Microsoft co-founder Bill Gates has dropped to 12th place on the Bloomberg Billionaires Index, with an estimated net worth of $124 billion. He now ranks below former Microsoft CEO Steve Ballmer, whose fortune—largely tied to Microsoft shares—has continued to grow.
Gates’ relative decline is attributed to his decades-long philanthropic efforts. Through the Bill & Melinda Gates Foundation, he has donated over $50 billion, significantly reducing his personal fortune. He has also pledged to give away almost all of his wealth over time.
While there is no confirmed public plan for the foundation to close by 2045, Gates has stated his intention to disburse most of the foundation’s endowment within 25 years of its founders’ deaths.
Meanwhile, Elon Musk remains the world’s richest person, followed by Jeff Bezos and Mark Zuckerberg, according to the latest rankings.
By: Philip Obin
