The world recognizes Bill Gates for doing so many things.
His name has echoed the halls of technologies, the society, pop culture and beyond, thanks to his success in co-founding a company that revolutionized PC with Windows, saving Apple from bankruptcy to then competing against it, and also waging war on open-source and Linux, waging the first-ever browser war against Netscape, and more.
But to most other people who aren't really following his ventures, Bill Gates' name to them represents wealth.
Gates sat at the throne, being the wealthiest man alive, until his net worth fell due to the fluctuating stock market, Microsoft's performance, as well as his philanthropic endeavours.
Regardless, Gates continued having his name at the top ten richest people in various rich lists.
Until one day he isn't.
For nearly two decades, since the beginning of the 1990s, Gates consistently ranked as either the richest or second-richest individual on the list of wealthiest people.
However, in a notable shift, Gates’ ranking has dropped to number 9 on the 2023 list of wealthiest, down from number 6 the previous year. Despite maintaining a vast fortune of $107 billion, his net worth has decreased by $4 billion over the past year, even when U.S. stock indices like the S&P 500 and Nasdaq 100 surged by 30%.
And this time, Gates' net worth has declined again, and now ranks number 12th richest.
This moment marks the first time he has fallen out of the top ten since 1991.
One significant factor contributing to his continuous decline, is his 2021 divorce from Melinda French Gates after 27 years of marriage.
When Melinda announced in May that she would step down as co-chair of the Bill & Melinda Gates Foundation, she also revealed plans to receive an additional $12.5 billion for her own philanthropic endeavors.
Her philanthropic arm, Pivotal Ventures, Melinda has committed to empowering more people, particularly women.
According to the organization’s website, she has allocated $2 billion toward expanding women’s power and influence. In 2022, she founded the Pivotal Philanthropies Foundation and endowed it with $674 million in publicly traded securities. It is anticipated that some of the $12.5 billion she has referenced will flow into this foundation.
Although she did not specify the source or timing of these funds, the transfer was not from the Gates Foundation but from Bill Gates himself, and it appears the funds have already been transferred.
The estimate of the settlement for his expensive divorce, is nearly tripling the initial figure.
At this time, Melinda French Gates’ net worth is estimated at $29 billion, up from $10.3 billion a year ago.
This makes her the ninth-richest woman in the U.S., just behind casino heiress Miriam Adelson. Representatives for both Gates and French Gates declined to comment on the specifics of their divorce settlement.
Gates has said that he is aware of this, and acknowledged that his wealth ranking would likely decline over time.
Gates also mentioned the possibility that he and Melinda might not continue working together but affirmed that the Gates Foundation is set to operate for another 25 years.
Regardless of his declining wealth, Gates is still an extremely wealthy man, with a net worth that is still way above $100 billion.
It's worth noting that Gates literally redefined wealthy when he reached the centibillionaire status when no one else hadn't.
At the time, Gates owned 19.8%, or about one billion shares, of the company he founded in 1975 with the late Paul Allen.
He owed his world record to the performance of Microsoft's stock.
At the time, Gates was 44-years-old.
It's also important to note that the billionaire index is constantly changing due to fluctuations in stock markets, business valuations, and asset performance. Factors such as personal investments, acquisitions, and economic conditions can significantly impact the net worth of billionaires.
And just days later, Gates reclaimed his spot among the top 10 richest, after briefly losing the position.
