Bill Gates, who was once the richest man in the world for 18 consecutive years, has lost 51 billion dollars in the last few days. Gates, the co-founder of Microsoft, increased his philanthropic activities, and his fortune fell sharply.

According to Bloomberg's billionaire list, his wealth has decreased by $51 billion to $124 billion. As the co-founder of Microsoft, his net worth was $175 billion as of July 3. With a heavy decline, he has now reached the 12th position of billionaires.

According to Bloomberg, as of Tuesday, Gates' wealth has further decreased to $117 billion. Bill Gates, once the richest man in the world, has now been surpassed by his former colleague Steve Ballmer of Microsoft. Los Angeles Clippers owner Ballmer is now the fifth richest person in the world with $173 billion. Topping the list is Tesla and SpaceX founder Elon Musk. His wealth is 360 billion dollars . 

After Gates announced that he would donate 99 percent of his wealth over the next two decades, his wealth began to decline. He has been repeating his commitment to 'not die rich'. By December 31, 2045, he has announced that he will donate 99 percent of his wealth before closing the Gates Foundation, which he founded with his ex-wife Melinda. He wrote in a May 8 blog post, "People will say a lot about me after I die, but I don't want them to say that he died rich."

Gates has said that he has decided to donate his wealth after seeing the impact of distributing vaccines for easily treatable diseases such as diarrhea and pneumonia through his foundation in developing countries. Bill Gates says that due to the ongoing conflict in Ukraine and Israel, cutting aid to other areas by the US and European countries has hindered the progress of charitable and humanitarian work worldwide. In such a situation, he said that he decided not to spend resources on social service.