Connect with us

Hi, what are you looking for?

News

Bill Gates Exits Top Ten Richest Americans for the First Time

Image Source: Alexandros Michailidis / Shutterstock

Bill Gates, the co-founder of Microsoft, has for the first time since the 1990s dropped out of the top ten on Forbes’ list of the wealthiest individuals in America.

For almost twenty years, Gates maintained a position among the richest Americans, frequently holding the top two spots since 1990. However, he saw his ranking fall from No. 6 to No. 9 in the 2023 list, an unexpected shift.

Currently, Gates possesses a net worth of $107 billion, a decline of $4 billion over the past year, despite notable gains of 30% in both the S&P 500 and the Nasdaq 100.

In a significant development, an American billionaire has now secured the No. 12 position on the global billionaire list, marking Gates’ first exit from the top ten since 1991. He is now positioned behind influential figures like Elon Musk, Larry Ellison, and Jeff Bezos. Musk retains the top spot, with Ellison in second and Bezos in third. Mark Zuckerberg comes in fourth, while Bernard Arnault and his family are in fifth. Warren Buffett is ranked sixth, with Larry Page in seventh, and Amancio Ortega in eighth.

Reasons Behind Bill Gates’ Wealth Reduction

The decline in Gates’ fortune can be partly attributed to his divorce from Melinda French Gates after a 27-year marriage. Following the split, Melinda chose to step down as co-chair of the Bill & Melinda Gates Foundation, aiming to secure an additional $12.5 billion for her own philanthropic endeavors. This amount is being provided directly by Gates to Melinda and is distinct from the foundation’s assets.

The estimated divorce settlement has nearly tripled, suggesting a shift in Bill Gates’ financial landscape. He has indicated that his ranking might continue to decrease and hinted at a potential end to his partnership with Melinda. Nevertheless, he has assured that the Gates Foundation is expected to continue its operations for another 25 years.

Image Source: Alexandros Michailidis / Shutterstock

Advertisement. Scroll to continue reading.
AIAD

You May Also Like

News

NEW DELHI: India’s finance ministry has issued a guidance note to its employees, advising against the use of artificial intelligence (AI) tools like ChatGPT...

News

The ICT export remittances sector has been pivotal to Pakistan’s economic landscape, accounting for more than 10.5% of total exports in FY2023-24. The rapid...

Reviews

Reports suggest that Microsoft is engaged in talks to purchase the US division of TikTok from ByteDance, as indicated by President Donald Trump. While...

News

Starlink is gearing up to roll out its satellite internet services in Bangladesh, with an official launch expected soon. This announcement comes on the...