Latest news with #Gates'
New York Post
12-07-2025
- Business
- New York Post
Bill Gates' net worth plummets $51 billion within days as Microsoft mogul amps up philanthropy
Bill Gates is giving it all away. The megabucks Microsoft founder's fortune has plunged a staggering $51 billion in a few days because he's ramped-up hist charitable donations, according to the Bloomberg Billionaire index. Once the richest man on earth, Gates' net worth fell to a measly $124 billion on Thursday – a steep drop from the $175 billion he had in hand as recently as July 3 and sinking him to 12th place in the index rankings. Advertisement Among the billionaires who now surpass Gates, 69, is his former right-hand man at Microsoft, Los Angeles Clippers owner Steve Ballmer, who is now ranked the fifth-richest man in the world at $173 billion. 4 Bill Gates' net worth – which was $175 billion as of July 3 – plummeted to $124 billion Thursday, according to the Bloomberg Billionaire index. AFP via Getty Images Tesla founder Elon Musk tops the list with a net worth of $360 billion. Advertisement Gates' net worth is sinking in large part because of his pledge to not die rich. In May, he revealed that he wants to give away 99% of his money within the next 20 years before closing the Gates Foundation he created with his former wife, Melinda, on Dec. 31, 2045. 4 Gates' net worth is sinking in large part because of his pledge to not die rich. 'People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them,' Gates wrote in a May 8 blog post. Advertisement 'There are too many urgent problems to solve for me to hold onto resources that could be used to help people.' Gates' decision to give away his fortune came after he saw firsthand the impact of his foundation's work distributing vaccines for easily treatable illnesses that still kill many in the third world, such as diarrhea and pneumonia, he said. 4 Gates' former his former right-hand man at Microsoft, Los Angeles Clippers owner Steve Ballmer, is now ranked the fifth-richest man in the world with $173 billion. Getty Images But it also came in the face of what he called a stalling of progress as the U.S. and Europe cut back on foreign aid and reduced humanitarian funding in the face of conflict in Ukraine and Israel. Advertisement Bloomberg on Thursday noted it lowered Gates' appreciation rates to 'better reflect Gates' outside charitable giving and the wealth estimate,' Forbes reported. 4 Bill Gates and his ex-wife Melinda established their philanthropic Gates Foundation in 2000. CBS via Getty Images Still, Gates isn't changing his stance. As of Saturday, his fortune had slipped again, to an estimated $123 billion, according to Bloomberg. Gates and his former wife established their foundation in 2000, with plans to continue its philanthropic work for decades after their deaths. The foundation, one of the world's largest charitable organizations, has reportedly given away more than $100 billion since its inception.
Business Insider
09-07-2025
- Business
- Business Insider
Billionaire Bill Gates drops out of world's top 10 richest people ranking
Microsoft co-founder and philanthropist Bill Gates is no longer among the world's ten richest individuals, marking a rare shift in global wealth rankings. Bill Gates has exited the list of the world's ten richest individuals. His net worth, currently $123 billion, declined due to substantial philanthropic donations. The current Bloomberg Billionaires Index reflects Gates' decline to twelfth place in wealth rankings. Once the world's richest man for over a decade, Gates has gradually slipped down the list amid changing market dynamics, major philanthropic donations, and the meteoric rise of tech and luxury moguls. According to the latest Bloomberg Billionaires Index, Gates has been overtaken by a wave of ultra-wealthy individuals from sectors such as fashion, luxury goods, and electric vehicles, including names like Elon Musk, Jeff Bezos, Bernard Arnault, and Mark Zuckerberg. His net worth, currently estimated at around $123 billion, remains massive but no longer places him in the top tier of global wealth. Gates' wealth slump traced to charity One key reason behind Gates' decline in ranking is his sustained commitment to philanthropy. Through the Bill & Melinda Gates Foundation, he has donated tens of billions of dollars to global health, education, and development causes voluntarily reducing his personal fortune over time. According to an analysis, Gates' fortune was reduced by over $50 billion, almost by 30% this week. This recalculation shrank his net worth from over $175 billion to $123 billion, moving him from fifth to twelfth place on the Bloomberg Billionaires Index. Steve Ballmer, his former assistant and successor as Microsoft's former CEO, with a net worth of $172 billion, replaced Gates in the fifth spot. While his drop from the top 10 marks the end of an era, Gates remains one of the most influential figures in tech and philanthropy. His focus in recent years has shifted away from corporate leadership to global health, climate innovation, and education reform which are priorities that have increasingly defined his legacy over net worth. Bill Gates has also renewed his focus on Africa by pledging to direct the majority of his $200 billion fortune over the next 20 years toward the continent, targeting health, education, and innovation. According to the most recent Bloomberg Billionaires Index, the table below presents the top 10 richest men in the world as of July 8, 2025. Rank Name Total Net Worth ($) Country/Region Industry 1 Elon Musk $349B United States Technology 2 Mark Zuckerberg $254B United States Technology 3 Larry Ellison $250B United States Technology 4 Jeff Bezos $240B United States Technology 5 Steve Ballmer $171B United States Technology 6 Bernard Arnault $159B France Consumer 7 Larry Page $158B United States Technology 8 Sergey Brin $149B United States Technology 9 Warren Buffett $143B United States Diversified 10 Jensen Huang $140B United States Technology
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Business Standard
08-07-2025
- Business
- Business Standard
Bill Gates slips out of top 10 world's richest men; loses $52 bn in a week
Microsoft co-founder Bill Gates is out of the top ten ranking on the world's richest list, according to the Bloomberg Billionaires Index. Gates, the billionaire who once ruled the Bloomberg Billionaires Index, has now slipped from the 5th position to the 12th position with his total net worth currently at $124 billion, lower than his former assistant and successor as Microsoft's former chief Steve Ballmer, who has taken over the 5th spot on the billionaires index. In a week, Gates' wealth has declined a staggering 30 per cent or $52 billion. Previously, his net worth was reported at $172 billion. In the last day, his wealth plummeted $351 million. The latest change comes after a recalculation was done of Gates' charitable offerings. According to the Bloomberg Billionaires Index, the appreciation rates used in the calculations were lowered on July 3, 2025, to better reflect Gates' outside charitable giving and the wealth estimate provided in a May 8, 2025, Gates Notes blog post. Bill Gates' latest losses have put him behind Berkshire Hathaway CEO Warren Buffett, Google-parent Alphabet's co-founders Larry Page and Sergey Brin, LVMH CEO Bernard Arnault, and Nvidia CEO Jensen Huang. Earlier, in May 2025, Gates, in a blog post, announced a 20-year deadline to donate his wealth through his Gates Foundation to the cause of saving and improving lives around the world, adding that on December 31, 2045, the foundation will close its doors permanently. In the blog post, he mentioned that he had $108 billion in net wealth and had committed to donate almost all of it towards charity in the next 20 years. The blog mentioned, 'On the occasion of its 25th year, the Gates Foundation today made a new commitment to accelerate its mission to help all people live healthy, productive lives by spending $200 billion over the next 20 years. The decision marks a major acceleration in the foundation's work and sets a new date of 2045 to sunset its operations.' Gates owns a one per cent stake in Microsoft, the world's largest software maker, and has received $60 billion worth of stocks and dividends.
NDTV
08-07-2025
- Business
- NDTV
Bill Gates No Longer In Top 10 Richest List After Net Worth Falls By 30%
Microsoft co-founder Bill Gates is no longer among the 10 richest people in the world after losing $52 billion in net worth in a matter of seven days. Mr Gates' net worth plummeted by a staggering 30 per cent when his charity contributions were recalculated, as per the Bloomberg Billionaires Index. Mr Gates was replaced in fifth position by his former assistant and ex-Microsoft CEO, Steve Ballmer, who now has a higher net worth of $172 billion. The co-founder went from fifth to twelfth on the Bloomberg Billionaires Index after his net worth dropped from nearly $175 billion to $124 billion following the recalculation. In the rankings, Mr Gates is now behind long-time friend and Berkshire Hathaway CEO Warren Buffett, Google-parent Alphabet's co-founders Larry Page and Sergey Brin, LVMH CEO Bernard Arnault, and Nvidia CEO Jensen Huang. Here's a list of the 12 richest people as of July 4, 2025: 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 Bill Gates - $124 billion Mr Gates' personal wealth abruptly declined as a result of his large charity contributions and the Gates Foundation donation. They claimed to modify the appreciation rates to "better reflect Mr Gates' outside charitable giving and the wealth estimate" he shared in a May blog post. In the blog, he said he had $108 billion in net wealth and committed to donating almost all of it over the next 20 years through the Gates Foundation. The foundation will have spent over $200 billion before closing by the end of 2045, he estimated. Mr Gates and his ex-wife, Melinda French Gates, gave the Gates Foundation an astounding $60 billion by the end of December 2024. He currently owns around one per cent of Microsoft and has received dividends and stock worth approximately $60 billion. Mr Ballmer has surpassed his former boss in wealth, a remarkable accomplishment for an ex-employee in comparison to the company's founder. This is mostly because Microsoft changed its early compensation agreement from profit-sharing to stock. Mr Ballmer took over as CEO in 2000 and exited in 2014, leaving with a 4 per cent ownership stake. His fortune has increased dramatically over the last 10 years due to the rise in Microsoft's shares.
Yahoo
30-06-2025
- Business
- Yahoo
If Bill Gates' Wealth Was Evenly Distributed Across America, How Much Money Would Every Person Get?
Most Americans will never even know what it's like to make a billion dollars, but Bill Gates knows that life well. The co-founder of Microsoft is worth $116.5 billion and is the 12th richest person in the world, according to Forbes. In addition to founding Microsoft, Gates has amassed wealth by investing in Berkshire Hathaway, Waste Management Inc. and Canadian National Railway, to name a few. Along with his ex-wife, Melinda, Gates is known for his philanthropy. According to Forbes, he has donated more than $59 billion to the Gates Foundation, which works to improve public health. Trending Now: Read Next: Perhaps you are wondering what it would be like to have just a piece of Gates' wealth. What would happen if Gates split his entire $116.5 billion among every person in America? Here's how much you would get. Sometimes it feels like 'rich' is something that we know when we see it, but Charles Schwab quantified it in their 2022 Modern Wealth Survey. The average net worth of someone to be considered wealthy was determined to be $2.2 million. However, the average net worth of someone deemed 'financially comfortable,' was much less at $774,000. Respondents that took the survey said having money meant having more financial freedom and flexibility. If these figures seem alienating to you, you're not alone. Most Americans are not considered rich, at least in the definition of the survey. The average net worth of households in the United States is $121,760, according to U.S. News. Find Out: To figure out the equation, we needed to see just how many people we were splitting Gates' fortune among. As of June 2025, 347 million people live in America, according to Worldometer. Now, let's get to the final number that we'd all go home with if we split Gates' fortune. His $116.5 billion split among 347 million people would come out to about $335.74 per person. Look, would it be nice to find this on the street? Of course! But, is it life-changing money? Not really. It's far from the amount needed to put most people into the tax bracket of the rich. However, it would still cover a lot of groceries. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on If Bill Gates' Wealth Was Evenly Distributed Across America, How Much Money Would Every Person Get?
