Latest news with #BloombergBillionaire
New York Post
4 days ago
- Business
- New York Post
Bill Gates' net worth plummets $51 billion within days as Microsoft mogul amps up philanthropy
Bill Gates is giving it all away. The megabucks Microsoft founder's fortune has plunged a staggering $51 billion in a few days because he's ramped-up hist charitable donations, according to the Bloomberg Billionaire index. Once the richest man on earth, Gates' net worth fell to a measly $124 billion on Thursday – a steep drop from the $175 billion he had in hand as recently as July 3 and sinking him to 12th place in the index rankings. Advertisement Among the billionaires who now surpass Gates, 69, is his former right-hand man at Microsoft, Los Angeles Clippers owner Steve Ballmer, who is now ranked the fifth-richest man in the world at $173 billion. 4 Bill Gates' net worth – which was $175 billion as of July 3 – plummeted to $124 billion Thursday, according to the Bloomberg Billionaire index. AFP via Getty Images Tesla founder Elon Musk tops the list with a net worth of $360 billion. Advertisement Gates' net worth is sinking in large part because of his pledge to not die rich. In May, he revealed that he wants to give away 99% of his money within the next 20 years before closing the Gates Foundation he created with his former wife, Melinda, on Dec. 31, 2045. 4 Gates' net worth is sinking in large part because of his pledge to not die rich. 'People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them,' Gates wrote in a May 8 blog post. Advertisement 'There are too many urgent problems to solve for me to hold onto resources that could be used to help people.' Gates' decision to give away his fortune came after he saw firsthand the impact of his foundation's work distributing vaccines for easily treatable illnesses that still kill many in the third world, such as diarrhea and pneumonia, he said. 4 Gates' former his former right-hand man at Microsoft, Los Angeles Clippers owner Steve Ballmer, is now ranked the fifth-richest man in the world with $173 billion. Getty Images But it also came in the face of what he called a stalling of progress as the U.S. and Europe cut back on foreign aid and reduced humanitarian funding in the face of conflict in Ukraine and Israel. Advertisement Bloomberg on Thursday noted it lowered Gates' appreciation rates to 'better reflect Gates' outside charitable giving and the wealth estimate,' Forbes reported. 4 Bill Gates and his ex-wife Melinda established their philanthropic Gates Foundation in 2000. CBS via Getty Images Still, Gates isn't changing his stance. As of Saturday, his fortune had slipped again, to an estimated $123 billion, according to Bloomberg. Gates and his former wife established their foundation in 2000, with plans to continue its philanthropic work for decades after their deaths. The foundation, one of the world's largest charitable organizations, has reportedly given away more than $100 billion since its inception.
Yahoo
24-02-2025
- Business
- Yahoo
Ari Emanuel, UFC and WWE owner, is now officially a billionaire for the first time in his career
Ari Emanuel has joined the billionaire's club. Emanuel, who is the CEO of TKO Group Holdings — the combined corporate umbrella for combat giants UFC and WWE — and Endeavor Group Holdings, was officially added to the Bloomberg Billionaire index for his personal wealth for the first time in his career, the network reported earlier this month. It's unclear what Emanuel's personal net worth actually is, but it has surpassed the $1 billion threshold. A big force in Emanuel finally hitting that mark has to do with his ownership of both the UFC and WWE. Endeavor Group Holdings has seen a nearly 50% jump in share price over the past year. Emanuel and the company purchased the UFC for $4 billion in 2016, and later took over WWE. It acquired WWE for $9.3 billion in 2023 and merged it with the UFC into TKO Group. That company's stock price has gone up by more than 70% since its public listing, per the report. TKO is now valued at more than $27 billion. Both the UFC and WWE have seen significant growth in recent years with Emanuel and his groups in charge, too. WWE inked a $5 billion deal with Netflix for 'Monday Night Raw,' and UFC is working for a new broadcast rights deal starting in 2026 that could surpass $1 billion per year. Before getting into the fighting space, Emanuel's company represented clients like Oprah Winfrey and Matt Damon. He worked as Donald Trump's agent in 2010 before he ran for president, and he has a strong relationship with Elon Musk. Endeavor was the first outside investor in Musk's push to buy Twitter. Emanuel was also the inspiration for the character 'Ari Gold,' who was portrayed by Jeremy Piven on the HBO series 'Entourage.' He is also an early investor in Uber and a founding investor in the Raine Group, which is a global merchant bank. Both of those, Bloomberg said, could raise his net worth significantly.
