Latest news with #Gates
Time of India
18 hours ago
- Business
- Time of India
Bill Gates' net worth drops $51 billion in one week; here's why the Microsoft co-founder is happy to give it away
The Bloomberg Billionaires Index updated its ledger on July 13 and wiped $51 billion off Bill Gates' fortune in a single stroke. One week earlier, he sat on an estimated $175 billion; the revision puts him near $124 billion, nudging him down to twelfth place globally. Tired of too many ads? go ad free now The plunge isn't the result of bad bets or a Microsoft sell-off gone wrong. Instead, it reflects Gates' plan to empty his pockets long before the undertaker knocks. In a May blog post, he vowed that no obituary would say he 'died rich,' and he gave his foundation a deadline of 31 December 2045 to distribute almost everything he owns. Bloomberg simply caught up with how aggressively those transfers have already begun. So while headlines shout 'loss,' Gates sees progress toward a promise that reshapes both the billionaire rankings and the future cash flow of the world's largest private charity. Bill Gates' net worth drops $51 billion Between 3 July and 10 July, Gates' listed wealth slid from $175 billion to $124 billion, a 29 percent haircut. Most of the shift comes from updated accounting of shares he has already earmarked—or outright transferred—to the Bill & Melinda Gates Foundation and related philanthropic vehicles. Because he still holds about 3.5 percent of Microsoft through personal and family trusts, day-to-day market moves matter, but the big swing this month is bookkeeping catching up with his give-away schedule. Date Bloomberg estimate Change vs. prior year Jan 2022 $128 B — Jul 2023 $155 B 0.21 Jan 2024 $117 B −25 % 3 Jul 2025 $175 B 0.49 10 Jul 2025 $124 B −29 % (Rounded figures; source – Bloomberg Billionaires Index) Bill Gates' pledge to give away 99 % of his wealth by 2045 In a May 8 essay, Gates wrote, 'There are too many urgent problems to solve for me to hold on to resources that could be used to help people.' He set a 20-year window to donate at least 99 percent of his remaining assets and to wind down the foundation by 2045. The commitment formalises what observers have called 'the long goodbye' to his billionaire status—only now the timeline is public and the pace is accelerating. Tired of too many ads? go ad free now Philanthropy in action: where the money is going Global health : The foundation funds vaccine programs for preventable killers like polio and rotavirus, efforts Gates says have already saved 'tens of millions of lives.' : The foundation funds vaccine programs for preventable killers like polio and rotavirus, efforts Gates says have already saved 'tens of millions of lives.' Agricultural resilience : Grants flow to drought-resistant seed research for sub-Saharan Africa. : Grants flow to drought-resistant seed research for sub-Saharan Africa. Climate adaptation: Recent pledges back low-cost solar and methane-reduction projects. Since 2000, the organisation has granted more than $100 billion and still holds an endowment of $77 billion, even after the latest transfers. Market moves, donations and the billionaire rankings Gates' slide pushed him below former Microsoft CEO Steve Ballmer, now worth about $173 billion and sitting in fifth place. Amazon's Jeff Bezos and Tesla's Elon Musk still dominate the top slots. Analysts note the rankings may yo-yo as Gates continues to vest shares or as Microsoft's price wiggles, but the directional trend is clear: philanthropy is winning the tug-of-war with personal net worth. Why Gates says he won't die rich The 69-year-old argues that capital stuck in a brokerage account is 'opportunity cost incarnate.' He points to stalled humanitarian progress—especially cuts in Western foreign-aid budgets—and insists private capital must fill the gap. Critics worry about outsized influence from one donor, yet even they acknowledge his cash is now the lifeblood of several global-health campaigns once bankrolled by governments. Potential ripple effects for tech and philanthropy Signal to other moguls: When one of the most famous billionaires accelerates giving, peer pressure follows. Watch for fresh commitments from the likes of Larry Page or Michael Dell. When one of the most famous billionaires accelerates giving, peer pressure follows. Watch for fresh commitments from the likes of Larry Page or Michael Dell. Foundation sunset clause: By setting a close date, Gates challenges the idea of philanthropic capital sitting in perpetuity; that could push regulators to rethink payout rules. By setting a close date, Gates challenges the idea of philanthropic capital sitting in perpetuity; that could push regulators to rethink payout rules. Microsoft shares supply: As more stock transfers to charity, the Gates Foundation will likely sell portions to fund grants, adding liquidity—but not enough volume to unnerve markets, analysts say. Related FAQs 1. How much is Bill Gates worth after the $51 billion drop? Bloomberg now pegs him at about $124 billion, ranking twelfth in the world. 2. Did Microsoft's stock crash cause the decline? No. The sharp adjustment reflects wealth Gates has already shifted toward his foundation, not market volatility. 3. What is his timeline for giving away 99 % of his fortune? He plans to complete the donations and close the Gates Foundation by December 31, 2045. 4. How much has the Gates Foundation donated so far? Since 2000, the foundation has granted more than $100 billion to health, education and climate projects. 5. Could Gates fall out of the billionaire ranks entirely? Yes—if he sticks to the 99 % pledge, most of his current wealth will move to charities over the next two decades, potentially leaving him with 'just' hundreds of millions.
Time of India
2 days ago
- Politics
- Time of India
Devastating effects of these cuts are ...: Bill Gates alarms again on USAID funding that Elon Musk slammed him for
Microsoft co-founder Bill Gates has once again raised alarms about the "devastating effects" of USAID funding cuts. In a recent post on X, the tech billionaire asserted that it's not too late to reinstate the international aid that US President Donald Trump ordered to reduce. The latest warning comes after Tesla CEO Elon Musk recently criticised the tech billionaire regarding these very concerns about USAID funding cuts , which Gates has been warning about for some time now. In his latest post on X, Gates wrote: 'The devastating effects of these cuts are entirely preventable—and it's not too late to reverse them.' Gates was responding to a post quoting an unnamed aid worker in Africa who highlighted critical shortages in medical supplies — including missing shipments of HIV medication for children, expiring stock, a lack of oxygen tubes for newborns, and limited treatment for sexually transmitted diseases. Soon after sharing this post, Gates even shared a video of himself talking about how cutting the aid will affect the supply of vaccines that have reduced the number of child deaths. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Gates wrote: 'Thanks to vaccines, fewer children are dying from preventable diseases around the world. Cutting funding for them would reverse that progress and put millions of children in danger.' What Elon Musk said about Bill Gates' USAID cuts warning Earlier this month, Gates also criticised the USAID cuts by sharing a thread of facts that claimed that health aid cuts by the US government 'will cost lives.' This prompted a response from the world's richest person. When a X user replied to Gates' post, suggesting he should "make up for the difference" given his personal wealth, Musk agreed with "Exactly." Musk further commented, "The real reason Bill Gates is unhappy is that HIS organisation isn't getting billions in US taxpayer money anymore.' All this comes after US President Donald Trump's administration had placed staff members at the US Agency for International Development (USAID) on administrative leave in February, with the independent agency's last day being June 30. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
2 days ago
- Business
- Economic Times
Bill Gates Net Worth Fall: How did Microsoft co-founder lost 51 billion dollars? Here's his new global billionaire ranking and unique pledge
TOI-Online Bill Gates Net Worth Fall: Microsoft co-founder loses 51 billion dollars. See his new global billionaire ranking. Bill Gates, co-founder of Microsoft, has seen his net worth fall by $51 billion in a few days. This change is due to his ongoing philanthropic activities. Gates has pledged to give away nearly all his fortune by Gates' net worth dropped from $175 billion to $124 billion between July 3 and Thursday, according to Bloomberg Billionaire Index. The decline was recorded over just a few days. Bloomberg also updated Gates' appreciation rates to reflect his recent charitable giving. As of Saturday, Gates' estimated fortune had dropped again to $123 billion. This new figure placed him 12th on the global billionaire rankings. Also Read: Bachelor in Paradise Season 10: ABC and Hulu release schedule, how to watch for free Gates is now ranked lower than his former Microsoft colleague, Steve Ballmer. Ballmer owns the Los Angeles Clippers and is currently worth $173 billion. He holds the fifth spot in the global list. Elon Musk remains at the top of the billionaire index. The Tesla and SpaceX founder has a net worth of $360 billion, according to has committed to giving away 99% of his wealth within 20 years. He plans to close the Bill and Melinda Gates Foundation by December 31, 2045. In a blog post dated May 8, Gates stated that he does not want to be remembered as someone, who died wrote that there are too many urgent problems in the world. He believes that resources should be used to help people, not hoarded. Also Read: Big Brother Season 27: Release date, time, schedule, prize money, new houseguests, theme and where to watch Gates was inspired by the effects of his foundation's efforts in distributing vaccines in developing countries. The vaccines target diseases like diarrhea and pneumonia, which still cause many he also acknowledged that global progress in humanitarian aid has slowed. Gates noted reduced foreign aid from the US and Europe, especially due to conflicts in Ukraine and Gates Foundation was established in 2000 by Bill Gates and his former wife, Melinda. Since its creation, the foundation has donated over $100 billion. It is one of the largest philanthropic organizations in the world. The foundation aims to continue its work long after the deaths of its founders. Gates has not changed his position on his donations, even with his falling net worth. Why did Bill Gates lose 51 billion dollars? Bill Gates lost 51 billion dollars because he increased his charitable giving as part of his plan to donate 99% of his wealth by 2045. What is the Gates Foundation's donation total so far? The Gates Foundation has donated over 100 billion dollars since it was founded in the year 2000 by Bill and Melinda Gates.
Time of India
2 days ago
- Business
- Time of India
Bill Gates Net Worth Fall: How did Microsoft co-founder lost 51 billion dollars? Here's his new global billionaire ranking and unique pledge
Bill Gates , co-founder of Microsoft, has seen his net worth fall by $51 billion in a few days. This change is due to his ongoing philanthropic activities. Gates has pledged to give away nearly all his fortune by 2045. Bill Gates Net Worth Fall: Why is He Losing Money? Bill Gates' net worth dropped from $175 billion to $124 billion between July 3 and Thursday, according to Bloomberg Billionaire Index . The decline was recorded over just a few days. Bloomberg also updated Gates' appreciation rates to reflect his recent charitable giving. As of Saturday, Gates' estimated fortune had dropped again to $123 billion. This new figure placed him 12th on the global billionaire rankings. Also Read: Bachelor in Paradise Season 10: ABC and Hulu release schedule, how to watch for free Who Holds Top Spot in Global Billionaire Rankings? Gates is now ranked lower than his former Microsoft colleague, Steve Ballmer. Ballmer owns the Los Angeles Clippers and is currently worth $173 billion. He holds the fifth spot in the global list. Live Events Elon Musk remains at the top of the billionaire index. The Tesla and SpaceX founder has a net worth of $360 billion, according to Bloomberg. Bill Gates Unique Pledge Gates has committed to giving away 99% of his wealth within 20 years. He plans to close the Bill and Melinda Gates Foundation by December 31, 2045. In a blog post dated May 8, Gates stated that he does not want to be remembered as someone, who died rich. He wrote that there are too many urgent problems in the world. He believes that resources should be used to help people, not hoarded. Also Read: Big Brother Season 27: Release date, time, schedule, prize money, new houseguests, theme and where to watch Why is Bill Gates Donating Money? Gates was inspired by the effects of his foundation's efforts in distributing vaccines in developing countries. The vaccines target diseases like diarrhea and pneumonia, which still cause many deaths. However, he also acknowledged that global progress in humanitarian aid has slowed. Gates noted reduced foreign aid from the US and Europe, especially due to conflicts in Ukraine and Israel. Gates Foundation Background The Gates Foundation was established in 2000 by Bill Gates and his former wife, Melinda. Since its creation, the foundation has donated over $100 billion. It is one of the largest philanthropic organizations in the world. The foundation aims to continue its work long after the deaths of its founders. Gates has not changed his position on his donations , even with his falling net worth. FAQs Why did Bill Gates lose 51 billion dollars ? Bill Gates lost 51 billion dollars because he increased his charitable giving as part of his plan to donate 99% of his wealth by 2045. What is the Gates Foundation's donation total so far? The Gates Foundation has donated over 100 billion dollars since it was founded in the year 2000 by Bill and Melinda Gates.
New York Post
2 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.
