Bill Gates Drops Out of World's Top 10 Billionaires' List Amid Skit With MI, Broda Shaggi, Others

• Bill Gates has dropped to 12th place on the Bloomberg Billionaires Index after a $51 billion reduction in his net worth
• The change reflects Gates' long-standing commitment to giving away most of his fortune and winding down his foundation by 2045
• In a related effort to raise awareness on development issues in Africa, Gates appeared in a comedy skit with Nigerian creators

Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology, Banking and the Economy.

Bill Gates is no longer among the top 10 wealthiest individuals globally, following a recent reassessment that reduced his net worth by a staggering $51 billion within days.

On July 3, the Bloomberg Billionaires Index revised its methodology for calculating Gates’ wealth.

The updated approach takes into account his extensive philanthropic efforts and newly shared personal financial details published on his blog, Gates Notes.

As a result of this recalculation, Gates’ estimated fortune dropped from $175 billion to $124 billion, placing him 12th on the list.

This shift saw him fall behind other tech figures, including Michael Dell. Prior to this update, Gates held the fifth position, according to Fortune.

Former Microsoft CEO Steve Ballmer, who worked closely with Gates during his time at the company, has now surpassed him with an estimated net worth of $174 billion.

Gates has consistently emphasised his commitment to donating the majority of his wealth. This intention is increasingly being reflected in his financial standing.

He also recently revealed a change in the timeline for the Bill & Melinda Gates Foundation. Rather than continuing decades after the deaths of its founders, the organisation is now set to wind down by 2045.

Gates believes this accelerated timeline will allow the foundation to maximise its impact and provide greater clarity to its partners.

Now approaching his 70th birthday, Gates views this intensified phase of philanthropy as the concluding chapter of his professional life, expressing hope that he’ll witness the long-term effects of his giving during his lifetime.

Gates makes skit with Nigerian content creators

Meanwhile, Bill Gates recently appeared in a comedy skit alongside several popular Nigerian content creators.

The video, produced as an advocacy piece by the Gates Foundation, aims to raise awareness about key development issues affecting Africa.

It features Nigerian rapper M.I. Abaga, along with well-known comedians and skit makers Broda Shaggi and Layi Wasabi.

Gates’ unexpected appearance in the Nigerian social media skit, given his status as a tech billionaire and former world’s richest man, has sparked widespread discussion and curiosity online.

Gates recently announced a $2 billion investment to boost Nigeria’s healthcare, nutrition, and agricultural sectors.

President Tinubu Gives National Award to Bill Gates

President Bola Tinubu has awarded Bill Gates the Nigerian national honour of Commander of the Federal Republic (CFR).

He said the award recognises Gates’ long-standing efforts to improve lives in Nigeria and across Africa, especially through his work in health care, fighting polio, supporting farming, promoting digital tools, and improving education.

According to President Tinubu, Gates’ work through the Gates Foundation has helped save millions of lives and made a big difference in many communities, encouraging others around the world to take action.

Source: Legit.ng