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Bill Gates dropped out of the list of the world's 10 richest people in a week; know who took his place

Founder Bill Gates has fallen out of the top ten richest people in the world after a sudden reassessment of his wealth led to large philanthropic gifts. Bill Gates’ wealth fell by nearly 30 percent this week when the Bloomberg Billionaires Index recalculated his fortune to reflect his continued philanthropic giving. The recalculation slashed his estimated wealth by nearly $52 billion, from more than $175 billion to $124 billion. The steep decline has dropped the Microsoft founder from fifth to twelfth place on Bloomberg’s list of the world’s billionaires.

In a dramatic turn of events, Gates’ former assistant and former Microsoft CEO Steve Ballmer has overtaken him on the billionaires list. Ballmer is now in fifth place with a net worth of $172 billion. The achievement is significant because Ballmer, who was once an employee of Gates, now enjoys a larger fortune than the Microsoft founder. Ballmer’s fortune has grown rapidly as a result of Microsoft’s strong stock performance over the past decade. After stepping down as CEO in 2014, Ballmer still owned a 4 percent stake in the company — a move that has yielded rich returns.

The recalculation follows Gates’ revelation in a May blog posting that he declared his net worth to be US$108 billion and pledged to donate almost the entire amount over the next two decades through the Bill & Melinda Gates Foundation. Gates had estimated that the foundation would donate more than US$200 billion before it shuts down by the end of 2045. According to the foundation's website, Gates and his ex-wife Melinda French Gates had already donated a combined total of US$60 billion as of December 2024. Warren Buffett, chairman of Berkshire Hathaway and a close friend of Gates, has donated US$43 billion to the same foundation.

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