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.
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