The reason behind Bill Gates’ net worth fall by $35 billion this year revealed

The Microsoft co-founder was the richest man in the world for the best part of two decades but his fortunes are declining. Here’s why.

The Microsoft co-founder was the richest man in the world for the best part of two decades but his fortunes are declining. Here’s why.
Mike Segar
Update:

Between 1997 and 2017, Bill Gates was the richest man on the planet at total of 16 occasions. His net worth peaked in 2021 when his personal fortunes rose to $147.1 billion, but today, the 69-year-old Microsoft co-founder is worth $117.4 billion, ranked 13th in Forbes global billionaires list.

Bill Gates diversifies his investments

He’s still an extremely wealthy man with a diverse stock portfolio in other areas outside of tech through Cascade Investment. Holdings include Canadian National Railway, Ecolab, Waste Management Inc. He also has minority stakes in Walmart, McDonalds, Madison Square Garden Sports Corp. Kraft Heinz Co. as well as other key investments in the agricultural sector.

On top of that, through Cascade, he owns around 269,000 acres of US farmland - more than anyone else in America. And along similar lines is Gates Agricultural Innovations (Gates Ag One), a subsidiary of the Gates Foundation, which aims to support smallholder farmers and “accelerate agricultural innovations” in sub-Saharan Africa and South Asia.

Gates vows to give his wealth away

This year, Gates’ net worth has fallen by $35 billion -a trend that set to continue. In May, he announced that he would be giving his fortune away gradually, over the next two decades. He has pledged to donate 99% of his remaining fortune to his charitable foundation, bringing forward its planned closure to December 31, 2045.

Gates is optimistic about the foundation’s mission to address critical health issues and reduce childhood mortality, as international aid budgets used to prevent deadly disease and famine have been subjected to cuts.

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