400, trailing Bezos by $63 billion with a net worth of $97 billion, according to Forbes.

Berkshire Hathaway's Warren Buffett is the third wealthiest American, with a net worth of $88.3 billion, followed by Facebook founder Mark Zuckerberg at $61 billion, Forbes said. Oracle's Larry Ellison and Google's Larry Page ranked fifth and sixth, worth $58.4 billion and $53.8 billion, respectively. The Koch brothers Charles and David tied for the 7th slot, both holding fortunes of $53.5 billion. Google's Sergey Brin landed in the 9th spot, at $52.4 billion, and Michael Bloomberg rounded off the top 10, with an estimated fortune of $51.8 billion.