WATCH: Bill Gates vows to drop off list of world's richest people

According to 'Forbes,' Gates is currently worth $118 billion.

On July 13, the world's fourth-richest man announced he'd be donating $20 billion to his Bill & Melinda Gates Foundation.

Referencing the pandemic, war in Ukraine and other global challenges, Gates said, "The great crises of our time require all of us to do more".

Gates' donation, in addition to a grant of $3.1 billion provided by Warren Buffett last month, brings the organization's endowment to about $70 billion.

Gates' donation, in addition to a grant of $3.1 billion provided by Warren Buffett last month.

BBC reports that in 2010, Gates also pledged to give his money away, but his net worth has more than doubled to date.