Bill Gates, the co-founder of Microsoft, has lost over $52 billion in just one week. This big loss has pushed him out of the top 10 richest people in the world. As of July 8, Gates is now in the 12th spot on the Bloomberg Billionaires Index, with a net worth of $124 billion. Just seven days ago, his net worth was $172 billion.
Why Did His Wealth Drop So Much?
The main reason for the drop is that Bill Gates is giving away most of his money. He donates a large amount to the Gates Foundation, a charity he runs. In a blog post in May, Gates said he plans to donate nearly all of his wealth in the next 20 years. He expects the foundation to spend around $200 billion by 2045 before closing.
Even though Gates owns about 1% of Microsoft, and has received $60 billion from stocks and dividends, his big donations are reducing his net worth fast.
Steve Ballmer Overtakes Bill Gates
Another surprising twist is that Steve Ballmer, a former CEO of Microsoft, is now richer than Gates. Ballmer, who led Microsoft from 2000 to 2014, is now in 5th place on the billionaire list, with a net worth of $172 billion.
Who Is in the Top 10 Now?
Here are the top 10 richest people in the world as of now:
- 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
Still Focused on Charity
Even though he is no longer among the top 10, Bill Gates remains focused on helping others. His foundation supports healthcare, education, and development projects around the world. Gates has also said that he plans to leave just 1% of his wealth to his three children, as he believes in sharing most of his fortune for good causes.
