Bill Gates is now the third richest man on earth after losing $838 million from his fortune

Bill Gates has lost more than $800 million from his fortune to become the third richest man of earth.

Gates, once the world's richest man and recently second richest man, dropped to $107 billion as of July 18, 2019, according to Bloomberg's Billionaire Index seen by Business Insider SSA.

He is now the third richest man coming right behind Jeff Bezos and Bernard Arnault, the chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, known as LVMH, the world's largest maker of luxury goods

Bernard Arnault, the chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, known as LVMH Reuters

Arnault, the French businessman, who was estimated to worth $80.8 billion in January, has gained more than $39.1 billion to $108 billion in the last one year, according to the Bloomberg's real-time Billionaires' list.

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Bill Gates still worth more $100 billion

Although Bill Gates' Microsoft shares have recorded gains, his fortune now lies outside teh tech giant firm, Microsoft.

Since 2018 till date, his wealth has increased by $16.1 billion.

Bill Gates and his wife, Melinda Elaine Thompson / AP Images

Bill Gates and his wife, Melinda run Bill and Melinda Gates Foundation, the world's largest private charitable foundation.

The foundation has saved lives and contributed to global issues and causes. Within recent years, Gates has sold or given away much of his stake in Microsoft and partly owns over 1% of shares in the tech company he established in 1975.

He has donated more than $35 billion worth of Microsoft to the Gates Foundation.