Here's Why Bill Gates Drops To Historic Low On Forbes 400 List

Bibhu Pattnaik

October 05, 2024

Tech titan and co-founder of Microsoft, Bill Gates has descended to his lowest position on the Forbes 400 list in almost a quarter of a century.

What Happened: Despite amassing a colossal fortune of $107 billion, Gates has slipped to the ninth position, a significant drop from his sixth place ranking last year.

As per the report by Forbes, his net worth has also seen a $4 billion decrease from the previous year, even as U.S. stock indices such as the S&P 500 and the Nasdaq 100 surged by 30%. This marks the first time since 1991 that Gates has not featured among the top ten wealthiest individuals globally.

A key contributor to this decline is Gates’ 2021 divorce from Melinda French Gates. Forbes has almost tripled its previous estimate of the divorce settlement awarded to French Gates, elevating her net worth to an estimated $29 billion, a substantial increase from $10.3 billion last year.

Also Read: Bill Gates' Leadership Instills Fear, Created â€˜King's Court-Like' Atmosphere At Foundation

Additionally, French Gates has received an extra $12.5 billion for her philanthropic endeavors, funds that were not a transfer from the Gates Foundation but a direct contribution from Bill Gates. This has positioned her as the ninth-richest woman in the U.S.

During the Forbes 400 Summit on Philanthropy in September 2022, Gates had anticipated his decline on the Forbes ranking, expressing his intention to continue donating more of his wealth until he eventually falls off the Forbes billionaires list.

Why It Matters: The drop in Gates’ ranking on the Forbes 400 list is indicative of his ongoing commitment to philanthropy.

His decision to donate a significant portion of his wealth, coupled with the financial implications of his divorce, has resulted in a noticeable shift in his financial standing.

Despite this, Gates continues to be a prominent figure in the tech industry and his philanthropic efforts continue to make a significant impact worldwide.

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