Steve Ballmer Surpasses Bill Gates in Wealth, a First for Microsoft

Steve Ballmer has surpassed Bill Gates in wealth for the first time, marking a significant milestone for Microsoft employees. This unprecedented shift highlights Ballmer's financial growth and influence within the tech industry, reflecting his successful ventures and investments since leaving his role as Microsoft's CEO. The change in their financial standings underscores the dynamic nature of wealth accumulation among top tech leaders and the evolving landscape of the industry.

According to the Bloomberg Billionaires Index, over 90% of Steve Ballmer's $157.2 billion net worth is held in Microsoft shares.

Boston Brand Media discovered the trending news - Steve Ballmer surpassed Bill Gates on Monday, becoming the sixth-richest person in the world. This marks the first time the former Microsoft Corp. CEO has been wealthier than the company's co-founder. The shift occurred as Microsoft shares hit a new high, with a 21% increase this year. The company has significantly benefited from the artificial intelligence surge, driven by its partnership with OpenAI.

According to the Bloomberg Billionaires Index, over 90% of Ballmer's $157.2 billion net worth is in Microsoft shares. In contrast, Gates' $156.7 billion fortune is more diversified. About half of his wealth is managed through Cascade Investment, created from Microsoft stock sales and dividends. Gates also owns a $21 billion stake in Republic Services Inc. via Cascade.

Boston Brand Media also found that at 68, Gates has been gradually reducing his fortune through philanthropy. Along with his ex-wife Melinda French Gates and Warren Buffett, he has donated billions to the $75 billion Gates Foundation, one of the world's largest charitable organizations. Since founding the foundation over two decades ago, Gates and his former wife have donated nearly $60 billion of their personal wealth. Recently, French Gates stepped down as co-chair and received $12.5 billion for her own charitable initiatives.

In 2010, Gates, French Gates, and Buffett founded the Giving Pledge, encouraging the wealthy to donate most of their fortunes during their lifetimes or through their wills. While Ballmer, also 68, has not signed the Giving Pledge, he engages in philanthropy, albeit on a smaller scale compared to Gates.

Gates co-founded Microsoft with Paul Allen in 1975 and led the company until 2000, when Ballmer, an early employee, took over as CEO. Ballmer retired in 2014 and became Microsoft's largest shareholder that same year. In 2014, he bought the NBA's Los Angeles Clippers for $2 billion, an investment now valued at $4.6 billion.

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Source: NDTV‍