Bill Gates Backs a Billionaire's Tax for the AI Era; Worth $121.3 Billion

Bill Gates, who is worth an estimated $121.3 billion according to Forbes' real-time billionaires data, believes a billionaire's tax is the only option in the age of artificial intelligence, Fortune reported.

What Fortune reported

According to Fortune, Gates sees a tax on billionaires as the only available path as AI reshapes the economy. The outlet reported that, in his view, "whatever's left over" after such a tax could be used as a philanthropic safety net. The report puts one of the world's wealthiest people on the side of higher taxes on fortunes like his own, and presents philanthropy as a supplement to taxation rather than a replacement for it.

Where his net worth stands

Gates ranks 17th on Forbes' list of the world's billionaires. His live net worth is down about $492 million on the day.

His fortune rests on Microsoft, the company he co-founded, and places him among the leading figures in the technology industry. Gates is based in the United States.

Why it matters

A billionaire's tax would apply directly to fortunes the size of Gates' own, so his reported support is closely tied to his personal wealth. Because his net worth is largely linked to Microsoft, changes in its value will continue to drive his place on the rankings, whatever happens with the tax debate.