Bill Gates, once the world’s richest person, has now dropped out of the top 10 richest individuals for the first time in years. According to the latest Bloomberg Billionaires Index, Gates now ranks 12th with a net worth of $124 billion as of 8 July 2025. This marks a significant shift in the wealth rankings, where Gates now trails Michael Dell at number 11 with $137 billion, and his former Microsoft colleague, Steve Ballmer, is ahead at number 5 with $172 billion.

Gates's drop is not due to poor investment performance but is tied to his philanthropic work. The Bloomberg recalculation reflects his ongoing commitment to charity. To date, Gates and his former wife, Melinda, have donated over $60 billion to the Gates Foundation. Additionally, the foundation has pledged to spend $200 billion by 2045 to continue its mission of global health and development before shutting down operations.

The New Richest: Elon Musk Leads the List

Despite Gates's drop, his philanthropic efforts have solidified his place as one of the most influential figures in global charity. At the top of the wealth rankings is Elon Musk with a net worth of $346 billion, followed by Mark Zuckerberg ($253 billion) and Larry Ellison ($248 billion). Other notable names in the top 10 include Jeff Bezos ($244 billion), Steve Ballmer ($172 billion), and the Google co-founders Larry Page ($160 billion) and Sergey Brin ($150 billion). Although Gates’s position has shifted, his commitment to global change continues to make him one of the most impactful figures in the world today.