In a Nutshell: Steve Ballmer, the former Microsoft executive, has surpassed his co-founder Bill Gates in terms of wealth, making him the sixth richest person globally with a net worth of $158 billion. His fortune is primarily tied to Microsoft’s stock performance, which has seen a significant increase this year.
According to the Bloomberg Billionaires Index, Ballmer now outranks notable figures such as Google co-founder Sergey Brin, Warren Buffett, Michael Dell, Jensen Huang, and Larry Ellison in terms of wealth.
Ballmer’s rise in wealth can be attributed to Microsoft’s stock rally this year, with shares surging by 22 percent since January. This increase is particularly significant considering that the majority of Ballmer’s net worth is tied to Microsoft stock.
Interestingly, Ballmer did not receive any equity when he joined Microsoft in 1980 but later exchanged his base salary for eight percent of the company’s stock. Currently, he owns around four percent of Microsoft, while Gates holds approximately one percent.
Upon leaving Microsoft in 2014, Ballmer expressed his intention to hold onto his shares until he either donates them to charity or passes away. At 68 years old, it seems likely that his shares will continue to contribute to his wealth for the foreseeable future.
Despite his substantial wealth, Ballmer’s fortune falls slightly short of Google co-founder Larry Page’s net worth and significantly behind other tech giants like Mark Zuckerberg, Jeff Bezos, and Elon Musk.
This milestone of surpassing Gates in wealth is a rare occurrence in corporate history, as it is uncommon for an employee to outpace the founder of the company they worked for. Ballmer’s success as an employee turned billionaire sets him apart in the realm of wealth accumulation.
