In a surprising event, Bill Gates, co-founder of Microsoft, is no longer among the world's top 10 richest people. According to the Bloomberg Billionaires Index, Gates lost $52 billion in just a week, establishing a drop in his net worth by 30 per cent. The report stated that Gates was replaced in the fifth position by his former assistant and Microsoft CEO, Steve Ballmer, and he now stands in the twelfth position on the Bloomberg Billionaires Index. Gates’ net worth dropped from nearly $175 billion to $124 billion. The report further suggested that Gates’ net worth saw a significant decline following major charitable contributions, including a substantial donation to the Gates Foundation. According to updated estimates, analysts adjusted the growth rate of his wealth to better reflect the scale of his giving, as highlighted in a blog post he shared in May. In the post, Gates revealed that his net wealth stood at $108 billion and reaffirmed his commitment to donating nearly all of it within the next two decades through the Gates Foundation. By the time the foundation winds down in 2045, it is projected to have disbursed over $200 billion. View this post on Instagram A post shared by Bill Gates (@thisisbillgates) As of December 2024, Gates and his former wife, Melinda French Gates, had jointly contributed an extraordinary $60 billion to the foundation. Gates currently retains about 1 per cent ownership in Microsoft and has received roughly $60 billion in dividends and stock over the years. The top 12 richest people as of July 4 includes, Elon Musk ($361 billion), Mark Zuckerberg ($254 billion), Larry Ellison ($253 billion), Jeff Bezos ($244 billion), Steve Ballmer ($172 billion), Larry Page ($163 billion), Bernard Arnault ($161 billion), Sergey Brin ($152 billion), Warren Buffett ($146 billion), Jensen Huang ($139 billion), Michael Dell ($138 billion), and Bill Gates ($124 billion).
