Tech giant and co-founder of Microsoft, Bill Gates, has experienced a significant drop in his ranking on the Forbes 400 list, plummeting to the ninth spot – his lowest position in almost a quarter of a century. While Gates still boasts a colossal fortune of $107 billion, his net worth has decreased by $4 billion since last year, even as U.S. stock markets soared. This marks the first time since 1991 that Gates has not been included among the top ten wealthiest individuals globally.
The primary factor behind Gates’ decline is his 2021 divorce from Melinda French Gates. Forbes has significantly increased its estimate of the divorce settlement awarded to French Gates, raising her net worth to an impressive $29 billion – a substantial jump from $10.3 billion last year. Furthermore, French Gates has received an additional $12.5 billion for her philanthropic endeavors, a direct contribution from Bill Gates rather than a transfer from the Gates Foundation. This remarkable sum has elevated French Gates to the position of the ninth-richest woman in the United States.
During the Forbes 400 Summit on Philanthropy in September 2022, Gates acknowledged his anticipated decline on the Forbes ranking, expressing his commitment to continue donating a significant portion of his wealth until he ultimately falls off the billionaires list.
The drop in Gates’ ranking on the Forbes 400 list reflects his ongoing commitment to philanthropic causes. His decision to donate a substantial portion of his wealth, coupled with the financial ramifications of his divorce, has resulted in a noticeable shift in his financial standing. However, despite this change, Gates remains a prominent figure in the tech industry, and his philanthropic endeavors continue to have a significant impact worldwide.
