Steven A. Ballmer (born March 24, 1956) is an American businessman, investor, and philanthropist, best known for serving as CEO of Microsoft from 2000 to 2014. He is the owner of the NBA’s Los Angeles Clippers and co-founder of the Ballmer Group.
As of November 2024, his net worth is estimated at $145 billion, making him one of the world’s wealthiest individuals. Ballmer’s leadership at Microsoft saw significant growth, but the company missed key technology trends. His Clippers ownership is seen as a major improvement over the previous regime.
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Steve Ballmer Net Worth
Steve Ballmer has a net worth of $145 billion. He joined Microsoft in 1980 as its 30th employee, following a successful career at Procter & Gamble and Stanford Graduate School of Business. As CEO from 2000 to 2014, Ballmer earned a $1.35 million salary.
In 2014, he bought the Los Angeles Clippers for $2 billion, now valued at $4 billion. Ballmer has earned $13 billion through stock sales and dividends, and starting in 2024, he will receive a $1 billion annual dividend from Microsoft.
Early life
Steven A. Ballmer was born on March 24, 1956, in Detroit, Michigan, to Beatrice Dworkin and Frederic Henry Ballmer, a Ford manager. Raised in Farmington Hills, he also lived in Brussels from 1964 to 1967.
He graduated as valedictorian from Detroit Country Day School and attended Harvard College, where he earned a magna cum laude degree in applied mathematics and economics in 1977. After brief stints at Procter & Gamble and in Hollywood, he dropped out of Stanford’s MBA program in 1980 to join Microsoft.
Career
On January 13, 2000, Ballmer became CEO of Microsoft, taking charge of finances and daily operations, while Bill Gates retained control of the company’s technological vision. Ballmer focused on business justification for new products and made significant management changes.
Despite overseeing Microsoft’s revenue growth, its share price stagnated. He expanded into connected computing with acquisitions like Skype and the Xbox division. However, Ballmer faced criticism for missing key tech trends in smartphones and tablets. He announced his retirement in August 2013, with Satya Nadella succeeding him in February 2014.
Personal Life
In 1990, Ballmer married Connie Snyder, and they have three sons. The Ballmers primarily reside in Hunts Point, Washington, owning multiple homes in the Seattle area. As of 2024, they also own a total of 10 properties near Coupeville, Washington.
What companies does Steve Ballmer own?
Steve Ballmer is the co-founder of Ballmer Group and the owner of the Los Angeles Clippers NBA basketball team.
Conclusion
Steve Ballmer’s journey from the corridors of Microsoft to the courts of the NBA epitomizes a trajectory of relentless pursuit of excellence. His transition from tech giant to sports titan is not merely a change of industries but a broadening of his legacy — impacting technology, sports, and society.
FAQs about Steve Ballmer Net Worth
- How did Steve Ballmer accumulate his wealth? Steve Ballmer’s wealth primarily stems from his tenure at Microsoft, where he was the company’s second CEO, his ownership of the LA Clippers, and investments, particularly his shares in Microsoft.
- What percentage of Microsoft does Steve Ballmer own? Ballmer retains a significant portion of Microsoft with 333.3 million shares, having sold $3.4 billion worth and collected around $4.5 billion in dividends over the years.
- What philanthropic efforts is Steve Ballmer known for? Steve Ballmer, along with his wife, is known for their philanthropic organization, the Ballmer Group, which focuses on improving economic mobility for children and families in the United States.
- What are some criticisms Steve Ballmer faced as CEO of Microsoft? Despite his successes, Ballmer was criticized for missing the smartphone trend, investing in failed products like Nokia and the Surface, leading to a stagnation in company share value.
- How has Steve Ballmer impacted the sports industry since purchasing the LA Clippers? His $2 billion purchase of the Clippers signified a new era for the team, marked by a significant investment in talent, community, and plans for a state-of-the-art stadium, indicating his commitment to transforming the sports franchise into a leading NBA team.
