In a stunning drop that rattled the Bloomberg Billionaires Index, the Microsoft co-founder saw his net worth plummet by a staggering $51 billion last week alone nearly 30% of his remaining fortune. The steep decline comes just months after Gates publicly reaffirmed his plan to donate nearly everything he owns before he dies.
According to Bloomberg, Gates’ net worth stood at $175 billion on July 3. But by Thursday, it had sunk to $124 billion, reflecting a dramatic recalibration as his giving accelerates.
From Richest Man to 12th Place
Once the undisputed king of the global rich list for 18 years, Gates now finds himself ranked 12th, behind former Microsoft CEO Steve Ballmer, who holds the No. 5 spot with a $173 billion fortune. Ballmer, now the owner of the Los Angeles Clippers, has quietly leapfrogged his onetime boss.
Also edging ahead: tech investor Michael Dell and a lineup of ultra-wealthy industry giants.
A Promise With a Deadline
Back in May, the 69-year-old philanthropist stunned the philanthropic and tech worlds by announcing that not only would he donate the vast majority of his wealth, but that the Bill & Melinda Gates Foundation would shut its doors by 2045.
“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.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
That promise, it appears, wasn’t just rhetoric.
A $100 Billion Impact (and Counting)
Since its launch in 2000, the Gates Foundation has funneled more than $100 billion into causes ranging from disease eradication to global education. Its reach spans nearly every continent, and its footprint in the developing world is hard to miss.
Gates said his decision was reinforced by seeing the foundation’s work firsthand, especially efforts like vaccine distribution in countries still plagued by preventable diseases.
The Clock Is Ticking — and the World Is Watching
Gates has warned that global humanitarian aid is faltering. With U.S. foreign aid and international funding in decline, he’s become increasingly vocal about the consequences.
“It also came in response to what he described as a stalling of humanitarian progress, citing cuts in U.S. foreign aid and reduced global humanitarian funding,” the original article reported.
He echoed those concerns again recently, stating: “You could have literally millions of deaths” if support continues to falter.
The billionaire’s timeline now leaves just 20 years to complete one of the most ambitious philanthropic pledges in modern history.
A Fortune in Motion
For Gates, giving is no longer just a legacy plan. It’s a mission on a clock.
The Bloomberg Billionaires Index will keep recalculating. But if Gates sticks to his plan, he may continue slipping down the ranks by choice.
Meanwhile, the foundation he co-created with Melinda French Gates will continue to push forward… until, one day, it closes for good.
