Microsoft founder Bill Gates has fallen out of the top ten list of America’s wealthiest individuals, a significant shift linked primarily to his 2021 divorce from Melinda French Gates.
Bill Gates, the iconic founder of Microsoft, has experienced a notable decline in his status among the wealthiest individuals in America. His ranking has plummeted to No. 9 on the 2023 list of America’s wealthiest, a drop from his previous rank of No. 6. For almost two decades, beginning in 1990, Gates consistently appeared as either the richest or the second-richest person on these prestigious lists.
The primary reason for this shift in Gates’ wealth standing is his highly publicized divorce from Melinda French Gates in 2021. The divorce settlement, which turned out to be nearly triple what was initially projected, served as a significant blow to his net worth. Melinda French Gates has now emerged as one of the richest women in the United States following the division of their assets.
The divorce settlement has notably increased Melinda French Gates’ financial standing, with her current net worth soaring to around $29 billion from $10.3 billion just a year ago. This ascent makes her the ninth-richest woman in the country.
As Bill Gates’ net worth has taken a hit, he remains devoted to his philanthropic missions. The Bill & Melinda Gates Foundation continues to target global health and development, although questions persist about the foundation’s future trajectory in the absence of Melinda’s leadership.
Gates has openly stated in media interviews that a decline in his wealth ranking was inevitable. He also mentioned there’s a possibility that he and Melinda may not continue working together on philanthropic initiatives, yet he reaffirmed that the Gates Foundation plans to operate for another 25 years.
Meanwhile, Melinda French Gates has launched her own philanthropic venture, Pivotal Ventures, focusing on empowering women and families.
According to The Times of India, Gates’ wealth and philanthropic strategies continue to capture global attention, highlighting ongoing discussions about wealth, partnerships, and the future of their foundation.
Source: Original article