Jeff Bezos ranks as the world's third richest person

Amazon founder and chief executive officer Jeff Bezos, with a net worth of $65.05bn £49.5bn , has edged out Warren Buffett by $32m to become the world's third-richest person.

Bezos's wealth increased by $5.4bn in 2016, with Amazon being the major source of profit, according to Bloomberg Billionaires Index.

Amazon has derived gains from several areas including its quick delivery service, cloud services and gadgets such as Kindle and the Echo Bluetooth speaker.

In April this year, Amazon posted its biggest-ever income, with first quarter sales surging 28%, including a 64% rise in Amazon Web Services.

The company's Prime membership model is also responsible for higher profits.

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