Former assistant to Bill Gates, Steve Ballmer has experienced a tremendous rise in the world of wealth, currently ranking fifth in the Bloomberg Billionaires Index. This remarkable climb puts him ahead of tech titans like Mark Zuckerberg, Larry Ellison, Warren Buffett and others. He may even overtake his former boss Bill Gates, who is ranked fourth on the list. here are the details.
According to a report by Business Insider, Steve Ballmer’s estimated net worth is now $115 billion, which is more than Larry Ellison’s $114 billion, Warren Buffett’s $111 billion, and Mark Zuckerberg’s $108 billion. It is noteworthy that Bill Gates remains ahead with assets worth $121 billion.
Steve Ballmer’s incredible wealth can be traced back to a smart move he made when he started working as an assistant at Microsoft in 1980. Despite his starting salary being only $50,000, he also received 10 percent of the profits he helped make. As Microsoft grew, his share of the profits increased and he decided to trade it for a significant ownership stake in the company.
Over the years, Ballmer worked his way up the ladder at Microsoft and eventually became the company’s CEO from 2000 to 2014. When he retired, he owned a significant stake in the company with 333 million shares, equivalent to 4 percent of Microsoft’s. Even today, he holds the majority of these shares, contributing to his net worth, which is now over $100 billion. Additionally, Ballmer likely earned billions in dividends during his tenure at Microsoft.
A major reason for Ballmer’s growing wealth is the remarkable success of Microsoft’s stock, which is partly due to the rise of artificial intelligence. With the goal of challenging Google in Internet search, Microsoft made strategic investments in companies such as OpenAI, the creator of ChatGPT. These investments have significantly boosted Microsoft’s stock performance. This year alone, Microsoft shares have risen a whopping 38 percent, solidifying Ballmer’s position as one of the world’s wealthiest men.
As Steve Ballmer continues to rise among the world’s richest men, his transformation from Bill Gates’ assistant to a wealthy man reflects the significant influence of good investing, business expertise requirements, and the ever-expanding tech industry in shaping personal fortunes.