Bill Gates's philanthropy causes $51 billion net worth drop
Business
Bill Gates just slipped out of the world's top 10 richest people after his net worth dropped by $51 billion in a single week—falling from $175 billion to about $124 billion.
He now sits at 12th place, while Steve Ballmer has climbed to fifth.
The main reason? Gates is giving away most of his fortune.
Gates is donating 99% of his wealth
Even with this huge drop, Gates isn't backing down on charity.
In May 2025, he shared plans to donate 99% of his wealth over the next 20 years and close the Bill & Melinda Gates Foundation by 2045.
Since it started in 2000, the foundation has already given more than $100 billion to global causes.
Bloomberg even adjusted its rankings to reflect how much he's pledged—showing how big giving can really shake up billionaire lists.