Bill Gates pledges to leave the list of the world's rich man

Bill Gates has promised to replenish his wealth, saying that he will eventually "drop" it from the world's rich list.

This comes after the Microsoft co-founder announced that he would donate $20bn (£17bn) to his philanthropic fund.

The fourth richest man in the world said that it is his duty to return his resources to the society.

Bill Gates first promised to donate his wealth in 2010, but now his net worth has more than doubled since then.

According to Forbes magazine, he is currently worth $118bn.

but will drop significantly after donating to the Bill & Melinda Gates Foundation in July,

In a Twitter thread, Bill Gates said the foundation will increase its spending from $6bn per year to $9bn by 2026 due to "global shocks" including the recent pandemic, Ukraine and the climate crisis.

Bill Gates held the title of the world's richest person by Forbes between 1995 and 2010 and again from 2013 to 2017.

Amazon founder Jeff Bezos ousted Tesla chief executive Elon Musk from the top spot in 2017 before taking the election position in 2022.