Mubasher: The fortune of US billionaire Jeff Bezos has reached a new record at $151 billion, backed by gains on Amazon’s stock.

On Monday, Amazon’s stock surged to $1,841.9 during the session, but closed a 0.5% rise at $1,822.5.

The increase in the US billionaire’s wealth coincides with Amazon’s prime day, a 36-hour time frame where the online retailer makes massive discounts and offers.

Gains on Amazon’s share have pushed Bezos’ richest man ranking to number 1, beating Microsoft founder Bill Gates, whose fortune currently amounts to $55 billion.

Since the start of 2018, Amazon’s stock has grown by as much as 60%, while the company’s market value exceeded $890 billion, nearing Apple Inc.’s $935 billion market value.

Seattle-based Amazon is schedule to release its financial results for the second quarter of 2018 on 26 July.