Steve Ballmer, Bill Gates’ former assistant, has made an astonishing climb in wealth, currently ranking fifth on the Bloomberg Billionaires Index. This remarkable ascent positions him ahead of tech giants like Mark Zuckerberg, Larry Ellison, Warren Buffett, and more, and he might even surpass his former boss, Bill Gates, who holds the fourth position.
Steve Ballmer’s estimated fortune now stands at an astounding $117 billion, surpassing Larry Ellison’s $116 billion, Warren Buffett’s $114 billion, and Mark Zuckerberg’s $109 billion, as reported by Business Insider. It’s important to mention that Bill Gates still maintains the lead with a wealth of $123 billion.
Ballmer’s incredible wealth can be traced back to a shrewd decision he made when he joined Microsoft in 1980. Despite his initial salary of just $50,000, he received 10 percent of the profits he helped generate. As Microsoft grew, his share of the profits swelled, and he chose to exchange it for a significant ownership stake in the company.
Over the years, Ballmer climbed the ranks at Microsoft and served as the Company’s CEO from 2000 to 2014. Upon retiring, he retained a substantial portion of the company, with 333 million shares, equivalent to 4 percent of Microsoft. Today, he still holds most of these shares, contributing to his net worth, which now exceeds $100 billion. Additionally, Ballmer likely earned billions in dividends during his tenure at Microsoft.
A key driver of Ballmer’s growing wealth is the outstanding success of Microsoft’s stock, partly attributable to advancements in artificial intelligence. Microsoft strategically invested in companies like OpenAI, the creator of ChatGPT, to compete with Google in internet search, significantly boosting Microsoft’s stock performance. In just this year, Microsoft’s shares have surged by a substantial 38 percent, solidifying Ballmer’s status as one of the world’s richest individuals.
As Steve Ballmer continues to climb the ranks of the world’s wealthiest, his transformation from Bill Gates’ assistant to an affluent figure underscores the significant impact of prudent investments, the demands of business expertise, and the ever-expanding tech industry in shaping personal fortunes.
