Bill Gates’ fortune has plunged an astonishing $51 billion in just a few days as he steps up his charitable donations, according to the Bloomberg Billionaire Index.
Once the richest person in the world, Gates now ranks 12th on the list, with his net worth falling from $175 billion earlier this month to $124 billion. Among those who have overtaken him is his former Microsoft teammate and current Los Angeles Clippers owner Steve Ballmer, who sits fifth richest with $173 billion. Tesla’s Elon Musk remains at the top, valued at $360 billion.
Gates’ shrinking wealth reflects his long-stated commitment not to die wealthy. In May, he announced plans to give away 99% of his fortune within the next 20 years. The Gates Foundation, which he founded with his ex-wife Melinda, is set to close by the end of 2045.
“People will say many things about me when I die, but I’m determined that ‘he died rich’ won’t be one of them,” Gates wrote in a recent blog post. “There are too many urgent problems that need solving for me to hold onto resources that could help people.”
His decision is driven by the tangible impact his foundation has made, such as delivering vaccines against deadly but preventable diseases like diarrhea and pneumonia that continue to claim lives in low-income countries. This philanthropic push comes amid cuts in foreign aid from the U.S. and Europe due to ongoing global conflicts.
Despite the steady decline in his net worth—it recently slipped further to approximately $123 billion—Gates remains steadfast in his mission.
Since its creation in 2000, the Gates Foundation has grown into one of the world’s largest philanthropic organizations, reportedly distributing over $100 billion to a wide range of global causes.
