Bill Gates Exits Top 10 Richest; Steve Ballmer Climbs to 5th in Global Wealth Rankings
Microsoft co-founder and philanthropist Bill Gates has officially dropped out of the top 10 richest people in the world, according to the latest Bloomberg Billionaires Index. Interestingly, Gates’ place in the top ranks has now been taken by Steve Ballmer, former Microsoft CEO and his long-time associate.
Gates, once consistently among the top five, has seen his net worth decline significantly — by nearly 30% in the past week alone, amounting to a drop of $52 billion. His current estimated net worth stands at $124 billion, placing him 12th on the global rich list. Meanwhile, Ballmer’s wealth has surged to $172 billion, making him the fifth richest person in the world.
Reason Behind the Shift
The sharp decline in Gates’ ranking is attributed not to business losses but to a re-evaluation of his net worth, which now includes a detailed assessment of his philanthropic commitments. As reported by Bloomberg, Gates addressed this in a blog post earlier this year, revealing that he had adjusted the way his wealth is calculated, taking into account the extensive donations he has made through the Bill & Melinda Gates Foundation.
Philanthropy Over Fortune
In a May blog post, Gates stated that his personal wealth is closer to $108 billion, acknowledging plans to donate nearly all of it within the next two decades. He projected that the Gates Foundation would spend around $200 billion by 2045, at which point it would cease operations.
To date, Bill Gates and his ex-wife Melinda French Gates have jointly contributed about $60 billion to the foundation through December 2024. Warren Buffett, another major philanthropist, has donated $43 billion to the same.
Gates' Current Investments
Gates currently owns just 1% of Microsoft, having earned approximately $60 billion from dividends and stock sales. The majority of his remaining wealth is managed through Cascade Investment, a private investment firm that handles diversified portfolios, including real estate, energy, and public and private companies.
As Gates continues to focus on global health and poverty initiatives, his shifting priorities reflect a growing trend among billionaires toward legacy-driven philanthropy — even as others like Ballmer rise up the wealth rankings.
The dramatic shift in global billionaire rankings has turned heads, with Steve Ballmer—former Microsoft CEO—now surpassing Bill Gates to become the fifth richest person in the world. The secret behind Ballmer’s surge lies in strategic decisions made during his tenure at Microsoft and his continued investment discipline.
Ballmer’s Strategic Equity Bet
Ballmer became CEO of Microsoft in 2000 and held the position until 2014. During his time at the tech giant, he opted to receive compensation in equity rather than profit-sharing or a traditional salary structure. This decision proved immensely profitable.
Ballmer owns approximately 4% of Microsoft, a stake that has skyrocketed in value due to the company’s phenomenal growth over the past decade. Unlike many other executives, Ballmer did not sell his shares, choosing instead to hold on to them. This long-term approach allowed his wealth to grow substantially as Microsoft’s stock soared to record highs.
In addition to his tech investments, Ballmer is also known as the owner of the NBA’s LA Clippers, further diversifying his portfolio.
Where Bill Gates Stands Now
In contrast, Bill Gates’ ranking has declined, largely due to his extensive philanthropic efforts. According to the latest figures, Gates has now been overtaken by several tech leaders, including Alphabet co-founders Larry Page and Sergey Brin, Nvidia CEO Jensen Huang, and Warren Buffett.
Economists and analysts suggest that Gates’ drop in net worth is less about financial missteps and more about his charitable giving, which has significantly reduced his personal wealth but greatly enhanced his social impact. In fact, Gates is now being hailed not just as a former tech titan but as a leading figure in global philanthropy.
While Gates has stepped back from the business spotlight, his contributions through the Bill & Melinda Gates Foundation continue to reshape global health, education, and development.