Becoming the world's sixth richest person, with $157.2 billion! Former Microsoft CEO Ballmer's net worth surpasses Gates for the first time
The second-in-command of technology giant Microsoft has surpassed its founder in personal wealth for the first time.
On July 1, local time, former Microsoft CEO and president Steve Ballmer surpassed Microsoft co-founder Bill Gates for the first time on the Bloomberg Global Rich List, becoming the world's sixth richest person. According to the Bloomberg Billionaires Index, Ballmer's net worth reached $157.2 billion, while Gates' wealth was $156.7 billion, dropping to seventh place.
As one of Microsoft's earliest employees, Ballmer began working as an assistant to the president in 1980, was appointed CEO of Microsoft in 2000, and succeeded Gates as president of Microsoft in 2008. He retired in 2014 and became Microsoft's largest individual shareholder in the same year. Regulatory documents show that Ballmer owned 333 million shares of Microsoft when he retired. Assuming that Ballmer retains most of his shares, more than 90% of his net worth is Microsoft stock.
![Becoming the world's sixth richest person, with $157.2 billion! Former Microsoft CEO Ballmer's net worth surpasses Gates for the first time](https://a5qu.com/upload/images/e84a5f84fb37575fbf7420b35d2c1c33.webp)
In the past two years, the AI craze and the collaboration with OpenAI have continuously pushed up Microsoft's stock price. On the 1st, Microsoft's stock price closed at $456.73 per share, up 2.19%, with a total market value of $3.39 trillion, still the world's largest company by market value. Wind data shows that Microsoft's stock price has risen by more than 21% this year.
Gates, on the other hand, has diversified his $156.7 billion fortune, with about half held through investment firm Cascade Investment, which he created through sales of Microsoft stock and dividends. Gates also holds a $21 billion stake in waste management company Republic Services through Cascade.
In addition, Gates, 68, has been slowly reducing his wealth through philanthropy. Since establishing the Gates Foundation more than 20 years ago, Gates and his ex-wife Melinda Frances Gates have donated nearly $60 billion from their personal fortunes. In 2010, Gates and his ex-wife, along with Warren Buffett, jointly launched the "Giving Pledge" program, which aims to encourage the world's richest people to join the ranks of charitable donations and use most of their wealth for charity.
![Becoming the world's sixth richest person, with $157.2 billion! Former Microsoft CEO Ballmer's net worth surpasses Gates for the first time](https://a5qu.com/upload/images/18fcdccc6898af176920ee96e16eacbf.webp)
At the same time, although Ballmer is also involved in philanthropy, his scale is far less than Gates. Now, Ballmer is better known as the owner of the NBA Los Angeles Clippers. After retiring in 2014, he bought the NBA Los Angeles Clippers for $2 billion, and this investment is now valued at about $4.6 billion.
It is worth mentioning that, despite being regarded as the biggest contributor to Microsoft's leading position in the AI boom, Microsoft's current CEO Satya Nadella has not yet made it onto the Bloomberg Billionaires List. Currently, the top three on the list are Tesla CEO Elon Musk, Amazon founder Jeff Bezos and LVMH Chairman Bernard Arnault.
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