Bill Gates has officially fallen out of the world’s top 10 richest people after his net worth dropped by $52 billion — nearly 30% — from $175 billion to $124 billion, according to the latest Bloomberg Billionaires Index.
The shift comes after Bloomberg updated its calculations to account for Gates’ longstanding pledge to donate “virtually all” of his fortune by 2045 through the Bill & Melinda Gates Foundation.
Now ranked 12th, the Microsoft co-founder sits behind his former colleague Steve Ballmer and several other tech moguls.
Gates, who has consistently emphasized that he does not plan to die wealthy, has dedicated much of his fortune to global health, education, and poverty alleviation initiatives.
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