Steve Ballmer has surpassed Bill Gates to become the sixth-richest person in the world, a first for any former Microsoft employee.
According to the Bloomberg Billionaires Index, Ballmer’s net worth stands at $157.2 billion, with more than 90% of this wealth in Microsoft shares. This shift occurred as Microsoft shares hit a record high, climbing 21% this year, bolstered by its partnership with OpenAI and the broader AI-driven rally in the US stock market.
In contrast, Bill Gates has a net worth of $156.7 billion, with about half of his wealth held through Cascade Investment, a firm established from the proceeds of Microsoft stock sales and dividends. Cascade Investment’s diverse portfolio includes a $21 billion stake in Republic Services Inc., a waste-management company.
At 68, Gates has been steadily reducing his fortune through extensive philanthropic efforts. He, along with his ex-wife Melinda French Gates and friend Warren Buffett, has directed billions towards the $75 billion Gates Foundation, one of the largest charitable organizations globally. Since its inception over two decades ago, the foundation has received nearly $60 billion from Gates and French Gates. 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 world’s wealthiest individuals to donate the majority of their fortunes either during their lifetimes or in their wills. Although 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 succeeded him as CEO. Ballmer retired in 2014 and subsequently became Microsoft’s largest shareholder. That same year, he purchased the NBA’s Los Angeles Clippers for $2 billion, an investment now valued at $4.6 billion.
