Steve Ballmer Net Worth 2024

What is Steve Ballmer’s Net Worth and Salary?

Steve Ballmer is an American businessman and sports activities crew proprietor who has a net worth of $140 billion. The overwhelming majority of Steve Ballmer’s net worth is derived from his 333.3 million shares of Microsoft inventory. That is roughly 4% of the overall excellent shares and as we speak Steve is definitely the corporate’s largest particular person shareholder. Today Bill Gates owns roughly 1.3% of Microsoft.

When Microsoft went public in 1986, Steve Ballmer owned 8% of the corporate, Paul Allen 25% and Bill Gates 45%.

Starting in 2024 Microsoft can pay a dividend of $3 per share. That equates to an annual dividend cost of $1 billion for Mr. Ballmer. Over the years he has earned $13 billion by inventory gross sales and dividends.

Despite being a multi-multi-billionaire, Ballmer nonetheless drives a Ford in honor of his father who was a Ford supervisor.

Steve Ballmer met Bill Gates at Harvard University within the Seventies after they had been each undergraduate college students. Ballmer was a 12 months forward of Gates. They lived down the corridor from one another in the identical dormitory and shortly fashioned a friendship over their shared pursuits in arithmetic and computing. Ballmer was learning arithmetic and economics, whereas Gates was enrolled within the pre-law program however was extra concerned about pc programming.

Their paths diverged quickly when Gates dropped out of Harvard to co-found Microsoft with Paul Allen in 1975. Ballmer continued his research, graduating from Harvard after which working for Procter & Gamble and attending Stanford Graduate School of Business. However, their connection remained sturdy, and in 1980, Gates satisfied Ballmer to affix Microsoft. Ballmer turned the corporate’s thirtieth worker and the primary enterprise supervisor employed by Gates. This determination marked the start of Ballmer’s lengthy and influential profession at Microsoft, the place he would finally change into CEO in 2000, persevering with to work carefully with Gates till Gates stepped down from his day-to-day function in 2008. As CEO he earned a base wage of $1.35 million. In August 2013, Ballmer introduced that he could be retiring as CEO inside 12 months. On February 4, 2014, Ballmer was changed by Satya Nadella.

Ballmer can also be recognized for proudly owning the Los Angeles Clippers. He purchased the time in May 2014 for $2 billion from disgraced proprietor Donald Sterling who had just lately change into embroiled in a racism scandal. Today the Clippers are price $4 billion.

Early Life

Steven Anthony Ballmer was born on March twenty fourth of 1956 in Detroit, Michigan. His father, Frederic Henry Ballmer, served as supervisor for the Ford Motor Company. To honor his father, Ballmer reportedly nonetheless drives a Ford to today. Although he was initially raised within the prosperous neighborhood of Farmington Hills, Steve Ballmer lived in Brussels from 1964 to 1967 and attended the International School of Brussels.

After focusing closely on engineering and math at Lawrence Technical University and Detroit Country Day School, Ballmer attended Harvard University, graduating magna cum laude in 1977 with a Bachelor of Arts in utilized arithmetic and economics. During his college years, Ballmer managed the soccer crew and contributed to the college’s numerous newspapers. He additionally met fellow pupil Bill Gates.

Over the following interval, Ballmer labored as an assistant product supervisor for Procter & Gamble. Unsatisfied with the company life-style, Ballmer tried to have two screenplays produced in Hollywood. By 1980, he was attending the Stanford Graduate School of Business.

Career with Microsoft

In 1980, Bill Gates satisfied Ballmer to drop out of Stanford and change into Microsoft’s first-ever enterprise supervisor. Over the following twenty years, Gates and Ballmer established a robust reference to each other – each on a private {and professional} stage. He was in control of many Microsoft divisions, reminiscent of gross sales and the .NET framework.

In 2000, the steadiness of energy transitioned from Gates to Ballmer, and he turned the corporate’s new CEO. That being stated, Gates nonetheless served as chairman of the board and guided the general imaginative and prescient of Microsoft. Almost inevitably, real tensions started to come up between the pair for the primary time. Ballmer’s method to managing Microsoft has led to blended opinions. While it is true that he tripled gross sales and doubled income, the corporate’s share worth stagnated. In addition, many observers have argued that Ballmer missed out on large developments.

Of course, Ballmer did lead Microsoft into new territory, creating the Xbox division and serving to popularize Skype. Still, Ballmer didn’t capitalize on the smartphone pattern, famously dismissing Apple’s iPhone as a waste of time. He additionally misplaced billions in ill-advised acquisitions, reminiscent of Nokia, and failed merchandise such because the Surface. After being named the worst CEO by a number of publications, Steve Ballmer started to really feel the stress. In 2013, he lastly retired from Microsoft.

Steve Ballmer Net Worth Milestones

• 1986 (IPO Day) – $85 million
• 1987 – $270 million
• 1995 -$2 billion
• 1997 – $6 billion
• 1999 – $13 billion
• 2008 – $10 billion
• 2014 – $24 billion
• 2017 – $33 billion
• 2018 – $42 billion
• 2019 – $45 billion
• 2020 – $77 billion
• 2021 – $101 billion
• 2022 – $88 billion
• 2023 – $130 billion
• 2024 – $140 billion

Acquisition of the LA Clippers

Ballmer had ostensibly been concerned about shopping for a basketball crew since 2008, when he was a part of a gaggle that attempted (unsuccessfully) to accumulate the Seattle Sonics. In 2012, he additionally tried to purchase the Sacramento Kings. However, Ballmer would lastly get the chance he’d been ready for in 2014 when Clippers proprietor Donald Sterling was given a lifetime ban from the NBA following racist feedback.

Sterling’s spouse pushed to have the LA Clippers bought, and Ballmer stepped in with an offer of $2 billion. The supply was accepted quickly thereafter, and Ballmer turned the brand new proprietor of the Clippers.

Microsoft Stock

The overwhelming majority of Steve Ballmer’s net worth is derived from his 333.3 million shares of Microsoft inventory. Over the years he has bought $3.4 billion price of inventory and picked up roughly $5.5 billion from dividends. Today Steve receives $1 billion per 12 months in dividend funds due to Microsoft’s $3 annual dividend.

In 1980, Bill Gates employed him to be Microsoft’s Business Manager and supplied him a compensation bundle that included an annual wage of $50,000 – plus an 8% possession stake within the firm. The firm included one 12 months later in 1981, and Ballmer’s inventory skyrocketed in worth. As a end result, Steve Ballmer turned solely the second particular person to ever as much as that time change into a billionaire based mostly on inventory choices for an organization that he did not create himself.

Salary

During his tenure as CEO of Microsoft, Ballmer earned a complete wage of roughly $1.275 million. This included a base wage of about $666,000, a money bonus of $600,000, and miscellaneous compensation of about $11,000.

Real Estate

In 2020, experiences said Ballmer had bought a property in Hunts Point, Washington for $9.8 million. The historic house was in-built 1902 and options 3,790 sq. feet of dwelling area and roughly one acre of land. This wasn’t the primary time Steve Ballmer had acquired actual property within the Seattle space. In 1987, he and his spouse Connie bought one other house close by for $1.325 million. Since then, the property has skyrocketed in worth, and in 2020 it had reached a reported worth of over $12 million.

In 2020, Ballmer additionally bought the Forum in Inglewood for $400 million. The Forum was beforehand the house of the LA Lakers, though they later moved to the Staples Center. The Clippers are additionally at present taking part in their video games on the Staples Center, however they may have the prospect to return to their very own venue after Ballmer redevelops the Forum.

Ballmer’s acquisition was a strategic one, as James Dolan (one other NBA crew proprietor) had been stopping Ballmer from developing a separate enviornment close by. Dolan’s firm, MSG, bought the Forum in 2012 for $23.5 million. After Ballmer efficiently purchased out Dolan’s curiosity within the Forum, he paved the best way for a model new, 18,000-seat stadium with all the most recent options. Some estimate that this new stadium might value over $1 billion to assemble, and it’s scheduled for completion in 2024.