Bill Gates Worth Less Than Ex-Assistant After $50B Recalculation – Business Insider
Bill Gates, once the world’s richest man for nearly two decades, is no longer even in the top 10. Why? Because he’s giving away most of his fortune.
Gates recently saw his net worth drop by a whopping $51 billion—but it wasn’t because of a bad investment or market crash. It’s all part of his plan to not die rich. After this big drop, he now ranks 12th on the Bloomberg Billionaires Index, just behind Dell founder Michael Dell.
Meanwhile, Steve Ballmer, Gates’ former assistant and Microsoft’s ex-CEO, has now taken the 5th spot, with an estimated net worth of $172 billion.
Why Did Gates Lose So Much Wealth?
On July 3, Gates was worth about $175 billion. But in just a few days, his net worth dropped to $124 billion. Bloomberg adjusted the numbers to reflect Gates’ long-standing philanthropic commitments. A blog post Gates published in May revealed that he plans to donate nearly all of his wealth to the Bill & Melinda Gates Foundation, which will shut down by 2045.
“People will say a lot of things about me when I die,” Gates wrote. “But I am determined that ‘he died rich’ will not be one of them.”
This mission isn’t new for Gates. He’s been gradually giving away his fortune for years and has even said that his kids will inherit less than 1% of it.
Who Is Steve Ballmer—and How Did He Get So Rich?
Steve Ballmer wasn’t just any Microsoft employee—he was one of the first. In 1980, he dropped out of Stanford’s MBA program to become Gates’ assistant, joining as Microsoft’s 30th employee.
At first, Ballmer earned a $50,000 salary and a unique deal: 10% of Microsoft’s profit growth. That was soon renegotiated to an 8% stake in the company. Gates even paid part of Ballmer’s stake out of his own pocket, despite cofounder Paul Allen’s objections.
Ballmer went on to become Microsoft’s CEO from 2000 to 2014, and when he stepped down, he owned 333 million shares—worth about $22.5 billion at the time. Today, most of his wealth still comes from those Microsoft shares.
But Ballmer credits his success to luck, not just skill. He told the Wall Street Journal:
“If there’s anybody that will tell you all their success is because they were a genius… they should go look for the luck.”
Beyond Tech: Ballmer the Sports Owner and Philanthropist
After retiring from Microsoft, Ballmer bought the Los Angeles Clippers NBA team in 2014 for $2 billion. That investment paid off—today, the team is worth around $5.5 billion.
Ballmer also shares Gates’ passion for giving back. He’s donated over $4 billion through the Ballmer Group, a nonprofit that works to boost economic opportunities for families in the U.S.
In Summary
Bill Gates lost $51 billion from his net worth due to charity donations.
He’s now 12th richest, while Steve Ballmer is 5th.
Ballmer joined Microsoft early, made smart moves, and stayed loyal.
Both men are billionaires—but deeply committed to philanthropy.
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