Bill Gates’ fortune has dropped by a staggering $51 billion in just a matter of days as he ramps up his charitable donations, according to the Bloomberg Billionaire Index.
Once the richest man in the world, Gates now ranks 12th on the index, with his net worth falling from $175 billion earlier this month to $124 billion. Among those who have surpassed him is his former Microsoft colleague and current LA Clippers owner, Steve Ballmer, now ranked fifth with $173 billion. Tesla’s Elon Musk remains at the top with a net worth of $360 billion.
The sharp decline in Gates’ wealth is largely tied to his long-standing commitment not to die rich. In May, he announced plans to give away 99% of his wealth within the next two decades. The Bill & Melinda Gates Foundation—which he co-founded with his former wife—plans to shut down by December 31, 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 recent blog post.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”
Gates said his decision was driven in part by the life-saving impact of his foundation’s work—especially in delivering vaccines for treatable diseases like pneumonia and diarrhea that still claim lives in low-income countries. His commitment comes at a time when foreign aid from the U.S. and Europe is shrinking due to ongoing global conflicts.
Despite the decline, Gates remains unwavering in his mission. As of the most recent update, his net worth had dropped further to around $123 billion.
Founded in 2000, the Gates Foundation has become one of the largest charitable organisations in the world, having reportedly distributed over $100 billion to various global causes.
