Bill Gates, the co-creator of Microsoft, has, for the first time since the 1990s, fallen out of the top ten on Forbes’ ranking of the richest individuals in the United States.
For nearly two decades, Gates held a position among the wealthiest Americans, often occupying one of the top two spots since 1990. However, his rank has dropped from No. 6 to No. 9 in the 2023 rankings, an unforeseen development.
At present, Gates has a net worth of $107 billion, which is a reduction of $4 billion over the last year, even though there were significant increases of 30% in both the S&P 500 and the Nasdaq 100.
In a notable occurrence, an American tycoon has now reached the No. 12 position on the worldwide billionaire list, marking Gates’ first departure from the top ten since 1991. He now trails behind prominent figures such as Elon Musk, Larry Ellison, and Jeff Bezos. Musk remains in first place, with Ellison in second and Bezos in third. Mark Zuckerberg ranks fourth, while Bernard Arnault and his family occupy fifth place. Warren Buffett is listed sixth, Larry Page seventh, and Amancio Ortega eighth.
Factors Contributing to Bill Gates’ Wealth Decrease
The drop in Gates’ fortune can be partially linked to his divorce from Melinda French Gates after 27 years of marriage. Following their separation, Melinda decided to resign as co-chair of the Bill & Melinda Gates Foundation, intending to secure an additional $12.5 billion for her own charitable projects. This sum is being provided directly by Gates to Melinda and is separate from the foundation’s assets.
The estimated divorce settlement has nearly tripled, indicating a transformation in Bill Gates’ financial situation. He has suggested that his ranking may continue to slip and hinted at a possible conclusion to his partnership with Melinda. Nevertheless, he has ensured that the Gates Foundation is anticipated to persist in its operations for another 25 years.
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