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Microsoft founder Bill Gates dropped to third place for the first time in the seven-year history of the billionaire index, Bloomberg reported referring to the Bloomberg Billionaires Index (BBI).

That run ended Tuesday when the Microsoft Corp. co-founder dropped to No. 3 behind France’s Bernard Arnault.

Last month, Arnault’s fortune exceeded $ 100 billion for the first time, and he entered the top three rankings, joining Gates and Amazon’s founder Jeff Bezos, the richest person in the world. The collective wealth of the top three exceeds the individual market value of almost every company in the S & P 500 index, including Walmart, Exxon Mobil, and Walt Disney, the agency said.

According to the agency, Bill Gates would have remained the richest man in the world, if not for charitable activities as he donated over $ 35 billion to the Bill and Melinda Gates Foundation.

The net asset value of Bezos this year rose to 125 billion dollars, even after reaching a divorce agreement with MacKenzie Bezos, thanks to which she became the fourth in the list of the richest women in the world.

Total BBI ranking includes the 500 richest people in the world.

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