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Microsoft co-founder Bill Gates fell out of the world's top ten wealthiest individuals after a sudden revaluation of his wealth to account for huge philanthropic gifts. Bill Gates' wealth declined by close to 30 per cent this week when Bloomberg Billionaires Index recalculated his fortune to reflect his continued philanthropic donations. The recalculation lowered his estimated wealth by approximately 52 billion USD, reducing it from more than 175 billion USD to 124 billion USD. The precipitous decline has dropped the Microsoft founder from fifth to twelfth rank on Bloomberg's rich list of the world's billionaires.

Steve Ballmer Overtakes Gates With 172 Billion USD Net Worth

In a dramatic turn of events, Gates' ex-aid and ex-CEO of Microsoft Steve Ballmer has surpassed him on the list of billionaires. Ballmer is now ranked fifth with a net worth of 172 billion USD. This achievement is significant since Ballmer, who was once a Gates employee, now enjoys a greater fortune than Microsoft's founder. The fortune of Ballmer has increased exponentially as a result of Microsoft's robust stock performance within the past decade. Upon resigning as the CEO in 2014, Ballmer still owned a 4 per cent share in the company—a move that has yielded bountiful returns.

The recalculation came after Gates' own revelation in a May blog posting. He announced his net worth to be 108 billion USD and committed to giving away almost the entire amount through the Bill & Melinda Gates Foundation over the next two decades. Gates estimated that the foundation would give away more than 200 billion USD before closing down at 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 60 billion USD by December 2024. Berkshire Hathaway chairman and close friend of Gates, Warren Buffett, has donated 43 billion USD to the very same foundation.

Microsoft Shares Hold Secret To Ballmer's Fortune Boom

Bill Gates still has about 1 per cent of Microsoft and has been paid an estimated 60 billion USD in dividends and stock since helping start the technology giant. His remaining fortune is controlled through Cascade Investment, a holding firm with interests in real estate, energy, and other public and private companies. Steve Ballmer, on the other hand, profited from Microsoft's early transition from profit-sharing to stock-based compensation. Holding on to his Microsoft stock, as opposed to Gates and late co-founder Paul Allen, who diversified their investments, has made him one of the world's richest individuals. Ballmer is also the owner of the Los Angeles Clippers of the NBA.

World's 12 Richest People Now:

Based on the Bloomberg Billionaires Index, below are the current top twelve richest individuals in the world:

1. Elon Musk – 361 billion USD
2. Mark Zuckerberg – 254 billion USD
3. Larry Ellison – 253 billion USD
4. Jeff Bezos – 244 billion USD
5. Steve Ballmer – 172 billion USD
6. Larry Page – 163 billion USD
7. Bernard Arnault – 161 billion USD
8. Sergey Brin – 152 billion USD
9. Warren Buffett – 146 billion USD
10. Jensen Huang – 139 billion USD
11. Michael Dell – 138 billion USD
12. Bill Gates – 124 billion USD

With his revised ranking, Gates now falls behind Alphabet founders Larry Page and Sergey Brin, Nvidia boss Jensen Huang, luxury behemoth LVMH's Bernard Arnault, and Warren Buffett. The recalculation highlights Gates' solitary status among billionaires: he is still one of the richest people in the world but is committed to donating almost all of his wealth during his lifetime.