Why Bill Gates is not the richest person in the world

Leigh Vogel | Getty Images

Bill and Melinda Gates are presented with the 2016 Presidential Medal Of Freedom by President Obama at White House on November 22, 2016 in Washington, DC.

Had Gates held onto the assets he’s given to the foundation, he’d be worth an estimated $150 billion today, according to Bloomberg, which would give him the record.

He’d rather put that money to good use.

“We have been blessed with good fortune beyond our wildest expectations, and we are profoundly grateful,” the Gateses wrote in their Giving Pledge letter. “But just as these gifts are great, so we feel a great responsibility to use them well.”

Bezos hasn’t yet made a “a major philanthropic mark,” as Bloomberg puts it, but some predict that’s in the cards for the billionaire. In June, Bezos put out a request for ideas on Twitter, where he said he was “thinking about a philanthropy strategy.” He followed up to say there’s more to come, but he hasn’t revealed what that will be.

Although Bezos hasn’t taken a deep dive into charitable giving just yet, he and his wife MacKenzie have made several sizable donations. He’s partnered with Mary’s Place, a local organization in Seattle to provide shelter for the homeless and gave $1 million of his personal funds.

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Video by Luqman Adeniyi.