{"id":5658,"date":"2025-07-08T15:32:48","date_gmt":"2025-07-08T15:32:48","guid":{"rendered":"https:\/\/friscotimes.org\/?p=5658"},"modified":"2025-08-19T05:14:03","modified_gmt":"2025-08-19T05:14:03","slug":"bill-gates-gave-so-much-money-away-that-51-billion-just-got-swiped-from-his-net-worth-now-his-former-no2-and-microsoft-successor-steve-ballmer-is-wealthier-than-he-is","status":"publish","type":"post","link":"https:\/\/friscotimes.org\/?p=5658","title":{"rendered":"Bill Gates gave so much money away that $51 billion just got swiped from his net worth\u2014now his former no2\u00a0and\u00a0Microsoft\u00a0successor Steve Ballmer\u00a0is wealthier than he is"},"content":{"rendered":"\n

Bill Gates was once the richest man in the world for 18 years, and currently boasts a jealousy-inducing net worth of $124 billion from cofounding the software titan Microsoft. But now his former right-hand man has more money in his bank account than he does, thanks to Gates\u2019 billion-dollar philanthropic spending.\u00a0<\/p>\n

\n

On July 3 last week, Gates was standing on a fortune of $175 billion, ranked as the fifth-wealthiest person alive on the Bloomberg Billionaire Index<\/a>. But his wealth plummeted over the span of the next couple of days as $51 billion was drained from his net worth, shooting him down the list to 12th place right below fellow tech pioneer Michael Dell.<\/p>\n

Gates\u2019 wealth disappeared so rapidly as the index readjusted for the 69-year-old technology mogul\u2019s philanthropic efforts. Bloomberg noted that the appreciation rates were lowered last week to \u201cbetter reflect Gates\u2019 outside charitable giving and the wealth estimate,\u201d based on a May 8 blog post from<\/a> the former Microsoft CEO. The note disclosed that Gates would be donating his vast fortune to charity much faster than previously planned; Over the next 20 years, he would donate almost all of his wealth to the Gates Foundation that he spearheaded with ex-wife Melinda French Gates, which will close by the end of 2045.<\/p>\n

\u201cPeople will say a lot of things about me when I die, but I am determined that \u2018he died rich\u2019 will not be one of them,\u201d Gates wrote.<\/a> \u201cThere are too many urgent problems to solve for me to hold onto resources that could be used to help people.\u201d<\/p>\n

Gates has been determined to whittle down his wealth for the greater good for years, even saying that his children would inherit \u201cless than 1%\u201d of his fortune. And now, his goal is being reflected in his net worth. His charitable giving even cleared the way for his former No. 2 from the Microsoft days, Steve Ballmer, to take his spot in fifth with $172 billion to his name\u2014and it\u2019s not the first time it\u2019s happened.<\/p>\n

\n<\/figure>\n

Fortune <\/em>reached out to Gates for comment.\u00a0<\/p>\n

Who is Steve Ballmer\u2014and why is he richer than Gates?<\/h2>\n

Most employees never expect to earn more than their bosses. But Ballmer got his foot in the door at a lucky time, and for decades since, money has been percolating into his bank account.<\/p>\n

Microsoft was in its early days when Ballmer joined as an assistant to the president in 1980\u2014he was the 30th employee to join the growing technology company and effectively functioned as a business manager. He had dropped out of Stanford\u2019s MBA program to take the job, and was offered a $50,000 base salary alongside 10% of any profit growth he generated at the business. Ballmer didn\u2019t get a single share at the time, but the 10% cut proved to be extremely lucrative.<\/p>\n

But soon the business was growing so quickly that the portion wasn\u2019t financially feasible, so in renegotiations, Ballmer traded his profit-sharing deal for an 8% stake in the company. The company\u2019s cofounder Paul Allen wasn\u2019t thrilled with the trade-off, arguing it was still too large of a share for Ballmer. But Gates put his own money on the line to fulfil Ballmer\u2019s request\u2014and the rest is history.<\/p>\n

The former assistant to Gates eventually rose up the ranks and took his boss\u2019s role, serving as CEO of the company from 2000 to 2014. He held 333 million shares in Microsoft, or around a 4% stake worth $22.5 billion, when he stepped down as chief executive. Today, most of the 69-year-old\u2019s investment portfolio is still wrapped up in the business\u2019s stock\u2014but he attributes his vast wealth to being in the right place, at the right time and not cashing in too early.<\/p>\n

\u201cIf there\u2019s anybody that will tell you all their success is because they were a genius, I\u2019d say they should go look for the luck,\u201d he told the<\/a> Wall Street Journal <\/em>last year. \u201cForget the stock price. I had luck, essentially, in getting to listen to the right people. But I also had luck in terms of my loyalty to the company and not wanting to be a seller as a leader of the business.\u201d<\/p>\n

Ballmer has since ventured into other arenas outside of tech. The baby boomer bought the Los Angeles Clippers for $2 billion the same year he retired from Microsoft, and the team is now valued at<\/a> $5.5 billion.\u00a0<\/p>\n

Following in Gates\u2019 footsteps, he also has a soft spot for charity; he\u2019s donated more than $4 billion of his fortune so far, and founded philanthropic organization Ballmer Group<\/a> focused on improving economic mobility for families in the United States.\n<\/p>\n<\/div>\n

Introducing the 2025 Fortune Global 500<\/strong>, the definitive ranking of the biggest companies in the world. Explore this year’s list.<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Bill Gates was once the richest man in the world for 18 years, and currently boasts a jealousy-inducing net worth of $124 billion from cofounding the software titan Microsoft. 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