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Bill Gates out of top 10 richest people list; now ranks below former Microsoft CEO he once hired
Bill Gates now ranks below his former colleague Steve Ballmer, the very man he once hired at Microsoft. Let that sink in
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Bill Gates is no longer among the top 10 billionaires in the world. A look at Bloomberg’s Billionaires Index clearly shows Gates now ranking at number 12, with a total net worth of $124 billion. He ranks just below Michael Dell, and notably much lower than his former Microsoft CEO Steve Ballmer, who is far higher on the list at number 5. As of 8 July, Bill Gates stands at number 12 on the list.
Why this sudden decline? It mostly stems from a recalculation of his net worth, which saw a $52 billion drop. This recalculation by Bloomberg was made to better reflect Gates's charitable contributions.
Bill Gates' wealth decline: Here’s what we know
The primary reason for the adjustment is Bill Gates’s long-standing plan to donate the majority of his wealth to charity. According to the Gates Foundation website, Bill Gates and his ex-wife, Melinda Gates, have given away a total of $60 billion as of last year.
Reportedly, Gates has also stated that he intends to spend over $200 billion for his charity efforts by the year 2045.
“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,” the Gates Foundation said in May, earlier this year.
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Surprising that his former employee is now wealthier than him
Steve Ballmer, a former Microsoft CEO, is now richer than Bill Gates, the man who founded Microsoft. Ballmer’s current net worth stands at $172 billion, just below Elon Musk at number 1, followed by Mark Zuckerberg with $253 billion, Larry Ellison at $248 billion, and Jeff Bezos with $244 billion.
Bill Gates is also behind other moguls including Sergey Brin, Warren Buffett, Michael Dell, and more.
