Here's your Forbes Daily Briefing Bonus Story of the Week.

Today on Forbes, why Bill Gates no longer ranks among America's 10 richest people.

Bill Gates was long known as the richest person in America.

Starting in 1991, he ranked either first or second on the Forbes 400 list of the country's

wealthiest people every year for nearly three decades.

He fell below the number two spot in 2021.

Now, for the first time in 34 years, Gates is not even in the top 10.

He ranks number 14 on this year's Forbes 400, just behind Bloomberg LP co-founder,

Mike Bloomberg, and one spot ahead of the countries and the world's richest woman,

Walmart heiress, Alice Walton. Of course, Gates still commands a massive fortune. Forbes estimates

he's worth $107 billion, the same as a year ago.

As other billionaires on the list get richer, Gates is determined to get poorer.

In May, he announced that he plans to give away 99% of his remaining fortune to his

charitable Gates Foundation over the next two decades.

The foundation will shut its doors in

2045. The year Gates will turn 90. To part with 99% of his wealth, Gates plans to donate,

quote, billions a year to his foundation. In May, he told Forbes, quote, it won't be equal amounts

every year because it'll somewhat depend on what's going on with the markets.

My will is very clear that when I die, all that money goes into the foundation,

and they would have to figure out what they do with assets.

Forbes estimates that he's donated $7 billion to the Gates Foundation since last year's Forbes

400.

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